The cost of being: A tourism operator paying back their Covid-19 business loan
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Gender: Female.
Age: 46.
Ethnicity: NZ Pākehā/European.
Role: Self-employed in tourism (own/host short-term accommodation). Husband works in marketing. We parent three kids and I volunteer 4-5 hours per week.
Salary/income/assets: $110,000 p/a after tax (can vary depending on occupancy of the rental). $10,000 in savings (earmarked for end-of-year taxes and bills during the tourist off-season). Approximately $60,000 in KiwiSaver.
My living location is: Small town.
Rent/mortgage per week: Slowly but steadily paying off a mortgage of $474,000 at $850 per week.
Student loan or other debt payments per week: $150 per week for Covid-19 Small Business Cashflow Scheme Loan.
Typical weekly food costs
Groceries: $500–$600 for two adults, three kids plus pet food for two dogs.
Eating out: Rarely, special occasions only or if we go to the city. Probably works out to $20 per week.
Takeaways: Never (we live 17km from a small town with limited takeaway options).
Workday lunches: None, I work from home.
Cafe coffees/snacks: I get a chai latte every other week, so that works out to $3.50 per week.
Other food costs: None. I've got the space for a vege garden but our climate is tough on plants and honestly, it's cheaper/easier just to buy in season. My husband does grow his own herbs.
Savings: We can easily save a few hundred a week and we'd love to go on holiday but the savings will be going to our end-of-year tax bill and to help with bills over the tourist off-season (ie, our rental doesn't command the higher nightly rate as peak season).
I worry about money: Sometimes.
Three words to describe my financial situation: Privileged, comfortable, relaxed.
My biggest edible indulgence would be: Vegan cheese – currently $9.50 per 250g so we buy it once a week and make it last!
In a typical week my alcohol expenditure would be: Zero for me as I quit drinking for health reasons (ie to mitigate increased risk of cancer). Husband still enjoys a good wine so $40 per week for him.
In a typical week my transport expenditure would be: Around $50.
I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: Around $800.
My most expensive clothing in the past year was: $223 for Salomon hiking boots.
My last pair of shoes cost: See above – but they were on special, down from $319!
My grooming/beauty expenditure in a year is about: NZ-made vegan make-up, various 'pro-ageing' lotions and potions, hair cut/dye every few months. Annual cost would be around $750.
My exercise expenditure in a year is about: Zero. I walk with my dogs in the hills behind our property and push-ups/sit-ups/planks are free!
My last Friday night cost: Zero. Just the usual dinner then a movie at home.
Most regrettable purchase in the last 12 months was: A $650 refurbished iPhone that had problems from the outset. I've now bought a new iPhone for $1,200. That stung.
Most indulgent purchase (that I don't regret) in the last 12 months was: Books (around $200 total).
One area where I'm a bit of a tightwad is: Accommodation, which is funny because while I run boutique accommodation ($350 to $500 per night depending on the time of year) I wouldn't stay in a place like that myself!
Five words to describe my financial personality would be: Got lucky but worked hard.
I grew up in a house where money was: Tight. We were pretty broke off and on growing up but I didn't really notice because I had everything I needed: loving parents, cosy home, good healthy food. It was way harder on my parents.
The last time my Eftpos card was declined was: In the last month because I forgot to transfer enough into my everyday account.
In five years, in financial terms, I see myself: Wealthier with our mortgage nearly paid off and money for international holidays with the family.
I would love to have more money for: At least one international holiday with the kids before they leave home!
Describe your financial low: 2011 to 2017 when we were on one income while I was at home with the kids. That was tough but not as tough as people are doing it now. We were lucky to have excellent parental support that got us through.
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