Budgeting
Planning & budgeting
Saving & investing
KiwiSaver
Tackling debt
Protecting wealth
Retirement
Home buying
Life events
Setting goals
Money tracking
Plan your spending with a budget
Getting advice
Studying
Get better with money
What pūtea beliefs do you have?
How to save your money
How to start investing
Find a financial adviser to help you invest
Your investment profile
Compound interest
Net worth
Types of investments
Term deposits
Bonds
Investment funds
Shares
Property investment
How KiwiSaver works and why it's worth joining
How to pick the right KiwiSaver fund
Make the most of KiwiSaver and grow your balance
How KiwiSaver can help you get into your first home
Applying for a KiwiSaver hardship withdrawal
How to use buy now pay later
What you really need to know before you use credit
How to get out of debt quickly
Credit reports
Know your rights
Pros and cons of debt consolidation
Credit cards
Car loans
Personal loans
Hire purchase
Student loans
Getting a fine
What happens if I start to struggle with moni?
How to protect yourself from fraud and being scammed
About insurance
Insurance types
Insuring ourselves
Wills
Enduring powers of attorney
Family trusts
Insuring our homes
Losing a partner
Redundancy
Serious diagnosis
How to cope with the aftermath of fraud
Separation
About NZ Super
This year's NZ Super rates
When you’re thinking of living in a retirement village
How to plan, save and invest for retirement
Manage your money in retirement
Find housing options in retirement
Planning & budgeting
Saving & investing
KiwiSaver
Tackling debt
How to use buy now pay later
What you really need to know before you use credit
How to get out of debt quickly
Credit reports
Know your rights
Pros and cons of debt consolidation
Credit cards
Car loans
Personal loans
Hire purchase
Student loans
Getting a fine
What happens if I start to struggle with moni?
View all
Protecting wealth
Retirement
Home buying
Resources
Videos
Podcasts
Just wondering
Help with the cost of living
In need of financial help
Booklets
Glossary
Blogs
View all
10 November 2014
Reading time: 2 minutes
Posted
by
Tom Hartmann
, 0 Comments
If you talk to an architect, they seem to have a different way of thinking about resilience than the rest of us. I used to think of being resilient as being unbreakable, irrepressible, standing strong in the face of it all, no matter what. You know, Kia kaha.
But when architects measure the resilience of a building, they aren’t looking just how strong or rigid it is, but how quickly it can bounce back after an event. If there’s an earthquake, for instance, their buildings need to be able to sway gently and return to normal. Instead of focusing on whether or not they will break, they look at how much they can bend.
As we all build our own financial houses and get them in order, they need to be resilient when things happen (as they always do). It’s one of the things that help build wealthy lives: not just being able to have choices and reach our goals with money, but being able to handle unexpected crises.
At Sorted we usually recommend setting aside three months’ worth of your expenses in an emergency fund. And of course the right insurance is key in being able to recover financially.
But this is about more than just external emergencies like the car blowing a gasket or suddenly needing to take the dog to the vet. There are also all those unplanned costs that crop up from the choices we make ourselves.
We’ve just shifted into a cheap house to save funds, but we could not foresee all those expenses we’d have just to make it livable. I’ve even seen a couple times where someone finds the perfect car to buy, only to find that they need to get a builder to enlarge their garage door so it fits!
Some of these surprise costs simply can’t be known ahead of time, but we still need to be ready to roll with it.
And recover quickly.
What’s with insurance in 2024? Five things to do when your premiums surge
1 Comment
My Money Sorted: Gordon
1 Comment
Guided by Matariki, it’s the perfect time to think ahead
1 Comment
Job loss? 6 steps to bounce back from redundancy
1 Comment
My Money Sorted: Jaelyn
2 Comments
5 steps to get your $521
3 Comments
Use verification code from your authenticator app. How to use authenticator apps.
Code is invalid. Please try again
Don't have an account? Sign up
Or log in with our social media platforms
A Sorted account gives you a personal dashboard where you can save your tools, track your progress and you'll also receive helpful money tips and guidance straight to your inbox.
Or sign up with our social media platforms
Comments (0)
Comments
No one has commented on this page yet.
RSS feed for comments on this page | RSS feed for all comments