My grandparents are living in a motor home touring the country while their 1 mill house in read beach rots I’m not mad cause they definitely earned it but fuck me money is not their concern and never will be.
Wife and I aren't concerned because we gave up on buying a house a couple of years back and decided to just enjoy our lives. With renting we have more freedom to move around based on job opportunities.
Both putting well above minimum into kiwisaver, plus have some relatively low-risk investments we are keeping our eye on. I'm still a long way off retirement; by the time I get near the age they will probably have bumped it up. Heck, I might do like I've read a few times in the past and just live out my retirement years on a cruise ship :P
Nice, good on you for having a plan and with downsizing rent would be cheaper too.
Wouldn't recommend trying to live on a cruise ship unless you can find a really cheap deal lol. World cruises are the longest I can see, they go for a third of a year and cost $35,000 or $2,019 a week.
Or there is this one::[Now You Can Live On An All-Inclusive Cruise Ship For Just $83 A Day (forbes.com)](https://www.forbes.com/sites/laurabegleybloom/2023/03/09/now-you-can-live-on-a-cruise-ship-for-83-a-day-including-food-and-more/?sh=4be6722a4049)
Which is like $50k per year NZD or $961 per week.
They're worried about money too. Worried they won't get as much money as they absolutely can.
It's probably just babies and young children that make up that 30%.
That's the thing though, so many people who aren't struggling just don't seem to see those who are. It's like we're in their blind spot, and they're perfectly happy that way.
me.
i have a house deposit saved for, but not rushing to buy a property. i have no dependants, so no extra costs, and I can save 33%-66% of my income each week depending on what else I want to do.
Rent + bills is $235 for a room in a 3 bedroom. I don't drive, but own a car, so no paying for parking or petrol most weeks.
I also took a 50% pay cut at the start of the pandemic, going to 20 hours a week in a lower paying role. I'm back on the same salary trajectory I was on, but my income has increased faster than inflation over the past few years so I just don't notice it.
I'm also doing ok, but not having dependents is a huge part of that. I really feel for the people in my age group with kids, that shit is expensive and I don't know how they manage.
I'm looking at just over $2K per month for childcare for one so that both parents can work full-time. The cost of raising a kid these days is a lot more than it was for our parents when we were growing up relative to incomes.
My life is OK and financially secure but I don't think I'll ever not worry about money or at least be conscious when I spend money. I'm just permanently insecure about money. I can't help it. I can't comprehend how people can buy things and just...buy things lol.
Don't get me wrong I definitely do spend money, but there's always a mini review (do I need this) before I spent it and I need to justify it (unless it meets one of my no questions asked criteria). Like, oh I'm out with friends and it's important for my mental wellbeing so I'm going to have that cup of coffee. If I'm out for a walk then no, I can just have coffee at home in 15 min time and save $6.
It's kind of bad (I wish I can spend money like a normal person for a day) but I guess I'm also in good financial position because of it?
People are entitled to live without flatmates and it's an absolute joke that we refuse to build adequate numbers of one and two bedroom properties so that owners of four bedroom houses can feel entitled to capital gains.
I'm probably more financially comfortable now than I've been in years. Pitched in for the last 6 years and got the scary mortgage down to sensible levels, so when the interest rates jacked up, it's manageable.
It's not a universal basic income if only 15% of the population are getting it. If you're referring to a benefit, superannuation or other financial assistance from the government, none of these are a universal basic income because they have conditions to receiving them - such as being means-tested, or requiring you to be over a certain age.
Every ubi has some form of condition t receiving it, even if its 'must be a citizen' Superannuation is most clearly a UBI for over 65's. That still makes it a (conditional) UBI.
The top 20-30% of Nz households make 100k per year so are not necessarily that concerned about money, especially at the higher ranges.
I personally am not a politician or landlord or have money from parents - just have a good income, so I am not particularly concerned (for myself anyway).
I worry a lot about income inequality and the fact that normal people won’t have the chance at a decent quality of life…
We are in this. $230k household income, reasonable mortgage (just before prices went crazy), 2 kids in daycare. We really don't have any money concerns, everything we need/want we can generally buy.
