Real-life read: Matt

What’s the best money advice you’ve ever been given? 

Open an emergency fund with another bank. Not only is it a great safety net for the ‘what-ifs’ life throws at you, but it also brings peace of mind that alleviates stress. As someone who recently faced uncertainties regarding my career, having the equivalent of a few months’ outgoings stashed away really helped me combat stress. Having the account with another bank means I’m not constantly looking at it, and I’m gaining interest too. 

Are you a spender or a saver? 

I would absolutely have defined myself as a spender until a few years ago. A trip to Japan with Mereana in 2023 was our last big blowout before we seriously considered saving for our future. Two years later, we’re consistent with our savings and about to welcome our first child! We still treat ourselves here and there, but there’s only so much time in the day for our hobbies – or space for another Lego set. There will be even less after the arrival of our son, who we’ll happily be spending our time and income on. 

What’s been your proudest money moment? 

Paying myself first, watching my savings grow over time, and overcoming the urge to dig into them for things I don’t need. The eureka moment of mastering weekly automatic payments to pay yourself first is a positive shockwave that’ll continue through the rest of your life; you’ll be truly surprised how much you can save when you transfer a fixed amount into a savings account each week. I’m still too risk averse to invest in shares, but that doesn’t mean I can’t make my money work for me in small ways. 

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

Maintaining a weekly record, whether a digital spreadsheet or handwritten document, that tracks my incomings and outgoings. I like to visualise things, so having it laid out in front of me is a huge help. I can see how much is left over each week and if I need to adjust for any upcoming bills. 

What money beliefs have you picked up from friends? 

“You can’t take it with you” is a phrase I’ve heard a lot from friends. I think it can be interpreted in multiple ways, and it’s absolutely circumstantial how it changes your spending habits. As someone who’s planning to have a few kids, I’d like to ensure they’re set up financially and don’t inherit any debt. That said, I’d still like to splurge a bit before I go! 

If your bank account could talk, what would it say to you right now? 

“Things are going to get harder when you take on a mortgage and family responsibilities, but if you keep your spending habits as consistent as they are now, you’ll make it work.” 

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

Currently, I see a mortgage-free retirement that won’t put any financial stress on my future tamariki. I see a bit of travel, but mostly time spent with my family and engaging with my hobbies. I imagine I still won’t have outgrown Lego by then. 

If you’d like to join the conversation and share your own experiences with money, we’d love to hear from you. Fill in this form, and we’ll get back to you. Ngā mihi!