As part of our series exploring how New Zealanders live and our relationship with money, a married 29-year-old living in the city explains his approach to spending and saving.
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Gender: Male.
Age: 29.
Ethnicity: 100% authentic Kiwi-born Chinese.
Role: Underpaid marketing guy.
Salary/income/assets: $67k/year, slowly building up savings which were decimated when I lost previous job.
My living location is: Urban.
Rent/mortgage per week: $500 per week, one-bedroom apartment with a car park – me and my wife.
Student loan or other debt payments per week: Chipping away at my student loan, about $100 per week. Just 254 weeks to go!
Typical weekly food costs
Groceries: Two below-average-sized adults – around $100 per week.
Eating out: Also about $100 per week.
Takeaways: Counted as part of eating out – eating in is the new eating out.
Workday lunches: Maybe $15 a week.
Cafe coffees/snacks: Office has a nice coffee machine.
Savings: Previously had around 40k saved – that got decimated when I lost my old job just after Covid, but still decided to go on a very expensive trip overseas to reunite with my then girlfriend now wife to go pick her up and bring her to New Zealand after doing long distance for two and a half years during the lockdowns. Slowly building it back up to get what every young couple in Auckland wants (house).
I worry about money: Never.
Three words to describe my financial situation: Poor but happy.
My biggest edible indulgence would be: Wagyu picanha from Westmere Butchery. Though my brother usually pays for that.
In a typical week my alcohol expenditure would be: $0 – usually only drink with friends.
In a typical week my transport expenditure would be: $50/week petrol, $20/week parking.
I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: Around $200.
My most expensive clothing in the past year was: A long-sleeve T-shirt from a niche UK brand – about $100?
My last pair of shoes cost: If we exclude sports shoes then the last pair I bought cost $800. Should have been $600 but Zambesi ran out of my size. The year was 2018, I was young and dumb and didn’t know about the tariff I’d have to pay to buy a pair online from an overseas retailer.
My grooming/beauty expenditure in a year is about: $150-$200, depending on if I get a haircut three or four times in a year.
My exercise expenditure in a year is about: Roughly $1,400/year.
My last Friday night cost: However much electricity I used playing Black Ops 6.
Most regrettable purchase in the last 12 months was: A Sony touchscreen stereo unit for my car. I’ve got a trusty Ford Fiesta I fondly refer to as 小蓝 (little blue), because my car is little, and blue. The stereo unit cost around $500 on sale from Supercheap Auto. The little bits of plastic fitting kit and new buttons that I didn’t think about cost $800 from the mechanics. The installation cost about $900. And when they installed it, they didn’t even connect the rear view camera correctly so I had to take it back again. Pain.
Most indulgent purchase (that I don’t regret) in the last 12 months was: 4070 Super graphics card. Totally worth it.
One area where I’m a bit of a tightwad is: At the moment, buying clothes. I have enough clothing to last a long time.
Five words to describe my financial personality would be: ✨ Money ✨ Exists ✨ To ✨ Be ✨ Spent ✨
I grew up in a house where money was: Varied. There were times of plenty but also times where my parents both didn’t have a job and we survived through sheer faith, with God always providing just enough for us through small business opportunities. Westpac treated us as a highly valued customer with how much money we owed them at the time.
The last time my Eftpos card was declined was: Never.
In five years, in financial terms, I see myself: A bit less poor, still happy.
Describe your financial low: After I came back from that trip mentioned earlier, I went on more trips within New Zealand because of course I’ve gotta show my girl around this beautiful country which is now her home, right? Yeah, money exists to be spent.
I would love to have more money for: Starting my own business.
I give money away to: Friends, family, mostly buying food and drinks for each other.