Amanda Morrall

My two cents on insomnia, financial stress and putting yourself first in midlife.

Made redundant at 57, she worries she can’t bounce back. Here’s what she can do to push through “For increasing numbers of New Zealand households, job redundancy is hitting many as it seems every other day layoffs are announced,” says Gill South.

Procrastination and fear are twin enemies of personal finance.
I see this often with my female clients.

They'll delay making critical investment decisions at their own expenses and drift along.

One client said to me, "I don't want to be one of those typical middle age women who get scammed at lose at their savings."

My response was: "The more typical middle age woman will let their savings languish in a low-return TD or savings account and lose out on much higher long-term returns!"

She thanked me the following week for sparking her into action as we had already explored several good options with reputable low-fee fund managers and she had even open an account.

OBVIOUSLY, you need to do your research first.

That includes making sure you understand who is managing your money and how, fee structures, time frames and risk levels.

Doing nothing is worse than staying on the treadmill. You'll be moving backwards financially.

So much of personal finance really is mindset and this is what I help women with when it comes to overcoming mental traps and bad habits.

The money part isn't that hard. The mind is another beast....

Get clear on your goals, map a plan, and take action today.

https://lnkd.in/eEGi5sXx

Context around money is essential. Psychology is at the centre.

Money is not a means unto itself but a means to an end.

This was the subject of my chat with Tim Beveridge on Newstalk ZB on the Weekend Collective.

https://www.newstalkzb.co.nz/on-air/the-weekend-collective/smart-money/amanda-morrall-theres-more-to-life-besides-money/

Amanda Morrall: There's more to life besides money An interesting report came out this week about budgets: the average household spending has only gone up two dollars a week since 2023. 50-percent of respon

34% of Kiwis have less than $2000 in cash for emergencies and yet having that $2k produces a higher financial wellbeing level than having income of $200k.
At least that's according to a Vanguard Study on financial wellness.
https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/emergency-savings-may-hold-key-financial-well-being.html
How prepared are you for an emergency?
Don't panic if you aren't. Start small and build up a weekly base.
Make sure you're funds are held in a separate account that you can't easily access ~ unless it's an emergency.