Purse Strings is our new money column, where we rummage through the wardrobe and wallets of a range of New Zealanders. First up: Ensemble’s own Tyson Beckett.
As progressive as the world has become, talking openly about your finances feels like one of the last societal taboos. No matter whether you’re bashful about what you’ve got, how you got it, or how you stack up against others, talking about what’s in your bank account feels… Whakamā.
While the other historical conversational taboos (politics and religion) are now more approachable in ‘polite company’, discussion of money still seems shroud in secrecy. Not talking about how much bacon we’re bringing home leads to needlessly gossipy speculation (how did they pay for that?) but does calculable damage to our society and its inhabitants.
A tight-lipped attitude to talking about finances can contribute to discriminatory pay and employment practices, inequity in the workplace, and increased gender and ethnic pay gaps.
The gender pay gap in our country is currently sitting at 8.6% and alongside women, Māori, Pacific people, and people from other ethnic communities are more likely to experience such salary discrepancies, higher rates of unemployment and underemployment, when compared to European men. While we wait for a nationwide mandatory pay gap reporting system similar to that introduced in Australia, lifting the lid on the way we talk about cash flow willingly has multiple benefits: it empowers people to make more informed decisions about their own employment and remuneration, it also shines a light on other disparities that may be hidden away.
With Ensemble's new monthly money column, Purse Strings, you’ll see a wide cross section of New Zealanders talking candidly about their own financial realities, documenting how they spend their money for a week, and what they wear while doing it – because fashion and money are as close as hip and pocket. For many clothing is a status symbol, for others, it’s a frivolous expense or waste of money, and others still, a luxury or simply a necessity.
It would be hypocritical to request such candour from people without being upfront ourselves. So in the spirit of I will if you will, to kick us off we go for a week long rummage through the (frankly confronting) spending and closet of our own reporter, Tyson Beckett.
Want to share how you control your purse strings or splash the cash? Get in touch.
Occupation/industry: Reporter / media
Age: 33
Location: Tāmaki Makaurau
Salary: $70,000
Monthly rent: $1080
How would you describe your approach to money management?
As a kid / teen my mum would chastise that I had a hole in my pocket. Today my pockets are just more fashionable. I will either agonise over purchases for years (you may spot masking tape on my floor, marking out a dresser, still unpurchased, that I wanted to buy when I moved into my apartment a year ago), or make a purchase impulsively and then regret it instantly – a binge spender if you will.
Talk us through your financial landscape right now. How even keeled do your finances feel at this point in your life?
In many ways I feel like I’ve failed to launch financially. I just never really got into the habit of saving seriously and I still don’t own or have many of the big markers that are seen as symbols of maturity, of ‘having your life together’ (car, house, Moccamaster!).
How have your finances tracked as your career progressed?
My salary has definitely gone up, as I've gotten further into my career but so has the cost of living, my appetitie to spend. Anecdotally my salary doesn’t rise at the rate that my friends in other sectors do.
When was your last pay rise or the last time your income changed significantly?
As part of my union’s collective agreement I received a 3.5% pay increase in July 2023.
What sort of financial education did you receive?
I took (and from memory failed) NCEA level 1 accounting. The year after I graduated high school I excitedly told my dad that there was some sort of luckily quirk happening with my bank account because I was spending money but my bank balance was inflating rather than decreasing. After about a week his eyebrows raised enough to take me down to an ATM to investigate. That's the day I learned that overdrafts existed.
What debt do you have? Do you have credit card debt or outstanding after pay balances?
When I was 19 and had my first ‘proper’ job as a secretary at a law practice, I went to Melbourne for the weekend to visit a friend and see a Julian Casablancas concert. I applied for my first credit card before the trip and maxed it out over the weekend. 14 years later I feel like I’m still paying it off. I have about $5000 in credit card debt that I need / want to pay off more aggressively.
What savings do you have?
$51,000 - including Kiwisaver. I pay 4% of my salary into Kiwisaver and am in a managed lifetimes fund.
Do you have insurance – like medical insurance?
I don’t (I know I should). Stuff does offer some level of medical insurance but I started on a fixed term contract and fell between the cracks to sign up and have never prioritised it. My mum is a health bureaucrat so I’ve grown up with a fiercely ingrained trust in the New Zealand health sector; this may be to my detriment in an emergency.
What are your largest outgoings moneywise?
