Issue 5 - Money

www.salient.org.nz

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CONTENTS 04-11

12-15

News

Struggle Street (Feature)

Why Can’t We Print More Money?

(Feature)

20-21

22-24

25-26

Centerfold

Parking Not Included (Feature)

Strapped For Cash (Feature)

28-29

30-34

35-38

Advice from a Financial Activist (Interview)

Culture & Columns

Entertainment

About Us Salient is published by, but remains editorially independent from, the Victoria University of Wellington Students’ Association (VUWSA).

Salient is funded in part by VUWSA through the Student Services Levy. Salient is a member of the Aotearoa Student Press Association (ASPA).

The views expressed in Salient do not necessarily reflect those of the Editor, VUWSA, or the University.

Complaints Complaints regarding the material published in Salient should first be brought to the Editor in writing (editor@salient.org.nz). If not satisfied with the response, complaints should be directed to the Media Council (info@mediacouncil.org.nz).

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Kickstarting My Girlboss Investing Journey EDITORIAL For the past month, I’ve been attending investing classes.

They’re hosted by a family friend, and my parents coerced me into going, telling me I should learn to be smarter with my money now that I’ve finished my degree. Shock horror, I am the youngest person in the class by at least a decade.

We learnt that investing is not a hobby and it requires time: time to study charts, to do fundamental and technical analysis, to buy, to sell, and to wait.

We unpacked investing jargon: candlesticks, stop-losses, index funds, compound interest, and positional trading. It was stressed that we should “never catch a falling knife”—never invest in a stock just because it’s cheap in the present, as you don’t know if or when it will rise in value again.

Slowly, I started feeling flutters of empowerment in my belly. Maybe the financial world is for me. I wondered if I should preemptively write ‘girlboss’ in my LinkedIn bio. Elon Musk, eat your heart out.

With that being said, I haven’t actually invested a cent. I sit in the corner of the class, head down, typing diligently but never engaging in discussions.

Learning the theory doesn’t mean jack shit if I’m not willing to take a leap of faith and trust myself. I’ve always excelled at academics, yet upskilling my financial literacy feels so unnatural to me. I would rather be proudly ignorant than actually admit I want in on the elusive world of finance bros. If you’re anything like me, here’s a piece of advice— lose the attitude.

Money does make the world go round, it can buy happiness, and wealth is health. You, with your hemp tote bag and thrifted cardigan, are not going to single handedly dismantle capitalism by refusing to learn how to grow your wealth. The only person this disadvantages is you. You can vote to tax the rich and also become an ethical investor. If you don’t know where to start, check out www.mindfulmoney. nz for information on how to invest your KiwiSaver into an ethical fund that aligns with your values.

This week, Salient answers your long-standing questions about money.

Our first feature investigates StudyLink’s shortcomings and, for all of you who are both dependent on and resentful of StudyLink, I highly recommend reading it. Later on, Bridget breaks down inflation using Scrumpy metaphors, Lauren does the math on how paid parking exacerbates our cost of living, Joseph figures out why we don’t use cash anymore, and I share student-friendly advice from a financial activist.

The news section also SLAPS this week. We break down the shitshow that is VUWSA’s potential exit from NZUSA, calculate exactly why Te Puni Village costs so damn much to live in, argue in support of the Free Fares campaign, and so much more. News is important. Read it.

Whoever you are, whatever your financial situation is, this week I implore you to think more about money. Talk about it. Learn about it. There may be a dormant girlboss inside all of us.

Ngā manaakitanga,

JANHAVI GOSAVI (SHE/HER)

www.salient.org.nz

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Controversies Erupt on Social Media Surrounding VUWSA’s Motion to Leave NZUSA Words by Azaria Howell (she/her) and Janhavi Gosavi (she/her) This year’s Victoria University of Wellington Students’ Association (VUWSA) by-elections came with a controversial referendum regarding the students’ association giving a 12-month notice to leave the New Zealand Union of Students’ Associations (NZUSA). To put it bluntly, it was a trainwreck that we couldn’t look away from.

Here’s some backstory: Membership to NZUSA costs VUWSA $45,500 per year. VUWSA President Ralph Zambrano told Salient, “The reason why we’ve decided to put forward a 12 month notice period is because we don’t feel that NZUSA is performing as effectively as it has in the past when it comes to advocating for students’ issues, especially in a university level.” Zambrano said this before voting had even started, implying VUWSA would put forward the motion regardless of the outcome.

Zambrano also told Salient that the structure of NZUSA was “outdated.” VUWSA is essentially using the 12-month notice as leverage over

NZUSA, to urge them to reform the union.

Now here’s where it gets spicy.

Several student politicians, both past and present, have publicly criticised VUWSA for the move.

Michael Turnbull, 2021 VUWSA President, stated on a public Instagram story, “with VUWSA gone, the national student voice will be significantly damaged.” Turnbull added that if VUWSA were to leave NZUSA, “VUWSA [would be] setting itself up to walk away from national unity.”

Turnbull was especially critical of VUWSA’s consultation of students and representative groups on the matter. “Instead of open acknowledgement that more could have been done to engage with students, we saw defensiveness and an inability to take responsibility for their actions. It got so bad, that even VUW Confessions popped off on it.”

The day after the results were announced, Turnbull posted further criticism of VUWSA in an open letter to the organisation. In this, Turnbull, alongside other student politicians, claimed that VUWSA had breached five different articles in their constitution in the ways they had run the referendum.

Former NZUSA President Isabella Lenihan-Ikin agreed with Turnbull, and publicly told VUW students to vote against the motion. Lenihan-Ikin stated that NZUSA membership costs only $2.60 per student, adding that they have pushed for a nationwide student voice on a variety of issues.

According to Lenihan-Ikin, NZUSA “won free fees for first year students, additional $1000 course related costs in 2020, Covid-19 hardship funds, additional mental health funding, zero interest on student loans, and increases to student allowance in 2017.”

Lenihan-Ikin also added that the matter did not receive proper discussion, saying “I note that VUWSA have frequently called out the university for blind-siding them in certain decisions. VUWSA have blind-sided the students in this situation.”

would be diverted to student representative groups such as Tauira Pasifika, Finau claimed this was said “without [VUWSA] providing a plan.”

Current NZUSA President Andrew Lessels said “NZUSA funds Te Mana Ākonga, Tauira Pasifika and the National Disabled Students’ Association through a variety of partnership agreements.”

The union also funds the salary for the National Coordinator for Thursdays In Black. If VUWSA were to leave, NZUSA would face significant budget cuts. Despite this, Lessels told Salient that NZUSA is committed to funding these groups at the current rate.

Zambrano agreed that there had not been proper consultation during the VUWSA IGM, which was live-streamed on Facebook: “We could have done better and we should have done better. I front for this and I apologise for this wholeheartedly, this is not the VUWSA I know and love. Two social media posts is not enough.”