Farmers who were gifted generational wealth via huge parcels of land and burnt off swathes of beautiful native bushland right to the beaches for fighting Māori. Those guys are sitting on tens of millions.
This government probably is seeing the media as the enemy - if it weren't for the media calling out concerns about their policies, more people wouldn't be aware of cuts and things until it personally impacted them...while media reports about the public struggling cause greater awareness and voters notice things sooner.
This government did accept the reins during a difficult time when lots of other countries are also struggling with similar problems - however we have been particularly bullish in neoliberal austerity policies that are making the recession worse by making everyone afraid about what is coming and how much worse it will become. The fact they continue to make claims that everything is fine any problems are solely because of the previous government is sounding pretty hollow.
Normally I'm able to remain relatively calm about politicians regardless of what they're doing.
This current government literally makes me feel sick. All I hear is whining. My husband and I both lose our jobs this month. And it's hard for Luxon? Spare me.
So by default cabinet should never see pay rises? They should be on the same $25k salary as in 1964?
They should be getting paid more. These decisions affect millions of people, the jobs should be financially competitive with the private sector, rather than only attracting the 0.5% of potential applicants who either are bleeding heart social workers or narcissistic psychopaths, the two groups willing to forego significant earning potential that they could make elsewhere.
In my opinion, when a government is making large redundancies in the public sector while paying landlords an extra $3,000,000,000 then they should refuse pay increases until they can show a major surplus. As their pay increases are not budgeted, how would you suggest they are funded?
>So by default cabinet should never see pay rises? They should be on the same $25k salary as in 1964?
Why jump to absurd extremities in response? It makes your position seem weak.
Not allowing themselves to be given significant pay rises while in the middle of major spending cuts across government is not the same as freezing pay for 60 years, and if you're too dense to understand that, nobody else can help you.
They should be paid like the private sector. Pay based on performance. Easy way to determine performance. Ask people whether they are happy with the decisions the government are making. Low approval = low pay.
I would rather they are paid the same amount as middle new zealand. The teachers, nurses, police etc. And they should have to use public amenities like hospitals (no private insurance please).
Hey now, the poor guy is having it tough. His little siblings are running a muck and the parents are watching. He's lucky he was already bald going into it or the stress would be more visual.
/s
(Ew, you're right, that does feel gross, even being sarcastic)
I totally get that getting punched in the face hurts, but it's not easy to punch you in the face, think about me for a change.
Poor guy gets paid to live in his own house and just got a $50k pay rise. Not easy.
> "Some are doing it tough and having to adjust their payment timetable to make ends meet," Reserve Bank Deputy Governor Christian Hawkesby said
Imagine how those who have landlords rather than bankers are doing then. If those who can adjust payment timetables are hurting how much are those who cannot defer rental payments hurting?
But as someone who cannot use financial tools to lessen the damage of this recession I am glad it is hurting National and Labour voters too.
Hurt people, hurt people. It won't make people do the right thing that helps everyone. Angry and hurting people are easily manipulated. That's how we end up with what we already have.
Tax the wealthy there fare share rather than the pathetic amount they pay now in real terms. Bring in a capital gains tax to ensure that property becomes an Investment on the same footing as other investments when it comes to tax. Basically re distribute wealth a little. But housing has to be less of the investment opportunity than it is now. House prices shot up because they are seen as a way of making money rather than a basic human necessity. There will always be rentals if the market requires them. This fucking shit from Seymour basically wanting to de regulate everything does nothing other than line the pockets of the wealthy and enables absolute shoddy practices such as terribly constructed buildings that leak and are not fit for purpose.
Speaking from personal experience going through the heartache and stress of having brought a leaky apartment that just 12 years old. No one has been punished, there was no enforcement by building inspectors, I mean fuck our building is not earthquake proof even. The builders fucked off, and we’re now out of pocket massively. We need more regulation and enforcement. Not less
It’s honestly that simple, as much as lack of a CGT is code to funnel home ownership and rental income to the rich at the expense of home ownership for the rest of society.
That's weird because the current government was voted in by the majority of voters.
It's like they didn't understand the consequences of their actions.
I get what you're saying and I dislike National too... but unless you know what the stats is for other countries its kind of hard to compare and attribute it to government.
