The cost of being: A dad and first-time homeowner who hates sneaky fees

As part of our series exploring how New Zealanders live and our relationship with money, a 35-year-old working in finance explains his approach to spending and saving.

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Gender: Male

Age: 35

Ethnicity: Māori/NZ European

Role: Finance

Salary/income/assets: Personal $175K salary. Half share of following other assets with partner: 30% equity in home and $30K term deposits, $20K Kiwisaver, $15K shares and $15K car.

My living location is: Urban

Rent/mortgage per week: $1,659 per week mortgage, myself, partner and child.

Student loan or other debt payments per week: Thankfully cleared.

Typical weekly food costs

Groceries: $250 shared between two adults, one child and one dog.

Eating out: $60-70 every other week.

Takeaways: $50-60 if having a night of takeaways, max one night a week usually every second week.

Workday lunches: $15 from the supermarket near work couple times a week, otherwise skipped or working from home.

Cafe coffees/snacks: Rarely or as an alternative to a workday lunch.

Savings: Half share of the following: some emergency money $200, $50 to a travel fund and around $20 to index ETF shares, $800 to an account to pay down mortgage on refix.

I worry about money: Always.

Three words to describe my financial situation: Lucky, conservative, weary.

My biggest edible indulgence would be: Triple Choc Cookie Time.

In a typical week my alcohol expenditure would be: $22 on a box of Wakachangis.

In a typical week my transport expenditure would be: $100 petrol for car (exclusively near home and weekend), otherwise I commute by bike.

I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $300. New shirt for a wedding and some runners. I still wear shirts from my early 20s.

My most expensive clothing in the past year was: $69 white collared shirt from AS Colour.

My last pair of shoes cost: Allbirds shoes, $150 on sale.

My grooming/beauty expenditure in a year is about: $40 haircut every three months.

My exercise expenditure in a year is about: $400 for bike service and replacement of clothing if need be.

My last Friday night cost: $0.

Most regrettable purchase in the last 12 months was: Netflix/Spotify.

Most indulgent purchase (that I don’t regret) in the last 12 months was: First home.

One area where I’m a bit of a tightwad is: Money grabs from corporates that give no value to me. Credit card fees, service fees, paywave fees, “tipping”. If there is a cheaper option ie Eftpos, cash, bank account transfer, that’s it. If you request tips I will never return or use the service again – pay your staff correctly or adjust your pricing.

Five words to describe my financial personality would be… Conservative, minimalist, desolation of Smaug.

I grew up in a house where money was: Very tight, never knew when money was coming in, a yoyo.

The last time my Eftpos card was declined was: December due to banks having issues with card processing. Only use Eftpos/debit so constantly looking at my balances.

In five years, in financial terms, I see myself: Less nervous, on track to pay down a substantial portion of the mortgage.

I would love to have more money for: Thinking of having another child – do not know how people do it on lower incomes these days.

Describe your financial low: Moving country and breaking a lease, landlord would not take new tenants as they didn’t like non-European names applying. Unemployed and paying two rents in two different countries.

I give money away to… Animal Evac NZ, Save the Kiwi, Surf Lifesaving, Electronic Freedom Foundation.