The cost of being: A young engineer who’s recently moved to Melbourne

As part of our series exploring how New Zealanders live and our relationship with money, a willing victim of the brain drain is earning enough to travel, help his family and save for his future.

Gender: Male

Age: 26

Ethnicity: Mixed Pākehā/South East Asian

Job: I moved to Melbourne nine months ago, bought my flights without a job lined up but managed to suss one before I landed. I’m an engineer on an infrastructure project making $117,000 AUD (~$125K NZD), inclusive of the 11% super contributions. This is my third job out of uni. I effectively got a 60% salary increase by moving across the ditch. The brain drain is real.

My living location is: Inner-suburban Melbourne.

Rent/mortgage per week: My partner recently bought the apartment I live in, I’ve just started paying them $2,000 a month with the aim to pay off the loan as quickly as possible.

Student loan or other debt payments per week: I have NZ$29,000 in student debt, I pay $500 a month to minimise the overseas interest rate. 

Any major upcoming costs: Lots of upcoming travel.

Typical weekly food costs

Groceries: Around $100 a week.

Eating out: Trying to cut down on eating out so maybe $50 a week.

Takeaways: $20.

Workday lunches/cafe coffees/snacks: $20. I take lunch to work but might have to buy something once a week. I make my own coffee every morning and take it to work, which equates to a $20 bag of coffee a fortnight.

Savings: AU$35,000 that I’ve managed to save in the eight months I’ve been working in Australia, somewhere around $20K in Sharesies, and $6,000 left in my NZ bank account.

I worry about money: Rarely, but the cost of living in New Zealand makes me worried for my parents.

Three words to describe my financial situation would be: Lucky, rapidly growing.

My biggest edible indulgence would be: $6 Melbourne coffees at some trendy alleyway cafe.

In a typical week my alcohol expenditure would be: I don’t really drink but might buy an $8 G&T at monthly after-work drinks.

In a typical week my transport expenditure would be: My work covers my daily public transport commute, but I pay $50 a month in fuel.

Lifestyle costs

I estimate in the past year the ballpark amount I spent on clothing (including sleepwear and underwear) was: Maybe $500? I don’t buy clothes often.

My last pair of shoes cost: A $40 pair of questionably legitimate Ultraboosts from Vietnam.

My annual grooming/beauty expenditure includes: $50 on two haircuts.

My exercise expenditure in a year is: Close to $1,000 on climbing gym memberships, not yet including the $300 I’ll need to spend on a new pair of climbing shoes since my current ones have a hole in the toe.

My last Friday night cost: $8 on a G&T.

My most regrettable purchase in the last 12 months was: The $100 flight change fee when I got my flight times wrong.

My most indulgent purchase (that I don’t regret) in the last 12 months was: I paid for my mum and two brothers’ upcoming Christmas flights to Melbourne for ~$2,500.

One area where I’m a bit of a tightwad: Books and ebooks. I pirate a lot of ebooks and have joined multiple libraries.

Five words to describe my financial personality: Higher quality is worth it.

I grew up in a house where money was: Tight. Parents pretty much earned just above minimum wage. We always had food in the fridge and wood for the fireplace though.

The last time my Eftpos card was declined was: Some time last year, when I just hadn’t transferred enough into my spending account.

In five years, in financial terms, I see myself: Prospering. I think my salary will be increasing further with some pay rises and a job change or two in the next couple of years. My loan will finally be paid off and I’ll probably have enough to buy myself a house.

I’d love to have more money for: Paying off my parents’ mortgage.

My biggest financial low was: It would have been in early 2019 when I couldn’t get a job after university and was burning through my savings after travelling.

I give money away to: Buying flights for my family and shouting dinner for my friends who visit.

Want to contribute? Send us an email briefly describing your situation at costofbeing@thespinoff.co.nz

Read the previous Cost of Beings here.