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Are Your Finances Earthquake Proof?

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The tragedy in Christchurch this week got me thinking about how ‘earthquake proof’ peoples finances are. It brings to mind a cartoon that I saw many years ago that stuck in my mind. “New Zealanders can retire quite comfortably today…..until 2pm tomorrow”. Have you thought about putting some money put aside for a rainy day?

So many of us have been living a life of consumerism and have been more interested in acquisition and consumption. We live in a world that is mostly based on what we want today rather than thinking about tomorrow and our future.

Our world is changing: the credit crunch, earthquakes, floods, etc. It seems to be we need to be more prepared than ever for the unexpected. The financial services industry suggests that you ideally should have 3-6months worth of your expenses put aside somewhere in case you need some reserves. How many of us can say we have that?

Its an incredibly tough time for our fellow Kiwis in the Christchurch area. Unless you were affected it would be hard for anyone else to understand the emotions that they must be feeling. Although most people will be covered by their insurance, there will be government support and donations coming in from around the country, however many will still be affected financially. For those that did have some money put aside, Im sure it would have eased the burden a little and taken off some of the pressure. Money gives provides us with flexibility and choices.

How prepared are you for a financial earthquake? It would be great o hear your comments.

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