fitzandindiana

I know it's not really an answerable question but how well could a family of two adults and two kids of 18yrs and 22yrs live on 4000nzd a month, we would probably need a mortgage of 100000.00nzd but are not big drinkers so shopping wouldn't include loads of booze. I would be looking to find work once we were out there but probably for the first few months we'd only have hubby's salary to live on. I work in a bank as an administrator so i wouldn't be earning massive amounts of money.

giggyten

HI, We are just back from 6 months in NZ. I would say that food is priced similar to the UK, and some things ie butter, is more expensive in NZ. They do not have all the conveniece foods in NZ so depending on what you buy here, you might find it ok. They are more seasonal in fruit and veg, meat is much the same as here I would say.

Black Sheep

Are you talking NZ$ 4000 gross or after taxes? And where in New Zealand will you be moving to, that makes a huge difference? Are you sure you'd only need NZ$100,000 for a mortgage, do you know how much houses cost here and do you have a large amount to put down?

The NZ dollar is going to go down against the GBP I'm told (NZ$ is still sitting 'high' though not as high recently as it was over past year or two - and if NZ interest rates, which are about the highest in the world and are what have kept the NZ$ strong, come down as predicted in the next year, that will affect it against US$ - i.e. NZ$ will go down possibly a LOT more - and I'm pretty sure the sentiment is it will fall against the GBP as well. This could affect you both when you buy and if/when you sell - many have made big losses through infavourable currency conversion a few years down the line when they realize they want to return 'home'). Do you own a house in UK right now, and if so do you have the option to rent it out and rent here as well, at least to ride out these uncertain times in both UK and NZ? There is no tax benefit to owning your own home here, did you know that? Mortgage interest is 100% tax deductible on rental properties here, hence their popularity as investments, but 0% tax deductible on your own primary residence. Many people here actually rent out the house they own, and then rent (more cheaply) from someone else the property they live in. Other people have been selling their homes and then renting, sticking their house profits into term deposits earning 8 to 9% interest (taxable though) here at the moment.

$4000 p/m gross salary is not a lot for a family of four, NZ is not exactly a cheap place to live, certainly not when you earn your salary here in NZ$'s and pay NZ taxes and mortgage rates etc etc. In NZ cities there's a lot of choice of things to do, places to go, and there's skiing and other holidays options in some very nice places - and it's all mostly very expensive. We expected to be skiing at least a few times every winter, it was one of the biggest attractions for us. Well, we earn a pretty-good-by-NZ-standards salary and haven't been able to afford to go skiing once yet in 5+ years, and have only managed one 'modest' holiday. We live like NZers: pay cheque to pay cheque, with a lot of nailbiting going on in between. There have been so many unexpected costs/bills, mostly associated with owning a home here. Times are getting even harder here too (NZers are fleeing in droves to Australia for better pay & standard of living - and no unfortunately that doesn't mean they're just after a more materialistic life in a mansion by the sea, they're mostly looking for even just the most basic level of comfort that we in the west have always taken for granted and which many are not getting in NZ).

BTW, don't forget costs for returning to UK for holiday/seeing family/emergencies, you really should always try to factor that in somewhere in your calculations, as travel fares for 4 people could easily add up to more than several years of savings on a NZ salary!

Sorry, this is piece-meal info, and maybe not the sort of thing you want to hear. If you can answer the 'where to, and how much' questions above you'll probably get more useful information. Also, what is your normal spend in UK for necessities? And what kind of lifestyle do you hope to have here?

TA

fitzandindiana

Hi thanks for your replies.
Hubby will be on 4000nzd after tax, he is in a high demand job in the hospital theatres so there is no problem him finding work, we just haven't decided where in nz we would like to settle yet but son is at the moment at university getting his degree in Film and Special effects so he will probably want to settle near that line of work.
We live on the Isle of Man and are lucky at the moment not to be hit by the falling house prices of the uk, we are hopeing to take around £100,000 to put down on a mortgage. We will be renting for a while when we first get out there so i'm sure we'll have plenty of time to look around, i like the idea of buying a property to rent out and then us renting cheaper, i'm sure we'll look at all our options once there.
We are quite lucky in the fact that the kids are now adults our daughter will have just finished her A levels and son just finished university so hopefully they will find work too. Do you know how easy i will be able to find banking work, i don't have qualifications but have 10 years banking experience which hopefully will be enough to secure a job.
Thanks again for your replies

techieguy

4000 after tax! You are going to struggle. Believe me NZ is not cheap, especially food shopping. They have nothing like Asda or Tescos out there and the choice of foods i woeful!

love30stm

no Asda and Tescos well i never....and I don't agree! they have lots of choice here in New Zealand...it does not pay always to listen to these threads make up your own mind...

my husband earns the same amount I dont work we have a mortgage of $70,000, we go on holiday I have just been to Auckland the weekend (flying), we go out regular for meals and save money also...

and we drink wine regular also....

love30stm

It did help we had some money behind us for a house and things though...

love30stm

oh yes forget and have two girls 15 and 12 , who we support

techieguy

Well on that money you will have to settle for the less finer things in life.