I think this could broadly be categorised as ‘shit I don’t need.’ I once got a badge on Uber for being one of their most loyal customers – MORTIFIED.
What’s been your biggest money splurge or purchase to date?
Travel.
What financial pinch points exist in your life? What are the biggest stressors you encounter in terms of finances?
I don’t have big stressors, but my financial situation always feels precarious. My money woes are definitely the result of many small unwise decisions rather than external pressures.
What are you most proud of financially?
I paid off my student loan.
Have you inherited any money?
No.
Does anyone else cover any other aspects of your finances? Does anyone else rely on you financially?
My younger brother earns much more than me and often pays for meals etc when we go out. He should be firmer about asking me to pay him back for things. Take note Leroy!
Do you have financial goals? What are they short / long term?
When I was on TikTok, I became very invested in content creator Brittney Reynolds and her journey to pay off $36,227 in credit card debt. I now want to clear that balance ASAP (not that you’ll see any moves towards this reflected in this week’s spending).
My lack of concrete financial planning is definitely indicative of a lack of general direction / commitment in my life. I 'd love to buy an apartment, but knowing what a long shot this is feels crippling and like it’s not worth trying, to be quite honest.
How do cultural, societal and religious aspects influence what you do with your money?
My money is definitely all mine, but as a single person so is the financial burden. I hate taking leave (just ask my editors…) because I’ve been made redundant in the past and know that a plump AL balance can be a financial safety net.
Are there other ways you cut down on costs financially? Do you go without anything?
I don’t own a car, I walk a lot and take Uber (which is not cutting down on costs). I don’t buy coffee during the week, i drink three black coffees a day from the machine at work– that makes no real difference to my financial standing but it is often held up as a budgeting cure all. I have been to the dentist once since I turned 18. I don’t have any lifestyle subscriptions (gym etc), but i do subscribe to media products.
How are finances reflected in what you wear, and your approach to shopping?
I don’t own anything by luxury designers, though I own a few pieces by NZ designers. I think I own relatively few clothes and I wear the same outfits over and over again. I have no qualms about buying secondhand and wearing things to death. I get things altered and repaired.
How do you approach clothes shopping? Do you budget for clothes? Do you have rules about what you can and can’t buy?
I believe in a standing down period pre-purchase. A predilection towards the punitive means I have to be careful not to be overly restrictive in any part of my life, so I don’t enforce strict rules even though I sometimes fantasise about streamlined easiness of uniform dressing. I am however categorically banned from buying any more white t-shirts. Clothing is tied to one aspect of my job. I spend a lot of time looking at clothes and I had a bit of an identity crisis around clothing and not being up to par when I started this role. I care less now (or have just amounted a decent wardrobe?)
Where do you shop?
I research clothing options extensively online, discovering new brands and outfit ideas on social media but I still much prefer to actually shop in store.
I sell what I no longer wear in consignment stores and online. I am uncomfortably driven by convenience: I own a lot of things from Seed because it’s across the street from our office. I also own quite a few things from Cos and Twenty-seven names, because I know I like their offerings and cuts.
What’s the most expensive thing in your wardrobe? Is there anything in your wardrobe that you're embarrassed of cost-wise?
I bought a houndstooth Juliette Hogan coat two seasons ago, it was about $700. A decade ago I bought an Orla Kiely dress and once I paid duty tax it cost about the same amount, though I think I made $300 a week then. I still have it.
Last year I bought a tuxedo to wear to my brother’s wedding. It cost $1300 and I spent about $300 getting it tailored. I don’t regret any of these purchases – I do regret the frivolous small amounts I spend on badly made shit purchased for one occasion and never worn again.
What in your wardrobe do you regret buying or spending money on?
A couple of years ago I went through a big phase of buying clothes from vintage sellers on Instagram. It is convenient, but the scarcity of vintage and knowing that there was only one of each item in these drops meant I often got carried away with clothing FOMO and definitely bought things I didn't need.
How do you pay for your clothes? Credit Card, Afterpay, Laybuy etc…
I’ve definitely paid for clothes with a credit card in the past, I can’t remember any specific items which points to the fact this wasn’t a wise use of credit. I have never (and will never) used Afterpay etc – thankfully it was introduced after my shopping habits calcified, and it's a line I won’t let myself cross. If I was younger I know the temptation would be dangerously alluring.
Is anything in your closet free, contra, discounted, gifted?
