Jordan’s corner

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Financial adviser Jordan Bean shares her top five habits for becoming a financially responsible woman.

Hello. I’m Jordan Bean, and I’ve been with Alistair Bean & Associates – Financial Advisers since its beginning in 2013. I’ve worked hard behind the scenes for years while becoming a qualified financial adviser. Now, Alistair has asked me to share my insights on investment and financial advice.

Welcome to the first edition of ‘Jordan’s corner.’ I’m going to tell you the top five habits I maintain to be a financially responsible woman approaching her thirties.

1. Invest! Look after your own needs as an independent woman, whether that be putting a percentage of your income into KiwiSaver and/or allocating what you can afford into other investment portfolio structures, with compounded value over time being most important to help secure your nest-egg, retirement or first home purchase. I have a weekly automatic payment set up to buy whatever investment catches my interest each week, or simply let my cash accumulate if I want to be more strategic. Of course, I contribute to KiwiSaver each payday.
2. Focus on quality over quantity for goods such as clothing. It’s better to have a higher upfront cost on items that will last longer than buying cheaper and having to replace them sooner.
3. Have a budget in place for the short, medium and longer-term. This can be as simple as a third each to expenses (or debt reduction), savings and fun. It could also be as meticulous as having multiple bank accounts and calculating the annual cost for each expense and allocating this every payday to said expense.
4. Make bread! Pickle your own onions! In other words, buy ingredients so that you can make things in bulk and reduce your overall cost of living.
5. Possibly the most important of all: look after your health. Get moving and eat well. Find movement that brings you joy so that it is easier to stick to. Your body, mind and wallet will thank you in the long run.

All of this allows for independence, and security as an individual and in any partnership. I can’t wait to share more thoughts ideas, and commentary with you, but in the meantime, feel free to contact me on 027 226 6579, or through our website, to talk about anything above, or for any financial advice you need.

abafs.co.nz

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