Am I Missing Something? (Salary/Cost of living) - Page 5

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Am I Missing Something? (Salary/Cost of living) - Page 5


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  #41 (permalink)  
Old 28th April 2014, 10:44 PM
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I've lived in NZ for 3 years, on a salary of approx 35K a year, minus taxes. My husband's pay is about the same, so 70K together - pretty humble even by NZ standards, but definitely "liveable".

To break it down into weeks, 70K a year makes about 1000 dollars a week to cover

200 rent (1 bedroom apartment)
25 gas (hot water and cooking)
25 power (well-insulated passive solar building)
25 internet and phone
150 food (2 people, lots of dairy, veggies and fruit, but no alcohol or trash food)
75 car (petrol, comprehensive insurance and wof for 2 cars)
100 everything else (video rentals, going out etc)

That leaves about 400 dollars for putting away into savings account, each week. Over a year, that makes for 20K of savings.
2 years on, I've decided to revisit this topic: several of my circumstances have changed since the original post and I have a feeling that some people may find it helpful to see a breakdown of numbers, rather than general talk along the lines of "100k is enough" or "100k isn't enough".

Before going into details though: please bear in mind that this is my (!) experience and my (!) life choices, so whilst I do not expect this scenario/budget to work for everyone, I know it works well for many. So: if you find my post helpful, good on you, and if you don't, well, tough luck then.

Alright, here we go.

We used to be a young couple with part-time jobs and plenty of time to enjoy ourselves; now, however, we have become a young family with a small child and a single income. I stay at home full time to take care of our baby and my husband works full time. (Going by my experience, it is standard practice in New Zealand - many (if not most) mothers stay at home until children are 1 or 2, and only then resume work, often part-time.)

My husband's earnings are 70k a year, mine are 0, so income-wise we are exactly the same as two years ago when we were both working part-time - 70k total, so around $1000 a week.

Expenses, however, have risen, mostly because we have moved to a bigger house which involves paying higher rent and higher utilities' bills. In weekly payments we are looking at:

270 rent (2 bedroom house)
50 firewood (badly insulated house with a log burner)
35 power (including hot water)
30 internet and phone
150 food (2 people, lots of dairy, veggies and fruit, but no alcohol or trash food)
120 car (petrol, comprehensive insurance and wof for 2 cars)
120 everything else (video rentals, going out, baby gear etc)

We are still managing to save around $200 a week, so 10k a year.

All in all, I would say - just like I did two years ago - that 70k is a livable income. Final numbers will depend on your own expectations and your own comfort level, but for me, this works for now.

When I return to work in a year's time - or two - I expect that we will be able to buy a house on a reasonable mortgage, with savings accumulated entirely through our New Zealand experience. Between me and my husband I expect our income to go up to around 100k-110k a year which I expect to allow us for a comfortable living standard whilst not having to wait 30 years to pay off a mortgage.

So that's my 2 cents. Hope it helps.
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  #42 (permalink)  
Old 29th April 2014, 12:12 AM
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Quote:
Originally Posted by suslik View Post
2 years on, I've decided to revisit this topic: several of my circumstances have changed since the original post and I have a feeling that some people may find it helpful to see a breakdown of numbers, rather than general talk along the lines of "100k is enough" or "100k isn't enough". Before going into details though: please bear in mind that this is my (!) experience and my (!) life choices, so whilst I do not expect this scenario/budget to work for everyone, I know it works well for many. So: if you find my post helpful, good on you, and if you don't, well, tough luck then. Alright, here we go. We used to be a young couple with part-time jobs and plenty of time to enjoy ourselves; now, however, we have become a young family with a small child and a single income. I stay at home full time to take care of our baby and my husband works full time. (Going by my experience, it is standard practice in New Zealand - many (if not most) mothers stay at home until children are 1 or 2, and only then resume work, often part-time.) My husband's earnings are 70k a year, mine are 0, so income-wise we are exactly the same as two years ago when we were both working part-time - 70k total, so around $1000 a week. Expenses, however, have risen, mostly because we have moved to a bigger house which involves paying higher rent and higher utilities' bills. In weekly payments we are looking at: 270 rent (2 bedroom house) 50 firewood (badly insulated house with a log burner) 35 power (including hot water) 30 internet and phone 150 food (2 people, lots of dairy, veggies and fruit, but no alcohol or trash food) 120 car (petrol, comprehensive insurance and wof for 2 cars) 120 everything else (video rentals, going out, baby gear etc) We are still managing to save around $200 a week, so 10k a year. All in all, I would say - just like I did two years ago - that 70k is a livable income. Final numbers will depend on your own expectations and your own comfort level, but for me, this works for now. When I return to work in a year's time - or two - I expect that we will be able to buy a house on a reasonable mortgage, with savings accumulated entirely through our New Zealand experience. Between me and my husband I expect our income to go up to around 100k-110k a year which I expect to allow us for a comfortable living standard whilst not having to wait 30 years to pay off a mortgage. So that's my 2 cents. Hope it helps.
Cool.
Always good to add some figures in the mix for people coming here to think about.

Have you considered benefits being that you are a single income family with a child ?
On $70k a year you could get rent assistance and working families tax credit !!! Probably wouldn't be much but it all helps.
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  #43 (permalink)  
Old 30th April 2014, 07:18 AM
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Here is a thought for you, you pay for firewood. Can you not contact a local joinery company or visit sites and ask for scrap wood. Back home my uncle had a coal fire, we got in contact with a local joiner after I said about the amount waste wood joiners throw away, it saves them paying for a skip more often and you get free heating. Win win.

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  #44 (permalink)  
Old 16th May 2014, 12:01 AM
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Here is a thought for you, you pay for firewood. Can you not contact a local joinery company or visit sites and ask for scrap wood. Back home my uncle had a coal fire, we got in contact with a local joiner after I said about the amount waste wood joiners throw away, it saves them paying for a skip more often and you get free heating. Win win.
Scrap wood is a trade-off between money and time: you either pay money for firewood delivered, or you spend time bringing home scrap wood. Depending on what you have more of - money or time - you choose which one to go for.

We have made the decision to simply buy wood and keep that spare time to spend as family instead. Money is not abundant at the moment, sure - but time is even less so, especially with a baby in the house.

To be honest, some of our firewood IS self-sourced (given there were a few trees that needed bringing down on the property and my husband is good with a chainsaw), but to put any more effort into self-sourcing firewood given how much of it we'd need to really make a difference... (House is very badly insulated so we're burning through a lot.)

Nah, it wouldn't be worth the effort.

Besides, for good overnight burns we use blue gum or hardwoods, in big chunky pieces - good luck sourcing THAT from scrap wood places!

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Old 22nd May 2014, 08:13 PM
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Cost Of Living Comparison

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Old 29th May 2014, 07:23 AM
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Hello All, I have a query and hope someone can spare sometime to help me.

I am wondering what would be the average salary of ASP.NET developer with 7 years of experience? I have always believed on the IT jobs advertised on the job portals ranging from 90K to 120K but shockingly most of surveys, i checked yesterday, tell the average salary as 70000 with majority of the developers working in the bracket of 60000 to 70000. I asked few new immigrants and they said this is starting salary of a developer with 7 years experience. Once you have one year of exp in NZ it will get better. This is a very low salary considering the tax rate and I am making way better and paying no tax in the country I am currently living in. I want to see if there is anyone who can guide with his own experience and knowledge? I have total 7 years of experience with around 4 years of international experience with British company in dubai and a famous media group in doha

any help on this will be much appreciated.

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