Yes. Not heaps of things but I do sometimes get gifted clothing and I get wholesale pricing at a couple of New Zealand brands. You order so far in advance it doesn’t feel like you’re spending real money, but it is. I only buy one of two things a season and make sure they are styles with longevity (I stay away from the trendy pieces for this).
Has your approach to clothes shopping changed as your financial situation has progressed?
I would like to say the changes to my shopping is more tied to my increased awareness of ethics, and want to support the local industry. Maybe I’m buying more expensive clothing but less of it? I shop at fewer fast fashion stores now, but one look at my wardrobe will tell you it does happen.
How much do you think your wardrobe is worth / valued at?
$6000?
My week and wardrobe in money
Day One - Monday
What I wore:
My editor Zoe called this an “Office Siren” look which she says is a TikTok trend? A while ago I went to a free lunch put on by Glassons and they gifted all the attendees an outfit from a recent collection (this is not unheard of in the industry and generally means you act as proxy models in photos from the event).
This blazer retails for $90 and the dress for $50. I nabbed these Dr Martens off Designer Wardrobe last year for $140 and wear them almost every day. The tights are Bonds, $8.50 from the supermarket and I am wearing them backwards because they've got a big rip in the front of each leg.
What I spent:
Our offices are above a Countdown supermarket and I visit so frequently I could make my way around the aisles blindfolded. This morning I grab a Chobani Greek Yoghurt, a banana and a scoop of LSA that I mix in, $5.62. After work I get $3.08 worth of kumara crisps from Goodfor that I eat on my walk home.
Dinner is Thai, and it gets put on the expense card of someone visiting on a work trip. I Uber to meet them because I faffed about at home, $13.82.
Total daily spend: $22.52
Day Two - Tuesday
What I wore:
As you’ll see across this week, mini skirts and striped shirts are staples in my wardrobe. This skirt is by Sylvester, the sister brand of Kate Sylvester. I bought it in January at Recycle Boutique in Wellington for $38. The shirt is from Kowtow, I was gifted it and it makes me feel like Sofia Coppola. It’s sold out now, but retailed for $199.
What I spent:
Uber home is $13.82. Halfway through the day I buy a pack of Frooze Balls ($2.50). After work I walk to meet a friend for dinner at Udon Works before a screening of Love Lies Bleeding. We both get a 0% beer and a donburi. I spend most of the meal in tears (cringe) so it feels right that I treat our therapy session, $50.60.
Total daily spend: $66.92
Day Three - Wednesday
What I wore:
I bought this leather mini skirt from Seed in April last year for $270 and have worn it at least once a week since then. I need to get it altered, so if anyone has a recommendation for a tailor who does leather, let me know. The Broderie Anglaise shirt is from Decjuba; I bought it on Designer Wardrobe for $25. After work I swapped the shirt for one of my favourite clean cut tees from Cos. They're about $75 and I own about six in various states of crispness.
What I spent:
It’s payday. I transfer my friend / flatmate / landlord $480 for a fortnight's rent and $60 for expenses.
On the way into work I stop in at the Countdown pharmacy to ask if I have a repeat left on a prescription. I get another yoghurt and banana ($3.62) while I'm there. At lunch I walk down to pay $200 off my credit card and on the way back I stop at a cafe and get a piece of quiche, $14.50.
It’s my turn to collect the family dog from daycare. Some days I’ll walk him back to Wynyard Quarter from Grey Lynn, but tonight I’m in a hurry to meet people for a drink so we get an Uber, $19.18. I get one glass of chilled red, $16 and walk home.
Total daily spend: $793.30
Day Four - Thursday
What I wore:
Autumn’s crisp mornings have arrived and I just want to wear something soft and cosy. This red cashmere Wixii cardigan is my latest clothing crutch, it was $375 and I think it’s sold out since I bought it last month. For ease and warmth I pulled on the only pair of jeans I own: Nudie’s beautifully rigid Breezy Britts in 90s Stone. They were $300, they offer free tailoring and repairs for life. I got the shortest length they offer and still had to get them aggressively cropped. These stinky old ballet flats are from Zara (hiss, I know); I think they were $75.
What I spent:
I got swept up in the click frenzy for Fred Again tickets, my share is $183. In the afternoon our team walked down to an ice cream shop to get a silly little treat to celebrate the end of a work project. My colleagues were far more adventurous than my single scoop of pistachio, $8, ordering an edible rose design and a boozy extravaganza doused in Baileys.
