Latest news with #TheCostofBeing
The Spinoff
a day ago
- Business
- The Spinoff
The cost of being: A high school teacher dreaming of life without checkout anxiety
As part of our series exploring how New Zealanders live and our relationship with money, a Want to be part of The Cost of Being? Fill out the questionnaire here. Gender: Female. Age: 44. Ethnicity: NZ European. Role: High School teacher and head of department. Salary/income/assets: $113,000 before tax. My living location is: Urban. Rent/mortgage per week: $300 just me, a solo mum and my tween. Student loan or other debt payments per week: No other debts. Have worked really hard to pay everything off. Had built up an emergency fund but just had to spent $950 on fixing my car. So starting the emergency fund again. Typical weekly food costs Groceries: $180 for two of us. Eating out: Never. Takeaways: Never. Workday lunches: Take packed lunch, fruit, crackers, nut bar. Cafe coffees/snacks: $20 per fortnight max. Savings: 6% KiwiSaver. Saving for when I retire. Also currently saving up a $1,000 emergency fund… slowly. I worry about money: Always. Three words to describe my financial situation: Careful, inequitable, insecure. My biggest edible indulgence would be: Pams Mexican salad. In a typical week my alcohol expenditure would be: Zero. In a typical week my transport expenditure would be: $40, commuting 50 minutes per day in a small, economical car. I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $400, mainly op shop purchases. My most expensive clothing in the past year was: Jeans, bought online from the US. Almost $200. Was feeling fat and bloated and buying secondhand jeans is usually a disaster. My last pair of shoes cost: $14 from Kmart. My grooming/beauty expenditure in a year is about: Hairdressers, $800 – my only vice. My exercise expenditure in a year is about: $364, $7 per week gym membership. My last Friday night cost: Zero, stayed home as normal. Most regrettable purchase in the last 12 months was: Very expensive jeans. I like them but such a lot of money and sent my budget into panic mode. Most indulgent purchase (that I don't regret) in the last 12 months was: A four-slice toaster from Kmart. Has transformed my life! One area where I'm a bit of a tightwad is: Is it a want or a need? 99% of my purchases are 'need' only. Five words to describe my financial personality would be: Cautious, anxious, frugal, prudent, creative. I grew up in a house where money was: Not discussed but for about a decade it was enough for family holidays twice a year. The last time my Eftpos card was declined was: June 2024. In five years, in financial terms, I see myself: In a similar position as now. Carefully budgeting. Worrying how I will support my child through university. Describe your financial low: Domestic violence and financial abuse, new baby, no job, huge debts, continued abuse and legal stress. I would love to have more money for: Ensuring my child can go to university. Going on holiday without the prospect causing undue financial stress. Going to the supermarket without anxiety at the checkout. Paying my rates bill that had increased by almost $800 per year. I give money away to: Saving for my child's future. Occasional Givealittle causes or fund raisers that I empathise with.
