Money Week Q&A: Dean Blair

Director, FoxPlan

Dean Blair is a Financial Adviser and Director of FoxPlan, one of the largest privately-owned Financial Planning practices in New Zealand.

Tell us a little bit about yourself Dean!

I am passionate about changing the face of Financial Literacy in New Zealand. I champion this change by running Financial Literacy workshops for young professional groups, corporates, colleges, universities and professional athletes in Wellington, Auckland & Christchurch.

I am married to Chelsy with 2 amazing kids 10 & 7, I also have a 25-year-old son and 27-year-old daughter and wait there’s more + 2 grandchildren. I am incredibly proud of all my children.

What’s the most satisfying thing you’ve spent money on?

When I upgrade my mountain bike!

What’s the worst thing you’ve spent money on?

Snails at a restaurant in France and kids shoes bought online (AliExpress) that got trashed in 4 weeks.

What’s the best money advice you’ve received?

Never sell property, and pay cash for cars.

What did you do with your first paycheck?

Workmates took me to the pub and got me drunk and Dad made me go to work the next day hungover.

If you’re going to drink like a man, work like a man.
— Dad’s wise words

How do you manage your money today?

Our (FoxPlan) financial planning tools. But am I meant to say PocketSmith? I am actually learning how to use PocketSmith at present.

What’s the most money you’ve found?

I found $20 on my front lawn! It was probably mine.

What’s your best money hack?

Pay yourself first. Save before you spend!

What is a money goal you are currently working towards?

Our next family offshore adventure. Bring on Wimbledon 2023 for my wife’s 50th. Sorry, Chelsy.

What are some expenses most people wouldn’t know you have, in your line of work?

As part of running my business I am required to pay regulatory costs to the Financial markets authority (AFA annual renewal fee). We also have ongoing compliance costs — disputes resolution service fee, professional indemnity insurance, professional membership fee (Institute of financial advisers) and ongoing professional development costs to attend education workshops, seminars and webinars. The has meant a significant cost to running my business each year both in money and time.

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