The financial plan for getting to New Zealand reveals itself!

So here we are, we’ve been able to write down everything we can think of that needs to be done financially to get us to New Zealand.

But before I go ahead and reveal it, I need to inform everyone that:  we have pushed back the date we’re leaving for NZ to 1st March 2012.

We’ve added 3 months to the original time frame simply because we came to the realisation that we were being over-enthusiastic with our estimation on the time it would take us to get the money together to go.

The original plan was unrealistic, we wanted to save the most money as possible in the shortest time frame possible – and whilst that was a lofty goal, it just didn’t turn out to be achievable after much after thought.

It put too much pressure on us financially, which wasn’t really necessary once we thought long and hard about it.

We talked through leaving the orchard job for a higher paying job, but that would entail having to live in a flat, meaning we’d have to not only earn the money we already save at the orchard, but also the extra money that we would be paying on rent and bills etc.

Staying at the orchard job enables us to continue to live in a caravan, and as we don’t pay anything for living here it means we can save about 25% of our wage.

We’ve decided that during the next 12 months that if we can get part-time jobs during the week sooner rather than later then great, it will shorten the time frame until we go to NZ, but if we don’t then there isn’t any pressure on us financially, we can still go to NZ on 1st March 2012 regardless.

And that is the key point – being realistic.

Yes it is one of, if not THE goal we’ve always wanted to reach – going back to NZ: however, we’re not willing to sacrifice having a high quality job like we have now to get us there.

And realistically we weren’t allowing a contingency plan of anything going wrong financially – this way by allowing a full 12 months to get the money together if anything does go wrong we’ve got time to sort it out.

So that’s the decision we’ve made and to be honest we’re both much more happy now that we have a full 12 months to hit this challenge head on.

Right without further ado, here comes the financial plan to get us to NZ for 1st March 2012.

The following list is in the order we need to accomplish each stage in:

  • Working Holiday visas through Bunac and the Bunac fee’s – £1000

Bunac charge a fee currently of £350 each for what they call the ‘essential program’ this is an orientation package when you arrive in NZ of help with bank accounts, tax id’s, job help, hostel accommodation for 2 days etc — I’ve enquired whether this is optional and was told it’s not, I suppose they have to make some money somewhere!

  • Return flights to NZ – £1800

We’ve had a quick look at prices for return flights and a ball park figure of £900 each seems fair – this takes into account finding the cheapest fair, and then using any air miles we accrue through the Travel Hackers Cartel to upgrade or reduce the cost.

  • NZ travel fund (accommodation, food and buying a car) – £2800

This is only the amount the NZ authorities want to see you have upon entry, last time we went we arrived with £500 between us, but they didn’t check which was a big risk to take but it worked – this time around we can’t take the risk of being turned away at the airport!

As we’re going for 10-12 months we’re going to buy a car as it’ll make it a lot cheaper getting around places, and much easier to find work – we learnt this the hard way last time we were in NZ.

  • Travel insurance and backpack purchase – £300

Travel insurance should be no more than £120 each for the 12 months, and we know of a few places we can get some good backpacks for £30 or less.

  • Contingency fund for if/when we come back from NZ  – £500

Something to get us going in the UK incase we don’t save any money whilst in NZ – unlikely but you never know what could happen, we may just spend everything we earn on thrill seeking experiences!

  • Pay off the contract mobile phone and internet dongle – £450

We only recently signed up to 24 month contracts on a new mobile phone we share between us and also a new internet dongle, it’s a pain in the arse to have to pay off 12 months that we won’t use, but we didn’t know what plans lay ahead of us a few months ago!

Total Fund Needed for NZ: £6850

— — —

So there we have it, our financial plan for everyone to see – I don’t think we’ve missed anything out, but if anyone spots anything please let me know!

From our wages at the orchard we’ve worked out that we can save £5,500 over those 12 months, without taking into account any extra days we can work, which then means we have about £1,350 to make up.

This remaining amount of money will be coming from the sale of as many of our possessions as possible and then a part-time job at some point over the next 12 months.

Now that we have the financial side of the plan out in front of us, and having broken it down into stages it certainly makes it easier to work towards.

As we get to certain levels of savings we will be able to tick off another stage towards NZ and this will definitely help keep us motivated.

Next time I’m going to put up a post about the sale of our possessions, as we are quite literally selling everything possible, starting with the stuff we have in the storage container, and then the stuff we have here in the caravan – it’s all going, and this will be by far the scariest and hardest part of the whole challenge: I for one certainly don’t like getting rid of my tat, and nice shiny tat at that too, but it’s got to be done!

Until next time…

WeeMike

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