The Happy Saver Podcast - Personal Finance in New Zealand

I met 29-year-old Dylan when he heard my call out for younger people to get in touch and share their stories with money. Through luck and good timing, aged just 21, he found himself buying his first property, an empty section, and then one thing led to another; he stumbled upon a cracking good deal, paying just $18,000 for a second section. This sounds impossible, and stories such as this need a deeper dive. As a sound bite, it's a good one, but I know that there is a lot that goes on behind the scenes that is never explained. Well, today I will explain, sharing not only how he purchased property but the numbers behind it, the lucky breaks he has had and the fact that since he learned about FIRE, he is now diversifying by investing in KiwiSaver and ETF share investments. Plus, he advocates good financial management to both whānau and friends. And now that he is joining his life with the love of his life, this late 20-year-old is on an excellent trajectory for a great financial future.

In this week's episode, I wanted to revisit an earlier episode with an update on Nathan from episode 71, and introduce a new guest, Sam, a 16-year-old Year 12 student who is starting a financial journey similar to Nathan's and already demonstrates a forward-thinking mindset towards his financial well-being. He recognises that financial stability is vital to achieving his goals. Nathan and Sam's experiences provide a valuable opportunity to educate young people about the importance of financial literacy and equip them with the tools they need to make wise financial decisions.

I’m looking forward to telling you all about 37-year-old Tui. She described herself as someone who has worked hard to get her financial house in order, and in the last three years in particular, she has made great progress. She had spent her teens and twenties gathering life experiences by living and working overseas, getting an education, beginning a career and buying a home with a friend. But more recently, she has increased her understanding of personal finance, and when she added that new knowledge to her situation, she has moved ahead, now with her partner Marcus, in leaps and bounds. Amid a pandemic, they bought the house from her friend and changed careers, and I know you want to learn how that has all worked out for them! Spoiler alert: really well!

Nic described herself as a 42-year-old professional who sometimes has to pinch herself at the job she has. It’s a tough demanding role in a field she loves that pays really well. A mum to two tamariki and a partner to the world's most laid-back, carefree non-money-driven man. Her money journey started slowly, full of bad decisions, good luck, and some great times. Now she finds herself in the very fortunate position of earning an above average income, which up until recently, she spent. More recently, she has realised she is in a position to do things with her money that will have a lasting impact. New information on how to handle money better has made her cringe at past decisions. Nic has come a long way, but the journey is not over yet, but she has a plan now, something she never had before. She has her WHY and the HOW defined. She now just requires the discipline, focus and drive to pull it all off!

When Rachel told me that she had very recently moved from a super consumer to thinking instead that saving was the new shopping, I knew the story of this single, city-dwelling, dependent-free, self-employed 54-year-old was one worth sharing. Covid was to be the tipping point for Rachel. Realising that when her income stream dried up, she was in trouble financially. Today I’m going to tell you how she managed to stop living pay cheque to pay cheque and managed to catch a break instead.

This week I’m sharing the financial life of Ngaio and Ben, a Coromandel couple in their early 30s. They struck a chord with me because I love seeing examples of life enjoyed a little bit differently to most, in their case, choosing to build and live in a tiny home, work part-time, take mini-retirements and do a lot of adventures, which often include a bike. They are rare due to the fact that they have more invested in the share market than they do in housing, which lets them lead a more balanced life. They are an adventurous couple who will give you food for thought.

This week I caught up with a couple in their mid 20’s, Richard and Jane. Their express aim in putting themselves out there is to comfort the other twenty-somethings that their financial situation is in their own hands and they, to a large degree, get to write their own story. In 2019, they purchased a home when they were just 22 years of age and are now setting about paying it off. Buying a home so young is unusual, but having the goal from the beginning to pay it off as fast as possible is even more unusual. My first question to them was, “how did you get so smart?”

This week I’m sharing the story of Ayana, a woman who sure does have a zest for life. However, life keeps throwing her curve balls, and she has to keep adjusting course. Ayana has worked since she was a teenager and left school with money in the bank. She had a brief stint in the Navy and then completed a degree at university. She no sooner started an internship in LA before it was cut short by Covid! She picked up work at a radio station, then as a carer. And, to top it off, she spent last summer working in Antarctica! Did I mention she is just 25 years old? She takes life by the horns, and because she is thinking clearly about money, she can embrace each new change instead of being crippled by it. I loved this conversation; I think you will too.

Today I’m excited to share the story of Pipi, a 20-year-old wahine from Auckland. Pipi got her first part-time job at the age of just 13, and now that she is a second-year nursing student, she continues to work part-time while studying and full-time when she can to keep the income rolling in. The extra special thing about Pipi is that she is fiercely determined to complete her three-year nursing degree debt-free. Today’s podcast episode walks through how she is doing it. I think this episode will be particularly useful to NCEA students and anyone who knows one!

I’ve met countless people who have received an inheritance, yet today they are in a really poor financial situation. It’s what you DO with an inheritance that counts. Will chose to pay off debt and invest. And while his investment strategy back in 2013 was similar to throwing a dart at a dart board, at least he tried. His biggest financial triumph, he said, has been the fact that he took an interest in working out how to grow wealth, he took the time to educate himself, and then he actually took action. Now married and living in their own home in Auckland, with an Auckland-sized mortgage, this 31-year-old couple is still well on their way to financial freedom.