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Thread: Expenses for a family of 5 (3 kids and 2 adults)

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  1. #2
    Join Date
    Feb 2006
    Location
    Auckland via Toronto
    Posts
    61

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    As it happens, I just put a spreadsheet together for our estimated weekly expenses if my husband and I lived in Auckland. (We don't have children but are considering having a baby in NZ). I wouldn't mind some feedback on it and it might be helpful for other people.
    Assumptions: 2 / 3 bedroom apartment, one car, no kids, one international holiday per year
    Estimated weekly cost of living:
    Numbers picked from: http://www.enz.org/cost-of-living-in-new-zealand.HTML
    Expense: NZ $
    Rent: 450 (Auckland centre)
    Food: 192
    Other supermarket Purchases: 23
    House Maintenance: 15
    Clothing: 18
    Fuel: 22
    Car Maintenance: 12
    Public Transport: 15
    House Insurance: 7
    House Contents Insurance: 6
    Car Insurance: 5
    Internet: 12
    Telephone Local and National: 12
    Telephone International: 10
    Mobile: 10
    Council Rates: 33
    Electricity/Heating: 35
    Small Medical: 12
    Misc./Entertainment: 53
    Tobacco:
    Medical Insurance: 20
    Holidays: 150
    Christmas: 10
    Childcare: Note: childcare in a good preschool costs $160 - $200 per week
    Your total weekly spend is: $1,122 NZD

    Income Tax Rates ------------After-tax (limit)
    $0 - $38,000: 19.5%------------$30,590
    $38,001 - $60,000: 33% --------$45,330 ($30,590 + $14,740)
    $60,001 upwards: 39%

    Salary------------ After-tax------------After-tax per week
    $80,000------------$57,530------------$1,106
    $90,000------------$63,630------------$1,224
    $100,000-----------$69,730------------$1,341
    $110,000-----------$75,830------------$1,458

    Some notes about salaries in NZ:
    The result is that two people who each have salaries of $38,000 p.a. take home a total of $61,180 (that's $1,177 per week). A sole-earner with a salary of $76,000 p.a. takes home $55,090 ($1,059 per week). So the couple take home $118 per week more than the sole earner.

    In 2003, the average gross family income (including social benefits) in NZ was $73,929 for couples with children. The figure for couples with no children was $62,390.
    Last edited by Toronto_Kiwi; 10th May 2006 at 02:21 AM.

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