The Spinoff
5 days ago
- Business
- The Spinoff
The cost of being: A dentist getting ready to go on maternity leave
As part of our series exploring how New Zealanders live and our relationship with money, a dentist explains where their money goes. Want to be part of The Cost of Being? Fill out the questionnaire here. Gender: Female. Age: 31. Ethnicity: New Zealand. Role: Dentist, about to go on maternity leave. Salary/income/assets: 2023-24 $146,000; 2024-25 projected $98,000. My living location is: Urban. Rent/mortgage per week: Mortgage $1272/fortnight, so $636/week – shared between my husband and I. Student loan or other debt payments per week: Student loan has $35,819 remaining (down from a high of $98,500). Approximately $13000 repayment per year, so $250 a week. Typical weekly food costs Groceries: $90-100 per week at Pak'nSave, shared with husband. Eating out: We tend to go out for dinner once per fortnight – $100 for that, but we try and use First Table where possible. Takeaways: $20 pizza or fish and chips, usually once per month. Workday lunches: Never, always bring in leftovers from home. Cafe coffees/snacks: One solo cafe trip per week while at work ($6.70, decaf) and one cafe trip with husband on the weekend ($20 – two drinks and a scone/muffin). Other food costs: $15/month on seeds/plants from garden centres. Savings: $200 per fortnight into an account for extra mortgage repayments, $100 for emergency fund, anything extra into joint account with husband, $10 per week into new savings account for unborn daughter. I worry about money: Sometimes. Three words to describe my financial situation: Lucky, focused, nervous. My biggest edible indulgence would be: Tajin, a Mexican chilli-lime salt from import stores. In a typical week my alcohol expenditure would be: Currently, none. When not pregnant perhaps $10/week. In a typical week my transport expenditure would be: $30 for petrol to and from work – I drive a fuel efficient Suzuki. I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $1,500. My most expensive clothing in the past year was: A pink and white chequered dress from KILT, $159. My last pair of shoes cost: $80 Adidas Advantage shoes on sale – had to size up due to my feet getting bigger in pregnancy! My grooming/beauty expenditure in a year is about: Haircuts, 3-4 per year at $75 each. Makeup, approximately 4-6 mascaras at $20 each, and one Hawaiian tropic sunscreen each month (including winter) at $16 each. Total cost perhaps $800/year. My exercise expenditure in a year is about: Two pairs of sneakers and one pair of leggings and a sports top per year – $350. My last Friday night cost: $20 – brought food over to my sister's for a potluck. Most regrettable purchase in the last 12 months was: The aforementioned KILT dress. I didn't realise it was see-through! Most indulgent purchase (that I don't regret) in the last 12 months was: A banana mirror from Simon Lewis Wards on sale for $1000. I had eyed it up for nearly a year and had a dedicated savings account for it. It makes me smile every time I see it in my house. One area where I'm a bit of a tightwad is: Movies. I love going, but seeing the ticket cost (without food or drinks) top $20 recently means I rarely do it any more. Five words to describe my financial personality would be: Conscientious, occasionally indulgent, spreadsheets, lucky. I grew up in a house where money was: Available but used on 'big' things rather than small (e.g. buying home brands at the supermarket). Had some great holidays which I will always remember with my family growing up; and my parents stressed the importance of paying off the mortgage as soon as possible. The last time my Eftpos card was declined was: 2018, when I was a student at the supermarket. In five years, in financial terms, I see myself: Working part-time, secure, ideally half of the mortgage paid off and with a 3-6 month emergency fund. Describe your financial low: Starting my first job six years ago – not much money in the bank, monthly pay not due for another three weeks, and bond due for the rental house. Was a very tight three weeks with a lot of toast eaten in the staff room. I would love to have more money for: Travel!
The Spinoff
02-06-2025
- Business
- The Spinoff
The cost of being: A 23-year-old living at home, focused on saving
