As part of our series exploring how New Zealanders live and our relationship with money, a pensioner with a lifetime of ‘squirrel habits’ explains where they spend and how they save.
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Gender: Old lady.
Age: 67.
Ethnicity: Pākehā.
Role: Retired, domestic husband wrangler.
Salary/income/assets: Pension, small investment return.
My living location is: Suburban.
Rent/mortgage per week: Mortgage repaid a few years ago.
Student loan or other debt payments per week: None.
Typical weekly food costs
Groceries: Two of us, plus elder cat.
Eating out: A few times a year, mainly food court.
Takeaways: Once a month.
Workday lunches: None.
Cafe coffees/snacks: One or two coffees a week, in social settings. Not a huge fan of cafe food.
Other food costs: We have lots of fruit trees, small veg garden, so occasionally buy fertiliser, seedlings. Spray-free property.
Savings: No savings made these days. Approximately $100,000 in investments, the result of my lifetime squirrel habits. This is fallback for the three of us going forward, and I do the occasional small holiday from it. Covers emergency situations. Stopped paid work at 57 due to burnout and refocused on making every buck count. Husband has zilch so I cover him for what his pension doesn’t. Yes, he’s worth it.
I worry about money: Sometimes.
Three words to describe my financial situation: Organised, secure, frugal.
My biggest edible indulgence would be: Nuts (using my teeth while I can).
In a typical week my alcohol expenditure would be: None – alcohol is so boring. Preference for prescription drugs these days.
In a typical week my transport expenditure would be: Fill my nine-year-old Swift up monthly on special, like the occasional bus trip, still enjoying a walk, do have an ornamental ageing ebike. Love a good train ride but sadly none where I live.
I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $400? Active op shopper. My clothes are multifunctional these days. Wear the same clothes to shop, clean, garden, travel and socialise in. Still manage to look put together.
My last pair of shoes cost: New summer sandals bought online $50.
My grooming/beauty expenditure in a year is about: About $400 a year. Minimal makeup but need my lippy and blusher so I don’t look too vampiric. Just cuts every six weeks or so. Had natural white hair for yonks. Nivea for all skincare. No treatments, just me and my tweezers (sorry if that’s TMI).
My exercise expenditure in a year is about: I spend more time thinking about it than doing it. So not much. But do walk, bike ride and yoga occasionally. So about $300.
My last Friday night cost: About $6 for homemade bean nachos for two.
Most regrettable purchase in the last 12 months was: About $200 for on sale tramping boots I would not get much use out of. Realistically I’m past serious tramping. Bugger. Still dream about it though. Fortunately I was able to get a refund.
Most indulgent purchase (that I don’t regret) in the last 12 months was: Blew $4,000 on an ebike trip in the Pacific. Amazing time with a group of likeminded elder sisters. Felt like I was a kid again. So lucky.
One area where I’m a bit of a tightwad is: Everything except adventures.
Five words to describe my financial personality would be: Strong, bossy, conservative, responsible, caring.
I grew up in a house where money was: Tight. My mum was the financial controller and my dad was generous. I respect and love them both so much for that. Secondhand clothing, homegrown food, preserves and careful planning was the norm.
The last time my Eftpos card was declined was: Never.
In five years, in financial terms, I see myself: Managing our finances and my husband’s failing health. Hopefully still in our own home with some savings left. But who knows. One of the benefits of ageing is learning to live for the day.
I would love to have more money for: On a personal level, nothing. I/we have enough. We don’t have kids. But I would like to see more money collectively from all of us going into social and environmental areas. No point collecting endless dosh if you’ve destroyed your world doing it, is there?
Describe your financial low: The first time one of us got made redundant. We were in our mid-30s. And had a huge mortgage. As well as the pain of rejection, we were terrified of losing our home. But we got through it together. Faced that situation several times in our working lives.
I give money away to: SPCA, Pet Refuge, people I see on the street sometimes.