As part of our series exploring how New Zealanders live and our relationship with money, a 20-year-old in his third year of study in Dunedin explains how he gets by.

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Gender: Male

Age: 20

Ethnicity: NZ European

Role: Third year university student

Salary/income/assets: $190 from student allowance per week (including accommodation benefit which is untaxed). $250 per week from casual work for the university. $160 fortnightly from student loan.

My living location is: Urban

Rent/mortgage per week: $925 rent shared between five. We all pay $228 each week to cover rent, power, wifi and cook a shared dinner once a week each.

Student loan or other debt payments per week: Currently pay student loan out of my work and student loan income.

Typical weekly food costs

Groceries: $125 covers shared dinners (five meals for five people) plus around $20 for flat purchases like toilet paper, milk etc. And then around $40 a week on food for lunches and breakfast.

Eating out: A BYO every once in a while. So say $30.

Takeaways: $20 a week maybe? Tend to go to the supermarket instead.

Workday lunches: Once a week my mate and I will buy lunch on campus, sometimes more frequently. Normally a $5 scone or $8 fries.

Cafe coffees/snacks: Don’t generally buy drinks when out, but bought a chai latte and then a cup of tea when studying with mates for exams at a cafe in town. So that would’ve been around $10.

Other food costs: n/a

Savings: Have around $14k in cash savings. But I also have $8k saved across Sharesies, Kernel Wealth and Milford Investments that I’ve been contributing to since high school. Initially I had it set up so that I couldn’t see my savings accounts as otherwise I spend that money. This is also why I use services like Sharesies cause I know that once there, I can’t use that money and it will hopefully have better returns than what I would otherwise spend it on. I also have money set aside from an unexpected inheritance from one of my parents passing away. This is put aside for a university exchange, as well as to use as a house deposit. 

I worry about money: Always.

Three words to describe my financial situation: Secure, stressful, sad. 

My biggest edible indulgence would be: Cookie Time triple choc cookie bag.

In a typical week my alcohol expenditure would be: $10, don’t drink that often so will buy a box once a month maybe. (Not a typical Dunedin student!)

In a typical week my transport expenditure would be: Walk everywhere as have left my car in the North Island while at university.

I estimate in the past year the ballpark amount I spent on my personal clothing (including sleepwear and underwear) was: $2,000.

My most expensive clothing in the past year was: A new pair of Airforces on sale while I was at home for a weekend. Cost $150 down from $220.

My last pair of shoes cost: Same shoes as above, but are creamy white, and are Airforces.

My grooming/beauty expenditure in a year is about: $500 – get a haircut around four times a year from the barbers which is $30-$40, so I limit how often I go. Plus shampoo, face wash and I have this new clay moulding stuff for my hair which is way nicer than the hair gel and hairspray I used to use.

My exercise expenditure in a year is about: Gym membership is included with university fees, but I did buy new running shoes at the start of the year as my current ones were causing pain as I have taken up running. Do pay hockey fees, which are around $320.

My last Friday night cost: Finished the box I had and went to a mate’s flat for a mid-exam-season birthday party.

Most regrettable purchase in the last 12 months was: Bought a new phone when I really should’ve just bought a refurbished one like I did for my last one.

Most indulgent purchase (that I don’t regret) in the last 12 months was: Flights home for my nana’s 80th birthday.

One area where I’m a bit of a tightwad is: Travelling – I made sure to not bring my car to Dunedin as I knew it was an extra cost I couldn’t afford, so just walk everywhere I need to.

Five words to describe my financial personality would be: Spender, conscious, careful.

I grew up in a house where money was: We were comfortable in that I never really thought of what money was. However a few bad financial decisions meant that money became really tight, with my parents splitting and the house getting sold. Since then money has always been a concern, with my sisters and I all working throughout high school so that my mum didn’t need to stress about purchasing us stuff that we could buy ourselves.

The last time my Eftpos card was declined was: A couple of months ago, but it’s because the chip broke and I hadn’t gotten around to paying for a new card yet and didn’t want to pay the surcharge for Apple Pay. I normally check my account before paying as I transfer into it, as I don’t leave money in the account linked to my card.

In five years, in financial terms, I see myself: Hopefully owning a house, but I’m also not sure where I will be in terms of the current job market and if I will need to get a masters before looking for a job.

I would love to have more money for: Going home to see my family more. It’s always hard being in the family group chats and hearing about all the things they are getting up to and planning to do and not being there to join in.

Describe your financial low: Before I started university I knew that what university I went to depended on what scholarships I got, if any. Which is how I decided on Otago, as although I got a better offer from Auckland, the cost of renting there past first year far exceeds the costs in Dunedin. 

I give money away to: Currently, I tend to not donate money with how stretched my current budget is and the money I would normally give away. I have been putting aside to go towards my exchange semester.