Financial wellness tips for busy union members in 2024
In the fast-paced world of union workers in New Zealand, finding a balance between work commitments and personal life can be a struggle. Amidst the hustle and bustle, it’s crucial to prioritise not only your career but also your financial wellbeing.
At Union Plus, we understand the unique challenges faced by union members, so we’ve put together some great tips for you to try this year to help you achieve financial wellness while maintaining a healthy work-life balance.
1. Create your foundation
A budget is the foundation of effective financial management. If you don’t have one already, try your hand at creating one this year. Identify your expenses, prioritise essential costs, and allocate a portion of your income towards savings and investments.
2. Maximise the benefits of your union
Union memberships often offer various benefits, including insurance and retirement plans. Understand these perks and make the most of them. Enrolling in these plans provides a safety net for unforeseen circumstances and secures your future.
For example, we’re currently offering union members $100 towards their first insurance premium when they book in for a free, no-obligation financial review with us!
3. Manage your time effectively
Efficient time management is crucial, and so establishing boundaries between work and personal life is a must. Delegate where possible, and carve out time for relaxation and family activities. A well-structured day fosters productivity and allows for personal time that can help you unwind and be in top shape for your next shift.
4. Put health first
Your health directly impacts your ability to work and earn. Regular exercise, a balanced diet, and adequate sleep are essential. Additionally, having comprehensive health insurance ensures access to quality healthcare without financial strain.
5. Invest in yourself
Stay relevant in your field by investing in continuous learning and skill development. Many unions offer training programmes or educational benefits to help you grow in your chosen career. Upskilling not only enhances job security but also potentially increases earning potential for a stronger financial future.
6. Prepare for the unexpected
Create an emergency fund to cushion unexpected financial blows. This fund acts as a safety net during unforeseen circumstances, reducing the need for loans or financial stress. Aim to save a portion of your income regularly and get the right insurance in place for the things your emergency fund won’t be able to cover, like the loss of your home or your health.
7. Seek financial advice
Our financial advisors specialise in assisting union members. Whether it’s KiwiSaver advice, first home buying support, or insurance coverage, our team can provide personalised guidance that aligns with your financial goals.
Reach out to us today to schedule a no-obligation financial review and take proactive steps towards securing your financial future while thriving in both your professional and personal life this year.
Looking to save money on your insurance?
Our trusted advisers are skilled at finding the best cover for you – not just selling you the most expensive cover. We understand that every dollar counts.
Book in for free, no-obligation financial advice with one of our trusted advisers today and receive a voucher to match your first month’s premium (up to $100).
This applies to any new home loans or personal insurance covers (life, trauma , mortgage / income protection or health insurance).
Already got your cover sorted? Pass this on to another union member to help them out too.