Many of these NZUSA-endorsed campaigns, however, have taken place in the past and are not ongoing. As of 21 March, 2022, NZUSA has not released a single press release, despite electing a new executive in Nov 2021.

VicLabour publicly condemned VUWSA’s potential move to leave NZUSA on social media, saying, “union-busting is never a good move.”

They urged VUWSA to not leave “regardless of the referendum result.”

VUWSA said that they had consulted student representation groups on campus before the referendum.

However, Tauira Pasifika’s national president Jaistone Finau said that VUWSA’s consultation on the matter didn’t show Tauira Pasifika’s full view.

Finau said that VUWSA had consulted with him in his capacity in Tauira Pasifika, but says, “what they failed to mention in the Instagram story is that at that moment, I stated outright I would campaign against it.”

The motion for VUWSA to provide notice to leave NZUSA narrowly passed, with 36.1% of voters supporting, 34.62% opposing, and the rest abstaining. Assuming the student population is 22,000, the 985 votes cast represent 4.4% of the student population at VUW. A VUWSA referendum needs to have at least 5% of students represented for results to be binding.

If NZUSA takes steps to reform the union, VUWSA will likely withdraw their notice to leave.

“I get sick and tired of the way that mainstream associations have used Māori and Pacific associations to further causes without providing proper detail,” Finau added.

Despite VUWSA claiming that the money that currently goes towards union fees for NZUSA www.salient.org.nz

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Opinion: Students Need Free Fares Words by Mika Hervel (he/him)

Students have lots of regular costs to pay, many of which are continuously rising: rent, food, power, and transport have all increased in recent years, and are showing no sign of stopping. In an effort to address this, a campaign arose last year to make public transport free for students, community service card holders, and under 25s. The Free Fares campaign, run by the Aotearoa Collective for Public Transport Equity, recognises that decisive action is needed to reduce our emissions and address transport poverty.

For many people on low incomes, such as students and community service card holders, public transport is their primary mode of transport. Public transport is often relied on to access important social services, visit doctors, go to events, and connect with friends and the wider community. Have you ever had to decide whether you can afford transport to see a friend who lives across town, or avoided coming to uni to save on the train fare? More serious than that, people can’t attend doctors’ appointments because they can’t get into town (a problem which disproportionately affects Māori and Pasifika people).

The sad reality is that the price is often too high for public transport to be a viable option. Students are forced to make tight budgeting decisions because of these costs.

As an organiser for the Free Fares campaign, I have had the opportunity to speak with many students about how public transport options impact them.

George, a Victoria University of Wellington student who lived in Karori, chose to motorbike into campus— it was cheaper than paying the bus fare twice a day.

Wellington student Khushboo, who commutes from Lower Hutt, can spend $50 a week on transport, which means she has to limit the days she comes to campus in order to cut costs.

permanent action is needed to make a difference for students and for the climate.

Transport is responsible for 21% of emissions in Aotearoa and that figure is only growing. Policies like free fares prioritise a just transition to a zero-carbon economy, ensuring those most vulnerable to sudden changes in society are not left behind as we move to tackle this crisis.

Free fares are not a new idea. In fact, there are places across the world which have free public transport for students, young people, and community service card holders. Cities in the Netherlands, France, Estonia, Sweden, and Scotland all have policies like this, which have greatly increased the amount of people using public transport.

Aotearoa’s SuperGold card grants free public transport to people aged over 65 during off-peak hours and prevented 1.4 million car journeys in its first year.

Students in Palmerston North also have free public transport. There is clearly precedent for this, and it would undoubtedly help people on tight budgets.

In this oment of crisis, we need the government to take bold action to address social and environmental injustice. Making fares free for low-income groups helps enable a shift away from private vehicles and is a step towards a fair transition into a zero-carbon economy. By investing in a policy like this now, we save money overall by mitigating the environmental and societal harm that would eventuate in the long term. We cannot keep going like this. Now is the moment for free fares.

“There’s so many other living costs that money could be going towards. The fact that I don’t get the full experience of my university sucks”, she says.

Low-income households, including that of many students, have the lowest rates of car ownership and spend the highest proportion of their income on transport. This is on average a whopping 28% of their household income, compared to those in higher income brackets, who spend only 8%.

In our desperately unequal society, free fares is a policy intervention which would make the most difference to those with the least. The recent announcement of half-price fares for three months is a step in the right direction, but far more bold and

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Source: FreeFares

Continued Calls for Nationwide Review Into Racism in Universities Following Troubling Findings in Otago Words by Ethan Manera (he/him)

After findings of systemic racism in Otago University’s School of Physical Education, academics across Aotearoa are again calling for more to be done to address racism and discrimination.

An independent review which began August 2021 investigated the culture of the School of Physical Education, Sport, and Exercise Sciences. The findings of the review confirmed evidence of “systemic racism, discrimination, and bullying.” This follows ongoing issues of racism within the PE faculty which led to Māori educators physically removing themselves from their offices in order to “maintain their mana”.

Ongoing racism and discrimination were found university-wide. Academics at numerous tertiary institutions across Aotearoa have since supported calls for a national review of racism in universities.

A 2020 study of Māori and Pacifika in academia called “Glass Ceilings” found evidence of substantial inequalities in the pay and promotion of Māori and Pacifica academics throughout Aotearoa. Subsequent studies have identified prolific systemic racism and discrimination, with one finding over 86% of Māori academics experience racial discrimination at work.

Dr Joanna Kidman, a professor of indigenous sociology at VUW, has experienced racism throughout her employment and believes “it’s time for a nationwide review”. Kidman told Salient, “Some racism which is being experienced is really intense and toxic, we need systemic change but we are only getting small steps. This is happening across the country and we can’t wait forever, [a review] needs to happen now.”

Kidman was one of 37 Māori academics who signed an open letter in 2020 calling for a review of racism in the tertiary sector. Minister of Education Chris Hipkins said at the time he intended to respond to the open letter saying, “We take very seriously reports of systemic racism.” The government has not yet made any indication of going ahead with a review.

Dr. Cherie Chu-Fuluifaga is a Pasifika academic at VUW who also supports a national review. Dr. ChuFuluifaga has experienced feeling “invisible” saying “[their] identity and work is not seen”. Chu-Fuluifaga stated, “Institutional racism exists in every university structure.”

When asked if universities in Aotearoa need a review investigating racism, Race Relations Commissioner

Photo: Joanna Kidman, Source: RNZ Meng Foon told Salient, “I note allegations and cases of racism in our universities have arisen over the years and it remains a troubling issue […] I therefore welcome any moves to address racism in our universities and identify solutions to eliminate it.”

Ngāi Tauira, VUW’s Māori students association, is also calling for a report to take place saying, “insofar as a review can pinpoint and resolve key sources of racism, then it is useful.” A spokesperson from Ngāi Tauira said, “Universities founded in NZ are wrought out of colonial activity [...] racism exists within the structure of the university, to course material to regular interactions between students, staff and the university community at large”.

