Are you the party planner in your whānau? It might be time to become the holiday planner as well! During Sorted Money Month 2024, we had the opportunity to kōrero with two mana wāhine, The Savvy Saver, Rachel Leutele and Financial Mentor Cat Rikihana.
Rachel got us excited as she shared about her upcoming holiday – including how she supported her extended whānau of 15 to collectively save for a trip to Samoa. She explained to us that it was her father in law’s dream “to take his entire family to Samoa”. Rachel understood the role she could play, in turning this dream, from aspirational to reality.
“I knew that my strength was planning, budgeting, organisation…we actually created this family fund and everyone paid me. So I had an account and everyone paid money to me because they weren’t very good at planning and budgeting but they knew I was.”
“It’s about having those conversations – what are your strengths, what are your weaknesses?”
She went on to explain the strategy;
“For the last two years, people, everyone’s been paying so many dollars a week into this account….. And during that time I did a lot of research around cheapest times to fly, cheapest hotels, like pretty much every single thing I researched and I broke it down into small amounts.”
“I broke it down into how many people were going, how much money everyone needed to save per pay week. And that’s how we managed to go on this trip with 15 of us!”
We absolutely love this story from Rachel, and the key takeaways including:
- Identify your strengths and weaknesses – who in the whānau is good at what and allocate roles so you are all working to your strengths.
- Do the research! Work out really specific amounts that you need to save for, before you start saving.
- Break down big goals into small, realistic amounts – weekly or fortnightly.
- Hold yourself accountable. Saving as a group may be more motivating than saving on your own.
Who do you think you would be in this situation? Think about the different strengths and weaknesses within your whānau, and what everyone’s roles might be.
Your dream holiday with your whānau may seem very far away, but starting to plan and save now can make a huge difference to your goals, as well as the options you may have when the big trip arrives.
Would you like to watch the full webinar? Just click here to watch it now: Sorted Money Month: Wāhine Webinar – Wāhine (whairawa.com)
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