This story is a part of CNBC Make ITS Millennium cash Collection, which particulars how individuals around the globe win, spend and save their cash.
When Phoebe Merrick first arrived at Waiheke Island in New Zealand, he thought he would solely be there for 2 months.
It was June 2023, simply earlier than the final yr of College of Merrick, and the native of Virginia deliberate to work a summer time internship in a cellar on the island. “I assumed, ‘This can’t be actual,” says Merrick, that CNBC does it as a view whereas transmitting from Auckland. “I simply thought it was so lovely.”
Two years later, Merrick remains to be in Waiheke and is making ready to maneuver to a brand new home together with her boyfriend, Reuben Sandoy, who grew up within the space. The 2 met throughout Merrick’s summer time program and, for autumn, Sandoy had traveled to fulfill his household in the USA and the 2 determined that they might reside collectively overseas.
Reuben Sandoy grew up round Waiheke and met Phoebe Merrick whereas finishing an internship in a neighborhood vineyard in 2023.
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Merrick, 22, works remotely as an unbiased advertising and marketing and social networks administrator, whereas Sandoy, 29, directs his personal main enterprise on the island. Collectively, the 2 earn roughly $ 132,000 US per yr.
That is how they reside and spend their cash in Waiheke.
Life on the island
Waiheke Island is the second largest island within the Gulf Hauraki in New Zealand and is on a ferry journey of roughly 40 minutes from Auckland. The realm is thought for its wineries and seashores.
Roughly 9,000 individuals reside on the island throughout the winter, and the inhabitants will increase to greater than 45,000 each summer time. Greater than 900,000 individuals go to the favored vacationer vacation spot yearly, and generally it is named the “Hamptons of New Zealand”, the place the wealthy and well-known trip.
Phoebe Merrick and Reuben Sandoy discovered themselves via a mutual buddy; In a number of months, he visited his household in the USA, and the 2 determined to reside collectively overseas at New Zealand.
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However finally, what attracted Merrick to Waiheke is the explanation why Sandoy has lived there most of his life: the gorgeous panorama and the gradual rhythm of life.
As a neighborhood, Sandoy appreciates that every part is shut and there’s little visitors. It additionally has little competitors as a plumber to win enterprise on the island.
Adjusting to life away from residence took Merrick for a while. There have been variations within the routine, resembling resulting in the opposite aspect of the highway and dwelling with out the facilities of Amazon’s supply.
He additionally got here with a degree of cultural shock round cash and the worth of dwelling removed from a giant metropolis.
Reuben Sandoy helped Phoebe Merrick adapt to a number of cultural clashes about dwelling in New Zealand, resembling studying to result in the opposite aspect of the highway.
Jan Pok | CNBC does it
“I felt as a millionaire once I first arrived,” says Merrick, and stated that paying with the sturdy US greenback versus the New Zealand greenback made his financial savings additional. As of Might, $ 1 USD is value roughly $ 1.70 NZD.
His earnings are usually not up to now within the native forex, however “it’s well worth the way of life for me. I like dwelling on an island,” says Merrick.
How they spend their cash
That is how Merrick and Sandoy spent their cash in April 2025.
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- Financial savings: $ four,689
- Meals: $ 854 for groceries and meals
- Transport: $ 504 for fuel, ridicule, ferry tickets and bus price
- Discretionary: $ 297 for purchases, pharmacy wants and tickets for sporting occasions
- Well being Insurance coverage: $ 59 for personal protection
- Cellphone: $ 26
Residing on an island like Waiheke is dear.
The couple has been dwelling in Sandoy’s mom’s home with out lease for a number of years. What they saved on the lease have channeled for an preliminary fee, mortgage funds and future renewal prices for a brand new home.
After their financial savings, the second highest expense class of the couple was for the meals. Meals prices are excessive as a result of many issues should be imported; Going out to eat can also be a cousin when many eating places fulfill richer tastes and better budgets.
“You’ll go to eating places, and it’ll not be like an informal pizza or hamburger, it is going to be a truffle ravioli or caviar in river crabs and all that,” says Merrick.
All the things, from meals to important gases, is costlier in Waiheke as a result of they have to be transported by the Nice New Zealand.
