As part of our series exploring how New Zealanders live and our relationship with money, an urban design consultant shares the ins and outs of her finances.
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Gender: Female
Age: 35
Ethnicity: Pākehā.
Role: Consultant, urban design.
Salary/income/assets: Salary – about $110,000 a year (I work two jobs and one has a more variable income) $400 p/w rent from my partner, who moved in recently, which makes money much easier each week.
My living location is: Urban.
Rent/mortgage per week: $1,050 mortgage repayments, including rates and body corporate fees.
Student loan or other debt payments per week: No other debt. I have been fortunate to have help from family along the way – my parents paid off my first student loan, and I paid off my second just before I bought my apartment.
Typical weekly food costs
Groceries: $100 on general groceries, but it’s hard to track because I shop at random several times a week.
Eating out: $50-$75 – generally one breakfast out per week, and sometimes dinner or a drink out with friends.
Takeaways: $0. If I’m buying food I’d rather eat in the restaurant. I like cooking, and I hate takeaway packaging!
Workday lunches: $20, once a week, otherwise I bring my lunch. I work in the city centre and I have to practise discipline because there are so many good options.
Cafe coffees/snacks: Up to $50. Three to four bought coffees per week, and my weakness is pastries!
Other food costs: $40 on a vegetable box from Kelmarna Farm each week.
Savings: $9,500 in KiwiSaver and $2,000 in Sharesies. I poured all of my savings into buying an apartment last year. Everything’s going into the mortgage right now (interest rates are high!) but I’m slowly working towards being able to do more than break even.
I worry about money: Sometimes.
Three words to describe my financial situation: Fortunate and stable. I am very conscious that I’ve had significant support from my parents. They contributed to my home loan deposit as well as paying off my first degree. Life would be a very different if they weren’t able to/didn’t want to help financially. They had help from their parents, and also had free tertiary education, and they feel strongly that young people shouldn’t be starting life in debt from education.
My biggest edible indulgence would be: Eating out at cafes… I just love a quiet coffee and book in a nice environment.
In a typical week my alcohol expenditure would be: $0 – does anyone still drink these days??
In a typical week my transport expenditure would be: $20 on general car expenses, $10 on public transport. I bike and walk most places, but sometimes do drive in the weekends to get out of the city.
I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: About $500 last year – I am trying to have a year of no shopping this year.
My most expensive clothing in the past year was: $500 trail running/hiking shoes that should last me for years.
My last pair of shoes cost: $500 – the trail shoes mentioned above.
My grooming/beauty expenditure in a year is about: $450 on haircuts and $400 on skincare/haircare. I don’t use makeup or get any beauty treatments done.
My exercise expenditure in a year is about: $4,500. I pay $100 a week for small-group weightlifting classes with a trainer.
My last Friday night cost: $18.50 – for a quick dinner before heading to a choir rehearsal.
Most regrettable purchase in the last 12 months was: $100 on a pair of Tevas. I was sucked in by the trend and I just don’t like them much.
Most indulgent purchase (that I don’t regret) in the last 12 months was: $650 on a robot vacuum cleaner (30% off because it was a floor model). Getting a robot to do the vacuuming and mopping while you clean something else is life-changing.
One area where I’m a bit of a tightwad is: Transport. I don’t like driving and with a bit of planning I can save a lot of money getting around by bike, public transport and walking.
Five words to describe my financial personality would be: Fortunate, generous, thoughtful, indulgent, curious.
I grew up in a house where money was: Tight when I was younger, but increasingly abundant due to investments and businesses maturing. My parents took big financial risks that worked out for them, and effectively retired in their 50s.
The last time my Eftpos card was declined was: Years ago.
In five years, in financial terms, I see myself: Plugging away, hopefully having made some progress on my mortgage and feeling like I have options. I am interested in the FIRE (financial independence retire early) movement, but that feels out of reach for me at the moment, living in one of the world’s more expensive cities!
I would love to have more money for: Travel, and to work less so I have more time to pursue other interests.
Describe your financial low: About 10 years ago, a period of time travelling with a partner and being dependent on their income. While the trip was amazing, I never want to be spending someone else’s money again.
I give money away to: The City Mission, Women’s Refuge, and the Green Party.
This post was updated on September 5, 2024 to add extra income information.