Cost of Living

Whāinga ako: Lesson Goals

To explore the reality of living costs to a person flatting

Kupu matua - Keywords

Inflation, cost-of-living crisis

Mahi - Work

Task 5: The Cost of Living

What is the Cost of Living Crisis?

Across the world people are struggling to manage the cost of bills and food. This report is from England, so some small things are different but it still relates to us and he explains things really clearly.

The cost of living crisis is causing people to go into bad debt and making it even harder for them to get out of it.

Guesstimate your bills

Fill in the table in your Financial Journal. You are guessing how much each of the areas would cost.

Find a realistic flat

Repeat the task you started all of this with EXCEPT find a realistic flat that will make your money situation more manageable.

How does this flat compare to your "dream flat" you found earlier?

How much power will I use?!

Information provided by Powershop & Canstarblue

You’re a low user if:

you use less than 8000 kWh of power per year; or
you use less than 9000 kWh per year if you live in all areas south of and including Christchurch, but excluding the West Coast

Let's assume you use 9000 kWh over the year. The equation will be:

9000 x (price from which ever city you are flatting) = A yearly price for power (in cents so you will need to convert it to dollars)

Go to https://www.canstarblue.co.nz/energy/electricity-providers/ pick one of the power companies and try to figure out what it would cost your flat per week for power. (You can do this as a group but you must all write in your answers to your booklet).

On your doc, in the table write:

Power company you would pick
How much per week for power
How much is this per person in the flat?

List of Broadband Companies - Compare Broadband - Broadband Compare

Internet

This website gives you a list of allll broadband companies in NZ. It also lets you know all the good deals out there.

Find out what it costs per month for a good internet deal.

How much internet do you use?!

Groceries

Here's the important stuff... FOOD! This is something that can add up so quickly (especially if you splash out on takeaways!)

Think about the meals you can make yourself. List seven of them on your doc.
Go to the Countdown website and find all the ingredients for these meals to price up how much seven meals costs
What do you think is the BEST cheap dinner for someone flatting?
How much was the total amount of your bill?
How much would this grocery trip cost per person? (keep in mind this doesn't even include snacks!)