Results 1 to 2 of 2

Thread: Bay of Plenty/Tauranga: Salary and Cost of Living

  1. #1
    Join Date
    May 2017
    Location
    Canada
    Posts
    1

    Default Bay of Plenty/Tauranga: Salary and Cost of Living

    Hi everyone,

    Newbie here. Anyways, I currently reside in Canada and have been offered a position in NZ, Bay of Plenty region. Excited about the opportunity to live in unique part of the world and nice part of the country. At a minimum, a bucket list thing but who know, perhaps long term potential as well.

    One thing I'm curious about and not really sure about. I know the cost of living in NZ is in general higher than in Canada. In Canada, a $100K salary is pretty good in many place (minus Toronto and Vancouver) and goes a long way. I realize in NZ, a $100K salary is not going to be as good as most places in Canada.

    So, would anyone know what kind of lifestyle a single individual can expect making upwards of $100K NZ in the Bay of Plenty/Tauranga region? I can accept the fact that I can't save the same amounts I can here, money isn't the driver by any means, but obviously after paying my bills/expenses, I do want some resources left over for travel purposes to see the rest of NZ, one trip/year back home and perhaps squeeze in a visit to Oz each year. Don't want to be dipping into long term savings for this!

    If anyone has any insights, it would be really appreciated. Thanks

  2. #2
    Join Date
    Aug 2013
    Location
    Hawke's Bay -New Zealand
    Posts
    526

    Default

    I believe this article says it all.
    Financial adviser Liz Koh said she had dealt with clients with a household income of $200,000 who were having trouble.

    "They spend more on food than the average wage. I say 'do you think you could cut back on your food bill to save a bit more' and they say they couldn't possibly do that.

    "It's that distinction between needs and wants that is a very personal one."

    Some people on higher incomes would get into a mindset where they felt they deserved certain things such as a nice car and house and a holiday every year, Koh said.

    "If they don't get it they feel deprived. It is a psychological thing."

    "My approach is if you know you have a certain amount of income you make the choices on how you want to use that.

    "If you want to spend a whole pile on a house don't complain that you haven't got much to cover everything else. Take ownership, this is my income, how do I want to allocate it?"

    High earners were also less likely to carefully monitor where their money went, she said.

    Young couples, aged up to 34, had the highest level of adequate income, followed by retirees.

    Wellbeing was highest among retirees, adults without children and adults with older children.

    Young singles had the lowest wellbeing although they were the most likely to report adequate income, followed by solo parents.

    Auckland, Wellington and Canterbury households reported median income of $60,000 to $70,000 and all reported similar rates of comfort.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •