As part of our series exploring how New Zealanders live and our relationship with money, a government worker described how they spend and where they save.
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Gender: Female.
Age: 40.
Ethnicity: Asian.
Role: Government worker.
Salary/income/assets: $210,000 annual household income, own home with around $200,000 remaining on mortgage.
My living location is: Urban.
Rent/mortgage per week: We pay $2,350 in mortgage repayments every fortnight. The money comes from my account and my husband contributes $1,000.
Student loan or other debt payments per week: None – all paid off now, thank god.
Typical weekly food costs
Groceries: Around $300 a week for a family of three and a cat, usually at a mix of Pak’nSave, Asian grocers and the Sunday market.
Eating out: Not often, maybe once every two or three weeks. Usually under $70 each time at our favourite Malaysian place. It’s more expensive now that our son can eat a full meal by himself!
Takeaways: Husband and son have Domino’s pizzas every Friday for pizza and movie night – around $20 each time. Occasional banh mi from local Vietnamese.
Workday lunches: Bring leftovers if I can, otherwise try to find something for under $15. Husband tends to buy his lunch four days a week, but he doesn’t spend much otherwise.
Cafe coffees/snacks: Usually get the free coffee at work but will buy a or two coffee if having a meeting outside.
Other food costs: We have a small but productive veggie garden and fruit forest. We get lots of herbs, green leafy veg, tomatoes, courgettes, as well as plums, peaches, apples, bananas and feijoa. Have a worm farm and some of the vegetables (like the cherry tomatoes) have also started to self-seed. Probably costs $50 per year for seeds and soil.
Savings: Not including my KiwiSaver contributions, which is at 6%, I try to put away $700 a fortnight over a mix of savings and investment accounts, including $100 for our son through a high- growth investment account. My husband and I still keep our finances separate (out of laziness more than anything) so am not actually sure how much he puts away. He gets paid much less than me but is also much thriftier. Currently I have about $130,000 stashed in various accounts, with KiwiSaver being the main one. I’m not sure if the pension will still be around when I retire in 20+ years time, so I would like to build up a reasonable nest egg and be able to support our son and loved ones if needed. I imagine once we finish paying off the mortgage I can start saving in earnest.
I worry about money: Sometimes.
Three words to describe my financial situation: Lucky and secure.
My biggest edible indulgence would be: I just started taking collagen (mid-life crisis), which is around $70 for 350g, so I guess that would be it. Otherwise don’t really have many big edible indulgences. Maybe hosting hot pot dinners – most of the ingredients are actually pretty cheap but things like enoki and shiitake mushrooms can be pricey.
In a typical week my alcohol expenditure would be: $0 – we don’t drink.
In a typical week my transport expenditure would be: Usually bike everywhere, around $20 for petrol and maybe $10 for public transport.
I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: Around $1,000. I like to buy secondhand or ethical, NZ-made clothes (especially if they’re on sale). Am also slowly incorporating more merino undergarments into my wardrobe because they’re more comfortable on multi-day tramps, and they’re spendy.
My most expensive clothing in the past year was: $215 for a quilted jacket from Kowtow (on sale) – kept me warm and cosy all winter.
My last pair of shoes cost: $20 leather sandals from Trade Me – wore them to death over summer and they still look in mint condition!
My grooming/beauty expenditure in a year is about: I get $45 haircuts every three months from a nice Japanese lady. Use a mix of Korean skincare and supermarket cheapies. Don’t wear much makeup but when I do I use Aleph Beauty, which never seems to run out. Total cost is around $300 a year. My favourite beauty treatment is a foot spa (warm to hot water in a bucket, with some Epsom salts and lavender oil) – so relaxing and so cheap.
My exercise expenditure in a year is about: $1,500 a year for gym membership. One of my biggest yearly expenditures but so worth it for my mental health and wellbeing. I go around four times a week and use the sauna too. Also like to hike and be out in nature, which is mostly free.
My last Friday night cost: $90 for three delicious pizzas (not Dominos!) and a carton of Duck Island ice cream.
Most regrettable purchase in the last 12 months was: Actually struggled to think of something. I tend to do a lot of research before I buy anything expensive (as in over $50). But I also like to buy clothes off Trade Me and there have definitely been a few duds.
Most indulgent purchase (that I don’t regret) in the last 12 months was: Pottery-making related purchases. Have probably spent around $1,500 in the past year on lessons, clay, glazes, firing costs, and studio membership. Worth every penny and is my current mid-life hobby.
One area where I’m a bit of a tightwad is: Probably having a night out. There are so many great restaurants in my city that I haven’t been to, because I don’t drink and I go to bed at 9pm. We try to support local businesses, so when we do eat out we tend to stay within our neighbourhood, which actually has an amazing selection of restaurants and cafes. I definitely believe in supporting the local economy and will always try to spend my dollars locally whenever possible.
Five words to describe my financial personality would be: Sometimes splurgy but always saving.
I grew up in a house where money was: Available when needed. Both my parents grew up very poor but had successful careers later in life. I had an inkling we were middle class and comfortable (had piano lessons and even tennis lessons at one stage), but we were not showy with our wealth – basic clothes, basic cars, that sort of thing. I definitely inherited my thriftiness from them, although they probably think I spend too much on things I don’t need… I know I will likely stand to inherit quite a bit from them when they pass, which definitely adds to my sense of security, even if it’s not something I think about a lot. I have a strong desire to be able to do the same for the next generation (my son as well as other younger family members).
The last time my Eftpos card was declined was: Probably when I was at uni or just after graduating (at least 12 years ago now).
In five years, in financial terms, I see myself: Being almost mortgage-free and able to save more, having a more senior (and therefore higher paid) role at work, but also having a side hustle that is based around my creative pursuits.
I would love to have more money for: Helping out friends and extended family and giving to causes I believe in. A bit selfishly, would also like to have more holidays.
Describe your financial low: The most recent memory was probably after buying our house seven years ago, emptying out our savings and having to do remedial work on an unconsented bathroom. Still, a much more privileged position than many others.
I give money away to: I have automatic monthly donations to KidsCan, Free Palestine, City Mission, and local media like E-Tangata and The Spinoff. Also give monthly donations to my temple.
