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My Money Sorted

My Money Sorted: Daniel

12 December 2023
Reading time: 5 minutes


Posted , 1 Comments

A bit about Daniel: My name is Daniel and I was born overseas and now live in New Zealand.  I grew up in a small community where everyone knew a bit about you and there were always plenty of other kids around to play with outside.  I’ve always enjoyed playing and watching sports so you can find me with a beer and a jersey watching the All Blacks! 

 

What is the best money advice you’ve been given? 

I grew up the youngest in a family of 6, so I never really noticed family spending.  I was aware enough to realise that money was always a bit tight, but we always found a way to have a good meal at dinner time.  I guess the advice I inherently learned was to only eat out on special occasions.  Our special occasion growing up was going out to eat once a week on Sundays. This also makes it feel more special when you do. 

Are you a spender or a saver?

Definitely a saver!!!!  I’m not sure why, but my entire life I’ve been a saver when it comes to most things.  I guess I like the idea of saving money by not buying the little things, so I can purchase larger items with my savings.

 

“Unless you really want that new car smell, your money can go further when you buy second hand. ”

Daniel

What’s a memorable money moment? (success or learning)?

I’m a saver of money and once I had enough cash to purchase a new car!  I was really excited to experience that ‘new car smell’ and drive the car off the lot for the very first time.  When I went to sell the car a few years later, it had lost about 30% of its value.  Unless you really want that new car smell, your money can go further when you buy second hand.  The person that purchased my car got a great deal.  Now, that experience is behind me and I would prefer to purchase a pre-owned car with low kilometres.  More bang for your buck. 

What makes you feel Sorted when it comes to your money?

What makes me feel Sorted with my money is having a budget.  I’ve also enjoyed counting and was good at math in school, so each fortnight I plan a budget.  It mostly stays the same - but knowing I’m putting money away for things like the power bill, internet, water, etc… each fortnight makes me feel on top of things.  So, when those expenses are due, the money is already there and it feels like no big deal. 

What money beliefs have you inherited from your friends and whānau?

My close friend would always tell me, money will be replaced, when trying to justify their spending habits.  This would help me to spend a bit more on entertainment and shopping rather than saving like I was accustomed to doing.  I do believe that you must live your life and enjoy the things you can afford.  However, I would say what makes me feel comfortable is knowing I have money in an interest-bearing account that keeps up with inflation.      

What would your bank account say to you right now?

Haha, I think they would say “here, have some money so we can charge you interest.”  I think I would say “can I open up just one more account so I can allocate money for things that pop-up – like a speeding ticket, or small jobs.”  

What’s your proudest money moment?

Buying a home in Auckland!  With the rising interest rates, it has become so hard to save any money like I like to.

When you think about your retirement, what do you see?

Cashing in on property that we have owned for at least 20 years and moving into a low maintenance place.  I would love to follow the summer around the world living 6 months in NZ and 6 months somewhere warm.   

With the rising cost of living, have you been budgeting differently? I.e., changed your spending habits or tightened your spending belt?

Yes, Yes, and Yes.  We’ve had to re-look at our budget each fortnight to make sure we are allocating enough to keep up with inflation.  The most concerning things are the cost of food and mortgage rates.

What are your tips to make your money go further with inflation and interest rates driving up prices?

My tip would be to try not to go overboard with Christmas gifts and New Year’s Celebrations.  I don’t think it’s worth getting into debt that lasts until Christmas rolls around again.

When it comes to day to day, do your best to save that left over meal from dinner to eat for lunch the next day.  If you have a freezer at work, try bringing in a few left-over meals and storing them there.  When money is a bit tight for that week, go to work and transfer one of the meals to the fridge.  It should be ready for the microwave when lunchtime comes around - win, win.

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Comments (1)

Comments

  • Gravatar for jack

    26 February 24
    jack

    whats up daniel you have been a inspiration to so many i loved reading your blog and it has inspired me to take out a home loan for my bmw i8 and wardrobe extension

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