As part of our series exploring how New Zealanders live and our relationship with money, a young public servant who finds it hard to make 'fun' purchases shares the ins and outs of his finances. Want to be part of The Cost of Being? Fill out the questionnaire here. Gender: Male. Age: 23. Ethnicity: NZ European. Role: Policy adviser at a regional council. Salary/income/assets: Salary of $84,000 p.a. Total savings of approximately $45,000. This is made up of around $20,000 across various investments, $15,000 in KiwiSaver, and $10,000 in liquid bank accounts. My living location is: Urban. Rent/mortgage per week: I am fortunate enough to be living at home, with my parents not asking for any rent so I can save some money. I was previously paying $300 per week before moving home (which was a key reason for doing so!) Student loan or other debt payments per week: Student loan of approximately $30,000 with no other debt payments. Typical weekly food costs Groceries: I cook once or twice a week for my family (six of us living together), and bake a lot. I do tend to grab snacks from the supermarket fairly frequently, and all up it tends to come out to $70-$100 a week. Eating out: I do not typically eat out unless it's a special occasion, in which case I always try nab a deal on First Table. Would likely average out to $50 a month. Takeaways: $10 a week if that – I prefer to cook. Workday lunches: I always bring leftovers or make sandwiches, genuinely can't remember the last time I purchased lunch out which I am quite stoked with! Cafe coffees/snacks: $10-$15 a week. My partner and I love a cruisy stroll down to our local cafe, and tend to alternate weeks shouting ourselves a coffee and treat. Savings: With limited expenses, I save $1,900 a fortnight. This is split between long-term investments in a managed fund ($1,000), building up shorter-term savings for any travel, relocation, or big expenses in the next few years ($600), and setting aside spending money for a booked trip overseas ($300). I worry about money: Sometimes. Three words to describe my financial situation: Privileged, improving, secure. My biggest edible indulgence would be: Pastries (namely croissants) from my local cafe. In a typical week my alcohol expenditure would be: $0, I drink maybe once or twice a year. In a typical week my transport expenditure would be: $20. I bike to and from work, and will top up the family car for any fuel I use on longer trips. I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $500. I've purchased a bit of activewear and some work clothes, but nothing crazy. Most tends to be on sale. If this includes shoes then it probably balloons to $1,500 – I run a lot and tend to wear through shoes within a couple months. My most expensive clothing in the past year was: $150 for a pair of Lululemon work pants (highly recommended and so worth the price!) My last pair of shoes cost: $180 for a pair of new runners. My grooming/beauty expenditure in a year is about: A replacement moisturiser and cleanser every now and then costs about $80 a year, while a haircut every two months or so means around $500 for the year. My exercise expenditure in a year is about: $1,000. No gym membership but a lottttt of shoes. My last Friday night cost: $0. I went for a bike ride to make the most of some nice weather, before cooking dinner and spending the evening reading. Most regrettable purchase in the last 12 months was: A gym membership I used intermittently for about two months before cancelling. There was no fixed period on the membership so it didn't cost much, but I just didn't have the time to go anyhow so not sure why I thought getting a membership would change that. Most indulgent purchase (that I don't regret) in the last 12 months was: A secondhand road bike off Facebook Marketplace. Cuts my transport costs right down and is so much fun to ride. One area where I'm a bit of a tightwad is: Fun purchases – I find it hard to make purchases 'just because' or as a treat. I sometimes find myself feeling guilty spending my money on frivolous things, as I think I would be better off saving. Five words to describe my financial personality would be: Risk-averse, knowledgeable, sensible, trying, fluctuating. I grew up in a house where money was: Never really discussed at a family level. I think we had less than I was aware of, especially due to being a part of a large family where costs can just pile up out of nowhere, but my parents raised us with so much love that you don't tend to notice. We're comfortable now, and it's something I try and be really grateful for. The last time my Eftpos card was declined was: Last week, trying to buy a hot chocolate. The chip in my card doesn't work most of the time, so while I normally get by on Paywave, when it is not available I can't buy anything. I then tried my credit card, not seeing the 'no credit' sign and felt horrible with how much I was delaying everyone else. I immediately ordered a new card. In five years, in financial terms, I see myself: More stressed (hopefully) with a mortgage looming over me after doing some travelling. Describe your financial low: In one of my last years of university I had to pay rent for two houses at the same time, due to the crossover of the leases. This sucked, especially as I wasn't yet working full time so any money I did make just felt like it was vanishing into thin air. I would love to have more money for: Travel – it would be nice to have enough to travel comfortably without bottoming out the bank account and having to immediately find a job upon returning. I give money away to: Treating my family every now and then.
