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Money.....will we have enough for lots of shoes...?

Money.....will we have enough for lots of shoes...?

Old Apr 7th 2009, 3:35 pm
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Default Money.....will we have enough for lots of shoes...?

I wonder if anyone would be able to help me......
My husband has been offered a job with a wage of about $49,000 in North shore... so we would want to live around this area, we would like a modest house worth about $400,000ish we have about £50,000 towards a house. Would we be able to live on this wage? We wouldnt want boats or anything like that...we have money saved for a car so that would not be a problem...i just dont want to struggle, we wont be having mad holidays and buying diamondsi know that but will we be able to pay our bills.
Also im a hairdresser with 15 years experience, does anyone know of any good salons in the north shore that i can check out when we come for a recci later this year? I would only want to work part time as i have a little boy.
And does anyone know roughly how much hairdressers get paid??????
Sorry all these questions.............
xxxxxxxxxxxxxxx
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Old Apr 7th 2009, 5:36 pm
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Default Re: Money.....will we have enough for lots of shoes...?

Hi, I may be wrong here as me and the wife are going thru the process but i believe you need a salary offer of at least $55,000 NZ before they would let you in. I just got back last week and the opinion was 50 k would be enough to live on providing you didnt have a mortgage

sorry to be the bearer of bad news, Neil
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Old Apr 7th 2009, 8:38 pm
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Default Re: Money.....will we have enough for lots of shoes...?

Thanks for your reply, i just told my hubby about neededing $55,000 and he re worked the sums out and i converted it wrong luckily the job is for $55,000.......me and my maths, i am blonde and a hairdresser, thats my excuss, not saying all blonde hairdressers are not the sharpest tool in the box but i am...
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Old Apr 7th 2009, 9:45 pm
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Default Re: Money.....will we have enough for lots of shoes...?

Originally Posted by shopperholic View Post
I wonder if anyone would be able to help me......
My husband has been offered a job with a wage of about $49,000 in North shore... so we would want to live around this area, we would like a modest house worth about $400,000ish we have about £50,000 towards a house. Would we be able to live on this wage? We wouldnt want boats or anything like that...we have money saved for a car so that would not be a problem...i just dont want to struggle, we wont be having mad holidays and buying diamondsi know that but will we be able to pay our bills.
Also im a hairdresser with 15 years experience, does anyone know of any good salons in the north shore that i can check out when we come for a recci later this year? I would only want to work part time as i have a little boy.
And does anyone know roughly how much hairdressers get paid??????
Sorry all these questions.............
xxxxxxxxxxxxxxx
50K with a 400K mortgage???? and live?????

err, NO!
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Old Apr 7th 2009, 9:47 pm
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Default Re: Money.....will we have enough for lots of shoes...?

You'd be more pushed to find lots of shoes you'd want to buy!
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Old Apr 7th 2009, 9:56 pm
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Default Re: Money.....will we have enough for lots of shoes...?

I haven`t seen anyone wearing shoes over here.
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Old Apr 7th 2009, 10:16 pm
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Default Re: Money.....will we have enough for lots of shoes...?

It is not correct that you must gain a salary of $55K pa before NZ will let you in. That only applies to those applying under the Work To Residency policy with an accredited employer.

New Zealand will let you in if you have no salary at all provided you have enough points to get picked from the skilled migrant category pool.

Your husband will be perfectly fine to apply for a temporary work permit and/or PR - permanent residency under the skilled migrant category - with a salary of $49K per annum. He will need his qualifications and his work experience to match the job he is being offered.

If the occupation is on the long term or immediate shortages lists , then the employer is fine to have offered him the job.

Whether or not this is a reasonable salary for living in Auckland , I don;t know as I don;t live there. However, in this economic climate a job offer is worth a good deal.


edited here.....

I've just read your other post.

Is this job on the shortages lists?
I hope it is as then the employer is free to offer your husband the job.

If it is not, then that employer has to prove to NZIS that there is no NZ resident or citizen for that job. They cannot simply offer your husband because he has a relative at the company. The company will need to show they have advertised this job and that they have training programmes inplace etc.

Last edited by BEVS; Apr 7th 2009 at 10:20 pm.
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Old Apr 8th 2009, 12:41 am
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Default Re: Money.....will we have enough for lots of shoes...?

Anyone correct me if this is wrong please.

$49K pa would give you a gross weekly wage of $942 per week.

After tax this would leave you with $749 dollars per week.

House Cost $400K
Less Deposit $125K - conservative conversion of 2.5$ to £

Mortgage $275,000 over 25 years . Interest rate = fixed 2 yrs 6.25% .Weekly payments made. This would make a weekly payment of $418 dollars per week for your mortgage.

