Gen Z worker on average salary reveals she’s ‘no longer broke’ after ‘money hack’ trick to budget her income

A Gen Z worker on an average salary has revealed her budgeting tips which she claims have saved her from being broke.

Hannah Koumakis, 24, from New Zealand, splits her monthly paycheck into 16 different accounts, including things like rent, groceries, clothes and travel costs.

‘I’m on a very average salary, like I kid you not, it is below the New Zealand average,’ she says in a now viral TikTok video with over 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) a month or $97,300 ($A89,680) per year.

Ms Koumakis sets aside $788 ($A725) every month for ‘flat money’, which includes her rent, bills and groceries.

Her next biggest outgoing is $1,100 ($A1,013) per month towards the mortgage on her investment property which she does not live in and then $500 ($A460) into a ‘tithe’ account for her church.

Each month she allows herself $280 ($A260) for petrol, $250 ($A230) for food, $50 ($A45) for entertainment, $150 ($A138) for shopping, $30 ($A28) for her car, $70 ($A65) for holidays, $95 ($A88) to insurance and $80 ($A74) for ‘other’ costs, such as her phone bill. 

Each month she puts away $35 ($A32) to save for a baby grand piano, $50 ($A46) to a ‘blessings’ account to ‘bless people’ and $125 ($A115) per month in a short-term savings account.

Anything left over goes into her EFTPOS account or longer term savings.  

Hannah Koumakis (pictured), 24, from New Zealand , splits her monthly paycheck into 16 different accounts, including things like rent, groceries, clothes and travel costs

Some of her accounts, including over $500 each month towards her church 

Some of her accounts are ‘accumulating’, meaning that if she does not spend everything she will still transfer the full amount. 

Whereas for some, if she does not spend the full amount, she will simply transfer the difference. 

Ms Koumakis said she was currently ‘rentvesting’, which means she rents in an area she wants to live while also paying a mortgage on an investment property.

‘I am renting with five other housemates, I pay $185 ($A170) per week in Auckland then I’m renting out my investment property, she told 7Life.

‘The reason why I do this is because my investment property is two hours away from where I work.’

Earlier this year, Ms Koumakis revealed she was given $200 every month in pocket money from her parents.