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Budget Day is here, and whether you're a teacher, a school staff member, or a public servant, you may be wondering what this year’s announcements will mean for your finances.
With the Government focused on controlling spending, and whispers of tax changes and restructuring in the public sector, now’s the time to take a closer look at your money — before any changes hit your wallet.
Here are five smart moves you can make right now to help you stay in control, no matter what the Budget brings.
1. Review Your Household Budget
It might sound basic, but it's the first and most important step.
With inflation still high and changes to income tax or public funding on the cards, you need a clear picture of where your money is going.
Ask yourself:
- What are your essential costs (mortgage/rent, power, groceries)?
- What are your non-essentials (subscriptions, takeaways, impulse spending)
- How much “breathing room” do you have each month?
Even small changes, like trimming recurring expenses or switching to cheaper providers, can make a big difference over time — especially if things get tighter.
Tip: Use a budgeting app like PocketSmith or Sorted’s budgeting tool to track your spending easily.
2. Reassess Your Personal Insurance
Over the past year, many New Zealanders have seen insurance premiums increase significantly — from health cover to income protection to house and contents insurance.
Now is a great time to ask:
- Am I still paying for the right type and level of cover?
- Could I bundle policies or raise my excess to reduce premiums?
- Are there policies I no longer need — or gaps that need filling?
As public sector funding tightens, income protection insurance may be more valuable than ever.
Tip: Speak to an adviser. Remember you can speak to an adviser through our partner Monument and get a free, no-obligation, personalised insurance check-up.
Pro Tip: Plus make sure you look at our Insurance partner offers as they can provide saving opportunities across many of your insurance needs.
3. Check If You're Eligible for Tax Relief or Support
Budget 2025 is expected to include targeted tax relief for working families — especially those in the middle-income brackets.
If tax thresholds shift, or new tax credits are introduced, you could be entitled to extra support — but only if you’re in the know.
Keep an eye out for:
- Adjustments to income tax brackets
- Increases to Working for Families payments
- New family or housing-related tax credits
Even a few extra dollars per week can help cover the rising cost of essentials.
Action step: Visit ird.govt.nz and use their eligibility checkers for tax credits and entitlements — they’re updated regularly post-Budget.
4. Build or Boost Your Emergency Fund
With job cuts already happening in parts of the public service, and restructures expected in others, having some financial backup is more important than ever.
Aim to set aside 2–3 months of essential expenses in a high-interest savings account.
Your emergency fund is your safety net for:
- Temporary job loss or reduced hours
- Unforeseen medical or home expenses
- Unexpected changes to your income or entitlements
Action step: If that feels out of reach, start small: Even $20–$50 a week into a high-interest savings account could help cushion the impact of unexpected changes.
5. Talk to an Expert
Budget 2025 may have winners and losers — but everyone’s situation is different.
Whether you're thinking about retirement, wondering about KiwiSaver, or just want to make the most of your income, a financial adviser can help you plan with confidence.
We have partnered with experts across estate planning, insurance and retirement planning to help you become more financially resilient:
Why go it alone when expert help is available?
Final Thoughts
Government Budgets can bring uncertainty — but they also provide a great reminder to pause, reflect, and realign your finances.
Whether you’re facing cost pressures, planning for retirement, or just trying to make the most of what you earn, these five steps could help you take control.
Don’t wait for change to happen — prepare for it.
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