‘I was born working class – now I spend £20,000 a week as an expat millionaire’
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I come from a traditionally working class family in the north of England, but I was very fortunate both my parents went to grammar schools and pushed themselves to have good careers.
At that time, it was very unusual to have a well-paid working mother and they were both excellent role models. As they earned better salaries, we moved from an industrial area to a lovely town with the countryside at our doorstep.
Money was certainly not tight, but my parents only ever spent on worthwhile things and were very careful not to fritter on rubbish. I’m sure that influenced me a lot.
I went to my local comprehensive, which was a former secondary modern, got the top grades in my O and A levels and was the first from my school to get a place at Cambridge University.
As was the norm at the time, my tuition fees were paid for by the local authority and my parents gave me exactly the same living money as the full grant. I worked in finance in London in my summer holidays, to boost the coffers, subletting a friend’s bedsit.
That’s when I realised that London is fabulous, but extremely expensive and possibly quite grim if you don’t have serious money. I also realised the advantage of geographical accident. For example, a young PA living with her mum and dad in Kent could commute to the City and earn a bomb. Those jobs were simply not on offer in the North.
After university, I went into investment banking in the City. It involved a lot of international travel which I loved and I was based in Europe a lot of the time, living in Spain, Italy, and Portugal for quite significant periods. It was very demanding work, but I earned well and bought my first three-bedroom flat in north west London in my early twenties.
My employer offered a cheap mortgage as a perk which insulated me from high interest rates. This would be completely unachievable now without serious help from the Bank of Mum and Dad.
In my late twenties, I decided to do an MBA because I wanted to move on from the intensity of the City. I paid my own fees and, having recently married, my husband picked up the slack for our living expenses for my year of study.
However, a few years later we got divorced – both of us had been doing too much travel with work so we didn’t spend much time together. I took up an opportunity with my employer to move to New Zealand. I liked the country from previous holidays and it was very easy to settle in although I was startled at the cost of living. Absolutely everything seemed to be twice the price as in Britain.
I met my now husband 20 years ago. We had both realised that people with serious money inevitably were entrepreneurial and had their own businesses. So, having a decent idea, we decided to pursue that.
It was extremely demanding, hard work and took massive efforts from both of us – including taking the terrifying risk of investing a lot of our savings because we didn’t want to take on debt. The businesses were always profitable and we’ve grown steadily and carefully.
Vital statistics:
Age: Late 50s
Post-tax annual income: Several million
Mortgage: None
Bills: £21,000 (home insurance, electricity, gas, water)
School fees: £25,000
Subscriptions: £2,000 (Sky, Netflix, Disney+, Spotify, magazines and newspapers)
Day 1
I wake up at 5.30am and start the day with eggs and toast and our trusty coffee pods. It’s the start of an admin-heavy week. Our personal accountant needs a lot of information to complete five tax returns but it doesn’t take long and I fire it all off to him.
I head to the post office to send back a parcel of t-shirts friends of ours left behind when they stayed with us at the weekend (NZ$11.50). I carry on to the wholesale flower market to buy a bouquet. They are a third of the price of our local posh florist (NZ$61).
Then it’s off to the local grocers to stock up on good quality fruit and veg, which costs me NZ$59. I’ve also got to pay the annual premium for our safe, it gives us secure off-site storage options but it sets me back NZ$800.53.
I go home to have egg salad for lunch and stay in for the rest of the day. I also pay the monthly Disney+ subscription (NZ$14.99) as well as cloud storage (NZ$3.49).
Total: NZ$950.51 (£461.55)
Day 2
I wake up early again so I can spend a couple of hours reading board reports and monthly financials and prepare some questions for the managers.
By 8.30am, I am off to the supermarket for coffee pods, green-lipped mussels and fresh bread (NZ$143.19). At 9am, our housekeeper arrives. She is excellent; she cleans the house top to bottom and changes the beds each week. We pay her NZ$400 per week which is very decent for six hours.
At 10.30am, I head off with my husband and son to look at glamorous cars at the nearby dealerships. I think they thought we were “tyre kickers” (a person who has no intention of buying) which suits me fine because I am.
The three of us then go to lunch at a sushi restaurant (NZ$56.10). That’s the last thing I spend money on today. I cook the mussels with a salad for dinner and we go for a long walk as a family with the dog afterwards.
Total: NZ$599.29 (£291)
Day 3
Today was a day full of chores. At 8.30am, I drop our dog off at the groomers and then dash home to let in the landscapers who are helping to remodel our garden.
