Great Tips for Managing a Budget Surplus
0
5
0
Managing a budget surplus wisely can help you build financial security and reach your goals faster. Here’s how:
Build or Boost Your Emergency Fund – Ensure you have at least 3-6 months’ worth of living expenses saved.
Pay Down Debt – Use extra funds to reduce high-interest debt and improve financial flexibility.
Invest for Future Growth – Consider shares, ETFs, or managed funds aligned with your goals.
Top Up Your Retirement Savings – Extra contributions to KiwiSaver or retirement funds can make a big difference long-term.
Plan for Upcoming Expenses – Set aside money for home maintenance, car repairs, or holiday plans.
Improve Your Financial Knowledge – Invest in courses, books, or coaching to make smarter financial decisions.
Give Back – Consider donating to a cause you care about for a fulfilling use of excess funds.