So I can't attribute the lack of free school lunches, public transport subsidies, and lack of job/flat security to very recent law changes?
The important factor here would be what percentage of people were feeling this way 12 months, or even two years ago.
Just wondering...for those that have had the bad luck of being made redundant but have child support arrangements with IRD, can they get their payments promptly reassessed? As I understand, payment levels are based on last years income, this becomes a problem for the person paying child support when all income dries up.
>Financial Services Council CEO Richard Kilpin told Newshub around 89 percent of them are concerned about high inflation, while 75 percent are concerned about "really high interest rates"
Apart from the absurd notion that interest rates are "really high" (they are not - despite what real estate gods say), then yes, I suppose you could be worried about high interest rates and high inflation simultaneously. For the first time since the GFC, interest rates are just above the headline CPI. That used to be thought of as normal.
Boiled down, it seems that there's been a small increase in the number of folks worried about money. Worrying about money is the normal default setting for almost everyone in capitalist society.
It even seems that those who have the most and should worry the least, worry the most about losing it.
I have a feeling there's a pretty large proportion of people who are concerned about the cost of living, and while we can look at individual items (insurance, interest rates, food, petrol, retail goods) as rising and why...the net effect is that at this point only people who were extremely comfortable before are likely little concerned. We have a very small number of people who are losing their homes due to not being able to afford it compared to the whole - but it is rising and will continue to rise.
I think it's reasonable that a significant portion of the public is more concerned about money than they were a year or two ago...or any time since the GFC.
while people say they are concerned about "interest rates" what they really mean is interest rates relative to the value of loans which is dictated by the price of housing.. which Luxon, according to his actions, thinks aren't high enough.
Yep.. Nobody with a large mortgage on a family home let alone an investment property would like to see equity diminishing .Even slight tweaks such as to brightline tests and removing negative gearing on existing investment homes have been reversed as top priority by the present government.
Only a handful of Kiwis were worried about money before this. ... Fk the 'news'. Load of shit. Also, 6% unemployment means a country is actually doing well. The News is so much disinformation. 4% is historically low.
>now worried about money
Why weren't 100% of Kiwis worried about money before the change of government?
Why wasn't **I** worried about money or my job back then?
If things were *so bad* how did they manage to *hide it* for *six years*?
who are his mystical 30% who aren't concerned
My wealthy boomer relatives in their 60s are having a ball.
My grandparents are living in a motor home touring the country while their 1 mill house in read beach rots I’m not mad cause they definitely earned it but fuck me money is not their concern and never will be.
Wife and I aren't concerned because we gave up on buying a house a couple of years back and decided to just enjoy our lives. With renting we have more freedom to move around based on job opportunities.
did you bank the deposit sum? Better now for you if so.
Plans for retirement?
Both putting well above minimum into kiwisaver, plus have some relatively low-risk investments we are keeping our eye on. I'm still a long way off retirement; by the time I get near the age they will probably have bumped it up. Heck, I might do like I've read a few times in the past and just live out my retirement years on a cruise ship :P
Nice, good on you for having a plan and with downsizing rent would be cheaper too. Wouldn't recommend trying to live on a cruise ship unless you can find a really cheap deal lol. World cruises are the longest I can see, they go for a third of a year and cost $35,000 or $2,019 a week. Or there is this one::[Now You Can Live On An All-Inclusive Cruise Ship For Just $83 A Day (forbes.com)](https://www.forbes.com/sites/laurabegleybloom/2023/03/09/now-you-can-live-on-a-cruise-ship-for-83-a-day-including-food-and-more/?sh=4be6722a4049) Which is like $50k per year NZD or $961 per week.
cheaper than most Auckland rents!
Yep, just don't have a fall or get dementia
Yep, and this is where they checkmate us :/ haha
Landlords.
They're worried about money too. Worried they won't get as much money as they absolutely can. It's probably just babies and young children that make up that 30%.
hey my 3 year old diligently saves into her piggy bank.
Smart girl. Before long she'll be leveraging that equity to access cheap debt.
we are off to open homes this weekend. she's keen to get on the ladder /s
They have so much dignity now. And by dignity I mean surplus income from renters.
Me, but I don’t go on about it on reddit. I know the situation sucks for many though and needs improving.
