As part of our series exploring how New Zealanders live and our relationship with money, a hard-working nurse who doesn’t know how long she can keep it up reveals her approach to saving and spending.
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Gender: Female
Age: 59
Ethnicity: European New Zealander
Role: Registered nurse
Salary/income/assets: $80,000 p/a salary. $650k home unit with $75k mortgage
My living location is: Urban
Rent/mortgage per week: Mortgage $275 p/w. Body corp $40 p/w plus rates, insurance and maintenance. I live alone so it’s all my cost.
Student loan or other debt payments per week: Nil. I work hard to avoid owing money and paying interest.
Typical weekly food costs
Groceries: $130
Eating out: Maybe $40 once a month for a cheap curry with friends.
Takeaways: $25
Workday lunches: Make my own
Cafe coffees/snacks: $30
Other food costs: n/a
Savings: $175 p/w into savings plus KiwiSaver 10% (balance about $150k, but that’s my only savings). I am so close to age 65 and if I want to at least reduce my hours I need to have something in the bank. I live in fear that NZ Super will be scrapped just as I get old enough to qualify, because I already had two knee surgeries and don’t know how long I can keep doing my job.
I worry about money: Always.
Three words to describe my financial situation: Secure for as long as I can keep working. Anxious about what happens after that.
My biggest edible indulgence would be: Cafe brunch with family or friends every month or two.
In a typical week my alcohol expenditure would be: Nil. I like good wine and whisky but I like paying down my mortgage and renovating my house more.
In a typical week my transport expenditure would be: I take the bus to work three days out of four, so about $2 per day with current council subsidy. Plus $7.50 p/w to park my car at work on the one day my shift doesn’t fit with bus timetables. Petrol about $20 p/w, mostly for leisure trips.
I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $1,000. I buy as much as I can in op shops. I resent paying full price for anything and I wear a uniform to work. I rarely socialise so I can get by with a very cheap casual wardrobe.
My most expensive clothing in the past year was: $79.99 for a waterproof jacket from The Warehouse for standing at bus stops in winter.
My last pair of shoes cost: $175. Unfortunately I have to buy good shoes because I have foot and knee problems and I’m on my feet all day.
My grooming/beauty expenditure in a year is about: Haircuts $150 per year. No dyes, makeup, treatments etc. My house is the only thing that gets beauty treatments!
My exercise expenditure in a year is about: $200 to have my ebike serviced.
My last Friday night cost: $10.50. Fish and chips in front of TV.
Most regrettable purchase in the last 12 months was: A painting from TradeMe that cost $120 and will be going to the op shop soon.
Most indulgent purchase (that I don’t regret) in the last 12 months was: Jo Malone Earl Grey & Cucumber cologne, $270 for 100ml. I hate makeup and hair dye etc, but never leave the house without fragrance.
One area where I’m a bit of a tightwad is: Power. I do washing and cooking at nights or weekends when rates are lower and I wear a dressing gown so I don’t have to heat the house as much.
Five words to describe my financial personality would be: Overcautious, risk-averse, saver, untrusting.
I grew up in a house where money was: Very tight. My mum was left alone with three kids at a young age. There was always good plain homemade food (made by everyone) and a Sunday drive to local beaches or hiking tracks, but no money for anything else.
The last time my Eftpos card was declined was: Never.
In five years, in financial terms, I see myself: With my mortgage paid off and six months from either retiring or at least reducing my work hours.
I would love to have more money for: Travel.
Describe your financial low: After my divorce we sold our house at a loss. After 10 years of working and doing up houses in our spare time to build up equity we lost it all. I came out with $10k and had to go back to renting.
I give money away to: Disaster organisations and collectors in shopping malls.