Inflation has risen to a huge 7.3% and wages aren’t matching that increase, putting pressure on Kiwi’s finances. Newshub has crunched the numbers for the cost of living in New Zealand’s three largest cities. An average family of four in Auckland would need a combined income of around $111,150 annually after tax and Kiwisaver contributions, in order to live comfortably (estimate assumes a very small entertainment budget and no extra, unexpected costs). Including tax, ACC and a three percent contribution to Kiwisaver, the family would need to earn around $162,600 annually.
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