❚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.