VUW said although they would contribute to a nationwide review, their focus is on the current programmes underway to address racism in the university. These include the Te Tiriti o Waitangi SelfReview and the development of an “anti-racism” program which has been recommended by the Equity, Diversity, and Inclusion steering group.

“Like all universities, there is still further work to do to address racist behaviours and their impacts and we acknowledge that”, a VUW spokesperson said.

Prime Minister, Jacinda Ardern told Salient that she doesn’t believe a report is necessary, saying she’s aware of the issue of racism in universities but believes it’s the duty of the universities themselves to resolve: “This is an area where I would expect responsibility to be taken at an individual campus level.”

For support: Mauri Ora Student Health and Counselling: 04-463 5308 1737: Free call or text 1737 any time for support from a trained counsellor www.salient.org.nz

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VUW Halls Investigation: A Tale of Rent Division, Mouldy Bread, and Profits Words by Azaria Howell (she/her) The Rent Divide The cheapest room at Te Puni Village (TPV), an oncampus hall of residence managed by the Victoria University of Wellington, costs $18,620 per year. Weir House, a mere five-minute walk away, costs $13,072 a year. What’s up with that?

TPV is a much newer hall of residence, built in 2009 with state-of-the-art modern facilities that can house up to 398 students. Weir House, on the other hand, gives a more ‘vintage’ vibe and is described as ‘historic’ by the university as it was opened in 1933.

Despite this, Weir House is fully earthquake safe and equipped with heating units in every room. In addition, Weir boasts sinks in every bedroom, something TPV lacks. Both halls offer full catering services, hall activities, games areas, and music rooms. Is a five minute walk really worth $5,548 a year?

TPV, the most expensive hall by far, offers studio rooms with an ensuite and small kitchenette, for $520.

Regular bedrooms are $490. The current maximum StudyLink living costs allowance is $242.53 per week.

In April 2022, the minimum wage will rise to $21.20 per hour, with StudyLink living cost payments rising by $25.

One would need to work roughly 13 hours at this minimum wage per week, alongside receiving the full StudyLink living costs payments (whilst studying full-time) to be able to afford Te Puni’s most expensive room. This is above StudyLink’s student allowance earning threshold.

Source: VUW

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Source: Change.org A former TPV resident, who wished to remain anonymous, said he chose the hall because it was the closest to campus—he had saved up enough money from part-time jobs in high school to be able to afford the ‘uni experience.’ “Of all the halls I looked at, Te Puni looked the nicest, I was willing to pay a bit extra and use my student loan,” the former resident told w, adding that it was an enjoyable experience, but “probably not worth the money.”

I called TPV disguised as a Year 13 looking at my options—I wanted answers as to why it was so much more expensive than other halls of residence.

Equipped with the fake naïve voice of an eager future student off to the big city, I was told that TPV is more pricey as “it’s a newer hall” and “it’s extremely close to campus.” For TPV, the high fees come with a view of Wellington City. I was told at TPV, “residents can walk about [two] or [three] minutes and be on site whereas in other halls it can be a 15-minute walk.”

Weir House, on the other hand, was described to me as “not a highrise” since “a lot of other halls are converted office buildings whereas Weir House is only, like, three stories.” I was told the hall was a “prime location, right by the uni,” and that the only other hall that can offer that is TPV. They dodged the money question completely, but said “it is also the oldest VUW-owned hall so you really get a sense of community there like no other.” Weir House’s reputation would confirm this—it’s seen as quite an academic hall, stereotypically populated with Law and Politics students who enjoy a chill drink on weekends.

The Profits Issues with halls of residence often come back to the primary issue of money.

A petition signed by thousands in 2019 stated that students were “frustrated” by hall prices increasing: “Paying to stay in a university hall is already a financial struggle for many students. For those of us who did not come from a wealthy family, we often relied on part-time work and other sources of income to stay at a hall during our first year of study.” The petition to reverse hall price increases was unsuccessful.

Source: RNZ The Mouldy Bread Many first-year halls of residence provide fully catered meals via Compass Catering. Compass Catering’s website states that their food is top-notch: “We provide innovative, nutritious dining solutions that help support academic achievement at the highest levels.

We endeavour to show students that healthy eating can be tasty and fun.” Residents disagree.

Across multiple hall-wide food review Instagram pages, it is clear that “tasty and fun” does not ring true to the students who pay thousands of dollars a year for what is meant to be “the best possible day-today service.” When I viewed these pages, I drowned in a sea of complaints, complete with photographic evidence of meals not fit for human consumption— hairs adorn chicken curries, slugs are found swimming through veggie wraps, and bread is toasted with a hint of green and white mould, clearly expired.

Issues surrounding the quality of VUW hall food are not new.

A request made under the Official Information Act in 2019 requested information regarding the “food quality” and profits of all VUW-managed halls of residence. The university was unable to complete this request, however, as they “do not produce financial statements for each halls of residence.”

A commenter at the time said that $18,000 a year for a room was “fucking bullshit.” This has since risen to $19,760.

After the first nationwide lockdown in 2020, many residents were upset that VUW had put “people over profits” by suggesting that students pay rent during the lockdown, despite being ‘kicked out’ of halls of Residence. After a successful student-run rent strike, the university backed down: students in VUW-owned halls were not charged any accommodation fees during alert levels three and four and were given until 15 May to cancel their hall contract without having to pay an out-fee.

In addition, students who chose to not return to their hall until later were not charged any fees until they returned. “These fee discounts have cost the University $6,872,560,” an Official Information Act response from Victoria University of Wellington revealed.

The university had also provided Stafford House residents a four-week rent rebate due to the impacts of the first lockdown, which cost the university $270,750. Stafford House residents have not had an easy run recently, though, as there has been a significant delay for them to get access to bond repayments.

Despite this, the request revealed that $4.5 million was spent on the catering contract for all of the university’s halls of residence in 2018. The university added that, in 2018, a portion of the $4.5 million was spent to provide “2,199 students with a total of 670,346 meals.” This equates to $6.70 per meal.

The university also reported that they had made $141,265.57 from VUW-owned vending machines in 2019 alone.

Source: VUW

www.salient.org.nz

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Outrage Over Lincoln University Students’ “Disgusting” Racism Words by Ethan Manera (he/him)

Content warning: graphic descriptions of racism and white supremacy.

Concern has been raised after pictures and videos started circulating on social media of Lincoln University students showing “disgusting” displays of racism.

The pictures depict students outside Lincoln University’s Centennial Hall dressed for a toga party with one student wearing a homemade KKK costume gesturing toward a person of colour.

A video which has been reposted on the @uc.unihall. confessions Instagram page shows a student filming herself ‘rapping’ violent and offensive language about people of colour. The video contains heavy use of racial slurs, including the n-word. Other students have commented on the post saying, “Literally the most disgusting thing [I]’ve seen in a long time”, and calling for the student in the video to be “cancelled”.