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The 2 take pleasure in meals and are keen to spend on it: Merrick likes to arrange dinners and prepare dinner most meals, particularly if he can recreate US recipes that he unusual, whereas Sandoy enjoys small luxuries as a meat dinner. “It’s most likely what we take pleasure in spending extra money as an alternative of occurring procuring or going to the town,” says Merrick.
The third largest funds article of the couple for the month was in transport: Sandoy results in the island for work and spent about $ 800 NZD, or round $ 470 USD, in gasoline. Merrick prefers to take the bus on the island; The 2 may also go to Auckland via the ferry and use ridiculous to maneuver over the day.
New Zealand has a free medical health insurance program, however Sandoy pays $ 100 NZD, or round $ 58 USD, per 30 days for premium protection. Merrick is within the medical health insurance of his mother and father and program the appointments of the docs for when he visits the house in Virginia.
Discover residence on the opposite aspect of the world
Sandoy says he has been making ready to purchase his own residence with Merrick since they began courting, however the actual property market has been tough to navigate. Actual property costs jumped in 2021 and remained excessive in comparison with pre-pandemics tendencies.
On the finish of Might, Sandoy closed a home value $ 1,055 million NZD, or nearly $ 621,000 USD, delivering an preliminary fee of 10%. Whereas the worth is “fairly common,” says Sandoy, says he may pay it as a result of he’s a superior reparator that wants renovations. Sandoy and Merrick have been saving for future mortgage funds and renewal prices.
Reuben Sandoy has been saving for an preliminary fee of the home within the final two years and in Might closed in a higher a part of Waiheke.
Courtesy of Phoebe Merrick
They moved instantly and can reside there whereas renewing the home of three bedrooms and two loos throughout the subsequent yr.
“We’re each very excited to resume collectively,” says Merrick. “It’s one thing that we each discover fairly enjoyable. It’s a nice monetary step to take as a pair, so it is going to be value it in the long term, even when it’s a bit scary at the moment.”
Phoebe Merrick and Reuben Sandoy will contribute to future mortgage prices and housing renewal; Sandoy plans to do many of the work throughout the subsequent yr.
Courtesy of Phoebe Merrick
Stability between working and private life in New Zealand
Sandoy works as much as 50 hours per week doing repairs and housing tasks for patrons on the island; He earns round $ 153,000 NZD, or roughly $ 91,000 USD per yr. It’s an intensive work in labor that entails “cracking underneath homes or exercising within the components.”
Sandoy says that his work will be demanding as a result of he works on his personal.
Reuben Sandoy directs her personal plumbing enterprise and makes residence repairs across the island.
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Merrick works about 40 hours per week doing social networks and advertising and marketing for 4 native shoppers that he discovered via a Fb message board. She earns $ 70,000 NZD, or roughly $ 41,000 USD, per yr. As his personal boss, Merrick says he can perform a little greater than different entrance degree advertising and marketing roles normally pay in New Zealand.
Merrick by no means had a full -time job in the USA, however says “transferring to New Zealand undoubtedly modified my perspective on the stability between work and life.” Employees typically have the precise to 4 weeks of paid license yearly along with a dozen holidays.
Merrick says that a lot of his college pals work for greater than 40 hours per week, and a few have solely three days of trip per yr. Merrick says that the works of his contract are versatile and that his supervisors worth the breaks.
Phoebe Merrick says that dwelling in New Zealand has given him a better appreciation of the stability between work and life.
Jan Pok | CNBC does it
“All my bosses are very understanding and undoubtedly consider in taking a free time too, [including] For psychological well being, “says Merrick.
“I undoubtedly really feel a lot happier simply because my way of life is completely different,” he provides. “In the USA, everybody was too busy to spend time between them [due to] work.”
In the meantime, in Waiheke, “individuals have far more free time, and we will all spend time collectively, they usually really feel far more social,” says Merrick, whether or not he goes to the seaside or journey on the island and an important New Zealand collectively.
New Zealand conversions to US had been made utilizing the Oanda conversion price from 1 NZD to zero.58 USD on Might 16, 2025. All portions are rounded to the closest greenback.
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