Money Matters: Te Kahukura Boynton, Māori Millionaire

How has changing your money mindset impacted your overall wellbeing and quality of life?

The biggest shift happened when I sought support to heal my money mindset. From once being controlled by money – my mood, behaviour and lifestyle all being dictated by what I did or didn't have – I learnt to take control of money.

This journey enabled me to live my best life regardless of my income, which is important because life, money, results can naturally fluctuate! Now I remain consistent, persevering towards my goals, no matter what.

 What advice would you share with others who are wanting to improve their money habits?

Our lives are products of both the decisions we make and our past conditioning. One shift I made which led to massive leaps in my income was to stop making decisions rooted in scarcity and instead focus on abundance. Instead of saying ‘I can’t afford a coach’ (to help grow my business), I started asking: ‘how can I afford a coach?’

The shift is challenging because naturally our minds want to protect us and keep us safe. Doing something new opens us up to a lot of uncertainty which puts us on high alert. To avoid risks we'll often self-sabotage: procrastinate over getting the coach, spend the money elsewhere... This is why we must remain aware of what’s going on so that we can use our conscious mind to put an end to it.

Who or what do you credit for your ability to turn around your money habits and recognise when things weren’t going how you wanted them to?

I credit my own ability to take radical responsibility for the choices I made which had ultimately led to me not having money. Many people remain stuck in the situations they're in – blaming other people, experiences or things that caused it. But I managed to stop blaming and instead validate my experiences. I also made a game plan to change for the future. I knew that absolutely no one could do this for me, it was up to me.

How do you approach budgeting?

I actually hate the word budgeting! I personally use the term 'money plan'. The words we use are so important, and to me, a money plan is far more powerful than a 'budget'. I have a very simplified approach to money planning, and I encourage others to as well.

If you work best with a large Excel sheet, by all means do that! But for a lot of people, it's far more manageable to use paper, or a word document with two columns: one for incomings and another for outgoings. Do what works best for you.

Where do you think it’s worth spending money, and where do you think you can save it?

It’s worth investing in yourself. You are your best asset, after all.

I think money could be saved on consumerism. Shops are very strategic: if it's not a Christmas sale, it's an Easter sale. Money is a resource, not something to be chucked away on random things we don't really need.

Do you have any money-saving tips that work for you?

By reverse-engineering any goal you have, you can break down how much you'll need, say on a weekly basis.

I also like to open a separate account, put an automatic payment on, set and forget. Bonus points if you can hide the account from your view or open it at a different bank so you can't see it on your phone banking.

What’s the first and last thing you would cut from your spending if you had to make some savings?

As I said earlier, focusing on increasing your income is far more effective than cutting costs. But if I had no choice, the first thing I would cut is going out for food or drinks. The last thing I'd cut out is insurance. To a lot of people that’s often the first thing to go, but this only creates more problems if and when you need it.

Do you have an ultimate financial goal? What does it look like? Have you achieved it?

My goal posts always move! One day it was to work for myself, which I achieved. Then it was to grow a six-figure business, which I was also able to achieve. Now my goal is about increasing the impact of my business. I know that the more knowledgeable I become, the better I can coach and support my community and, as a byproduct, I'll be able to increase my income even further.