It is believed members of the public have complained to Lincoln University about this behaviour.

TikTok creator @brownsapphist called out the student in the video on social media. The online activist told Salient, “The sheer disgust I felt when I heard those words come out of her mouth […] as a person of colour myself, I heavily empathise with the Black community and all the anti-blackness they have to put up with in Aotearoa. This country has no place for racists, and I will not sugarcoat my feelings”. She also urged Lincoln University to take more action against the student: “[W]e want you to hold your student accountable for her actions. We don’t think a student who holds such disgusting thoughts and opinions around minorities deserves a place in your institution.”

When Salient approached Lincoln University for comment, Vice-Chancellor Professor Grant Edwards said the university is aware of the “offensive” content and is currently undertaking an investigation. “Lincoln University is dedicated to providing a fair and inclusive environment [...] where diversity is welcomed and celebrated”, Edwards said. “The University actively upholds its student and staff Code of Conduct, including its Prevention of Bullying Harassment Policy.”

The Lincoln University Students Association told Salient, “LUSA does not tolerate harassment, discrimination, or racist behaviour of any kind”, saying they expect the student to be dealt with accordingly and the university “work through any disciplinary processes.”

Te Awhioraki, Lincoln University’s Māori Student association informed Salient that the university will address the controversy in the coming days.

For support: Mauri Ora Student Health and Counselling: 04-463 5308 1737: Free call or text 1737 any time for support from a trained counsellor

San Fran Set to Re-Open as Soon as Traffic Light System Allows Words by Beth Mountford (she/her)

Ziggy Ziya, Venue Manager at Cuba Street bar, San Fran, has confirmed that the venue will “swing back in pretty quick” as soon as Covid-19 restrictions allow.

restriction does not require audience members to be seated. He says he would like to be back in “full swing

by May.”

The Prime Minister announced last week that indoor events can now increase to 200 capacity, however they must still be seated.

“If it lifts sooner we will probably open sooner”, he continues.

Ziya says that San Fran can viably operate at 50% capacity—or anything over a 200-person limit—if the

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The venue has been closed since the beginning of Feb after concern about safety with rising case numbers.

Ziya says that he contemplated running 100-person

students are the life of the live music scene. We’ll do a lot and have some really good parties”.

Joel Cosgrove, Curator of Eyegum Music Collective, says that more government funding would make a huge difference to artists and venues who have been compromised by Covid-19 closures.

Grants like the Arts and Culture Recovery Programme are the beginning of this, but “[s]o much of what we’ve gotten has been from just public activism […] it’s exhausting,” he says.

Source: Beth Mountford

“We’ve got a fight to keep what we’ve got, and then we’ve got to fight to extend that.”

seated shows but, with this being just a quarter of the venue’s capacity, it would put financial strain on both the venue and the artist.

This, as well as the stage-sharing nature of the live music scene, which puts musicians and venue operators at particular risk of Covid-19 transmission, led to the closure of San Fran early in the Omicron outbreak.

“Everyone loves a venue when it’s up and cranking but if you can’t isolate [from others] or don’t have enough space, it’s a bit of a risk,” he says.

Emphasising the integral role that students will play in the bounce-back of the venue, Ziya says, “The

Source: Beth Mountford

Kick off your studies with some extra cash in your pocket.

Struggle Street

Unpacking StudyLink’s Biggest Flaws

Words by Maia Ingoe (she/her), Beth Mountford (she/her), Lily Holloway (they/them) StudyLink plays a massive role in helping students finance their way through university, but the system is deeply flawed. Here are four key questions Salient investigated to shed light on the various shortcomings of StudyLink.

Why Is Applying for a Student Allowance So Complicated?

Student Allowance is the heavenly, loan-free payment that a lucky few students get access to. StudyLink measures parental and personal income and factors in marital status and siblings to determine who gets the support payment and how much.

Students qualify for allowance if their parents’ combined income from the last year is under $100,000. StudyLink reduces this figure if you don’t live with your parents, if your parents don’t live together, or if they support another student between 16–23. There are further reductions if you only have a relationship with one parent, or if you have no relationship with parents, but at both stages proof is required. All of these factors combine as ‘means testing’ for the allowance, determining who gets it and how much they get per week.

According to the Ministry of Social Development, the parental income threshold targets allowance payments to those who need them most. However, this method assumes that parents with higher incomes inherently support their children while at university. In reality, every parents’ willingness and

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ability to provide financial support is different, but StudyLink does not consider these nuances.

Lillias Ovenden-Carlyle moved to Wellington at the start of 2021 with her student allowance application still pending. When it wasn’t accepted, she had to jump through hurdles to show her parents income had changed from the previous year: “[Since last year], my parents have worked less hours, my Mum’s had a baby, there’s been a pandemic, those are not true numbers.”

While Lillias wasn’t eligible for student allowance at first, it didn’t mean her parents had the ability to support her. “I thought that it was quite frustrating that they only consider siblings of over 16 that are also in school,” she said. “With my parents being split up and having children that are much younger than me, who all require uniforms [and] food […] it’s a bit hard to full time support me and support them.”

Some students are able to access the payment despite their parents having a high income or wealth. Students may be getting the allowance payment because their parents have wealth tied up in a trust or business assets, or lowered their income for the previous year. When asked about how fairness is ensured in this sense, the Ministry of Education (MoE) noted that parental income is defined as any income earned during the study year, including any income “parents may have directly or indirectly deprived themselves of.”

“I totally respect people who are able to [work the system],” Lilias said. “[I]f your parents are able to pay you, like, $500 a week, you know, it’s [a]

Why Does My Student Allowance Limit My Personal Income?

Even after students access the allowance, a threshold limits the personal income a student can earn to supplement their allowance payments: up to $227.18 weekly, before tax. Earn anything above that, and the allowance is reduced. Similar thresholds and limits on personal earning exist for most of Aotearoa’s social benefits. $227.18 equates to just over eleven hours on the current minimum wage, but after tax and student loan repayments, that income looks a lot smaller.

The MoE told Salient, “The threshold is designed so that students can undertake some work, but not to the extent that work impacts negatively on their study.” There are no current plans to review these limits.

Teresa Davenport, co-convenor of Greens at Vic, limits her work to between nine and twelve hours a week and it still affects her allowance payments.

“I have had to make significant cuts to my lifestyle and hobbies”, she says. “Especially to my food, I can’t afford anything ‘fancy’, I rarely eat out […] takeaways are more expensive than chilli beans on toast, which is a typical dinner for me.”

With the median weekly rent for a four-bedroom house in Wellington now at $1000, the full allowance payment struggles to capture the realities of living for most students, especially with these limits on personal earning. Teresa wants StudyLink to allow students to earn more money without losing out on allowance: “I’m not asking the government for more money, just to earn more

money because the cost of living is out of control.”

