Can we live on this?

[eassae]

eassae, i think i've seen numbers close to 88k for just the wellington area.

Those stats come from nz stats.govt.nz

I posted this in another thread, and I think it is a very good comparison of equal sized cities in the US and NZ.

When we arrived (my wife and I, no kids) OH had a job that paid $75k. We weren't suffering but we had to budget and couldn't save more than a few hundred dollars a month. Our rent was $450, the place was a crap shack. If your in the hutt rent will be a little lower.

[Duncan74]

On a rent of $200 a week inc power, I lived pretty comfortably in the bay on 2-2.5k a month before Jane arrived. $300 a month for car as well. We currently pay $600 a week rent and our total monthly expenditure including $500 for car, 4 bought lattes a day, and bought take away lunches 2-3 times a week come to about $5k with no real attempts to economise.

[00chemist]

eassae, so I take it your vote is no?

[Duncan74]

You'll also note in a post last week that he described his 'crap shack' as a luxury apartment with ocean views, so I'd suggest that you consider a broader base of opinions than jsut the 3-4 you've had so far.

[00chemist]

and Duncan is a yes.

It's a two year contract. I really want this experience for my family. There is no chance my line of work will ever give me an opportunity like this again.

I'm not concerned about saving for retirement or to buy a house.

I just want to know that we'll be able to immerse ourselves in the kiwi experience and take a couple, not extravagant trips a year without being constantly scrimping every single penny. Or constantly worrying about the slightest fluctuation in expenditures.

I just can't get a read on this. It seems like all the research I've done has amounted to a big maybe. And half the people say it'll be fine while the half say we'll be underwater in no time.

[Duncan74]

It depends on your lifestyle aspirations. And within reasons then you cut your cloth accordingly. We don't do restraunt meals or go out to bars / pubs. But we do go to cafe's for breakfast very regularly. We don't smoke, but we pay race entry fees without a thought. We'd possibly go broke very quickly if we did all of those things, but we don't.

Our UK household income was around £100k. It's my view that at current exchange rates then that would go a lot further for us in NZ, based on our lifestyle.

But from a different perspective, then even if you have to economise in a few places, then the chance of a 2 year fixed term adventure / chance to live somewhere else is perhaps worth considering anyway? Or if you don't agree, if that's not the oulook your whole family have, then perhaps the opportunity genuinely isn't one for you?

[Sam B]

I would go for a slightly lower rent on that salary, remember to factor in phone, broadband, electricity, food can be pricey, cars, petrol, transport. Lots of people live on that money, but you certainly won't have much spare.

[00chemist]

Thanks Duncan. I guess I'm just a bit gun shy.
My biggest issue is that I've spent the last several years living paycheck to paycheck with never enough to last in between. My industry had hit a rough patch even before the recession started. In the beginning I wasn't concerned because I was in grad school and thought I could wait it out. Now I've been out two years and unable to find a job. The constant worrying about money has gotten to me.
As I mentioned before this salary would actually be a huge raise even with the exchange rates. I'm ready to go.
Since you've been so helpful would you mind offering advice, if possible, on locations to live around wellington? I can't decide if we want to be in the city or up on the west coast.

[Duncan74]

No idea, sorry. Went there on the recce, loved the place for a weekend, but we worked out it wasn't a place for us to live. There's plenty of forumites there that will be able to help, and indeed a search of the forum will see the options where otehrs have asked. If there isn't a post that matches what you're after then ask in a new thread with details of what sort of things you rate highly, (ie proximity to sea, schools, golf courses, swimming pools, cafes, etc). Where your office will be for travel.

[00chemist]

Ok, will do. Sorry if I'm repeating things. I've been searching this website for several weeks now and can't always keep things straight.
Another question for you and Sam.
So for a family of four (2 adults and 2 kids ages 3 and 1) I figure $250/wk for food would suffice even with the higher cost in NZ.
Any thoughts?