As part of our series exploring how New Zealanders live and our relationship with money, a ‘comfortable and secure’ 51-year-old explains his approach to finances.
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Gender: Male.
Age: 51.
Ethnicity: Pākehā.
Role: People and capability coordinator for a large charity.
Salary/income/assets: $75,000 (mine), wife $125,000.
My living location is: Suburban.
Rent/mortgage per week: $535 per week mortgage with two years remaining. Two adults and one 14-year-old daughter. Wife pays the mortgage and food. I pay all other bills.
Student loan or other debt payments per week: N/A
Typical weekly food costs
Groceries: $200 for two adults and one teenage girl.
Eating out: $100 – don’t tend to cook on the weekends.
Takeaways: $100 – only on the weekends.
Workday lunches: Bring leftovers but occasionally $25 for the odd lunch here and there.
Cafe coffees/snacks: Very rarely. $5 for a long black.
Other food costs: Spend more than I care to admit on dog food. At least $50 per week.
Savings: $1,000 a month for daughter’s orthodontic work.
I worry about money: Never.
Three words to describe my financial situation: Certainly not wealthy but comfortable and secure.
My biggest indulgence would be: Vinyl LPs. Buy a couple of albums per week.
In a typical week my alcohol expenditure would be: $100 for a night out. Once or twice every week or so.
In a typical week my transport expenditure would be: $0 – I use an ebike to get everywhere.
I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $1,000.
My most expensive clothing in the past year was: Five pairs of SAXX underwear at $60 per pair.
My last pair of shoes cost: $250 for pair of oxblood Dr Martens.
My grooming/beauty expenditure in a year is about: Shave my own head but $25 for a beard trim every two weeks. Men’s moisturiser every couple of months when a large bottle runs out, about $30 worth. Annual cost around $800.
My exercise expenditure in a year is about: Spend $150 on replacing my ebike brakes every three months or so. Lots of hills in Wellington at speed wears them out more quickly than I like.
My last Friday night cost: $150 – usually drinks and a band at Valhalla/San Fran/Meow etc.
Most regrettable purchase in the last 12 months was: Alcohol – usually the immediate morning after.
Most indulgent purchase (that I don’t regret) in the last 12 months was: Family holiday to Playa del Carmen, Mexico. First overseas holiday in about a six years.
One area where I’m a bit of a tightwad is: Non-alcoholic drinks with meals. Usually stick to free water.
Five words to describe my financial personality would be: Only spend what I have.
I grew up in a house where money was: Missing. Parents were awful with money. Meals were missed from time to time. Phone cut off. New clothes were unheard off. Literally would be searching the house for loose change to buy a pint of milk. Not much fun really.
The last time my Eftpos card was declined was: Never happens. I know whether I have cash in my account or not.
In five years, in financial terms, I see myself: Semi-retired only working for disposable income with the house paid off and teenager flown the nest.
I would love to have more money for: A bigger home. Ours is ridiculously tiny.
Describe your financial low: Arriving in Italy with no money and only the number of a mate I met in Cambridge, UK. This was about 30 years ago. Turned up on his doorstep, stayed with him for a few months until he bought me a ticket back to London and sent me on my merry way. We’re still in touch.
I give money away to: Drinks at the pub for my friends. I also give to the homeless when out and about of an evening.