If you don’t live with parents, you can get up to $240.65 in allowance, after tax; however as of 1 April, both student allowance and loan payments increase by $25. The MoE stated that the costs of tertiary education should be “shared”, with students and their families expected to contribute though vacation earnings or part-time work.

There’s also the accommodation benefit: an extra payment that is supposed to make up for variations in market rent across the country. In Wellington, students can receive a further $60, but this benefit is only for those who qualify for a student allowance. What’s stranger is that this accommodation benefit in Wellington is the same as it is in cities like Gisborne, Matamata, and Blenheim, despite the market rent here being a lot higher.

New Zealand’s Union of Student Associations (NZUSA) is campaigning for a universal education income: a payment available to all tertiary students, both undergraduate and postgraduate, that is not means-tested or time-limited like the current student allowance is. In addition to making the payment universal, NZUSA advocates for an additional $100 to student allowance costs to cover basic costs of living.

www.salient.org.nz

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Why Does StudyLink Not Care About Postgraduate Students?

Postgraduate students above honours level are not eligible for student allowance, even after they pass the age threshold of 24 and are considered financially independent from their parents/ caregivers (according to the MoE). If you heard it here first, I’m sorry.

$77,000. Entering into my master’s, I couldn’t bring myself to add to this terrifying number by taking out more loan living costs. In order to keep my loan from cracking $80,000 I’ve had to drop down to part-time study and work two jobs just to sustain my life here.

They say that this policy “reflects the Government’s expectation that parents who can afford to, will provide financial assistance to their children in tertiary study into their mid-20s.”

Other comments from the MoE also indicate that they consider education an asset that will pay off in the future. They say, “The size of a student’s leaving debt is not necessarily an issue if they receive a good return on their education investment.”

At this threshold, if you have moved on to—or returned to—postgraduate-level study above honours level, you still do not qualify for StudyLink student allowance. The MoE’s rationale for this is that postgraduate students are expected to earn more once they enter the workforce.

They continue, “As a result of these higher earnings, the median expected student loan repayment times are shorter for postgraduate borrowers than for other borrowers.” With postgraduate-level loans being repaid one and a half years faster than those of bachelor’s degrees.

While this reasoning checks out in the long-term, it seems like a nonchalant way of dismissing the struggles that postgraduate students go to to make ends meet while they are completing their study.

After four years of racking up the maximum loan living costs, and still having to work part-time just to pay rent, my own student loan sits at around

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Renee Wang, a master’s student at the Victoria University of Wellington, says that no longer qualifying for student allowance has meant having to rely on her parents, as well as working part-time to fund her study.

“I’m lucky enough that that’s an option”, she says. “[I]f someone was in a different situation then they’d have to take a lot longer to [complete their qualification] [...] given than people are already dropping out of Vic Uni because they can’t afford living in Wellington, what do they expect postgrads to do without StudyLink?”

Why Do Students Study Over Summer for StudyLink Payments?

I have enrolled in two courses every Summer break of my tertiary study; three of these courses ended up being superfluous to my graduation requirements. Don’t get me wrong, I love learning for learning’s sake, but for me, enrolling in these courses was not simply due to a curiosity for philosophy or Latin, it was also about ensuring financial stability over the break. I am not the only one who has studied extra courses in order to qualify for the student loan: For many it is simpler to study over the break than it is to find longer work hours or apply for the Job Seeker Support Student Hardship (JSSSH).

The JSSSH is a weekly payment for student jobseekers who are on a break of more than three weeks and who intend to continue to full-time study within sixteen weeks. There are several factors that make it harder to qualify: • If you are a single student, you must have less than $4300 in assets. If you have a partner or child, your combined assets must be less than $7464.

• You must also “be actively looking for full-time work” and be willing to enter into any “suitable employment”.

As with many services offered by StudyLink, depending on your circumstance you may have to prove your family’s lack of financial support and/ or your illness (if you are unable to work) in order to qualify for the JSSSH. This can involve costly doctors’ appointments or that sense of indignity that comes from having to constantly prove your lived experiences (one application question asks you to “please explain how your parents’ financial circumstances affect their ability to support you”).

Many students feel that it is much easier to qualify if you already receive the student allowance (another application question asks, “Why don’t you qualify for a Student Allowance?”). Your benefit is also reduced once you earn over $160.

The issue with the JSSSH and the struggle to fund yourself over the Summer break really comes down to those same three issues found across many areas of StudyLink: the assumption of support that isn’t there, the stressful and time-consuming process with no guarantee of success, and the fact that the amount offered is barely enough to live on, regardless.

When asked about the phenomenon of students undertaking more study over the break to qualify for the student loan, the MoE told Salient, “Students make their own decisions about what and how to study, and how to fund this.”

If you think the JSSSH might be right for you, make sure to get your applications in four weeks before your break in order to get your payments on time.

www.salient.org.nz

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Why Can’t We Print More Money?

Inflation 101 for hot girls

As anyone who’s tried to eat or drive recently knows, being alive is expensive and costs keep rising. Yet given that money can, in the immortal words of Homer Simpson,

Words by Bridget Scott (she/her)

“be exchanged for goods and services,”

Hot Girls across the globe have been asking: Why can’t we just print more of it?

It turns out the answer is inflation.

Inflation refers to a scenario where things cost more, so the same amount of money buys less. Dr Robert Kirkby, a Senior Lecturer of Macroeconomics at the Victoria University of Wellington, explains that these price increases occur when “there is too much money chasing too few goods.” To illustrate this, consider the humble Scrumpy. A 1.25 litre bottle of the classic cider can usually be procured at Cable Car Countdown for $10 at any given time. But during O-Week, thousands of students with limited alcohol knowledge, a strong desire to drink, and Summer job money burning a hole in their pockets, all head towards Countdown at once. However, Countdown can only store a finite amount of cider in Wellington

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CBD and inevitably, won’t have enough for everyone, so responds by raising prices to ensure stocks last.

Normally, these conditions of demand and supply naturally ebb, flow, and come to an equilibrium.

This has largely been the case in Aotearoa since the establishment of the Reserve Bank in 1990.

Described by Dr Kirkby as “the guardians of making sure there’s not too much money”, the Reserve Bank’s primary responsibility is to limit inflation—ensuring that Scrumpy prices don’t increase by more than twenty cents annually.

However, this month Stats NZ announced that inflation has reached its highest rates since the 80’s at a whopping 5.9%—particularly affecting essential costs like rent, fuel, and food.

Types of Inflation

Increase in the number of people who want a product. Businesses increase cost to maintain supply.

Demand Inflation:

Cost push inflation:

The cost of business rises and this cost is passed to customers.

