Real-life read: Monnie

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

“Don’t spend money you don’t have”, which is something I’ve always lived by. I’ve never been one to have credit cards or loans outside of my mortgage because I hate the feeling of always playing catch-up. It can be hard, especially in the current climate, when the cost of living is so high and it feels like things are really unattainable, but making sure you know exactly what money you’ve got, where it’s going and what changes you can make is really helpful. 

Are you a spender or a saver?

I’d say a little bit of both, although I’m probably more of a saver and I’ve only ever really spent on necessary things. We use the 20% rule when it comes to saving, which means that as soon as we get paid, we send 20% straight to our savings, then the bills get paid, and anything left over is spending money. Of course, I like to splurge every now and then, but I prefer to spend on experiences  that will make memories, such as holidays or camping trips with my family.  

What’s been your proudest money moment?

It would probably have to be building our own home. My husband and I have always been pretty smart when it comes to spending and saving. We’ve had a lot of discipline over the years, which has helped us get to where we want to be. We bought a house in Auckland before the market took off, which means we were lucky enough to be able to use the capital on our home to then buy an investment property; this was back when you didn’t need such a high deposit. When we became parents, we knew we wanted to move out of Auckland. We had a dream of living on a lifestyle block close to the beach, so we could raise our kids as close to nature as possible, and that’s where we are now. My husband’s a builder, so he took a year off work and built our home himself while we lived in a tiny home on the section. That meant we saved a lot on labour and mark-ups, and just used my income to keep us ticking over.  

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

Being organised. I like to know when bills are coming in and money’s going out, and to make sure we pay things on time to help avoid those high-interest cycles you can easily fall into. I use spreadsheets to track my spending, have separate accounts for bills – along with another for GST, one for tax (because we’re contractors), one for emergencies and one for savings – and try to have all the bills come out at the same of the month, so they’re easier to track.   

What money beliefs have you inherited from your whānau?

I learned the importance of spending within your means. I’m one of eight kids, so we had a very simple upbringing; we had everything we needed but it was hard to get the things we wanted. Seeing my parents struggle so much to be able to provide us with everything we had has guided me throughout my adult life, and helps me stay grounded and really grateful for what we have today.  

If your bank account could talk, what would it say?

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

Travel. We’ve been fortunate enough to get in a lot of travel already, but I see myself taking nice long trips, with my kids and grandkids joining on some. I see myself just enjoying life, daily beach walks and yoga, surrounded by good friends and family – mortgage free, of course.