We’re asking New Zealanders how they manage their finances

Wellingtonian Hayley Jordan, 29, is on a good salary now but it’s taken her some time to become adept at managing her money.

Salary band: $80k+ Employment status: Fulltime with a side hustle

Living situation: Rent alone Belong to KiwiSaver? Yes

Have a student loan? Yes

Have a credit card? Yes

What’s your current financial goal and how do you plan to get there?

Saving for a three to six-month trip in Europe. I lived in the UK from 2018 to 2020 and had to come back due to Covid. So I want to go back and do the travel properly when the world opens up again. I’m trying to save for this with a portion of my salary each fortnight as well as open up an investment account to boost these savings.

How do you divvy up your paycheck?

37 per cent of income on rent; 8 per cent on bills including phone, internet, power, petrol, insurance; 15 per cent on food; 10 per cent in emergency savings; 10 per cent on debt payments (credit card, loan from a friend); 20 per cent on spending or unexpected costs. (I want to start investing but need emergency savings and debt paid off first.)

Your best financial tip?

Start investing! I wish I had started earlier. Property is completely out of reach for me, I will never save enough on my own salary (even with a KiwiSaver) to be able to afford a deposit.. My family is lowerincome and has been for generations, so we have no property to pass on. My parents rent as well. Investing is the only way I can see myself gaining any amount of money quicker than my salary – savings accounts are a joke for their interest rates. I hope that with investing I may have something to add to my KiwiSaver to buy a home in 10 to 20 years – if houses aren’t $2m by then!

Your biggest financial risk or mistake?

Moving to the UK was my biggest financial risk. Salaries are lower there (I took a $20k paycut) and I had to pay my own taxes for the