Printing More Money:

Government debt increases, banks make bigger loans on the same security, or simply more money is printed. This increases the amount of money in circulation and decreases the value of money.

www.salient.org.nz

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Inflation is managed through the interest rate, known as the official cash rate, that commercial banks like ANZ, ASB, or Kiwibank pay when borrowing money printed by the Reserve Bank.

When interest rates are low, banks lend more money, charge less interest on debt, and pay out less on savings. The idea is, that when business owners and individuals have easier access, more money flows around the country and the economy keeps moving. For instance, when the manufacturers of Scrumpy can easily borrow money, it’s easier to invest in research or factories or hire more people to increase production—which is probably how Raspberry Scrumpy came to be introduced to the nation in 2012.

It was this logic which caused the Reserve Bank to slash the official cash rate to its lowest ever rate of 0.25% in March 2020. Doomsday scenarios were on the cards for the economy, with horrific levels of unemployment and recession predicted. Which makes sense! If everyone is legally bound to stay home, Scrumpy can neither be manufactured nor purchased with its usual ease. However, Aotearoa’s economy recovered rapidly after both the 2020 and 2021 Level 4 lockdowns and the economic apocalypse never came to be. Instead, cheap, low-interest lending, and massive government spending through vehicles like the wage subsidy, largely succeeded in ensuring the survival of jobs, businesses, and Hot Girls.

The problem is, Dr Kirkby notes, that as economies bounced back from the mass disruption of 2020, it was assumed that the increase in inflation that followed in 2021 was a transitory part of that recovery. By the time banks realised its significance, inflation was already out of control. This has been acknowledged by the Reserve Bank who wrote in a statement at the end of February that “inflation is well above [their] target range.”

The Reserve Bank argues that the causes of inflation are dual and “exacerbated by ongoing supply disruptions” in the global supply chain. While true to some extent, Dr Kirkby suggests that the root of the problem lies with excess money in the economy, following two years of money printing. Particularly as the goods impacted by inflation are known as non-tradables—things like Scrumpy, that are manufactured in Aotearoa and then sold within our borders rather than being exported overseas.

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This has been acknowledged by the Reserve Bank who note that “further removal of monetary policy stimulus is expected over time given the mediumterm outlook for growth […] and the upside risks to inflation.” While the official cash rate was recently increased to its pre-2020 rate of 1%, Aotearoa’s economy is even stronger than prior to the pandemic and further hikes to interest rates are likely to be necessary. Dr Kirkby anticipates that corrections may take two to three years to restore the balance needed for low inflation.

What does this mean for students? As inflation rises, everyday consumers become poorer in real terms.

Those employed in salaried positions are likely to be able to negotiate higher rates to their regularly reviewed salaries. In contrast, students tend to rely on fixed incomes, such as the student allowance, or work in industries where incomes are essentially fixed at minimum wage. This leaves students particularly vulnerable as the price of essentials increases out of budget and out of reach. For Hot Girls, that can mean struggling to afford the basics, while Hot Girl treats—alcohol other than Scrumpy, a bag of bagels, or an oat milk flat white—are no longer justifiable.

While global economic trends wax and wane, a $10 Scrumpy from Cable Car Countdown is forever.

Unfortunately, inflation is “pernicious” and the only option to mitigate risk, according to Dr Kirkby, is awareness. The impacts of inflation aren’t uniform, and affect different sectors at different times.

Through paying attention to variations in the price of goods, consumers can take advantage of trends as they emerge, take advantage of bargains when they arise, and avoid being ripped off where possible. The good news is that when money is worth less, the value of interest-free debt, such as student loans, is eroded in parallel. This means that your student debt is worth less, as dollars across the board are worth less.

This might be bad news for the Hot Girl moneyprinting economists, but while global economic trends wax and wane, a $10 Scrumpy from Cable Car Countdown is forever.

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PARKING NOT INCLUDED Words by Lauren Walker (she/her)

Coupon parks are free for two hours. They exist on the outskirts of the city, lined with dusty-looking 1996 Toyota Corollas wearing roof-racks saved for surfboards. Chipped white paint revealing rusty bones too far gone and expensive to bother fixing.

There are coupon parks on Roxburgh, Majoribanks, Abel Smith, Hopper, Glenmore, and others. I’ve created a mind map of my favourite parking spots in town. A personal favourite: the dotted yellow lines outside an old gothic-looking house on Roxburgh Street which I made into my very own ‘free park.’

Coupon parks cost $12 per day, $200 for a calendar month, and $30 for three months if you have a coupon parking exemption. Inner-city parking is about $4.50 per hour. There you can park your shitty little runaround for a total of two hours before the mysterious disc hidden in the dark, grey slab under your car alerts the seagulls.

Swooping in for a bite, they’ll pinch every last penny your sorry student pocket has been hiding away.

Residents’ parking spaces are everywhere. Don’t park in them. You’ll regret it, especially if your rego is out. Above Glasgow Street, towards Kelburn village there are residents and coupon parks. If you go far enough towards Aro Valley parking will be free. There’s one free park on Fairlie Terrace right before you hit Landcross Street which you’d be lucky to get.

I can’t park in my driveway because the neighbour

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has threatened to tow my car. My landlord has taken two parks and my flatmates pay extra for the others. I can’t get a permit for a residents’ park because I technically live on a lane… the lane has no parking. If you couldn’t tell, I’ve grown wildly obsessive over Wellington’s parking problem.

Basically, I hate parking in Wellington.

But parking isn’t the problem, because if I had an endless, interest-free overdraft then I couldn’t care less about the fees and fines. Because if I really wanted, I could leave my car parked in a coupon park on my street all month and never move it.

Parking is the catalyst to a much bigger problem.

If I had an endless, interest-free overdraft then I couldn’t care less about the fees [...]

Parking is the catalyst to a much bigger problem.

The rising cost of living has made the simple pleasures of life unattainable for many students.

Let’s break down the costs: My rent is $210 per week, plus $15 for expenses. This leaves about $10 left of my student allowance. I work around ten hours per week for minimum wage, equating to about $190 before tax. After tax, with a KiwiSaver contribution of ten percent and a tax code of M SL, my average take-home pay is $148.41. If I subtract $50 from that for a monthly coupon pass, then I’m left with $98.41.

Of my $98.41 left after I’ve paid for parking, rent and utilities, I have to buy groceries. When I calculate my weekly expenses on the New Zealand

www.salient.org.nz

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Immigration cost of living page it calculates that, with an average yearly income of around $28,000 (weekly living costs of $235 plus an average weekly income of $200), I can’t afford to live. It tells me that my average weekly income with a yearly salary of $28,000 is $439.44 per week. I should be living off a minimum of $589.20 each week. Of this $589.20, $117.70 is dedicated to food.

