Roxy Burger: Always be conservative in your spending.

10/03/2016


Seasoned radio and TV personality, Roxy Burger is currently on Top Billing. She also produces and presents 5FM’s YouTube channel, 5FM TV; and she is a celebrity blogger. On her blog she shares her love for fashion, beauty, travel and weddings.  In this interview, Roxy talks about her money habits.

How did your childhood influence your attitude towards money?

I have been working since the age of 10 and my parents instilled in me a responsible attitude towards saving and the value of money. I think I appreciated the relationship between money and hard work and I do not take it for granted.

In this economic climate, have you downsized your lifestyle at all?

I haven't necessarily downsized but if I do earn a little more income in a month, since I'm a freelancer, I do ensure that I don't overspend.

Out of all your responsibilities (bills, groceries, etc) , what do you find to be the most expensive nowadays?

I have found that the cost of food has gone up and petrol is always one that hits you hard!

How do you save money when income from your kind of work is variable?

Basically I just save as much as I can because of the flux of income related to the type of job I do. I have a savings account that I put any excess money into.

Are you good with money or irresponsible?

I balance it well. I do spend a lot of money on travel but I believe that this kind of spending is never a waste. I do splurge now and again but generally I'm pretty good. I have to be because of the nature of what I do.

Have there been times where you’ve experienced money blocks or conflicting feelings about money?

I don't really think I have any money blocks that hold me back. I think I'm lucky that my dad had constant conversations with me about finance while growing up.

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How do you deal with financial setbacks when they happen?

I would use my savings but I do have a credit card for emergencies. If it's a large amount I would rather pull some money out of my access bond if need be, depending on the situation.

How do you define financial independence?

I think when you are able to balance your life, that is, you can pay for the lifestyle you want to live and manage to save money and invest in your future that is when you are financially independent.

Why do you think women should care and take an active role in managing their money?

Whether you are male or female I don't think one should ever be completely financially dependent on someone else.

Do you invest in shares? Why? Why not?

No I don't. I invest in policies and property. I would rather put money into my bond than shares. I don't have enough disposable income at this point in my life that I am willing to take that risk on the stock market.

If you have the choice between buying a home or investing in shares, which would you choose and why?

Buying a home. I believe in the long run it is a safer and better return on investment.

When you think of a comfortable retirement, what does that mean to you?

I think to simply maintain my current lifestyle and to be able to leave some money or assets for my children on day.

What’s the worst money mistake you’ve ever made, if you’ve made any? What did you learn from it?

I once racked up quite a lot of debt on my credit card because I was living beyond my means. It was when my husband and I (then boyfriend) had first bought our house and I wasn't used to all these new expenses that came my way. It's the little unexpected things that burn your wallet.

What tools or resources do you rely on to keep your own personal finances in order?

Excel! Spreadsheets are your friend!

What do you splurge on?

Travel.

What was the last item you regretted purchasing?

I spend pretty carefully so I don't have anything right now.

Do you have rules for lending money to friends and family?

I generally would advise against it but sometimes if you are able to help someone you love, then what needs to be done must be done. I would advise putting together a concise repayment plan and even have a written agreement in place.

Do you and your women friends talk about money?

Of course. Why wouldn't we?

What's the best financial advice you've ever received?

Always be conservative in your spending.

Pic credit: Georgia Groenewold Photography

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