Financial myths are everywhere and believing them can hurt your wallet. Let’s bust some common myths and set the record straight for a smarter financial future.
Myth: KiwiSaver Is Only for Retirement
Reality: KiwiSaver can also assist with buying your first home.
Myth: Health Insurance Is Only for the Elderly
Reality: Health issues can arise at any age; early coverage means you are covered for any conditions that develop. If you wait to take health insurance until you are older, there is a higher chance of pre-existing medical conditions.
Myth: The Cheapest Policy Is Always Best
Reality: Cheap policies often have limited coverage and higher excesses. It is wise to seek advice.
Myth: You Don’t Need Life Insurance If You’re Single
Reality: Life insurance can cover debts and funeral costs, relieving family members.
Don’t let myths guide your decisions. A clear understanding and professional advice can lead to better financial choices.
