As part of our series exploring how New Zealanders live and our relationship with money, a 30-year-old teacher shares his approach to spending and saving. For the next three months, The Cost of Being will be brought to you by Sorted.
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Gender: Male.
Age: 30.
Ethnicity: Pākehā/Māori.
Role: High school teacher.
Salary/income/assets: $120,000 due to having extra responsibilities at my school. $65,000 KiwiSaver, $30,000 in two other retirement schemes including Whai Rawa.
My living location is: Suburban.
Rent/mortgage per week: Share a $500k mortgage on a four-bedroom home in a nice area. Often renting a couple rooms out. Mortgage/rates/bills/insurance is approximately $650 each a fortnight.
Student loan or other debt payments per week: $0 – worked through uni and I was privileged to get a scholarship one year.
Typical weekly food costs
Groceries: $200 a week on my groceries.
Eating out: $50. Usually a brunch and a couple coffee dates.
Takeaways: $20 – depends how dusty I am usually.
Workday lunches: $10 a day if I have lunch.
Cafe coffees/snacks: See “eating out”.
Savings: Saving for travel. Approximately $600 a week.
I worry about money: Sometimes.
Three words to describe my financial situation: Comfortable, insufficient, impatient.
My biggest edible indulgence would be: Cheeseburgers.
In a typical week my alcohol expenditure would be: One week I could spend $20 on a six pack, or $200 on a night out.
In a typical week my transport expenditure would be: Petrol, $50. Like to drive to a lot of beaches.
I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $750, mostly on work clothes.
My most expensive clothing in the past year was: Country Road chinos.
My last pair of shoes cost: $100 suede Docs (outlet).
My grooming/beauty expenditure in a year is about: $650 in hair cuts/snail mucin/vitamin D/razors.
My exercise expenditure in a year is about: $0 – running or surfing.
My last Friday night cost: $125 – went o a gig and bought dinner and drinks.
Most regrettable purchase in the last 12 months was: Overindulging on a big night out.
Most indulgent purchase (that I don’t regret) in the last 12 months was: Artworks.
One area where I’m a bit of a tightwad is: I truly value buying quality but I am tight on technology. My phone is over six years old.
Five words to describe my financial personality would be: Saving, saving, saving, oops, fuck.
I grew up in a house where money was: Super tight for the wrong reasons. My job getting home was to shut all curtains and I would be yelled at for leaving doors open or lights on. I reflect on this now and see no immediate reason for this level of vigilance. They probably had their reasons. We lived out of town, so we were allowed one trip there and back a day.
The last time my Eftpos card was declined was: Couple of weeks ago. A bill came out that I forgot about.
In five years, in financial terms, I see myself: Adding to the property portfolio.
Describe your financial low: A few years ago. Having a roof leaking and not having the money to fix it immediately. Borrowing from friends.
I would love to have more money for: I just want a house that has a big open-plan living, dining, deck so I can have friends come over and eat/drink/socialise. I would like to think I have made it then. I don’t need any toys or experiences beyond that.
I give money away to: I give my time, not my money.