So you would have $749 take home pay
Less mort payment $418

Leaves just $331 a week for everything else.

I'd say that was too tight wherever you lived in NZ. Just my opinion mind you.
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Old Apr 8th 2009, 12:50 am
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Default Re: Money.....will we have enough for lots of shoes...?

Originally Posted by BEVS here View Post
Anyone correct me if this is wrong please.

$49K pa would give you a gross weekly wage of $942 per week.

After tax this would leave you with $749 dollars per week.

House Cost $400K
Less Deposit $125K - conservative conversion of 2.5$ to £

Mortgage $275,000 over 25 years . Interest rate = fixed 2 yrs 6.25% .Weekly payments made. This would make a weekly payment of $418 dollars per week for your mortgage.

So you would have $749 take home pay
Less mort payment $418

Leaves just $331 a week for everything else.

I'd say that was too tight wherever you lived in NZ. Just my opinion mind you.
I refer my learned friend to post No4 and it's contents, er NO

I know's from bitter experience and i's don't even live in Jaffa central- thankfully

Last edited by sparkie down under; Apr 8th 2009 at 12:50 am. Reason: should learn to spell
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Old Apr 8th 2009, 1:00 am
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Default Re: Money.....will we have enough for lots of shoes...?

Originally Posted by sparkie down under View Post
50K with a 400K mortgage???? and live?????

err, NO!
I am afraid even with a $265k mortgage you will struggle I fear. I note you have 50k GBP as a deposit and at $2.7 exchange that will drop the $400k house costs to $265k. At say 7% (interest only) that will be C$1550 per month. Monthly bills for the average household and ins. for 2 cars excluding petrol, food and any breakdowns are in the region of $1000 per month...not including any HP for the cars..one assumes you will own them outright. Food will be another $1k per month. So thats $3550 per month plus petrol plus incidentals. Alas take home of $55k is only around $3400 per month after tax. You really need to do the figures sooooooooooooooooo carefully. There is nothing worse than emigrating and being utterly on the bones of your arse. Its just not worth it IMO. Good luck.
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Old Apr 8th 2009, 4:57 am
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Default Re: Money.....will we have enough for lots of shoes...?

Originally Posted by BEVS here View Post
Anyone correct me if this is wrong please.

$49K pa would give you a gross weekly wage of $942 per week.

After tax this would leave you with $749 dollars per week.

House Cost $400K
Less Deposit $125K - conservative conversion of 2.5$ to £

Mortgage $275,000 over 25 years . Interest rate = fixed 2 yrs 6.25% .Weekly payments made. This would make a weekly payment of $418 dollars per week for your mortgage.

So you would have $749 take home pay
Less mort payment $418

Leaves just $331 a week for everything else.

I'd say that was too tight wherever you lived in NZ. Just my opinion mind you.

Which is less than my benefit, and I wouldnt want to try and live on that for long.
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Old Apr 8th 2009, 9:21 am
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Default Re: Money.....will we have enough for lots of shoes...?

Yes but you'll have the stunning scenery and amazing outdoor lifestyle to make up for the lack of money.
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Old Apr 8th 2009, 9:55 am
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Default Re: Money.....will we have enough for lots of shoes...?

Thanks for all your replies.....Looks like we will have to re think a few things
Hopefully i will be able to get a job as a part time hairdresser, which will boost our monthly earnings up a bit....I have heard that a good hairdresser earns quite a bit......not blowing my own trumpet but i am a bloody good one.......
How much do you think we could comfortably get a mortgage for on hubbies wage?
We arent leaving england cos we want massive houses and boats and big cars we want better lifestyle for our son and us but obviously we want to be able to not struggle....
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Old Apr 8th 2009, 10:20 am
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Default Re: Money.....will we have enough for lots of shoes...?

We're all different and have differing priorities for our money. Perhaps look at the equation in reverse. Could you comfortably afford to live on GBP19k in the UK, because that is what it boils down to. Living costs are relatively similar, a few upsides and downs, however the largest portion of your income would be servicing a mortgage and unfortunately the interest rates here are consistently a LOT higher.
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Old Apr 8th 2009, 12:35 pm
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Default Re: Money.....will we have enough for lots of shoes...?

Originally Posted by Bo-Jangles View Post
We're all different and have differing priorities for our money. Perhaps look at the equation in reverse. Could you comfortably afford to live on GBP19k in the UK, because that is what it boils down to. Living costs are relatively similar, a few upsides and downs, however the largest portion of your income would be servicing a mortgage and unfortunately the interest rates here are consistently a LOT higher.
Take heed..why would such a financial struggle be a better lifestyle?
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