As part of our series exploring how New Zealanders live and our relationship with money, a governance advisor in their late-20s explains what they spend their money on. This instalment of The Cost of Being is brought to you by Westpac.
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Gender: Female.
Age: 29.
Ethnicity: Pākehā.
Role: Governance advisor.
Salary/income/assets: Income $107k, asset one car, currently house hunting.
My living location is: Suburban.
Rent/mortgage per week: Rent is $420 per week between two of us for a three-bedroom unit (we rent from family, so get a really good deal).
Student loan or other debt payments per week: I pay about $180 from my salary a week in student loan repayments. No other debts.
Typical weekly food costs
Groceries: We budget $200 a week for two of us but will often go over – we have a lot of room to cut back if need be.
Eating out: We go out maybe every other month and will spend $250-$300 on a nice dinner.
Takeaways: $80ish a week? Sometimes more, sometimes less.
Workday lunches: I’m really good at bringing food from home, so maybe $30 a month.
Cafe coffees/snacks: I bring a coffee from home but love a second coffee sometimes, so maybe $15 a week?
Other food costs: We do have a veggie garden but grow from seeds purchased two years ago, so just the cost of soil if needed.
Savings: Between my partner and I, we save around $3.5k a month, which is mostly going towards our house deposit right now. I save an extra $800 a month in my personal account.
I worry about money: Sometimes.
Three words to describe my financial situation: Secure, optimistic, BETTER!
My biggest edible indulgence would be: A tub of pesto – sometimes I just need to do it.
In a typical week my alcohol expenditure would be: If I’d answered this last year it’d have been a lot different answer, but right now not more than $10 a week, if that.
In a typical week my transport expenditure would be: $0 – I have an EV (actually maybe $15 a month for power?), and my partner’s petrol is paid for by his work. We carpool into town together.
I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: I hardly ever buy myself clothes… I did spend $200 on a dress recently for an upcoming run of weddings. So maybe $2000 in the past year?
My most expensive clothing in the past year was: The $200 dress! Very expensive for me…
My last pair of shoes cost: $49.99 – a pair of sandals for a formal dinner.
My grooming/beauty expenditure in a year is about: I get my nails done every three weeks which is around $100 and my legs waxed every three weeks which is $85. I don’t wear makeup apart from mascara but I do get my eyebrows microbladed. Soooo including skincare… $5,000 a year?
My exercise expenditure in a year is about: Gym membership is $16 per week, and just purchased a new swimsuit, estimate $1,000 per year.
My last Friday night cost: $400… but it was a bachelorette so that was for a full weekend trip away!
Most regrettable purchase in the last 12 months was: I have purchased three PlayStation games in the last year that I have not played…
Most indulgent purchase (that I don’t regret) in the last 12 months was: I spend a lot of money on books. I have about 50 books that I haven’t read yet. But I love my book collection and regret nothing.
One area where I’m a bit of a tightwad is: I hate spending a large amount of money on one thing. I’m terrible for buying cheaper quality things and then needing to replace them quicker. It’s something I’m working on!
Five words to describe my financial personality would be: Impatient, impulsive, learning, risk averse.
I grew up in a house where money was: Not really spoken about. I found myself in a lot of debt as soon as I left home because I was a fool who didn’t understand credit cards.
The last time my Eftpos card was declined was: Probably within the last couple weeks – I transfer money whenever I want to spend it instead of leaving it sitting in my account, and sometimes I forget to check!
In five years, in financial terms, I see myself: Living in my own home with my partner (hopefully my spouse at that point…) with maybe(?) one child and $100k in savings/investments.
I would love to have more money for: Books! I’ve been put on a self-imposed spending ban :P
Describe your financial low: Five years ago, I was $15k in debt, no savings, part-time job on minimum wage living paycheck to paycheck and absolutely stressed about my finances with no real financial literacy. I’ve come a long way.
I give money away to: SPCA and City Mission.
