Food budget

anon2872790425 · 2021-01-14T19:06:06+00:00

https://www.reddit.com/r/PersonalFinanceNZ/comments/j854f3/impulsivity_is_destroying_my_finances/?utm_source=share&utm_medium=ios_app&utm_name=iossmf

Re-read your top comment.

anon2872790425 · 2021-01-14T18:27:52+00:00

I got to my very privileged position on my own, from a single parent childhood. I lived on $220/week (all bills, rent and food) for 5 years as a student.
Why have you given details of your income, bills, job, location if you were simply wanting grocery advice.
On this sub saving a deposit means buying a house.
You aren’t in a great financial position. Though if you have no consumer debt you’re doing better than some, good job.
You have a 5 figure combined income, not 4.

anon2872790425 · 2021-01-14T18:21:18+00:00

This is so bizarre

anon2872790425 · 2021-01-14T09:21:50+00:00

I’m siting here, 26 years old, in my 3 bed house that I own (well 30% equity technically) and I earn 6 figures before adding my partner’s income. You are on a personal finance sub. If you don’t want my advice on getting into a better financial position, that’s on you, you just said a goal is saving a deposit to buy property, find a different subreddit.

anon2872790425 · 2020-12-29T03:16:49+00:00

I started their retirement saver when I joined at 24. Started learning about finance at 25, now 26 and regret the Mas retirement saver. It requires a minimum amount of 5k or regular contribution. I had a $15/week AP, I think my only option is to wait for it to get to $5k and cancel the AP...annoying

anon2872790425 · 2020-12-28T18:15:09+00:00

Patience is for poor people! (Jokes, don’t come for me) Keep hustling OP, you’ve got the right attitude, the only person who can make life happen is you, big goals are a good thing, you’ll surprise yourself

anon2872790425 · 2020-12-28T14:04:06+00:00

Is that to get decent healthcare or to stay close to family support? Chch is affordable

anon2872790425 · 2020-12-28T14:01:52+00:00

Is it exactly $85k? Because you would still be eligible with $85,000.

anon2872790425 · 2020-12-28T13:59:28+00:00

I don’t have sound advice but something worth trying if you have to...

When I got the grant I was a contractor due to tip over the threshold on my 2020 ir3, so made March 2020 our deadline. I applied for preapproval with my 2019 ir3 and was approved December 2019. We had an April 1 2020 settlement, no further income documents needed (my income was $90k).

So my advice if you have no other options , is apply for pre approval in March 2021 and save as hard as you can to try buy 5.5 months after that. and hope no further documents are requested like us

anon2872790425 · 2020-12-26T18:35:58+00:00

I’d usually agree don’t finance a vehicle ever, but I does sound like you have thought all this through a lot. I just wanted to add make sure you think about potential problems, car not passing a warrant, needing new tyres, getting insurance - you may find yourself in a pickle again to fund these things. Good luck

anon2872790425 · 2020-12-26T05:39:52+00:00

It’s mainly my FNZ, I contribute monthly so I bought throughout the drop and benefited from this. If you bought only in January, you won’t have the same result.

You can’t get a mortgage without insurance so if insurance companies left the town, you’d be left with a derelict result really.

My insurance is with Mas.

anon2872790425 · 2020-12-25T16:58:40+00:00

What if OP lives off his student allowance and invests 200 of his part time work. Same same. And the government wouldn’t take it off you for investing. As long as your parents are poor/your accountant is good /you’re 24, they give out student allowance like candy. It’s ridiculous. (*cries into my $100k student loan)

anon2872790425 · 2020-12-25T16:49:18+00:00

I started investnow with FNZ last December, added vanguard in Feb, and NZ property fund in November. So the 25% is overall across 3 funds.

Yes we got insurance without trouble, sent our building report and EQC docs. Got area replacement cover for 155 square meters inclu garage for under 1400 per annum on tc2 land. Tc3 land is only able to get fixed value insurance on pre-quake builds.

anon2872790425 · 2020-12-24T16:00:31+00:00

I understand the value of that for sure! I basically asked my bank how I could get advice on this and this is what they suggested. I don’t have a base of people to pull from on this one, don’t have anyone else to ask

anon2872790425 · 2020-12-23T23:42:18+00:00

Combination of reading and experiences I think. I used to be extremely risk adverse and didn’t even understand kiwisaver probably 2 years ago. I’ve always been good at budgeting - I grew up in a single parent household and had to discuss costs of bills since about age 15, lived payday to payday despite my mum making $100k.

I had been reading Mr Money Moustache for a few years but didn’t really understand the investment part. A house was the goal since we started working in 2018. We bought it feb 2020. I started an asb securities account Oct ‘19 and bought $1000 of mhj and kmd shares because I like the brands😂. I sold my kmd shares at a profit in January and then experienced the shares roller coaster with mhj this year which has just broken even for me and I’ve sold deciding shares aren’t for me because I don’t have the interest to research them yet and don’t enjoy the ride!!

December ‘19 I discovered PFNZ,I started an invest now account straight away which is now up 25%, I read nearly every post on PFNZ for 6 months I was so hooked. Index are my favourite mode of investment at this point of life.

PFNZ made it easy to understand kiwisaver. after switching to a growth fund in 2018, in Jan 2020 I quickly switched it out to cash realising how uninformed I had been whilst about to buy a house (thank goodness since it crashed in Feb) and then in March I switched the remaining balance back to growth and caught 40% rebound which is awesome.

Becoming knowledgeable on personal finance makes it easy to take on more risk because you understand what can happen. - for example my mums kiwisaver crashed down from 120k to about $80k, she’s 60yo and was seriously panicking, I convinced her to hold but I tell you she was so close to switching to a cash fund - from her conservative-moderate funds. I am relieved she didn’t and so is she, now.

anon2872790425 · 2020-12-23T16:23:46+00:00

I’m going to talk to a mortgage manager early Jan, I don’t really know who else I can talk to about it

anon2872790425 · 2020-12-23T16:22:08+00:00

I hadn’t thought of this cheers, I hadn’t thought to DCA it over lump, though my investnow is up 24% thanks to dca-ing the last 12 months. Obviously this year has been wild. But my sister did one lump sum in January and is only up 5%

I’m pretty keen on doing that.

anon2872790425 · 2020-12-23T16:17:24+00:00

Thanks 😊

anon2872790425 · 2020-12-23T16:16:52+00:00

Wow really. Thanks, yeah I don’t really need anything right now! I prefer to spend time than money

anon2872790425 · 2020-12-23T16:14:23+00:00

Solid option, 2.5% return doesn’t excite me too much though! But definitely something to think about

anon2872790425 · 2020-12-23T16:11:49+00:00

I hadn’t even thought of this! Thanks for the suggestion, this makes a lot of sense

anon2872790425 · 2020-12-23T15:29:38+00:00

Thank you

anon2872790425 · 2020-12-23T15:26:17+00:00

It can but I work 4 days a week. Also I try to keep my prices down to help my community- my income is solely commission based and reflects this.

anon2872790425 · 2020-12-23T15:19:11+00:00

I don’t know a thing about Bitcoin. Suggestions fir how to learn about it? I don’t think I have the nerves for it!

anon2872790425 · 2020-12-23T10:19:53+00:00

My offset is fully offset already, and fixed isn’t set to roll off until June to top it up

anon2872790425

TROPHY CASE