Real-life read: Tāwera

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

I can’t exactly recall where I heard this advice – but I have always tried to ‘sleep on’ a purchase before I make it. I aim to give myself some time to sit with the idea of making the purchase and allay any impulse buying for a few days. As a general rule, I try to give myself one day for every $25 of the item’s purchase price. It helps me to keep a handle on impulse buying, as well as determine if the item I am looking at is really something I want or need. Overall, I find that if I am still thinking about and contemplating the purchase after the given timeframe – it is usually worth it. 

Are you a spender or a saver? 

I am definitely a spender, but within reason. With a household and children to take care of, I try to keep wonton purchases to a minimum, and only really spend if the household budget allows. My wife and I give ourselves an allowance, just like we do for our children, so purchases that are for myself will come from that. 

What’s been your proudest money moment? 

My proudest money moment was being able to purchase the house that we now live in, while both my wife and I were still under 30 years old. It has provided us with security and a sense of accomplishment, which in turn has given us confidence in other areas of life. 

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

I feel sorted with money when I can provide the necessities, as well as enriching experiences for my family. With three growing children (all boys), the household food budget is quite high, so knowing that the cupboards are full and the kids want for nothing is a really prideful thing for me. 

What money beliefs have you inherited from your whānau or picked up from friends? 

My parents were never really good at saving or planning financially for the future, and I have learnt to take a different approach when it comes to my own money management. I am also lucky to have friends that are involved in different forms of commerce; having frank conversations with them about what they have seen and what I have experienced myself has helped a lot with my approach towards money. 

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

“Things will get better, just stay the course.” Coming through the Christmas and summer holiday period, the household accounts always take a hit. Presents, entertaining, camping, excursions, and activities all add up! I keep in mind that we, as a family, prepare for this time of year and remind myself that a measure of a life well lived is not necessarily reflected in how much is left in the savings account. 

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

When I think about my retirement, I would like to live a life that is secure, comfortable and content. While a lot of my outlook revolves around the idea of being surrounded by my wife, my children, my grandchildren, and their life partners – I know that in order to be able to experience that life without worry or stress, I need to continue to be financially responsible. 

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!