When buying ingredients for dinner I can almost never go past stuff that is reduced to clear. I walk up to the chillers, look for the yellow rectangular stickers and go from there. Today it’s chicken mince that’s definitely on the turn, rounded out with a courgette and a carrot, $5.72. I stir fry them together, dousing them liberally in oyster sauce and garlic.
Total daily spend: $196.72
Day Five - Friday
What I wore:
Another Cos clean cut tee, $75, a Twenty-seven Names jacket that I bought from Tatty’s in January ($63 from memory), a World skirt I bought from my favourite Instagram vintage seller for $51. It was a slightly awkward midi length but I got it altered at Silhouette Alterations for about $30 to be my preferred length (short).
What I spent:
I got pulled in by the aroma of the hot chicken warmer when I returned to Countdown to collect my prescription. A box of three chicken strips set me back $4.58. They were… extremely dry, even when dunked in ketchup pilfered from the work fridge. Later I buy a packet of gum (always Wrigley's Extra spearmint), and a banana, $2.25.
I stopped in at the Underlena showroom on Ponsonby Road after work to preview their Last Chance sale. Underwear is something I take great pleasure in spending money on and Underlena’s owner Maxine is one of the nicest people in the business. I bought a Great Eros bra and a Dora Larsen set, $246.40.
The sun has come out and I walk up to Georgia Jay’s workroom on Symonds Street, leaving with a handbag I was not intending to purchase, $360 (originally $410 but I had a voucher for an extra $50 off).
It’s been a chaotically and abnormally extravagant week of spending (I promise!) and I feel sweatingly panicked and guilty for not being more financially prudent, but also remind myself I don’t actually own a proper handbag yet and that local fashion retailers are really struggling at the moment. Back home I eat the other half of the stirfry before going to see a contemporary dance show with a reviewer friend who has free tickets.
Total daily spend: $613.23 (gulp!)
Day Six - Saturday
What I wore:
After setting up multiple saved searches on various reselling websites I finally found this Karen Walker Liberal and Miserable sweatshirt on Designer Wardrobe in January. I paid $41.50 for it. Couldn’t begin to tell you where these leggings came from, probably ‘borrowed’ them from my mum to walk the dog and walked them all the way home with me. These sneakers are by Barcelona brand SAYE, they were technically free, gifted to replace another faulty pair I received as a Christmas present a few years ago. I paid $45 for the shipping. Ubiquitous Blunt umbrella and Georgia Jay handbag's first day on the job.
What I spent:
Saturday is for errands. I do washing and then set out on a big walk around the Domain while I listen to my favourite podcast, See Also, as is my weekly tradition. Today it is pissing with rain and I stop in at cafe Billy to get a long black, $4.50.
I shuffle down to Newmarket in time for an eye test at Specsavers. They appear to be having a fire sale or something because it only costs me $30 and the assistant tells me to disregard the label price on all the glasses. In the afternoon I walk to my brother’s house to finish watching the final hour of Zodiac. I order my favourite food, a spicy tuna poke bowl, $22.44 to be delivered to his house and on the way pick up a can of soda for him and a packet of candy for me, $5.19.
Total daily spend: $62.13
Day Seven - Sunday
What I wore:
Nudie Jeans and Zara ballet flats again. Breton top is from Saint James, my mum bought this one back from London for me maybe five years ago, but I also have a baggier, more worn version that is well over a decade old and I still wear on the reg.
What I spent:
I Uber, $13, to Wynyard Quarter to take the dog for a walk and use mum’s Nespresso machine. Then I get the City Link bus into Britomart. I’m early for my train so I go to Best Ugly Bagels and get a filter coffee, it’s $2.90 and somehow this saving makes me feel like I’ve clawed my spending back into the black.
I picked up a cookie from Gloria's for $6 as a treat for a friend. She’s visiting home from California for the first time since having a baby and I tell her I can meet her somewhere that is easy for her, which is how I find myself at Sylvia Park on a Sunday Morning. We park up at Sushi Train to catch up on our lives (she paid) then lap the mall four times while we gab. I get lured in by a 50% off sale at Bendon, $58.45, then train back to Britomart. My Hop Card balance dips below $5, triggering my auto top up, $10.
Total daily spend: $77.35