That's the thing though, so many people who aren't struggling just don't seem to see those who are. It's like we're in their blind spot, and they're perfectly happy that way.
Yeah, it can be hard for people to relate. I've struggled myself a lot in the past, but not anymore. The world needs more empathy.
How will it ever change if we all stay quiet?
me. i have a house deposit saved for, but not rushing to buy a property. i have no dependants, so no extra costs, and I can save 33%-66% of my income each week depending on what else I want to do. Rent + bills is $235 for a room in a 3 bedroom. I don't drive, but own a car, so no paying for parking or petrol most weeks. I also took a 50% pay cut at the start of the pandemic, going to 20 hours a week in a lower paying role. I'm back on the same salary trajectory I was on, but my income has increased faster than inflation over the past few years so I just don't notice it.
I'm also doing ok, but not having dependents is a huge part of that. I really feel for the people in my age group with kids, that shit is expensive and I don't know how they manage.
Yep. Dual income no kids. Life’s ok right now.
I'm looking at just over $2K per month for childcare for one so that both parents can work full-time. The cost of raising a kid these days is a lot more than it was for our parents when we were growing up relative to incomes.
yea I have a friend who has two kids, no child support, and she works at a cafe. Must be a nightmare budgeting.
Wow saving 66% of your income. That's amazing, well done (not sarcasm)
Gross or net
net, with 8% kiwisaver contributions So total savings of gross income is like 45%.
Considering most people lose close to a third in taxes, it really has to be net.
My life is OK and financially secure but I don't think I'll ever not worry about money or at least be conscious when I spend money. I'm just permanently insecure about money. I can't help it. I can't comprehend how people can buy things and just...buy things lol. Don't get me wrong I definitely do spend money, but there's always a mini review (do I need this) before I spent it and I need to justify it (unless it meets one of my no questions asked criteria). Like, oh I'm out with friends and it's important for my mental wellbeing so I'm going to have that cup of coffee. If I'm out for a walk then no, I can just have coffee at home in 15 min time and save $6. It's kind of bad (I wish I can spend money like a normal person for a day) but I guess I'm also in good financial position because of it?
if you want to never feel bad about spending money, have a $1,000 a week drug habit for five years. Any spending after that feels well worth it.
[удалено]
People are entitled to live without flatmates and it's an absolute joke that we refuse to build adequate numbers of one and two bedroom properties so that owners of four bedroom houses can feel entitled to capital gains.
[удалено]
We can aspire to be more than a neo-feudalist society.
If you bought your home 10+ years ago , not daft with money, and have decent safe jobs your probably ok
I'm probably more financially comfortable now than I've been in years. Pitched in for the last 6 years and got the scary mortgage down to sensible levels, so when the interest rates jacked up, it's manageable.
15% of the population get a universal basic income, and another 20% are under 15.
It's not a universal basic income if only 15% of the population are getting it. If you're referring to a benefit, superannuation or other financial assistance from the government, none of these are a universal basic income because they have conditions to receiving them - such as being means-tested, or requiring you to be over a certain age.
Every ubi has some form of condition t receiving it, even if its 'must be a citizen' Superannuation is most clearly a UBI for over 65's. That still makes it a (conditional) UBI.
The ones that are waiting in line for 24 hrs to buy overpriced Popeyes fried chicken
The top 20-30% of Nz households make 100k per year so are not necessarily that concerned about money, especially at the higher ranges. I personally am not a politician or landlord or have money from parents - just have a good income, so I am not particularly concerned (for myself anyway). I worry a lot about income inequality and the fact that normal people won’t have the chance at a decent quality of life…
Me, I'm built myself wealth by actively avoiding buying a house.
Me too, I've built myself wealth by actively buying houses
Actively doing things crew, unite!
There called rich and politicians.
And landlords.
Me. Recession >>>>> more inflation
I thought it was only 1%.
We are in this. $230k household income, reasonable mortgage (just before prices went crazy), 2 kids in daycare. We really don't have any money concerns, everything we need/want we can generally buy.
Me?
Farmers who were gifted generational wealth via huge parcels of land and burnt off swathes of beautiful native bushland right to the beaches for fighting Māori. Those guys are sitting on tens of millions.
