The financial time bombs hiding in plain sight
Financial experts warn that unexpected life events, such as illness or job loss, pose significant risks to personal financial stability. The article emphasizes the importance of maintaining emergency funds and being aware of rising scam activity.
Why it matters
Provides practical financial literacy advice for individuals to mitigate the impact of unforeseen economic shocks.
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People do get taken out financially for all sorts of reasons. Photo / 123rf
It takes just one event to wreck your finances. A cancer diagnosis. Losing your job. A landslip. Falling victim to a sophisticated scam. A period of high inflation. People do get taken out financially for all sorts of reasons that often come from left field.
A few weeks back I read of 71-year-old Rachael Feather, who is dying of cancer, but can’t sell her home thanks to slip damage to neighbouring council land .
And I wrote about a Canterbury resident who couldn’t afford to remediate her home 15 years after the earthquakes, and was still living in a sleepout .
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