Me and My Money: Leah Panapa

Radio host Leah Panapa shares her views about money.
Radio host Leah Panapa shares her views about money. Photo credit: Newshub.

"Carrying cash works well - especially in group situations where each person puts their share in the middle of the table.

"This saves mucking around with individual cards."

Leah Panapa, night host (7-11pm), Magic Talk.

Money.  It's the driving factor behind many life choices, but is it the be-all and end-all?

'Me and My Money' is a new feature that investigates Kiwi attitudes towards money and what drives the choices they make.

Newshub spoke to Leah Panapa, broadcaster of 33 years and night host of Magic Talk, about buying quality, splurging on business class tickets to Fiji and the virtues of carrying cash.

Are you a saver or a spender?

I'm a bit of both. I try to put money aside every payday, as I like to have a 'buffer'. If I'm saving for a specific goal, such as a holiday, I'll focus on saving... but what girl doesn't like to [indulge in] a bit of shopping from time-to-time?

You need a new dishwasher. Are you mainly driven by quality, price or both?

I mostly shop on quality, because 'you get what you pay for' and I don't want to be getting another dishwasher in 12 months' time.

Give an example of a recent purchase that you consider great value for money:

A lounge suite from King Living - one of my 'wish list' stores.  We waited for a half-price sale and swooped in! 

Have your buying habits changed from in-store to online?

[There are] a handful of retailers I shop online with - mostly cosmetics and a couple of clothing brands. In general, I like to go in-store.

If you have spare money to invest, which option would you choose: property, the sharemarket or something else?

Property!

What was your last impulse or 'fritter' purchase and how did you feel about it afterwards?

Business Class tickets to Fiji, for a rather significant birthday! I felt it was money well spent.

Do you have a household budget?

Not as such. We have a monthly budget to cover the amenities (power, phone, etc) but the weekly food bill and other miscellaneous items varies from week-to-week.  

Does having more money increase happiness?

It depends on how much more.  If all financial worries could be taken care of, then it should increase happiness.  I'm sure there are plenty of miserable millionaires out there, so it really is up to the individual. 

What is your golden rule for saving money?

Set a goal - 10 percent from every pay packet - or what [feels] comfortable.  

Move savings from the everyday working account to [remove temptation] to accidentally spend and don't dip into it until the goal is reached. 

How much cash do you have on you right now?

[To be exact] - $481.80.  I don't normally have that much in my purse, but I'm a fan of cash. 

I have all the cards: MasterCard, Tap & Go, but carrying cash works well - especially in group situations where each person puts their share in the middle of the table.  This saves mucking around with individual cards. 

Carrying cash is also a good way to keep a track of spending.

 

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