As part of our engaging series titled The Cost of Being, we take a closer look at the lifestyles of New Zealanders and their relationship with money. Today, we spotlight a remarkable 67-year-old retiree who embodies the spirit of living lightly, sharing her thoughts on spending, saving, and the art of financial discipline.
Embracing Simplicity in Retirement
A Snapshot of My Life
- Gender: Female
- Age: 67
- Ethnicity: Pākehā
- Role: Retired/volunteer
- Income: Living on the pension, with modest assets just above the limit for an accommodation supplement.
Where I Call Home
I reside in a quaint small town, renting a bach for $285 per week. While this arrangement is decent, the property is on the market, and I know I won’t find anything comparable for under $400. The imminent change looms over me, but I stay focused on my philosophy of minimalist living.
Budgeting Basics: A Week in My Life
Housing and Income
- Rent: $285 for my bach
- Debt Repayment: $17 weekly towards my student loan; I was taken aback to learn I needed to start repayments upon reaching pension age!
Food Costs
- Groceries: Between $50-$80 weekly – Just me, cooking almost everything from scratch to uphold a healthy diet.
- Dining Out: A rare treat; I spend about $20 every fortnight for lunch.
- Takeaways: Occasionally indulge in a $5 ice cream.
Weekly Expenditures
- Transportation: A mere $2 for bus rides using my Gold Card, as I prefer walking and cycling.
- Grooming: Barely a $100 per year on haircuts, favoring DIY methods.
Savings Strategy
Thanks to a reasonable rental rate, I manage to tuck away about $100 each week. Though I occasionally find myself anxious about finances, I describe my situation in three words: Disciplined. Adequate. Precarious. After all, the future remains uncertain.
Financial Insights: The Indulgences and Regrets
Gifting and Giving Back
While I might not have excess funds, I cherish contributing to causes close to my heart, supporting social justice and climate organizations in small increments. My time spent volunteering often outweighs financial donations.
A Life Without Regrets
In an enviable twist, I can proudly say that I rarely make regrettable purchases. Mindful spending is my norm; I conduct thorough research before committing to any acquisition. Indulgently, I did invest in an exceptional scythe this past year—something I do not regret!
Clothing Costs
Reflecting on my expenditure on personal clothing, I estimate it at around $100 for the year. I treasure op shop finds and clothing gifted by friends, with my priciest purchase being a pair of tramping boots at $165, utilized daily.
My Financial Journey: Lessons Learned
Lessons from the Past
Growing up, my family experienced financial fluctuations—my father’s past poverty forever etched in his mindset. This left me with a unique perspective on money, understanding both its scarcity and value.
Future Projections
Looking five years ahead fills me with unease, as I fear the political landscape may worsen my financial standing. I would love to invest more into ideas and causes I believe in, perhaps even affording myself a tiny house for peace and stability.
In Conclusion: Living Lightly, Meaningfully
This journey of living lightly is more than a financial stance—it’s a lifestyle choice. It reflects my values—harmonizing frugality with ethical living and community support. While the path is often challenging, it also offers unexpected joys and satisfaction.
If you’d like to contribute to our exploration of New Zealanders’ lifestyles, consider participating by filling out the questionnaire here. Your story is just as essential!
By drawing insight from personal experience and adopting a mindful approach to spending, we can all learn valuable lessons on how to live meaningfully, regardless of our financial circumstances.