The Spinoff
29-05-2025
- Lifestyle
- The Spinoff
The cost of being: A rural professional who gets most of their food for ‘free'
As part of our series exploring how New Zealanders live and our relationship with money, a rural professional unpacks the costs and benefits of living on a farm. Want to be part of The Cost of Being? Fill out the questionnaire here. Gender: Female. Age: 27. Ethnicity: Pākehā/Māori. Role: Rural professional. Salary/income/assets: $75k per year salary, I've got $70k split across savings, term deposits, and investment schemes. My living location is: Rural. Rent/mortgage per week: Nothing – it's just my husband and I for now, the house comes with his job (working on a farm). Technically he gets a rent allowance so a bit of tax does come out of his paycheque for it. Student loan or other debt payments per week: Nothing – all paid off! Typical weekly food costs Groceries: It fluctuates – we don't have a proper supermarket nearby so might spend $60-80 for the two of us at the local shop each week but we'll go to town every few months and spend closer to $300 at the supermarket. Our living situation means we don't have to buy meat, milk or eggs, and I (try to…) grow most of our veges. Eating out: Town days often end up being an exhausting 16-hour round trip so we'll end up eating our way around. Might spend $200-300 for the two of us if we end up catching up with people and eating both lunch and dinner out. Takeaways: $50 every couple months. Workday lunches: Usually I eat at home or take lunch, will spend $15 once a month or so if I'm traveling for work. Cafe coffees/snacks: Nothing. Other food costs: Most of our meat is either from the farm or hunted so that's 'free', but we also have our own milking sheep, and I keep poultry for meat and eggs – we'd spend $100/month on animal feed and $100/year for vege garden stuff. Getting our food this way probably isn't any cheaper than buying it, especially factoring in the massive amount of time we spend at it. Plus, there are other costs like our electricity bill being a bit higher due to running a giant freezer. But we enjoy it, and it gives us access to quality food in an area where options are very limited. Savings: $500/fortnight goes into my investment account automatically, and I transfer lump sums into my savings account when I remember every couple of months. No particular goals at the moment – kids I guess…? I worry about money: Never. Three words to describe my financial situation: Secure, comfortable, low-cost. My biggest edible indulgence would be: Whittakers. In a typical week my alcohol expenditure would be: Nothing – some health issues have taken all the fun out of alcohol for me. Which is a good thing I guess? In a typical week my transport expenditure would be: I've got a work vehicle and don't go out much under my own steam so most weeks, it's nothing. Town trips are a full $120 tank of fuel. What's public transport? I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $250, most of that being the jersey (see below) – work pays for my weekday clothing. My most expensive clothing in the past year was: $120 for a NZ wooly jersey that I wore nonstop all last winter. I bought it at the end of the previous winter… Just like I buy my shorts at the end of summer. My last pair of shoes cost: $340 for a pair of hunting/tramping boots. My grooming/beauty expenditure in a year is about: $200 – I don't wear makeup and I'm stingy so my shampoo lasts forever, but I spend a lot of time outdoors so invest in good sunscreen and moisturiser. My exercise expenditure in a year is about: My exercise is all hunting and tramping, so a new set of boots every couple years, maybe some fuel if I'm going further afield, that's about it. My last Friday night cost: Nothing – cooked some steaks and played board games with friends. Most regrettable purchase in the last 12 months was: One advantage of living so far from town is you are forced to really think through purchases before you get there. Yes, online shopping, but rural shipping is a killer and I'm too tight fisted to justify it. So no regrettable purchases! Most indulgent purchase (that I don't regret) in the last 12 months was: A big tunnelhouse – we bought the frame second hand and a new plastic cover for it, all up we spent about $1,000 on it. (Plus a lot of time faffing about but I don't even regret that). One area where I'm a bit of a tightwad is: Anything that I haven't sat on and thought about for several months. Five words to describe my financial personality would be: Just like my grandparents (almost). I grew up in a house where money was: Not the only form of wealth. We didn't have a lot of money (I still have foot problems from too-small school shoes because I felt guilty about complaining) but growing up on family land we hunted/grew/fished our kai and had acres of space to play around on. It was a safe haven for many cousins and strays which probably didn't help the financial situation. The last time my Eftpos card was declined was: About six months ago, but it was a card/machine glitch not a money problem – I had enough cash to cover and it worked fine in the next shop. In five years, in financial terms, I see myself: It all depends on the kiddie question… But I feel very well off and secure now, and have no reason to believe I won't still be comfortable in five years, whatever happens! Describe your financial low: A few times at uni, my student allowance would come through a couple days late and in order to not miss the rent payment I couldn't afford food. It would happen to the other flatmates on the allowance too so we'd all be hard up at once. We got by nicking crops out of the university fields on more than one occasion. Never stole any sheep as I have heard rumours of others doing though. I would love to have more money for: I have more than enough and feel guilty for what I have already, especially with what's going on in NZ and around the world at the moment. But I wish my parents would actually let me give them some. I give money away to: Anyone selling raffle tickets outside the shop (usually kids fundraising for camps or the rescue chopper guys), food banks, international aid efforts.
