Tips for women from www.sorted.org.nz

Talking about financial planning is easy, but it can be difficult to know where to start. We have created the Get Sorted checklist to help you prepare for your retirement and achieve financial wellbeing throughout your life.

1. Get a budget and stick to it. Know where your money is going 
2. Pay off debt (high interest first)
3. Work out your net worth and set goals to increase it
4. Get an emergency fund (2-3 months income)
5. Save for the short term (deposit, holiday, a lump sum to invest)
6. Save for the long term (retirement) - If you have access to a workplace savings scheme consider it seriously, especially if your employer will make a contribution too. Check out the schemes rules. Women in particular need to make sure the scheme is flexible. What happens if you take time out to have children or look after a family member?
7. Teach your kids about money
8. Protect your assets - make a will, consider insurance or setting up a trust
9. Consider investing to make your money work for you.

Other related links on Sorted -

• 60plus - information for women
• Planning in a partnership