"Previously, I haven't had an attachment to any car - they're just a tool in my opinion and certainly not an investment.
"Having upgraded to my current car four years ago, I love it so much that I'm not interested in upgrading it.
"To me, this purchase is spectacular value for money, as it's brought me unexpected pleasure."
Naomi Ballantyne, co-founder and managing director, Partners Life.
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.
As managing director of life and health insurer Partner's Life, Naomi Ballantyne says her biggest success is building a business.
The biggest misconception about insurance is that it's only for people who are already financially comfortable, she says.
Upgrading her car every few years hasn't provided value for money. But having bought her current car four years ago, the "unexpected pleasure" of owning it means she plans to keep it for longer.
To Ballantyne, that represents "spectacular value".
1. What's something you've learned from COVID-19?
That New Zealanders seem much more likely to comply with Government orders for the benefit of the country than other nations, particularly in comparison to Australia.
2. Are you a saver or a spender?
Both.
Now that our son is totally independent, our parents are gone and my husband and I really only have ourselves to worry about, I'm becoming more of a spender.
3. What's been your biggest financial lesson, success or failure?
Starting and building a business (Partners Life) has been my biggest financial risk and stress. It's also my biggest financial success.
As an entrepreneur, this combination of risk and reward has been my way of life.
I'm proud of what the company has become - but I'm even more proud of who I've been along that journey.
4. What's the biggest misconception about life insurance?
Although there are many, it's the perception that life insurance is something only financially comfortable people should think about.
For example, a basic, common financial goal is to be financially sound by retirement.
Losing the ability to earn an income due to an unexpected health event while building that financial security may prevent people from achieving that goal.
Insurance is most important when people are not yet financially secure enough to weather a loss.
5. Has COVID-19 affected life insurance cover offered to customers?
All existing customers of life insurance providers are covered for any claimable health impacts of COVID-19.
For new customers, cover hasn't been changed to remove or exclude health impacts of COVID-19.
6. Give an example of a recent purchase that you consider was great value for money?
I generally upgrade my car every two-to-three years.
Previously, I haven't had an attachment to any car - they're just a tool in my opinion and certainly not an investment.
Having upgraded to my current car four years ago, I love it so much that I'm not interested in upgrading it.
To me, this purchase is spectacular value for money, as it's brought me unexpected pleasure. For the first time, I can understand why people can become attached to their car!
7. What was your last impulse or 'fritter' purchase and how did you feel about it afterwards?
Although I really hate shopping for clothes and makeup, I absolutely adore shoe shopping - and that's where most of my 'fritter' purchases occur.
I bought some suede ankle boots from a designer shoe store for some ridiculous amount of money in May. Since then, I've worn them a handful of times.
What they cost is no longer in my mind. The knowledge that as soon as I can go out again, the boots can come with me, makes me very happy.
8. The best money advice someone's ever given you?
Growing up we were pretty poor: no one gave us kids any money advice.
Rather than advice, I'd say what I learned from that experience is that I never wanted to be living hand-to-mouth from one pay packet to the next.
It's strongly influenced my money behaviour.
The views expressed in this article are personal and are not professional financial advice.