The Spinoff
26-05-2025
- Business
- The Spinoff
The cost of being: A 45-year-old tech worker fighting ‘lifestyle creep'
As part of our series exploring how New Zealanders live and our relationship with money, an 'obsessed' saver and investor shares a glimpse into her finances. Want to be part of The Cost of Being? Fill out the questionnaire here. Gender: Female. Age: 45. Ethnicity: Pākehā. Role: Full-time in tech, no kids. Salary/income/assets: $95k salary. Modest investment earnings. My living location is: Urban. Rent/mortgage per week: $0 – I was not focused on money in my 20s and 30s, so I was incredibly lucky to get my act together and scramble onto the property ladder just in time before prices went crazy. I purchased something modest at a good price and was able to pay it off pretty quickly once the focus was there. It's heartbreaking that younger people generally don't have that luxury of taking their time these days. Student loan or other debt payments per week: $0 – no student loan. I only buy cheap cars with cash and don't crave expensive toys. Typical weekly food costs Groceries: Two adults, shared grocery bill of about $250. Eating out: We go to a cheap and cheerful joint about once a week or so and spend $40-ish. Somewhere fancy four to five times per year and spend $200+. Takeaways: $30 from the local shops once a week. Workday lunches: $15 – I BYO lunches as much as possible but might get something once a week. Cafe coffees/snacks: I can't bring myself to buy coffee, it has gotten so expensive, but occasionally I'm too haggard and need it – $10 monthly. Savings: I'm a little bit obsessed with building a retirement nest egg right now. Currently putting away $500 per week into long-term investments and trying to not let lifestyle creep be a thing. I've been frugal for years while paying down the mortgage as quickly as possible, and it was a grind, so I'd like to also save for a overseas trip and celebrate the milestone. I worry about money: Rarely. Three words to describe my financial situation: Lucky, privileged, grateful. My biggest edible indulgence would be: Hot chips. In a typical week my alcohol expenditure would be: $10 – a quiet beer or a wine at home. I'm not the party animal I used to be. In a typical week my transport expenditure would be: $25 petrol, $20 buses. I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $600 – I try to pick sustainable underwear brands and quality secondhand clothes as much as possible. My most expensive clothing in the past year was: $60 a secondhand wool jumper. My last pair of shoes cost: $100 hardly worn secondhand leather boots that should last me a few winters. My grooming/beauty expenditure in a year is about: $1,500 – this is probably where the most lifestyle creep has occurred as I get older. Expensive hair appointments three times per year, facials and nice skincare. My exercise expenditure in a year is about: $650 gym membership, $100 sneakers. My last Friday night cost: $0 – movie, snacks and a cheap wine at home. Most regrettable purchase in the last 12 months was: Not much, maybe an overpriced cocktail or something – I'm pretty careful these days, but when I make a mistake I shrug and move on quickly. Most indulgent purchase (that I don't regret) in the last 12 months was: Bitcoin – maybe a regret or maybe the best investment ever, but it will be an interesting experiment and I'm ok with either outcome. One area where I'm a bit of a tightwad is: Coffee. Five words to describe my financial personality would be: Learning, evolving, repairing past mistakes. I grew up in a house where money was: Stable but not abundant, with a basic old-school approach to things. I have always worked and earned my own money, but I had to teach myself modern concepts of budgeting, credit, saving and investing. Podcasts have been a great resource. The last time my Eftpos card was declined was: A few months ago. I forgot what was in the account and had to shuffle funds from one account to another then put it through again. In five years, in financial terms, I see myself: On my way to financial security in retirement. Still working and saving but enjoying a few treats here and there. Describe your financial low: I have been very fortunate to have steady work most of the time and a parental safety net when I was young. I was broke and unemployed a few times in my teens and 20s but never felt stressed about fixing the situation. I would love to have more money for: Supporting local artists, events and businesses. I try to do what I can but I'm not a big spender overall so my impact is not huge right now.
