"In 1992, I was told, 'When you move to Auckland, make sure you buy a house'.
"This was advice I failed to take. I was way more keen on that BMW - an expensive lesson learned."
Robert Scott, Host of The Breeze drive show.
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 regular feature that investigates Kiwi attitudes towards money and what drives the choices they make.
Celebrating 30 years as host of The Breeze drive show, Robert Scott spoke to Newshub about his passion for vinyl records, the one gardening tool he wouldn't be without and why buying an expensive car before a house was a mistake.
1. What is one of your New Year's resolutions?
To buy more vinyl.
This won't happen as my father-in-law was a bank manager and as a result, my wife is very smart with our finances.
2. Are you a saver or a spender?
I can't buy enough vinyl records - that's my thing… even to the point of sourcing them from overseas.
I recently bought Th' Dudes first album. It came all the way from Germany.
3. What was your biggest financial lesson, success or failure?
When I was younger, I saved up for a BMW.
It cost me a small fortune, then another small fortune maintaining it.
Getting a new key cut cost me $30. I had the car a year until I realised I was close to spending more money keeping it on the road than it did to buy it in the first place.
4. Give an example of a recent purchase that you consider was great value for money:
A leaf blower for $200.
I used to think these things were pointless, but it's been life-changing.
5. What was your last impulse or 'fritter' purchase and how did you feel about it afterwards?
After being burned by a car purchase in 1992, I'm quite careful.
6. If you had spare money to invest, what would you invest in?
Property all the way.
They're not making any more land. Over the last year in particular, New Zealand went up in value.
7. Does having more money increase happiness?
Not necessarily, but it does buy more vinyl and can make life easier.
8. What's the best money advice someone's ever given you?
In 1992, I was told, 'When you move to Auckland, make sure you buy a house.'
This was advice I failed to take. I was way more keen on that BMW - an expensive lesson learned.