The cost of being: A 30-something dad with a mortgage and a bike

As part of our series exploring how New Zealanders live and our relationship with money, an engineer with a toddler shares how he spends and saves.

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Gender: Male.

Age: 34.

Ethnicity: Māori/European.

Role: Engineer, husband and dad.

Salary/income/assets: $210,000 pa.

My living location is: Urban.

Rent/mortgage per week: Family of three, $950 per week. Insurances and rates on top of that. Internet and power come to around $100 per week.

Student loan or other debt payments per week: No debt other than my mortgage which hovers around the $800k mark.

Typical weekly food costs

Groceries: About $350 per week. Split between $250 Countdown shop, $70 grocer shop and about $30 at the bakery. Feeds a two-year-old and my wife and I. We go to the refillery for soaps and detergents, usually spend around $50-$60 every four months or so.

Eating out: My wife and I go to dinner perhaps twice a month. Varies in quality, but I’d say around $300 per month.

Takeaways: Once a week, $60.

Workday lunches: Three to four per week, about $50-$60.

Cafe coffees/snacks: Sunday coffee from the local on the way to the toy library. Might get a croissant each. $30.

Savings: $80k loan to my parents, and about $20k in the bank account. $40k in various stocks. $100k in KiwiSaver/overseas pension funds.

I worry about money: Sometimes.

Three words to describe my financial situation: Comfortable. I worry about retirement.

My biggest edible indulgence would be: Danish from the bakery, my local does particularly good ones. But they’re $8.50 each.

In a typical week my alcohol expenditure would be: $0. I don’t drink often, but when I do it’s usually four or so pints as it’s usually social, so then it jumps to $60. I don’t like to get too drunk these days.

In a typical week my transport expenditure would be: $30 for fuel, I do a short kid drop-off in the car twice a week, which means I fill about once every two to three months. Maintenance and insurance once a year adds around $2,000 to that every year. I otherwise ride my bike everywhere for commuting and personal transport, which I service once a year to a cost of around $400. I top up my bus card once a year with about $100.

I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $2,000. Fresh undies and a bit of a splurge at Uniqlo when I was in Melbourne. My wife would be similar.

My most expensive clothing in the past year was: A new puffer. $150.

My last pair of shoes cost: $105. Canvas sneakers. My wife bought new heels and they had a 30% off the next pair so I replaced my existing ones.

My grooming/beauty expenditure in a year is about: $200. Haircut every two months at about $30 a pop. I use an electric razor for the beard, and a safety razor for the neck/edges which costs $30 per year, max.

My exercise expenditure in a year is about: Zwift (at-home spin class thing) membership of about $30 per month. Sometimes the trainer and or bike needs maintenance. $500, every two years.

My last Friday night cost: Zilch. I was staying with my brother at his house.

Most regrettable purchase in the last 12 months was: A new webcam, my old one broke and I regret buying my current one. It was expensive and it is terrible, but I can’t bring myself to throw away a brand new item that was expensive, even if it doesn’t warrant its price tag.

Most indulgent purchase (that I don’t regret) in the last 12 months was: A new bike.

One area where I’m a bit of a tightwad is: Using the car. I love to walk or cycle everywhere. Saves money, good for the planet, good for the soul.

Five words to describe my financial personality would be: Squirrel the small stuff, splash on something big.

I grew up in a house where money was: Comfortable. Talked about. But never in explicit amounts.

The last time my Eftpos card was declined was: Last month ish? I tend to transfer money into my checking account in small increments to keep a track of my spending. Sometimes I lose track, and my card declines. Kind of embarrassing. But it keeps my spending in check.

In five years, in financial terms, I see myself: In the same position would be a good result. Kid #2 hopefully and my wife working less or 0 hours means financial progress forecasting appears limited.

Describe your financial low: About 15 years ago, I was irresponsible, spending money to impress a girl. I had to borrow money to put petrol in my car to get to work.

I would love to have more money for: A cargo bike. They’re expensive. But I could then ditch the car and do the drop off and commute in one go.

I give money away to: I have a small Sharesies account for my kid, and I always by an item if there’s a local child with a stall. I live in a “lively” inner-city suburb, so sometimes buy lunch for some of the “regulars” in the village.