Cost of living in New Zealand | IDP India

Here is a guide to budgeting yourself when studying in New Zealand

New Zealand is ranked second on the Global Peace Index attracting international students from all across the globe to pursue higher education. But the country has much more to offer than safety. Along with affordable tuition fees, students can expect studying in world-class universities from brilliant faculty and learn on-the-go with an experiential curriculum and a much greater exposure.

Since financing your studies in the New Zealand is an important factor to consider, it is imperative for you to start planning your expenses in advance. Here’s a guide of estimates to help you out!

1. Accommodation cost
   
   New Zealand offers multiple accommodation options to international students in the form of homestays, halls of residence and flats. The cost of each option depends largely on the region you choose to stay in. To give you a fair view, the student residence hall costs NZD 200 per week approx., a shared flat may cost NZD 120 per week and a private is around NZD 180 per week.
   But, if you choose to stay at any place other than university accommodation, you’ll have to incur extra charges of bond or finder’s fee and utility bills such as gas, power, phone bills and internet.

2. Living cost
   
   As a pre-requisite to study in New Zealand for more than one year, you’ll have to show that you have at least NZD 20,000 to support yourself for the first year. But if you are studying for less than 1 year, you must have a minimum of NZD 3,471 for each month of the study program to incur living expenses.
   
   Calculate your cost of living in New Zealand

3. Transportation cost

If you decide to stay on campus (university accommodation) in New Zealand , you can save a lot on your transportation costs since you’ll just take five minutes to reach your classes. But if you opt for accommodation outside of the university premises, you have to take public transport for which a one-way ticket can cost an average of NZD 2-10 or a monthly pass for NZD 150 (£78).
But don’t worry; most cities have discounted student fares. For example, Auckland’s HOP Card can provide you with discounts on ticket prices across the transport network. You can also get a Student Card for NZD 20 (£10.50), which helps you avail special student deals on clothes, food, travel, drinks, and even entertainment.

4. Health Insurance

New Zealand has a well-established healthcare system . To be covered under its benefits, it’s necessary that you buy medical and travel insurance from the date of enrolling until your visa expires. Health insurance is quite affordable for studying in New Zealand . Twelve months of health and travel insurance cover with StudentSafe (a popular choice of students) costs approx. NZD 697.

5. Part-time jobs

To cover your living expenses, you can also opt for part-time work in New Zealand where you are allowed to work up to 20 hours weekly. You are entitled to a minimum wage of NZD 21.20 (£9.90) per hour. We recommend, before opting for a job, make sure you double-check the terms and conditions on your visa. A large number of students choose this option to take some financial load off them and manage their daily expenses better.

The bottom line is that there’s a variety of options available to you for managing your expenses in New Zealand. You just need to plan ahead and stick to a budget. For any support, feel free to get in touch with an IDP’s international education experts.

Source: https://www.studyinnewzealand.govt.nz/live-work/cost-of-living/
https://www.timeshighereducation.com/student/advice/everything-you-need-know-about-studying-new-zealand
https://www.newzealandnow.govt.nz/living-in-nz/money-tax/comparable-living-costs (*indicative)
https://www.live-work.immigration.govt.nz/live-in-new-zealand/money-tax/cost-of-living-in-new-zealand
https://www.studyinnewzealand.govt.nz/live-work/cost-of-living/
https://www.employment.govt.nz/hours-and-wages/pay/minimum-wage/minimum-wage-rates/