Here's my budget spreadsheet for anyone interested

[lolalou]

@christopher30 Nice. One thing you might like to build into your tax calcs for the future is Kiwisaver Salary Sacrifice. You might change jobs from a company that does it to one that doesn't and the income side of your spreadsheet will start being weird.

Mine looks like this, and the half-assed formula I apply to cell

C2

is:

=IFS(I4="No", I2/(I3*52), I4="Yes", (I2/(I3*52))-((I2/(I3*52))*0.03))

[sup]No I don't earn that much[/sup]

 

[hey_unloving_iwillloveyou]

@christopher30 Thanks for taking the effort to modify your own spreadsheets to share with everyone!

One thing I noted was that the student loan threshold is now 22,828 for the 23-24 tax year, which would need to be updated in C17 and E17 on your front tab. Should bring it back in line for your net pay vs IRD/other PAYE Calculators.

 

[eliyahu777]

@christopher30 Nice. Thank you.

 

[christopher30]

@eliyahu777 No problem. Hopefully it is of some use.

 

[sitsatdeskwithpen]

@christopher30 House maintenance of $500 annually seems low unless you’re in a new build

 

[resjudicata]

@sitsatdeskwithpen Yea that's the first thing that stood our to me. We put aside significantly more, but that also covers anything needed for the house (so tools, gardening etc).

 

[prodigalsun]

@christopher30 Damn, what does the first person do for a job to be earning that much per fortnight?! Thats insane good money! In all seriousness though, this is pretty amazing, nice work

 

[spinny]

@prodigalsun is $120k really considered insane good money these days though?

 

[resjudicata]

@spinny yes, most people earn far, far less than that. NZ pays bugger all.

 

[bradwhiteis]

@spinny Anything above 100k deserves an “oh what do you do for work?” in my opinion

 

[jesusreigns]

@spinny That’s double the nz median wage for 2023 so yes?

 

[veroobscura]

@spinny for most people yes.

 

[prodigalsun]

@spinny Well its a hell of a lot better than what Im earning and I thought i was on good money so I guess its all relative!

 

[spinny]

@prodigalsun fair point!

 

[gabrieltheworshipper]

@spinny 120k household (2 incomes) is good right now

120k for a single is like… they’re doing really well

 

[resjudicata]

@gabrieltheworshipper

120k household (2 incomes) is good right now

No it's not, that's 2 people on/near entry level wages for just about any skilled job.

 

[gabrieltheworshipper]

@resjudicata Minimum wage for two is 90k

120k is comparatively good. Comfortable

Above that is very good, insanely good even… as per the original comment

 

[resjudicata]

@gabrieltheworshipper

Minimum wage for two is 90k

The following two people are guaranteed minimum wage:

• 18 year olds fresh out of high-school
• Zero work or life experience
• Walk into a minimum wage job after a 5 minute interview

vs mine and my partners situation:

• Life on hold for 3+ stressful, broke years getting degrees
• Significant prior work experience
• Tens of thousands of dollars in student debt
• Had to compete with ~2500 students for only ~250 entry level roles

120k is comparatively good. Comfortable

Given what it took just to get into the industry we are in, earning a measly 15k more each than the two 18 year olds on minimum wage would be a spit in the face.

 

[gabrieltheworshipper]

@resjudicata

The following two people are guaranteed minimum wage:

When’s the last time you surveyed minimum wage jobs lol

Revise your checklist

vs mine and my partners situation:

You had a normal post-college experience

An average experience… nets average pay

Given what it took just to get into the industry we are in

Industry matters. It’s the only thing that makes a difference

The study doesn’t matter, nor how large your bills are

Industry makes the difference

A lot of industries use minimum or borderline pay. Even mcds and some retailers sit above minimum wage pretty often. Unions seem to matter in that case

 

[resjudicata]

@gabrieltheworshipper

When’s the last time you surveyed minimum wage jobs lol

When I was studying a couple years ago, pretty easy to get a minimum wage (or slightly above) job.

You had a normal post-college experience

Yup, and compared to walking into a minimum wage job it was a he'll of a lot harder/time consuming. So earning 15k more than minimum wage is not comparatively good.

Industry matters. It’s the only thing that makes a difference

Bullshit. 2.5 years postgrad I'm on six figures, the people at my first job who had your mindset and didn't chase/compete for roles are still earning close to half that.