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Speaker 1: You're listening to the Saturday Morning with Jack Teams podcast

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Speaker 1: from News Talk ZB.

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Speaker 2: This morning on new Talok Zibe, we've been talking about

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Speaker 2: cycling as a way to get a bit of exercise,

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Speaker 2: as a way to get to your destination, maybe slightly

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Speaker 2: faster if the traffic can be bad at your place,

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Speaker 2: but also as a way of saving a few bucks

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Speaker 2: on petrol. Jory sent me a note to so Jack,

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Speaker 2: e bikes involved plenty of peddling. Whoever it was who

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Speaker 2: texted you earlier this morning obviously doesn't understand it. In

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Speaker 2: order to ride an e bike you have to peddle.

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Speaker 2: It just assists you. I love my e bike, best

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Speaker 2: purchase ever. Thank you very much for that. Lisa Dudson,

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Speaker 2: our personal finance expert, in this morning with a big question,

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Speaker 2: can you save too much? Good morning Lisa, Good morning Jack.

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Speaker 3: How are you?

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Speaker 2: Yeah? Very well, thank you. It's a funny question because

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Speaker 2: usually we think of people not saving nearly enough, but

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Speaker 2: actually there are some who take it too far in

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Speaker 2: the opposite direction.

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Speaker 4: Yes, absolutely, And to be said, most of my career

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Speaker 4: respent I'm hustling people along to save more. But I

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Speaker 4: have had a couple of them stances where people have

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Speaker 4: been very very careful about how they've saved, and it's

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Speaker 4: manifested in.

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Speaker 3: A couple of ways.

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Speaker 4: So ones, I've seen a group of people that have

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Speaker 4: saved super super hard, you know, worked really hard as

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Speaker 4: well in quite long hours, get to retirement and maybe

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Speaker 4: an early retirement, and then they go, great, we've got

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Speaker 4: a great amount of savings with can me tire a

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Speaker 4: little bit early? And then they go, now what because

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Speaker 4: they've spent their life been so careful with money that

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Speaker 4: they haven't spent a lot of money on.

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Speaker 3: Messai.

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Speaker 4: Sometimes family experiences hobbies and they don't know what to

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Speaker 4: do with themselves. And you know, I've had a couple

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Speaker 4: of situations with men in particular who's the wives had said,

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Speaker 4: you know a lot, honey, you've been home, you know,

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Speaker 4: you've retired three weeks and we don't find something to do.

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Speaker 4: We're going to get divorced because I hope with you

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Speaker 4: driving me nuts around the house all day underneath my feet,

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Speaker 4: so you know, you see it. But though you know

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Speaker 4: those situations, the other thing that I've seen all young

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Speaker 4: people on the opposite side is the fire movement, which

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Speaker 4: is you have you come across that.

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Speaker 2: Yeah, I have. I follow a couple of fire blogs.

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Speaker 2: So this is the people who work really hard, save

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Speaker 2: heeps young and try and retire early.

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Speaker 4: Right, yes, absolutely, so it's financial independence retire early. And

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Speaker 4: so you know a lot of people are super super

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Speaker 4: careful with their money, like I've seen examples of the

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Speaker 4: extreme examples where you know, they'll soak their shavers in

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Speaker 4: olive oil because they'll last twice as long. And you know,

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Speaker 4: I mean, you know, they're going to recycling botex to

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Speaker 4: buy clothes, which I think is a really good thing

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Speaker 4: for the environment and for your pocket. But they're doing

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Speaker 4: it so doing it really really tough. And they might

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Speaker 4: have enough money that they retire in.

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Speaker 3: Their you know, mids booties or even mid.

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Speaker 4: Forties, like quite young. But then what they're finding is

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Speaker 4: is that they've got just enough to retire. But now

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Speaker 4: they've got all this time, their friends are still working

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Speaker 4: and they've got time, so they want to do hobbies

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Speaker 4: and they go, well, we've got enough to cover our bills,

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Speaker 4: but we don't actually have any money to travel or

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Speaker 4: do a lot of these hobbies. So and then they

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Speaker 4: kind of go, hmm, it kind of didn't work out

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Speaker 4: the way that I expected.

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Speaker 3: They've come across that quite a.

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Speaker 2: Lot, have you, of course that that's interesting so as

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Speaker 2: the people have actually kind of the thought that achieving

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Speaker 2: the dream and I mean, it's an amazing thing to be

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Speaker 2: able to you know, get to that get to that point.

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Speaker 2: But actually they've realized that. I personally think that maybe

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Speaker 2: having having a bit of work, and I am a

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Speaker 2: bit of a workaholic, but it's it's quite nice to

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Speaker 2: have that purpose in your life.

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Speaker 4: That and that's there in life. The challenge, and that's

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Speaker 4: what I found with a lot of people is partly,

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Speaker 4: you know, they've got no one to play with because

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Speaker 4: mostly friends are still working. And then they go out

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Speaker 4: and they pay well, I want to go fishing, and

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Speaker 4: once I've done six months of fishing couple days, they're

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Speaker 4: going to go well on.

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Speaker 3: Wind and got over that. Now, Yeah, I'm a board

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Speaker 3: of doing that. So and I think having a purpose

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Speaker 3: in life is super super important.

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Speaker 4: And it's trying to find a balance between you know,

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Speaker 4: what you're safe for now and what your same has

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Speaker 4: been today and what your fame has been for the future.

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Speaker 4: Because saving is essentially matters, but so does living right.

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Speaker 4: So you don't want to put off too much living.

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Speaker 4: But on the other side of you don't want to

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Speaker 4: have too much living today and then have no living

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Speaker 4: in the future because you've got no money. So you

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Speaker 4: really want a reasonable balance of both things.

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Speaker 2: Yeah, be able to strike a happy media maye. That

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Speaker 2: makes a lot of sense actually, and sometimes people just

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Speaker 2: need a wee bit of a nudge either way.

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Speaker 3: Yeah, that's right.

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Speaker 4: And I think putting goals in place too, you know,

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Speaker 4: I like Sadians thinking about emergency saving. So car breaks down,

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Speaker 4: you've got a bit of money short term, which is

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Speaker 4: things like going on holiday, medium term house deposit, long

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Speaker 4: term retirement. So I think, you know, those four buckets

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Speaker 4: are quite a good way to save. And I love

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Speaker 4: people putting goals around it, like, you know, specific purposes

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Speaker 4: for saving, because I think when you have a specific

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Speaker 4: purpose save Yeah. Yeah, totally, And that's what it's about

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Speaker 4: at the end of the day's motivation.

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Speaker 2: Right, Very good, Hey, thank you, Lisa, really appreciate it.

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Speaker 2: Personal finance expert Lisa Dudson with us This Morning.

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Speaker 1: For more from Saturday Morning with Jack Tame, listen live

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Speaker 1: to newstalksz' B from nine am Saturday, or follow the

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