Tips & Guides

Financial Tips for Filipino Migrants & Kiwi Families

🛡️ 3 Insurance Mistakes New Migrants Make — and How to Avoid Them
Starting fresh in New Zealand? Protecting your family with the right insurance is essential — but many new migrants get it wrong.

🚫 Mistake 1: Relying only on employer cover — it ends when you leave the job.
🚫 Mistake 2: Getting the cheapest policy without understanding what’s excluded.
🚫 Mistake 3: Delaying cover — only to need it when it’s too late.

✅ Tip: Get advice from a licensed financial adviser who understands your situation. The right cover should protect your income, family, and health — not just tick a box.

🚗 Avoid Buying an Expensive Car Right Away

Many new migrants take out big car loans too soon — without fully understanding their regular living expenses in New Zealand. A big car loan can strain your budget early on. Always remember: a car is a depreciating asset. The payments, insurance, fuel, and maintenance can quickly eat into your budget.

✅ Tip:
Start with something reliable and budget-friendly. Focus first on building your financial foundation — savings, insurance, and KiwiSaver — before committing to big car loans.

A flashy car won’t define your success — but smart financial decisions will set you up for the future.

💰 KiwiSaver 101: What New Migrants Need to Know

KiwiSaver is New Zealand’s retirement savings scheme. Many new migrants are automatically enrolled but don’t know which fund they’re in — or that they can change it.

✅ Tip: Review your fund type regularly. Conservative funds are generally safe but may grow at a slower rate. Balanced or growth funds may suit longer timeframes.

👨‍👩‍👧 How Much Life Insurance Do I Really Need?

There’s no one-size-fits-all answer, but a good starting point is covering debts, income replacement, and children’s future needs.

✅ Tip: Reassess your cover during major life events — like having a child or buying a home.

🏠 First Home Buyers in New Zealand

Buying your first home? It’s an exciting step — but it can be overwhelming if you don’t know where to begin. 

Start by knowing your numbers: your budget, deposit, and what you can realistically afford. 

✅ Tip: Start with a clear savings plan. Know how much you need for your deposit, how long it will take to save it, and what support (like KiwiSaver or First Home Grant) you can use. Don’t rush into a mortgage without understanding your full financial picture. Talk to a licensed adviser to build a realistic strategy — from saving to settling. 

🧓 Why Retirement Planning Starts Today, Not at 60

Many think retirement planning is for “later” — but the earlier you start, the more you benefit from compounding returns over time.

✅ Tip: Even small, consistent contributions now can make a big impact on your retirement future.