I escape to the hairdressers for a very nice blowdry (NZ$80) and then I’m back home to give my son petrol money for his car (NZ$50) and pick up the dog (NZ$110).
After a lunch of soft boiled eggs and asparagus, I go shopping for an outfit for an upcoming wedding. I spend NZ$899 on the dress, NZ$319 on shoes and I get a second pair of shoes for NZ$129. I’m very content because I’ll wear these pieces a lot, so they are useful.
I take some jewellery to be valued. It’s a requirement of the insurance company. Each valuation costs NZ$120, but the jeweller waives the charges because we are quite good customers.
In the evening, I can’t be bothered to cook because it’s too hot so I have cheese on toast and berries for dinner. I walk round the block with my husband and dog going the easy route because it’s so humid. We’re tempted with the pub, but dogs aren’t allowed in.
Total: NZ$1,587 (£770.62)
Day 4
While my husband takes his car to the car wash, our son washes my car and his own in the drive, which is free.
I go to get fruit and veg from the grocers (NZ$82.29) and visit the supermarket for essentials (NZ$145.88). I also buy some lemon sorbet from the local homemade ice cream shot (NZ$17).
My husband goes to the wine shop to replace the booze we consumed over Christmas (NZ$365.86) and the Spotify bill comes through (NZ$34).
My son gets an Uber (NZ$20.42) to transport his girlfriend to our house. The driving law in New Zealand means a young inexperienced driver like him can’t drive another young inexperienced driver and she hasn’t yet got a licence to drive herself.
In the afternoon, our family friend arrives and brings a gorgeous bottle of champagne – we feel spoiled. We all have a nice G&T at home before heading to the local gastropub for dinner where our friend covers the bill.
Total: NZ$665.45 (£323.13)
Day 5
With our friend staying overnight, my husband and I cook a full English breakfast at home for our guest and we’re joined by another couple of friends visiting from out of town and we all have a lovely catch up at home.
In the afternoon, we head into the city to have a late lunch at a seafood restaurant. We pay NZ$933.80. Our friends all head off back to the airport and we cadge a lift home in one of their Ubers.
It’s still really hot and humid and we’ve had the air conditioning on non-stop so we can sleep. It’s all cooled by impressive large scale heat pumps hidden outside and every room is separately controllable from a really good app. It’s the same for our swimming pool.
Total: NZ$933.80 (£453.44)
Day 6
My morning is spent wandering around art dealer galleries with the dog in tow. Our dog is clean and therefore allowed in. I see a nice picture which would fill a gap perfectly in our house. I say I’ll think about it. I always do this with pretty much everything, even if I really like something – I don’t impulse buy.
My husband joins me for a sashimi lunch at a local Japanese restaurant (NZ$30). I also spend NZ$5.50 for an hour of street parking which includes a 50 cent charge for using a credit card. The machine doesn’t take cash so you have to use a card and that’s irritating and cheeky of the council.
My husband takes NZ$500 in cash from an ATM. Our son has just got good exam results so a chunk of that will head his way.
In the afternoon, I book our next trip to Europe. We’re heading there in a couple of weeks’ time. Flights, first class with Emirates are NZ$35,000. The accommodation still needs to be arranged, but I’ve got ideas. My husband is ok with me organising everything because he thinks I know what I’m doing.
At dinner, we discuss buying a home in Europe because we go a fair bit and it would make sense to have a base and stay longer each time.
Total: NZ$35,535.50 (£17,255.38)
Day 7
After a breakfast of toast and some fresh apricots, I pay the landscape stage invoice which is NZ$1,995. At 8.30am, I got to the hairdressers for a blowdry (NZ$65) and I take the dog with me so I can go straight to the beach afterwards to meet my friend with her dog.
I’m home by 11.30am and I pay the annual theatre membership subscription (NZ$20). It’s local amateur dramatics but it’s really good fun and well worthwhile.
I meet up with another friend for a catchup and gossip over lunch in the city. It’s a very trendy place but strange food and I get a weird dressing on mine. NZ$88 for the meal and NZ$20 for valet parking.
At 4pm, I begin some regulatory requirement work, but swiftly lose interest when I have to update a tricky spreadsheet. Instead I browse the auction listings for the forthcoming Elton John sale at Christie’s. There is one lot that my husband would love and I wonder whether I should register and bid.
Total: NZ$2,188 (£1,062.45)
Total for the week: NZ$42,459.55 (£20,617.57)
As told to Pieter Snepvangers.