...and many people moan about the supermarkets in NZ, they are 30 years behind the UK and will be full of Asian foods within a decade.

Hope you like noodles!

luvwelly

If you were renting sth habitable (at least 3 bedrooms for a family of 4?) say in Wellington you could pay anything from $400 per week to $1000+, let's say you found somewhere decent for $500pw - that's still half your net monthly salary gone in rent.
The quality of the rental stock is also an issue for most Brits I would say.

What is the attraction...what is so wrong with life on the Isle of Man...would your OH be taking a massive pay cut to come here? You probably wouldn't be able to live here mortgage free either which is what can make it viable for some to take a pay cut and the 'lifestyle' makes up for it supposedly.

I suspect your adult kids would find it a bit stifling here (especially outside Wellington, Auckland) just at the point that the world is their oyster. If your daughter wanted to do a University course how would that pan out with fees etc and location.
All three of you could probably get jobs as baristas in Wellington tomorrow but I doubt the pay is up to much. There are lots of Banks in Wellington which are more than just the branches and lots of Government Depts so you probably could get something in the admin line without too much difficulty.

Without disposable income - you would have burned your boats and be well and truly stuck here...and your kids may want to return to the bright lights of Europe. You don't mention it...so have you actually ever been here before? Do you know what you are coming to?
I agree with Techiguy on the finances and would go further ......you would struggle so much it would be totally miserable. I'd stay in UK and let your kids go off and see Europe if they want to! They'll be so isolated here and flights are expensive as everywhere is so far away. The Isle of Man is a stone's throw in relative isolation terms.

techieguy

It would be cruel to take your kids to NZ, there are no decent career options there, most ambitious young kiwis leave, your kids will do the same and you'll be left without them and loads of hoons driving up and down your street in loud cars!

Charlie Paynter

Your net income of $4,000 per month will (in my experience), depend on the size of your mortgage - but please listen to those who are saying NZ is expensive (in relation to income), as it is true.

We came back from NZ a little over 7 years ago and the ONLY reason was finance. I had a very well paying job (net take home then was just under $6k), but also a large mortgage (did not take over a great deal of Sterling). Although we did not struggle week to week, we could not see a secure financial future in NZ v UK, which is a pity as we LOVED living in NZ (Chatswood, North Shore).

Back in the UK, although it has its problems like weather, PC, traffic, crime, etc, because the ratio of income v outgoings is far superior when compared to NZ, we can to a very large extent, insulate ourselves from the negatives (ie, overseas holidays, living in a good area, saving for a decent pension), where in NZ, this was (and remains) very difficult.

I suggest that providing you are able to rely on a very low mortgage, it could work - but do your homework first and let your head rule your hearts.

To my mind, NZ is a great country if you embrace everything it has to offer - and do not make the mistake like others do of comparing it to the UK, as you tend to compare the negative aspects!

Best of British luck!

love30stm

Yes of course the Uk has no such problems with Career options or hoodie chav low life gangs.... wrecking parks, smashing shop windows living of the state blah blah,,, open your eyes.

we know you hate it here stop giving your negative feedback to people..

kids could leave in the Uk also.... I dont expect my kids to stay home and look after me in my old age or whatever...

left with nothing, kids leaving bliss..... a joke btw....god have a sense of humour, it always helps.

eddie_nz

There are career options for young people in NZ however there without doubt less per capita then in the uk.

Combine that with the debt the gov gives students and no wonder they leave.

Student debt has been a huge mistake IMHO drives the young from NZ

Charlie Paynter

And you do not think student debt is a problem in the UK? My 19 year old niece is just starting a 3 year BA course at Birmingham Uni and will be saddled with a £30k debt! That is after she has factored in her savings, grant and income from part-time jobs during the next 3 years.

It is all relative. I cannot imagine a NZ graduate coming out with a $80k-odd debt on a 'run-of-the-mill' course.