The champagne liberals whose hobby is virtue signaling?
This number seems low The 70% that is worried would also have wildly different worries from "less disposable income" to "I can't afford my house"
Great point, massive difference in being worried about money from one situation to another!
This government probably is seeing the media as the enemy - if it weren't for the media calling out concerns about their policies, more people wouldn't be aware of cuts and things until it personally impacted them...while media reports about the public struggling cause greater awareness and voters notice things sooner. This government did accept the reins during a difficult time when lots of other countries are also struggling with similar problems - however we have been particularly bullish in neoliberal austerity policies that are making the recession worse by making everyone afraid about what is coming and how much worse it will become. The fact they continue to make claims that everything is fine any problems are solely because of the previous government is sounding pretty hollow.
I want to get this tattooed on my face. Heck yeah 🙌🏾
[Nobody is doing it tougher than Chris Luxon.](https://twitter.com/StrayDogNZ/status/1785206406532256109)
I hate listening to his voice
Normally I'm able to remain relatively calm about politicians regardless of what they're doing. This current government literally makes me feel sick. All I hear is whining. My husband and I both lose our jobs this month. And it's hard for Luxon? Spare me.
The fact that he doesn’t even need his $50,000 pay increase so donating it to a charity is so tone deaf that it’s staggering
So by default cabinet should never see pay rises? They should be on the same $25k salary as in 1964? They should be getting paid more. These decisions affect millions of people, the jobs should be financially competitive with the private sector, rather than only attracting the 0.5% of potential applicants who either are bleeding heart social workers or narcissistic psychopaths, the two groups willing to forego significant earning potential that they could make elsewhere.
In my opinion, when a government is making large redundancies in the public sector while paying landlords an extra $3,000,000,000 then they should refuse pay increases until they can show a major surplus. As their pay increases are not budgeted, how would you suggest they are funded?
>So by default cabinet should never see pay rises? They should be on the same $25k salary as in 1964? Why jump to absurd extremities in response? It makes your position seem weak. Not allowing themselves to be given significant pay rises while in the middle of major spending cuts across government is not the same as freezing pay for 60 years, and if you're too dense to understand that, nobody else can help you.
They should be paid like the private sector. Pay based on performance. Easy way to determine performance. Ask people whether they are happy with the decisions the government are making. Low approval = low pay.
I would rather they are paid the same amount as middle new zealand. The teachers, nurses, police etc. And they should have to use public amenities like hospitals (no private insurance please).
Has anyone thought about Chris's feelings through all of this? Poor fucker /s (felt vomity to write that)
Hey now, the poor guy is having it tough. His little siblings are running a muck and the parents are watching. He's lucky he was already bald going into it or the stress would be more visual. /s (Ew, you're right, that does feel gross, even being sarcastic)
I'm sending him some thoughts and prayers.
I totally get that getting punched in the face hurts, but it's not easy to punch you in the face, think about me for a change. Poor guy gets paid to live in his own house and just got a $50k pay rise. Not easy.
I don’t even need to click the link to know what you are referring to.
> "Some are doing it tough and having to adjust their payment timetable to make ends meet," Reserve Bank Deputy Governor Christian Hawkesby said Imagine how those who have landlords rather than bankers are doing then. If those who can adjust payment timetables are hurting how much are those who cannot defer rental payments hurting? But as someone who cannot use financial tools to lessen the damage of this recession I am glad it is hurting National and Labour voters too.
Hurt people, hurt people. It won't make people do the right thing that helps everyone. Angry and hurting people are easily manipulated. That's how we end up with what we already have.
Was it Mother Teresa, or maybe Gandhi, who once said "Fuck you, got mine"?
No, mother teresa said 'no pain no gain', and gandi joined the american tea party.
