GOLDEN RULES

South Waikato News - - Your Health -

❚Avoid ex­tended war­ranties Only buy nec­es­sary in­sur­ance Avoid debt, and debt in­sur­ance

money, and it gives some of it back to help pay for mi­nor med­i­cal treat­ments. This is silly. In­sur­ance is there to pay for the things you can’t af­ford on your own, like hav­ing a back op­er­a­tion, or re­build­ing your house af­ter a fire.

STORE WAR­RANTIES: The Con­sumer Guar­an­tees Act means shops that sell you ap­pli­ances that break down within a rea­son­ably short pe­riod of time have to fix or re­place them. There’s no elec­tri­cal ap­pli­ance that should break within three years. Make them pay in such cases.

KIWISAVER DE­FAULT FUNDS: Su­per low-risk Kiwisaver funds for peo­ple who do not choose a fund for them­selves. Ev­ery­one needs to make a Kiwisaver choice. If you haven’t, I pre­dict you will re­gret it come age 65.

MO­BILE PHONE IN­SUR­ANCE: If you buy a mo­bile phone you need to in­sure be­cause you could not af­ford to re­place it, if you lost it, you have spent more than you can af­ford on a phone.

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