I’m a student in dire straits, living off canned tuna, basic veggies, a loaf of bread, a carton of eggs, and rice each week. With this, we can cut these costs down to about $60. This takes my $589.20 down to $531.50. We’re still above, so let’s cut the costs of transport in half from $72.30 to $30 for petrol, this comes to $489.20. Let’s take healthcare costs of $31.20 to $0 because who needs to see the dentist or a doctor anyway? No need for that as a student, pfft. Now we’re down to $458. We can keep doing this and keep cutting costs. We can keep adding and subtracting. We can keep calculating hours and pay and tossing up how much of what we need, the point is, the numbers don’t add up. Yes, Prime Minister Ardern, this is a cost-of-living crisis.

As a student, I can’t afford to pay for parking. So I have to get up every day early to try and get that one free park between Fairlie and Landcross. The point being, I either have to work more hours and let my grades suffer or move somewhere cheap, damp, and mouldy, and live off frozen veggies and rice. Being a student in Wellington kinda sucks.

It’s not the fact that I can’t find a park, it’s the fact that I have to pay for a park. It’s the fact that my rent is over $220 when my friends in Christchurch pay $130 for a room that is double-glazed, less than five years old, and a fifteen-minute walk from campus. It’s the fact that they can live off their student allowance while I can’t. I can’t stop the thought at the back of my mind that their grades will undoubtedly be better than mine because, while they’ve got free parking, I’ve got a growing mountain of financial stress bringing my surging anxiety into play, keeping me from mental clarity, and sidetracking me from my degree.

As students, we’re living in what seems to be a financial paradox. You can send me to a financial advisor, great, but that’s not going to change my income. You can tell me to invest, you can tell me to stop buying that coffee, but if you’re going to do

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that then please, at least look at yourself. Would you enjoy life if the simple pleasures were no longer within reach?

To put it bluntly, calculating the cost of living right now is fucking stressful. It’s absolutely possible to meet my essential needs on this income, but the student struggle should not be classed as a part of the journey. Being a student should be fun, it should allow you to go out for a coffee with friends, a beer on Friday nights and allow you to pay your subs for winter hockey. Unfortunately, I simply do not believe we can afford to live this way. While the government has slashed twenty-five cents per litre off fuel tax, and public transport costs will be halved for three months, we have to ask: Will this be enough for students at Vic? I have begun to dabble with the thought: Why am I giving up fulltime work to study if it means sacrificing enjoyment?

Students should be able to have a beer on Friday nights and pay for winter hockey.

Unfortunately, I do not believe we can afford to live this way.

National leader Christopher Luxon says, “It’s good that the Government has finally accepted that there is a cost of living crisis in New Zealand. But now they need to address it […] It’s not just petrol prices that are going up. Food prices are up more than 13 percent and weekly rent is up $150.” If I can’t afford to fill up my tank to get to the mountains, if I can’t source affordable veggies to cook a nice meal, and if I can’t find a place to park my goddamned 1996 Toyota Corolla without losing a kidney for the price of it, then what’s the point?

I don’t know about you, but I couldn’t care less about the 4 p.m. Covid-19 announcements anymore. As a matter of fact, I was only reminded that they were still a thing as of last week. If I’m going to indulge in the waffle, I at least want some toppings. Something a bit more refined. Too much sweetness is sickly, and we students have been drowned by it. The maple syrup bottle is empty, Ardern. I want a step by step plan to bring down rental costs. I want in-depth, honest and factual answers. We need something we can see and make sense of, an equation with a simple sum.

Facts don’t lie, nor do my numbers. I’ve done the maths. Wellington, the coolest little capital in the world, is not so cool anymore.

Words by Joseph Slicker (he/him) I don’t carry cash anymore. I get paid by direct debit and I spend using a card. Nowadays, I only receive cash on special occasions; a few bills tucked into a birthday card that I pretend not to notice until I’ve read the message inside. Likewise, I only spend cash on special occasions—mostly on getting tattoos and buying drugs— and my card does fine for everything else.

This state of affairs has led me into a bizarre mindset: When I spend money in cash, it doesn’t feel like I’m really spending money at all. Sure, the few loose notes that have been sitting in my wallet since I got them at Christmas are gone, but the little numbers in my bank app didn’t change, so spending cash doesn’t make me feel guilty the same way that spending money from a card does.

A quick poll of my friends reveals most of them share my feelings, that somehow spending real, tangible, physical cash feels less like spending ‘real’ money than seeing an amount pop up on an EFTPOS machine and reluctantly tapping your card. Maybe three years of Media Studies has just melted my brain, but I find that fascinating.

The mediated form of our currency is widely perceived as somehow ‘more real’ than its tangible equivalent. At least that seems to be the consensus amongst our generation.

The collapse of cash as the go-to mode of spending money has a long history that, if we were real nerds, I’m sure we could follow all the way back to the IOUs issued by European banks during the Late

Middle Ages. If this were an essay I was doing last minute, I might even try to do that just to pad the word count, but for our purposes, it’s enough to say that by the late twenty-tens, internet and mobile banking (primarily through debit and credit cards) already made up a pretty sizable chunk of dayto-day purchases. And then, right at the turn of the decade, something very peculiar happened that suddenly meant that notes being circulated through a long chain of people became… undesirable, to say the least.

I suppose the way I used cash before the pandemic could have been seen as dirty, in a sense, after all, it’s something I only spend on the kind of vices my mum wouldn’t approve of. But the last couple of years have made us all painfully aware that cash is dirty in a very literal sense. The pandemic didn’t single-handedly make computer-mediated transfers of money king—Paywave and its ilk was already poised near the throne—but the virus did accelerate the change. Overnight in Aotearoa, almost no-one was accepting cash. Working in hospo, I loved this shift. It’s well known that we queers can either drive or do maths, and as someone who knows how to parallel park, not having to work out people’s change was a big win.

Of course, I wasn’t the only winner. The biggest winners were, of course, those already on top— suddenly it was imperative that even the smallest businesses have a card machine, and the EFTPOS companies’ sales teams were more than happy to help meet demand. www.salient.org.nz

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Now that’s all great, but transactions require two parties. I rejoiced at the collapse of cash payments because I didn’t have to process them and I still got my paycheck transferred directly into my bank account at the end of the week. The same can’t be said for everyone. There is a vast range of people in Aotearoa whose primary income comes in a cash form. Luckily for the rest of polite society, these people work jobs that we don’t like thinking about anyway. Some because we’re uncomfortable thinking about our reliance on cheap labour. I’m thinking of single mums who clean houses four times as large as their own but that are inhabited by families half the size, or teens too young to be legally employed who work at local restaurants for cash rates far lower than their older colleagues. But there are also other jobs that we choose to forget about not because of our own shame, but because they are seen to be shameful in themselves; drug dealers and sex workers spring to mind. I spoke to my friend Venti* who works at a popular strip club in Wellington, and gets paid out in cash, about their experiences over the course of the pandemic.

