Don't believe everything you hear, see and read

During these uncertain times, I think it is important to be very aware that not everything you hear on the radio, see on the TV or read in the papers is necessarily true. Much of it is opinion from various pundits which may or may not be correct.

Judging by the amount of "experts" who keep on saying that we are close to the end of this crisis, there is surely reason to be sceptical and conscious of what information you allow into your being.

For example, many times, the media reports that a particular bank is in good shape and then a few weeks later they go belly up.

In the UK, with Northern Rock, it wasn't until the company was on its knees that reporters actually let the public know the gravity of the situation. Maybe the press didnt even know themselves. In New Zealand, I have been saying for nearly two years now that the banking system is unstable. So despite what you may hear on the news, please keep and open mind and don't have your blinders on when it comes to the banks here. They are not infallible.

I am not suggesting that you hide your money under the mattress, but I am suggesting that you become aware that the media doesn't report with any degree of accuracy on banking institutions.

Indeed, here in New Zealand in my local supermarket, there were long queues (something very unusual in Christchurch) - when I finally got to the cashier she told me the reason was because EFTPOS (the main electronic banking system in NZ) had gone down nationally! Already in just a few minutes chaos was ensuing. This should be a warning to you - just to stay aware.