My Money Sorted: Mireia

My Money Sorted is our series exploring people's experiences and views about money on their journey to living sorted. We spoke with Mireia, 22, who lives and works in Wellington as an adviser in the investment team of a large government agency. For her, financial freedom is important for people to be able to have the power to walk away from any job, situation or relationship that compromises safety or wellbeing. 

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

The best advice I had growing up was to use my money towards experiences rather than material things. I was always encouraged to save for travel. Thanks to this, I always prioritised exploring new countries, cultures and trips over using my money towards buying branded clothes or things that didn’t bring me as much value. 

Are you a spender or a saver?

Definitely a saver! I have a cash-flow system, so the moment I receive any income, I have it automatically transferred into other accounts such as my investments, travel, savings and project accounts. I only spend what I have budgeted for. I even have a buffer account so if I want extra money for ‘play’, it's from a separate account so I avoid dipping into my savings.

What’s a memorable money moment?

When I saved up to pay for my ticket to go over to Spain for a month. I worked two jobs after school to save up enough for this trip while I was in year 13. I felt such a sense of pride knowing that I paid for my own ticket and had budgeted enough that I was able to treat my family while I was overseas. The value, love and connection I got from that trip is what truly reinforced how much joy having money can bring. 

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

Knowing that I have my emergency account topped up. This gives me such a peace of mind that no matter what happens in life, I have three months of living expenses saved up to give me enough time to get back on my feet.

What money beliefs have you inherited from your whānau?

Growing up for me, money was never an open topic that was discussed. I was raised by my mum and dad separately, who had polar-opposite relationships with their finances. With mum, she was a saver who avoided debt at all costs and would put everything in the bank. My father, on the other hand, is a spender and throws money at whatever brings him joy in that moment. 

As I have gotten older, I have found a great balance between being smart with my finances through budgeting, investing and saving, but also understanding that it’s important I spend money on things that bring me value and joy in my life. 

What would your bank account say to you right now?

Mine would say: “Dude… do you really need eight different accounts with me? Chill out”.

What’s your proudest money moment?

Knowing that I am now able to help my family and friends with things such as sorting their KiwiSaver. That is the power of education – it is learning something valuable and then using it to teach others and pass along the knowledge. Education equals empowerment. 

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

I get excited. Knowing that I am in the correct KiwiSaver fund along with my other investment accounts accumulating wealth, I have set ‘future me' up in the best possible position. I know I’ll have more than enough to keep traveling the world, spending quality time with my family and doing whatever will make me happy!