Invest in you: Build your future one step at a time

They say money can’t buy happiness… but having financial breathing room sure helps. Money Month is your chance to take small, smart steps that make a big difference for your future self.

1. Build your “Rainy day” fund 

Life has a way of throwing the odd curveball — a burst pipe, a surprise car repair, or an unexpected bill. That’s where your rainy day fund comes in.

After covering your fixed expenses (rent/mortgage, utilities, food), aim to put a little aside each payday. Even $20 a week adds up over time. Your future self will thank you when the storm clouds roll in.

2. Review your direct debits 

When was the last time you checked your subscriptions?

·         Paid TV or multiple streaming services?

·         A gym membership you swear you’ll start using next month?

·         Apps you forgot you signed up for?

If you’re not getting value from something, consider cancelling it. That's instant money back in your pocket to invest in something you do value.

3. Harness the power of compound interest 

Einstein reportedly called compound interest “the eighth wonder of the world” and for good reason.

When you save or invest, you don’t just earn interest on your original amount, you earn interest on your interest. 

Over time, that snowballs.

Example: If you invest $100 a month at a 5% annual return, after 10 years you’d have around $15,500 — not just the $12,000 you put in. That’s the magic of letting your money work for you.

4. Check your credit file 

Your credit file is like a financial CV, lenders use it to decide whether to approve loans, credit cards, or even some service accounts. Mistakes happen, and they can cost you.

In New Zealand, you can request a free copy of your credit report once a year from agencies like Equifax, Centrix, or illion.

Check it for:

• Outdated information

• Accounts you don’t recognise (possible fraud)

• Payment history accuracy

Fixing errors now could save you headaches later and improve your chances of getting the best interest rates.

5. Make it a habit 

The best time to start was yesterday. The second-best time is today. Set up an automatic transfer to your savings or investment account right after payday before the money has a chance to wander elsewhere.

Your challenge this Money Month

Pick one action, start your rainy day fund, cancel a subscription you don’t use, or set up an automatic transfer and do it today. Small steps now can lead to big freedom later.