Welcome! I’m Sophia, the author of Mindful with Money (@mindfulwithmoneynz). I’m passionate about all things personal finance, currently work in the NZ financial industry, and hold the NZ Certificate in Financial Services (Life, Disability & Health Insurance; General Insurance; Residential Property Lending) and NZ Certificate in Money Management. This blog is my money diary, and I hope it gives you plenty of helpful tips and inspiration on your own personal finance journey!
How I saved $232 a month while looking for a job
Today I wanted to share with you how I reduced my monthly expenses, and talk about whether I’ve noticed much difference in my life. I’d like to thank a brief period of unemployment that motivated me to make these positive changes, some of which were only temporary – if it weren’t for my need to reduce expenses, I might’ve never truly evaluated where my money was going, and what was important to me.
What’s on your reverse bucket list?
Have you ever heard of a reverse bucket list? While a bucket list is a list of everything you want to do before you die, a reverse bucket list is simply the opposite. It's a list of amazing things that you've already achieved and experienced.
My kikki.K bucket list book is very dear to my heart. A brief stay in hospital in 2015 inspired me to purchase a timeless journal to write down all my goals, dreams and aspirations - where I want to travel, milestones I want to achieve, concerts I want to go to, and more.
It's fun to read over it when I'm going through a rut and feeling 'blah', sometimes adding to it - but now, I realise that it tends to constantly keep me focused on the future. Future goals. Future plans. Future achievements. Why not also count and celebrate everything I've already achieved?
3 ways I’m paying off my debt faster
Becoming debt-free has always been one of my biggest personal finance goals - and last year, I got to say that I achieved this. It was the moment I received a letter from my finance company confirming that my car, a gorgeous red Mini Cooper, had officially been paid off!
For a time, I had no consumer debt - and it felt good not to owe anyone anything. Unfortunately, this didn't last too long because shortly after, I had to get several expensive dental treatments. Fortunately, my local dental clinic partnered with a finance company to offer interest-free finance for 6 months - so naturally, I went ahead for the sake of my oral health.
This interest-free finance felt like a personal loan, but technically, it was a credit card - and once issued, I was approved with a credit limit way higher than I needed. Seeing that they wanted me to spend more, accruing more interest, I reduced my credit limit immediately to help myself resist the temptation to spend. On top of this, here's 3 more easy, effortless ways that I'm paying off my debt faster that you may find helpful too!
How to live on 80% of your income
When it comes to budgeting your money, it can be confusing to know where to start. How much should you be spending - and what should you be spending on? How much is 'normal' to spend on everything in your life, from your rent or mortgage, your car, entertainment and eating out?
If you have no idea where to start, or would just like to refresh your money mindset and give your budget a makeover, here's a super simple budgeting rule: the 50/30/20 rule.
My personal home buying experience (Auckland, New Zealand)
In 2017, I ticked off one of my bucket list goals: to buy a freehold property. And by tick off, I mean literally – it had long been written in my kikki.k Bucket List Journal, alongside goals like ‘Go to Japan’, ‘Try anti-gravity yoga’, ‘Go to Tomorrowland in Belgium’ and ‘Fly a plane’. Needless to say, it was a dream come true.
After I shared the news, I got asked more or less the same questions from friends & acquaintances alike. So I’d love to share my home buying journey and what it was like, as a recount of my personal experience.
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