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We've read your comments and we made a follow up video that addresses the concerns: https://youtube.com/shorts/wSaEKbv19p0?feature=share
It's not enough. & It will 'be hacked' soon. Govt won't help, people will be 'scammed'!
Lego is the best investment, better than gold, better than whiskey or stocks.
Um. Nice 1980’s motif here. For many (most?) of us, rent/mortgage ALONE is 50% of our income. That doesn’t cover utilities.
good approach though be much better if you show the breakdown – literally nobody can live off 442.50 per month without major sacrifice.
better to be straight up and explain that there is literally nothing left on this income, zero chance to invest, you will barely be able to survive in NZ on that. its just not realistic.
the only way to invest is to either increase income to min 100k+ (even then PAYE FUEL ACC GST RUC RATES etc tax is going to eat most of that) or live like a hermit.
What if your rent is 60% of your income on it’s own?
Not practical. Good for theory/YT videos.
also watching you buy musashi bar and drink shows us that you dont earn $70k a year, aswell as the trip overseas
GOLD GOLD GOLD GOLD GOLD
Bold of you to assume the average new zealander isnt paying 70% of their income towards rent.
KiwiSaver is a scam
You are so far fetched from reality it’s not even funny, this is pathetic
Simple investment advice: live like a minimalist for a decade. Live with your parents, only go on an overseas trip once in every five years, save a lot and build an investment portfolio. Work -> Home -> Work, repeat this for a decade. You can just play a video game after work for your hobby. This will save a lot of money.
Bros got more cake than most women lmao 😂😂😂
70K is so damn low.
If you live in Queenstown 70% on rent and bills ,15% on food, 12% on fuel and 3% to enjoy your life with 😆
Do average household income, that would be more relavant to most nzers
So this is assuming you live in a single bedroom flat, ride a bicycle for an hour to work and only eat instant noodles?
As soon as someone starts with "50-60% to expenses" brother we are in a cost of living crisis. Im on a lil more than 70k but after rent, insurance and travel card or gas im already over 60%… but sure 400 a pay to investment each pay. Delusional.
Who clicked this video thinking they were gonna get investment advice and got scammed with a "watch our podcast"
lol at the actual "bare foot" in the video
If 60% is $2,655, then that's about $600 a week. If you can't comfortably live off that, then maybe the problem is on you and your spending habits, and not the cost of living (this is coming from someone who lives in the CBD btw, so rent should be cheaper if you live outside of town).
If it's minimum wage, sure, that's a different story. Also I get if you have kids and stuff, but that's something you shouldn't have until you can afford to.
Either way, if you need more, then set aside 70% or even 80% towards daily expenses, and maybe stop having coffees everyday or going on holidays every year. $800 a week is more than enough, and you'll still have over $200 every week for short term and long term wants, or even to invest. As someone who's on minimum wage, that already sounds like a dream!
In reality, 80% goes to basic needs and 20% goes to Afterpay payments and takeaways 🤣
didnt even list how you'd invest just that you would
yeah.. you can do that if your single and live with your parents.
Have you checked those numbers with real people who live on a budget? Having that much left for "wants" and saving is absolutely not realistic unless you share a house, eat noodles and frozen veges, have the power disconnected, don't have a phone and no insurance at all.
60% is $663pw… Are you still living at your mum's?
How are you ment to pay for Mortgage, rates, insurance, food, power and petrol with that? Everything I would consider essential.
All of the above is 90% of my take home pay and I'm on more then 70k.
Average wage is complete bullshit, it's massively inflated because of the people at the top who make far more than that.
This is a bullshit post and you know it
That 60% doesn't even cover rent and essential bills, let alone food.
60% on expenses. Can you break that down for everyone?
An itemized spread sheet of these expenses would be great to see!
$664 per week is 60% of the monthly income you provided.
Again, would love to see you break this down into an itemized list.
how the hell do you get 4452 with only 70k?
Your dreaming.
you've omitted a lot of expenses, on that income you'd be looking at a second income scenario to even look at tucking savings aside or investing
Buy a ticket to aus
So who is this for?
What magical world you live in where your rent/mortgage and food, power, insurance, rates, FUEL are only 60% of your wage at 70k a year?
Dreaming.
Thanks for the very level headed concern and advice,solid whether a kiwi or not❤.
I'm just gonna be real bro, most people at that income aren't going to have a cost of living within that 60%
absoloute donut
You eating any food or paying bills?