Join The Conversation: Student Newsletter End of Year Survey Results 2022

We asked our subscribers to Join The Conversation by sending out an End of Year survey. We had responses from 180 of you, sharing your living situation, your money woes, how well you know your KiwiSaver provider and how you interact with MAS. If you had your say, thank you and we’ve taken notice. Your answers will help to inform more articles with savvy saving hacks, wellbeing tips and easy explainers to keep you studying and living smarter in 2023 and beyond.

Who Joined The Conversation?

So who are ‘You’? You are university students and you’re quite good at it; almost 75% of you are three to five years into your studies. In case you didn’t know already, MAS stands for the Medical Assurance Society so we were pleased to find over half of you are studying towards medicine and health related degrees. (Although you don’t have to be studying medicine to join us). 

Coming second to that, a fifth of you are studying Veterinary Science or Technology, which could explain why a fifth of you also said you live in Palmerston North, where Massey University’s Veterinary Teaching Hospital is located. 

Other main student hubs Dunedin and Auckland house the highest density of you, with the former edging out in front. 

How students are living 

When it comes to living arrangements you said the more the merrier. We found that 75% of you live with others either flatting, boarding or in a dorm. (We had a hunch that students are a social bunch).

It makes sense then that 79% of you live in a rented flat or home. But don’t worry, home ownership can be in your future. We know you’re a little busy with study at the moment, so here's the easiest way to get ahead. 

Hot issues, hotter atmosphere

You’re the next generation, and you’ve got new thoughts, ideas and opinions that you’re ready to fight for. Climate change was a hot topic (again) in 2022 and you thought so too. In a multi-choice question where respondents could select more than one option, 39 of you said climate change is important to you.

Climate change is important to us too. That’s why the MAS KiwiSaver Scheme is invested responsibly and is certified by Responsible Investment Association Australasia (RIAA). We’re also a signatory to the United Nations Principles of Responsible Investment, so you can be confident your investment is supporting the health of our planet.

There were a few ups and downs in 2022 as the country teetered out of the era of pandemic lockdowns, Russia invaded Ukraine, and the United Kingdom sped through three prime ministers. But your concerns were a little closer to home, with 73 of you saying the cost of living was weighing on your mind. 

If you’re surviving off free wifi at university, forgoing heating in winter for another layer under your puffer jacket, and you had to put back the last three items on your grocery list to pay rent, give our budget hacks a go. 

Students’ biggest money worries 

We know being a student isn’t easy, especially when it comes to managing your finances. The top three money concerns for 2022 were budgeting, student loans, and no surprise the cost of living came in at number one. We’ve put together our top money tips for students and graduates. 

With the current high levels of inflation, it’s no wonder the rising cost of living is front of mind. With everything from a loaf of bread, butter and milk, to rent and power prices increasing, things can feel pretty grim. For those subscribed to JTC, you already receive money-saving tips direct to your inbox, the chance to win great prizes, plus automatic entry into a monthly draw to win a MAS prize pack. 

Student loans, although necessary, can feel like a dark cloud over all the fun, study and personal growth at university. They can look especially dark and menacing at the end of your degree – when the balance is highest – as you search for that all important first job. Our survey found that a lot of you were concerned about the cost of study and your student loan.  

Luckily for Kiwis, student loans are interest free while you live and work in Aotearoa New Zealand and you don’t need to start contributing to the balance until you earn more than $21,268 a year. Once you’ve got that first job, you will update your tax code with the suffix ‘SL’ (student loan) and relax because your repayments will be automatically deducted from your pay before you receive it. 

Learn some strategies for paying off your student loan fast.  

Keep up with KiwiSaver

If you’re a student, you might also have a part-time job. If that’s the case, then hopefully you’ve already opted into a KiwiSaver scheme and are building towards a comfortable retirement or first home. 

For the 13% of you who left this question blank, here’s how to contribute to KiwiSaver and why opting in will help your money grow, even if you’re studying full time. You can contribute as little as 3% of your income, and if you contribute at least $1,042.86 per year – or about $20 a week – the government will top up your balance by $521.43. 

Before you join KiwiSaver, make sure you know where you’re putting your money. Just over half of you didn’t know if your KiwiSaver scheme provider has a responsible investment policy. If you’ve been left wondering about whether your KiwiSaver scheme aligns with your values, and putting off taking the time to check, now's the time to find out if your money is a force for good. 

As well as being a responsible investor, MAS established and funds the MAS Foundation to tackle health inequities in New Zealand. We’re helping to inspire healthier communities and you can too by joining the MAS KiwiSaver Scheme. 

MAS is here to help 

It was great to hear that 85.6% of you know our MAS Advisers can talk with you about KiwiSaver, contents, car and house insurance. 

You may also know that MAS Advisers are salaried and don't receive commissions.

It also might have something to do with the fact that the MAS house, car and contents insurance was awarded the Consumer New Zealand’s People’s Choice Award for the sixth year in a row. 

Get in touch

If you do want to speak to a MAS Adviser, you can contact us through our website, web form, email, or call. Your preferred method to contact a MAS Adviser was almost a tie between our website and email. Fair enough, we value convenience too. 

If you haven’t signed up already, stay in the loop with our best budgeting tips, KiwiSaver explainers, student life hacks, and wellbeing advice by subscribing to Join The Conversation.