New Zealand is the ideal place for those who aspire to live in a developed country, while still having a connection to nature. It is a haven for foreigners, particularly those who speak English as their first language. The country boasts of clean air and water, which is a major luxury for its inhabitants.
New Zealand is also a safe place to live, and foreigners don’t need to worry about being robbed or assaulted, which is especially important for those with children.
The combination of its unique culture and beautiful landscapes is what makes New Zealand a must-visit destination. However, it is the quality of life and welcoming nature of the locals that make people want to stay. New Zealand has many things to offer, and exceptional life is just one of them. For those who are unfamiliar with the country, we have prepared a guide on the cost of living in New Zealand to help get you started.
The cost of living in New Zealand as a foreigner
Cost of living in New Zealand compared to the UK, EU, US, and Australia
The recognized currency in New Zealand is the New Zealand dollar, which is commonly represented by the symbol ($). It is often mistaken for the Australian dollar, but for the purpose of this article, we will refer to it as NZD.
Adjusting to thinking and making calculations in NZD may be difficult initially. To accurately determine the worth of your money in NZD, a currency converter can be a helpful tool.
The currency converter tool offered by DNBC Financial Group can be a useful option for those who need to change currencies quickly. It displays the exchange rate indicating how much foreign currencies are worth in comparison to either the US dollar or the euro. The Currency Layer API also provides real-time updates on various exchange rates, although there may be discrepancies based on the currency being exchanged.
Additionally, DNBC Financial Group provides a constantly updated list of global currency symbols used to denote monetary value, such as “$” for the dollar, “£” for the pound, and “€” for the euro. User feedback is relied upon to maintain the accuracy and completeness of this list. Additionally, DNBC Financial Group provides an extensive list of ISO 4217 Currency Codes, consisting of three-letter codes that are universally recognized and assigned to every currency in existence.
What is the average cost of living in New Zealand?
One of the biggest expenses when living in New Zealand is housing. The cost of housing can vary depending on where you live in the country. In general, housing in New Zealand is more expensive than in many other countries. According to Numbeo, the average monthly rent for a one-bedroom apartment in the city center is NZD 1,582.60 (USD 1,076.41), while the average monthly rent for a three-bedroom apartment in the city center is NZD 3,158.20 (USD 2,150.02). If you are looking to save money on housing costs, you may want to consider living in a smaller town or city outside of the main centers.
Food and Groceries
Another expense that you will need to consider when living in New Zealand is food and groceries. The cost of food in New Zealand is generally higher than in many other countries. According to Numbeo, the average cost of a meal at an inexpensive restaurant is NZD 20.00 (USD 13.60), while the average cost of a meal at a mid-range restaurant for two people is NZD 90.00 (USD 61.20). If you are looking to save money on food costs, you may want to consider cooking at home more often and purchasing groceries from budget-friendly stores like Pak’nSave or Countdown.
Transportation costs can also be a significant expense when living in New Zealand. If you plan on owning a car, you will need to budget for car payments, insurance, and fuel costs. According to Numbeo, the average cost of a liter of gasoline in New Zealand is NZD 2.34 (USD 1.59). Public transportation is also available in many cities and towns throughout the country and can be a more affordable option for getting around. In Auckland, for example, a one-way ticket on public transportation costs NZD 4.50 (USD 3.06).
Healthcare is another expense that you will need to consider when living in New Zealand. The country has a public healthcare system that is available to all residents, but you may still need to budget for healthcare costs like prescription medications or dental care. If you are not eligible for the public healthcare system, you may need to purchase private health insurance, which can be expensive.
Other Living Expenses
In addition to the expenses listed above, there are a number of other living expenses that you will need to consider when living in New Zealand. These can include things like utilities, internet and phone bills, and entertainment expenses. According to Numbeo, the average cost of utilities for an 85-square-meter apartment in Auckland is NZD 230.88 (USD 157.08) per month, while the average cost of internet for one month is NZD 85.00 (USD 57.80).
Tips for Saving Money in New Zealand
Living in New Zealand can be a wonderful experience, but it can also be expensive. Here are some tips for saving money while living in New Zealand:
- Cook at home more often and eat out less frequently: Eating out can be expensive, so consider cooking meals at home more often. You can save money by purchasing groceries from budget-friendly stores like Pak’nSave or Countdown.
- Use public transportation instead of owning a car: Owning a car in New Zealand can be expensive, especially when you factor in the cost of gas, insurance, and maintenance. Consider using public transportation instead, which can be more affordable and environmentally friendly.
- Shop for deals: Look for deals on groceries, clothing, and other items. Many stores offer weekly specials or discounts, so be sure to check their websites or flyers for deals.
- Buy used items: Consider buying used items instead of new ones. You can often find great deals on second-hand clothing, furniture, and electronics.
- Take advantage of free activities: New Zealand is a beautiful country with many free outdoor activities to enjoy, such as hiking, cycling, and visiting beaches. Take advantage of these free activities to save money and explore the country.
- Cut back on unnecessary expenses: Take a look at your monthly expenses and see if there are any areas where you can cut back. Canceling subscriptions or memberships you don’t use, for example, can help you save money.
By following these tips, you can save money while still enjoying all that New Zealand has to offer. Remember to always be mindful of your spending, and to make a budget and stick to it. With a little effort, you can live comfortably and affordably in New Zealand.
About DNBC Financial Group
DNBC Financial Group strives to simplify cross-border financial transactions. By reducing the expense of international shipping and purchases, collecting payments from foreign clients, transferring funds across multinational operations, and managing the risk of currency fluctuations, we have expanded rapidly to aid customers and businesses globally.