Gen Z worker with average salary reveals she’s ‘no longer broke’ after ‘money hack’ trick for budgeting her income
A Gen Z worker with an average salary has revealed her budgeting tips that she says helped her avoid bankruptcy.
Hannah Koumakis, 24, from New Zealand, splits her monthly salary across 16 different accounts, including expenses like rent, groceries, clothes and travel expenses.
“I make a very average salary, I’m not kidding, it’s below the New Zealand average,” she says in a now-viral TikTok video with more than 1.1 million views.
“But I still make it work and I still manage to save money for so many different things.”
An average salary in New Zealand is around $8,200 ($A7,580) per month or $97,300 ($A89,680) per year.
Ms Koumakis sets aside $788 (A$725) each month for “lump sum money”, which includes her rent, bills and groceries.
Her next biggest expense is $1,100 (AU$1,013) per month for the mortgage on her investment property she doesn’t live in, then $500 (AU$460) in a “tithe” account » for his church.
Every month, she gives herself $280 ($A260) for gas, $250 ($A230) for food, $50 ($A45) for entertainment, $150 ($A138) for shopping, $30 ($A28) for his car, $70 ($A65). ) for vacation, $95 ($A88) for insurance and $80 ($A74) for “other” costs, such as his phone bill.
Each month she puts aside $35 ($A32) to buy a grand piano, $50 ($A46) into a “blessings” account to “bless people” and $125 ($A115) per month in a short-term savings account.
Anything left over goes into their EFTPOS account or longer-term savings.
Hannah Koumakis (pictured), 24, from New Zealand, splits her monthly salary across 16 different accounts, including things like rent, groceries, clothes and travel expenses.
Some of his accounts, including more than $500 each month to his church
Some of her accounts “accumulate,” meaning that if she doesn’t spend it all, she’ll still transfer the entire amount.
While for some, if she doesn’t spend the entire amount, she will simply transfer the difference.
Ms. Koumakis said she is currently “rentvesting,” meaning she is renting in an area where she wants to live while still paying a mortgage on an investment property.
“I rent with five other roommates, pay $185 (A$170) a week in Auckland, then rent out my investment property,” she said. 7Life.
“The reason I do this is because my investment property is two hours from where I work. »
Earlier this year, Ms Koumakis revealed that her parents gave her $200 in spending money every month.