Your Financial Wellbeing Calendar
Get this year right by getting ahead of your finances before they get ahead of you. Everyday life is busy, and managing your money can often feel like a lot of work. The constant juggling of income, expenses, savings, and investments can be overwhelming. However, improving your finances and financial wellbeing doesn't have to be a scary task. We’ve put together a monthly calendar of our top tips to help you get your finances into shape and improve your financial happiness.
December
You’re on the home stretch. Remind yourself of your goals and celebrate how much progress you’ve made on your journey towards owning your financial wellbeing. Here are our top 3 tips to help you stay on track this festive season:
- Set a budget. Figure out how much you have to spend and track it throughout the holiday season.
- Make a list. Before shopping, make a list of those you want to buy gifts for and set a spend limit for each person.
- Shop around for deals. Take your time to find great deals at discount stores, online retailers, and even your supermarket.
Wishing you a safe and happy festive season from the team at AMP.
January
Now is the time to check your finances and plan for achieving your savings and investment goals for this year. Whether you want to travel, buy your first home, or keep working on the goals from last year, setting goals will help you stay focused and on track. We’ve put together a few resources to check out as you enter 2024:
- Our quick 5min financial fitness check
- A range of FREE tools and calculators including our budget tracker
- Helpful tips for your roadmap to financial wellness
AMP KiwiSaver, NZRT, and AMP Managed Funds members can view and manage their accounts online with MyAMP anytime.
February
Consider and compare your options outside of a traditional savings account. Investing could potentially offer a better rate of return than a traditional savings account, but it’s important to know that it carries more risk as returns are likely to fluctuate.
AMP offers a range of investment options for all budgets so your money can start working just as hard as you do. KiwiSaver could be a great option when saving to buy a first home or save for retirement. If you're looking to save but still want access to your money at anytime, you might want to consider investing in a Managed Fund.
March
Make sure your money works as hard as you! KiwiSaver is not a one size fits all. There are a range of KiwiSaver providers, each offering different investment funds, and at any time you can choose which provider and type of fund best suits you. Take some time to ensure that you’re invested in the right assets for your stage of life and the level of investment risk you’re willing to take. The same principle applies when investing in a Managed Fund.
Watch our short video on the importance of being in the right fund or take our online fund quiz. For a little help, reach out to your adviser to discuss your AMP KiwiSaver fund options.
Watch our video explaining how the KiwiSaver government contribution works.
April
Get up to $521 from the Government in your KiwiSaver account. Depending on your age, and if you make contributions to your KiwiSaver account, you may receive a government contribution of up to $521.43 a year (1 July to 30 June) to boost your savings. If you’re employed, you may already be making contributions to your KiwiSaver account but if you’re self-employed or currently unemployed and you can afford it, consider adding extra to your KiwiSaver account, so you don’t miss out.
Small amounts can make a real difference to your final investment balance. The earlier you contribute, the more time there is for those contributions to potentially grow.
May
If you’re a member of KiwiSaver, your annual statement will likely be on its way to you shortly. It contains a summary of your KiwiSaver account for the financial year. AMP KiwiSaver Scheme members can find their statement online at MyAMP.
If your balance is not quite what you expected or has dropped, don’t panic. KiwiSaver has been designed for the long-term and it’s important to remember that market movements up and down are common and downturns don’t last forever.
Check out your AMP statement checklist to ensure you’re on track and your details are up to date.
In this short video AMP Client Adviser Devon Walen takes us through what goes on during a meeting with one of our AMP advisers.
June
It's time to review your progress and make sure your goals are still on track. Some quick questions to ask yourself include:
1. Have my goals changed at all?
2. Am I still comfortable with the amount of risk I have taken on?
3. Can I afford to save/invest more?
Consider scheduling time with your adviser to do a comprehensive review of your investments to make sure they remain aligned with your goals and risk appetite. Reach out for help.
Reminder: Grab your share of the free KiwiSaver government contribution (make sure to top-up by 21 June to allow for processing).
July
Protect what's most important to you with insurance. A comprehensive insurance plan helps provide financial security against life’s uncertainties, such as a natural disaster, a car accident or lost luggage while traveling.
As time passes, your insurance needs may change, so it's a good idea to review your cover at the time of renewal.
We've got some handy online tools to help you calculate your home rebuild costs and your home contents costs. Reach out to your insurance adviser or one of our insurance specialists to discuss your needs.
August
If you don’t already have one, consider setting up an emergency fund.
An emergency fund is money you save to cover urgent or unexpected costs. This could be repairs, unexpected travel or an urgent medical bill. It provides a financial safety net, so you don't have to borrow money if something happens to you or your family.
Check out our guide on building an emergency fund with term deposits.
You can find more helpful tips in our Money Month Hub
September
It’s important to check your Prescribed Investor Rate (PIR) annually to make sure you’re paying the right amount of tax on your investments.
Check out our guide on how to make sure yours is set where it should be.
AMP KiwiSaver Scheme, NZRT and AMP Managed Funds members can update their PIR online in MyAMP at any time.
If you're an AMP KiwiSaver Scheme and/or NZRT member watch our short video on the projections feature available in the MyAMP mobile app.
October
Try the AMP KiwiSaver Scheme calculator to find out how much money you may have in your KiwiSaver account come retirement and how extra contributions could make a big difference to your financial future.
Our calculator can help you to make well-informed decisions about your KiwiSaver contributions and possible future returns, and assist you with your goals, whether that is leading you to home ownership or a comfortable retirement.
With MyAMP you can manage and top up (lump sum or regular automatic payments) your AMP KiwiSaver scheme, NZRT, and AMP Managed Funds account anytime, anywhere.
November
We all know New Zealand is a beautiful country, that's why us kiwis love to explore it! We’re so fortunate to be able to hop in the car and within a few hours arrive at epic locations with stunning scenery.
Check out our ultimate pre road trip checklist to make sure you’re road ready for your next adventure.