Money Week Q&A: Elyse Fraser
New Zealand professional road racing cyclist
Elyse is an all round type of gal — a gifted sportsperson, academic and police officer. While completing her Psychology and PE degree, she rowed for the New Zealand University Rowing team, which took her to Serbia and Hungary for races. Today, she’s a rider on the New Zealand Women’s Endurance Track Squad! 🚴
Elyse has been a Christchurch police officer for the past three years. Along the way she discovered a love of cycling and trained religiously during free time. For now, she’s swapped the badge for bikes! 👮
What’s the most satisfying thing you’ve spent money on?
Two years ago, I bought a new bike from Hub Cycles in Christchurch. I agonised for a long time deciding on what bike to buy, three days later I was hit by a car, and my brand new bike was written off!
But, talking about silver linings, after 10 weeks recovering from my injuries, I was on a new bike and back in training with a new coach — a combination I believe that helped me make the New Zealand Women’s Endurance Track Squad — something I had never dreamed would be possible.
What's the best money advice you've received?
The best money advice I have received was from Glen Sinclair at the Otago University Rowing Club, he told me to try and live like a student for as long as possible, even after getting a ‘real’ job and save everything extra.
What did you do with your first paycheck?
I got my first job at New World supermarket when I was 15. I didn’t have an EFTPOS card, so the money went straight into my account. Having to go to the bank to withdraw money made it a bit more untouchable. I think at the time I was trying to save up for a cell phone, but I bet some of it went on junk food.
How do you manage your money today?
Having put my job on hold for a year to take a spot on the NZ squad has meant quite a significant cut in pay which means I have to be extra vigilant with my spending and track it more carefully. It also means I’m not able to save for what I’d like to. When I get home from my current cycling campaign in America, I plan on sitting down with an accountant to get some tips from the experts.
What are some expenses most people wouldn't know you have, in your line of work?
Bikes are surprisingly expensive to keep running, especially with the amount of kilometres I do. This means getting it into the shop regularly to be serviced and have parts replaced. I also need to keep my body running, which means a big investment on nutrition products.