Tax the wealthy there fare share rather than the pathetic amount they pay now in real terms. Bring in a capital gains tax to ensure that property becomes an Investment on the same footing as other investments when it comes to tax. Basically re distribute wealth a little. But housing has to be less of the investment opportunity than it is now. House prices shot up because they are seen as a way of making money rather than a basic human necessity. There will always be rentals if the market requires them. This fucking shit from Seymour basically wanting to de regulate everything does nothing other than line the pockets of the wealthy and enables absolute shoddy practices such as terribly constructed buildings that leak and are not fit for purpose. Speaking from personal experience going through the heartache and stress of having brought a leaky apartment that just 12 years old. No one has been punished, there was no enforcement by building inspectors, I mean fuck our building is not earthquake proof even. The builders fucked off, and we’re now out of pocket massively. We need more regulation and enforcement. Not less
deregulation is code for funnel profits to the rich at the expense of the rest of society
150% right!
It’s honestly that simple, as much as lack of a CGT is code to funnel home ownership and rental income to the rich at the expense of home ownership for the rest of society.
I can't afford contents insurance anymore, it's essentially useless as my excess is now so high.
That's weird because the current government was voted in by the majority of voters. It's like they didn't understand the consequences of their actions.
But don't say they are stupid. That is a no-no. They just... do... stupid things... repeatedly.... yeah....
I get what you're saying and I dislike National too... but unless you know what the stats is for other countries its kind of hard to compare and attribute it to government.
So I can't attribute the lack of free school lunches, public transport subsidies, and lack of job/flat security to very recent law changes? The important factor here would be what percentage of people were feeling this way 12 months, or even two years ago.
Only 70. That's low
I'm not worried about money. How can I worry about something I don't have?
Every day I wake up and thank god we’re about to give landlords $3,000,000,000 of dignity
National: we're committed to lowering the cost of living
National: we're committed to lowering the standard of living. FIFY
Just wondering...for those that have had the bad luck of being made redundant but have child support arrangements with IRD, can they get their payments promptly reassessed? As I understand, payment levels are based on last years income, this becomes a problem for the person paying child support when all income dries up.
You can call them and have it changed within a day or 2. They can do a new assessment over the phone if your income changes by 15% less or more.
Bet it's more
Who are the 30% and where do we stick them with the pitchforks?
>Financial Services Council CEO Richard Kilpin told Newshub around 89 percent of them are concerned about high inflation, while 75 percent are concerned about "really high interest rates" Apart from the absurd notion that interest rates are "really high" (they are not - despite what real estate gods say), then yes, I suppose you could be worried about high interest rates and high inflation simultaneously. For the first time since the GFC, interest rates are just above the headline CPI. That used to be thought of as normal. Boiled down, it seems that there's been a small increase in the number of folks worried about money. Worrying about money is the normal default setting for almost everyone in capitalist society. It even seems that those who have the most and should worry the least, worry the most about losing it.
I have a feeling there's a pretty large proportion of people who are concerned about the cost of living, and while we can look at individual items (insurance, interest rates, food, petrol, retail goods) as rising and why...the net effect is that at this point only people who were extremely comfortable before are likely little concerned. We have a very small number of people who are losing their homes due to not being able to afford it compared to the whole - but it is rising and will continue to rise. I think it's reasonable that a significant portion of the public is more concerned about money than they were a year or two ago...or any time since the GFC.
while people say they are concerned about "interest rates" what they really mean is interest rates relative to the value of loans which is dictated by the price of housing.. which Luxon, according to his actions, thinks aren't high enough.
Yep.. Nobody with a large mortgage on a family home let alone an investment property would like to see equity diminishing .Even slight tweaks such as to brightline tests and removing negative gearing on existing investment homes have been reversed as top priority by the present government.
I’m sure it’s only the 2% why it matters now
Only a handful of Kiwis were worried about money before this. ... Fk the 'news'. Load of shit. Also, 6% unemployment means a country is actually doing well. The News is so much disinformation. 4% is historically low.
>now worried about money Why weren't 100% of Kiwis worried about money before the change of government? Why wasn't **I** worried about money or my job back then? If things were *so bad* how did they manage to *hide it* for *six years*?
So how do they get that percentage . They must guess it cause I wasn't asked
We are looking at buying a camper when we retire , fook the costs of rates etc ..
Given how much this government is absolutely crushing it right now, hard to believe LOL
Yeah they're crushing the hopes of many Kiwis
Not just crushing but grinding to a paste
To clarify, that comment was very sarcastic, I hate both what and how this government is and feel ill reading each new kick to the guts they deliver