What is your net worth? 1,002,629.00
Are you filling this out as an individual or a couple? Couple
At what age(s) did you become a net worth millionaire? 45 (both of us)
What region of New Zealand do you live in?:Hawke's Bay
How did you accumulate your net worth, what are you invested in? House (paying down the mortgage), car, KiwiSaver x 2, Sharesies, savings in a bank account.
What was your highest average household WEEKLY income after tax? $3,156 (I am a contractor so it changes but this is the highest this year)
What is your career? Sole Trader / Contractor + Facilitator / Environmental Educator
Do you have children? YES
Do you have a tertiary qualification? YES
Did you inherit any of your money? NO
What's the approximate value of your house? $705 000
Are you debt free now? NO
If NO, how much debt do you have and what is it for? Home loan of $217,000 approx
Are you in KiwiSaver? YES
Were you taught about money? YES
If YES, how were you taught? My parents were very frugal. I didn't listen to them for a long time in my 20s. I wish I had! I have also read The Barefoot Investor and Mary Holm's books.
What is the most enjoyable thing you do with money? Watch it grow!
Do you use your money or your time to help others? YES
If YES, can you please elaborate. I run the Napier Repair Cafe on a regular basis and we give money to various charities. I also volunteer at beach cleanups etc
What is your greatest financial win? I think buying an EV was smart, and getting rid of gas from our house. We have saved money from both of those choices.
What is your worst financial mistake? Not starting to save early enough and not paying down our mortgage more when we first got it.
What advice do you have for others? Start small and regular, but start now. Build an emergency fund of $10K to $15K. Buy second-hand. Put money into ETF's. Start saving small regular amounts for your kids when they are born.
What is the point of having a net worth above $1,000,000. What does it mean to you? It makes me feel secure (and it makes me feel rich even though I don't feel very rich due to living reasonably frugally)
Finish these sentences:
If you want to build wealth do this… Start now. Regular amounts into the share market. Don't try to keep up with other people. Never buy your lunch! Drink coffee at home. Cycle to save on fuel. Ignore other people's position. Stop scrolling and following rich and beautiful people on social media.
If you want to build wealth avoid doing this… Living beyond your means. Treating shopping as a hobby, using Afterpay etc. Stop scrolling shopping websites (Temu, etc.). Find something meaningful to do with your time that makes you feel good: art, yoga, reading, gardening, sewing, baking. Go for a run or bike ride instead of joining an expensive gym.
If these questions don’t adequately tell your story, feel free to briefly elaborate here: I try to live simply, not just to build wealth, but because we are destroying the earth with overconsumption. I'm big on minimalism and buying only what I need secondhand. This saves both money and the earth. I run, walk and bike for exercise. I have hand weights to use at home. No need for expensive gym memberships. I am more keen on experiences than 'stuff'.