The cost of living can well be described as the comparison between your income and what you can do with it in a particular area. In New Zealand, consumer goods such as food and groceries, and durable goods such as houses, cars, and large appliances are much more expensive when compared to Ireland. However, the low insurance costs of houses, cars, and health tend to offset the initial costs. A more stable financial system related to the Fiscal and monetary policies for small economies will reduce the long-term impact. Fixed rates that don’t go up are great for mortgages and auto loans. Therefore, it’s fair to say the expenses as percentage income should be relatively close for citizens in the two countries.
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