This story is part of CNBC Make It’s Millennial Money series, which details how people around the world earn, spend and save their money.
When Phoebe Merrick first arrived on Waiheke Island in New Zealand, she thought she’d only be there for two months.
It was June 2023, just before Merrick’s final year of college, and the Virginia native planned to work a summer internship at a winery on the island. “I was like, ‘This cannot be real,'” Merrick tells CNBC Make It of the view while ferrying over from Auckland. “I just thought it was so beautiful.”
Two years later, Merrick is still on Waiheke and getting ready to move into a new house with her boyfriend, Reuben Sandoy, who grew up in the area. The two met during Merrick’s summer program and, by autumn, Sandoy had traveled to meet her family in the U.S. and the two decided they would live together abroad.
Reuben Sandoy grew up around Waiheke and met Phoebe Merrick while she was completing an internship at a local winery in 2023.
Merrick, 22, works remotely as a freelance marketing and social media manager while Sandoy, 29, runs his own plumbing business on the island. Together, the two make roughly $132,000 U.S. dollars per year.
Here’s how they live and spend their money on Waiheke.
Life on the island
Waiheke Island is the second-largest island in the Hauraki Gulf of New Zealand and is a roughly 40-minute ferry ride from Auckland. The area is known for its wineries and beaches.
Roughly 9,000 people live on the island during the winter, and the population swells to upwards of 45,000 each summer. More than 900,000 people visit the popular tourist destination each year, and it’s sometimes referred to as the “Hamptons of New Zealand,” where the rich and famous vacation.
Phoebe Merrick and Reuben Sandoy met through a mutual friend; within several short months, he visited her family in the U.S., and the two decided to live abroad in New Zealand together.
But ultimately, what drew Merrick to Waiheke is the reason why Sandoy has lived there the majority of his life: the beautiful scenery and slow pace of living.
As a local, Sandoy appreciates that everything is close and there’s little traffic. He also has little competition as a plumber to earn business on the island.
Adjusting to life far from home took Merrick some time. There were differences in routine, like driving on the other side of the road and living without the conveniences of Amazon delivery.
It also came with a level of culture shock around money and the price of living far from a big city.
Reuben Sandoy helped Phoebe Merrick adjust to various culture shocks about living in New Zealand, like learning to drive on the other side of the road.
“I felt like a millionaire when I first came over,” Merrick says, noting that paying with the strong American dollar versus the New Zealand dollar made her savings go farther. As of May, $1 USD is worth about $1.70 NZD.
Her earnings don’t go as far in local currency, but “it’s worth it for the lifestyle for me. I love living on an island,” Merrick says.
How they spend their money
Here’s how Merrick and Sandoy spent their money in April 2025.
- Savings: $4,689
- Food: $854 for groceries and dining out
- Transportation: $504 for gas, rideshares, ferry tickets and bus fare
- Discretionary: $297 for shopping, pharmacy needs and sporting event tickets
- Health insurance: $59 for private coverage
- Phone: $26
Living on an island like Waiheke is expensive.
The couple has been living in Sandoy’s mother’s house rent-free for several years. What they saved on rent they’ve funneled away for a down payment, mortgage payments and future renovation costs for a new house.
After their savings, the couple’s second-highest spending category was for food. Food costs are high because a lot of things have to be imported; going out to eat also comes at a premium when many restaurants cater to wealthier tastes and higher budgets.
“You’ll go to restaurants, and it won’t be like just a casual pizza or burger — it’ll be a truffle ravioli or caviar on crayfish and all of that,” Merrick says.
Everything from food to gas to everyday essentials are more expensive on Waiheke because they must be ferried from greater New Zealand.
The two enjoy food and are willing to spend on it — Merrick likes to host dinner parties and cook most meals, especially if she can recreate American recipes she misses, while Sandoy enjoys little luxuries like a steak dinner. “It’s probably what we enjoy spending the most money on versus anything like shopping or going into the city,” Merrick says.
The couple’s third-largest budget item for the month was on transportation — Sandoy drives around the island for work and spent about $800 NZD, or about $470 USD, on gas. Merrick prefers to take the bus around the island; the two will also visit Auckland via ferry and use rideshares to get around for the day.
New Zealand has a free health insurance program, but Sandoy pays an additional $100 NZD, or about $58 USD, per month for premium coverage. Merrick is on her parents’ health insurance and schedules doctors appointments for when she visits home in Virginia.
Finding home on the other side of the world
Sandoy says he’s been preparing to buy his own home with Merrick since they began dating, but the housing market has been tough to navigate. Real estate prices jumped in 2021 and remain elevated compared with pre-pandemic trends.
In late May, Sandoy closed on a house worth $1.055 million NZD, or nearly $621,000 USD, handing over a 10% down payment. While the price is “pretty average,” Sandoy says, he says he was able to afford it because it’s a fixer upper in need of renovations. Sandoy and Merrick have both been saving for future mortgage payments and renovation costs.
Reuben Sandoy has been saving for a home down payment in the last two year and in May closed on a fixer upper on Waiheke.
They moved in right away and will live there while renovating the three-bedroom, two-bathroom home over the next year.
“We’re both very excited to renovate together,” Merrick says. “It is something that we both find quite fun. It’s a great financial step to take as a couple, so it will be worth it in the long run, even if it is a bit scary right now.”
Phoebe Merrick and Reuben Sandoy will contribute to future mortgage and home renovation costs; Sandoy plans to do most of the work himself over the next year.
Work-life balance in New Zealand
Sandoy works up to 50 hours per week doing repairs and home projects for clients on the island; he makes around $153,000 NZD, or roughly $91,000 USD per year. It’s labor-intensive work involving “crawling underneath houses or working out in the elements.”
Sandoy says his job can be demanding because he’s self-employed.
Reuben Sandoy runs his own plumbing business and does home repairs around the island.
Merrick works about 40 hours per week doing social media and marketing for four local clients she found via a Facebook message board. She makes $70,000 NZD, or roughly $41,000 USD, per year. As her own boss, Merrick says she’s able to make a little bit more than what other entry-level marketing roles typically pay in New Zealand.
Merrick never had a full-time job in the U.S. but says “moving to New Zealand definitely changed my perspective on work-life balance.” Workers are generally entitled to four weeks of paid leave each year on top of about a dozen public holidays.
Merrick says many of her friends from college work over 40 hours per week, and some have as few as three vacation days per year. Merrick says that her contract jobs are flexible and her supervisors value taking breaks.
Phoebe Merrick says living in New Zealand has given her a greater appreciation of work-life balance.
“All my bosses are very understanding and definitely believe in taking time off as well, [including] for mental health,” Merrick says.
“I definitely do feel a lot happier just because my lifestyle is different,” she adds. “Back in the U.S., everyone was too busy to spend time with each other [due to] work.”
On Waiheke, meanwhile, “people have a lot more free time, and we’re able to all spend time together, and it feels a lot more social,” Merrick says, whether it’s going to the beach or traveling around the island and greater New Zealand together.
Conversions from New Zealand dollars to U.S. dollars were done using the OANDA conversion rate of 1 NZD to 0.58 USD on May 16, 2025. All amounts are rounded to the nearest dollar.
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