Venti told me that over the first lockdown they had the money to survive, in theory. But in reality found nowhere they could spend it as those savings were almost entirely in cash. Explaining why they preferred to keep their savings in cash, Venti generously described the IRD as “not always sex worker friendly.” Bringing that money to the bank wasn’t an option either. To the government, their cash savings didn’t count as income, but depositing it into Venti’s bank account would qualify it as such at the moment of transferral, making them ineligible

for government support, even though they were unable to work because of the pandemic. So, it turns out, it’s not just me that thinks of cash as little more than an original less authentic than its digital copy. Even in the midst of a global pandemic the state itself could only assess issues of income and personal finance through the lens of digital banking.

Covid-19 brought on other changes too. When I asked Venti about ‘funny money,’ the fake dollar bills used in place of real cash in some strip clubs, I was preparing to write another paragraph reflecting on a hierarchy of mediated currencies.

Instead, they brought my attention back to something I mentioned earlier. Money is dirty.

Venti told me that even though workers get to keep 100% of cash tips, they personally preferred the funny money because, “In terms of Covid [...] at least I know it gets cleaned by the club.”

Moving away from the pandemic, if that’s at all possible anymore, the proliferation of mediated currency has also paved the way for a number of new developments. Where digital banking aimed to make the functions of a brick and mortar bank available to anyone, anywhere, a rash of new apps aim to do the same for the stock market. These apps, like Robinhood and Sharesies, targeted a particular type of guy. The kind of guy who thinks that the message of The Wolf of Wall Street is “Wow, Jordan Belfort is really cool!” These apps prey on wannabe hustlers and grinders, promising them a slice of the fortune made (and lost) daily in stock trading halls around the world. Though in reality, they are little more than gambling apps that swap the aesthetics of sports betting for the more refined, but equally masculine, aesthetics of the world of finance.

So money is becoming more and more abstracted from physical cash, adding layer upon layer of mediation, what does all this mean for us?

Economically? Fuck knows! Like I said, I stuck to the humanities because I’m bad at maths.

Socially, though? Well, I still have no idea, but if stock trading apps, cryptocurrency, NFTs, and the amount of people still left behind by the digitisation of money are anything to go by, it’s not gonna be good.

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The Worm and The Blackbird There is the ground and there is the sky, I lie down here and up there you fly.

My life is often seen as dull But darkness isn’t alarming When all you know is its sweet lull. ~ There is the dirt, and there is this blue I fly up here, but to you, the creature below, I must seem so cruel, a wicked thing that merely feeds on you oh what a liberty it would be to talk to you.

- Eva Davis

www.salient.org.nz

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Advice From a Financial Activist Words by Irihapeti Edwards (she/her) and Janhavi Gosavi (she/her) Irihapeti Edwards is a 23-year-old international business consultant and a financial literacy champion. Proudly from Whangarei, she’s of Ngāti Manawa, Ngāpuhi, Ngāti Hikairo, Ngāti Whatua ki Kaipara, Te Arawa, and Ngāti Awa descent.

At the age of 18, she became the youngest person to ever work at Deloitte, one of the ‘big four’ firms in the world. Iri went on to become a Prime Minister’s Scholar and now she travels all around the globe for her work.

Poverty was very prominent throughout Iri’s childhood. She was a welfare baby raised by her great-grandmother, and she tells me that when it came to their finances, her family “was stuck

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operating in survival mode”. Moving past this mindset is part of what motivated her to develop her own financial literacy and seek out a career in finance.

Iri and I have been online friends for two years and I greatly admire her passion for sharing knowledge—no gatekeeping, only girlboss-ing.

I’ve recently found myself wanting to upskill my financial literacy, but consuming the advice of generationally wealthy folks usually makes me feel icky. Iri embodies what it truly means to be ‘self made’ from Aotearoa, so I reached out to her for fiscal advice that was specifically tailored to young people.

Here are her top tips for students wanting to better their personal finances!

Assess your current relationship and mindset with money. Our financial success starts with the way we think about money and all of us have a different ‘money personality.’

Are there any limiting beliefs (e.g “money is the root of all evil”) that are influencing your financial habits? Oftentimes, you’ll find your ideas and perspectives on finance may stem from your childhood and may now be obsolete. Decondition yourself of these beliefs and be open to new ideas and perspectives.

Keep your financial goals easily accessible. This helps a lot with motivation and keeping us cognisant of what really matters (#manifestation). For example, if you want to raise an emergency fund of $5000 (which is a great idea), set aside time to talk with an accountability partner, as well as 15 minutes to journal and reflect on this specific goal, make a vision board, etc.

Allocate your income either weekly, fortnightly, or monthly. This will depend on the person! Iri likes to do 25% savings, 25% investments, 30% needs, and 20% wants. Sometimes, the lines get a little blurry. But you should create a structure that works for you, and ensure that you do not operate outside of those brackets.

Finding other streams of income will also allow you more disposable income.

Track everything. Depending on your personal learning style, having a visual presentation of your personal finances often reveals our financial strengths and weaknesses, especially what financial habits are holding us back. Some banks, including ASB, allow you to track your spending online with a specific tool. Iri uses the app Notion, as well as oldschool Excel, and also recommends Mint of Goodbudget.

Exercise caution with financial obligations. This includes “buy now, pay later” apps and subscriptions. This sounds self-explanatory, however, many third parties exploit vulnerable groups, including students. This tip may require self-control, but if you have other options it is worth it. To help with this, specifically, you can…

Surround yourself with financially-savvy resources. Follow social media accounts or podcasters such as @girlsthatinvest, @realandready, and @whanauwhutures. Try and find ‘locally-sourced’ accounts, as some advice is not always applicable to Aotearoa audiences. Books will always go a long way, and Iri’s personal favourite is Think & Grow Rich by Napoleon Hill.

www.salient.org.nz

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FINDING YOUR VOICE WITH ZOLA FROM Words by Zola Prendeville (she/her) If you were put in front of a microphone with no one around… what would you say, why would you say it, and would you want anyone to listen to it?

Finding out what you want to say and how you want to say it is what I’m figuring out as a 21-yearold and as a solo podcast-host of SheCess.

This year one of my New Year’s resolutions was to find my voice. In the past I found it easy to agree with others’ opinions because they were stronger or held more reason. However, part of finding my voice was figuring out what I wanted to say. And what a great place to do it… on a podcast!

I started SheCess at the beginning of 2021. The thought of creating a podcast terrified me in so many ways. It was not the thought of interviewing strangers that scared me, it was the cringing feeling I got when thinking of sitting in front of a microphone by myself. What could I say? Would I get cancelled? And more importantly, what did I want to say?

One of the biggest learning moments for me was allowing my opinion to evolve. By that I mean I can be adamant that my perception of a certain topic is right for me and aligns with my views at one point in time, but as I grow and evolve so does my opinion. It’s about allowing your opinion to change as the current version of yourself changes.

A big part of finding my voice has been to stop being so judgemental! A dose of tall poppy syndrome as well as being hypercritical of myself has definitely stood in the way of expressing my voice and my personality on my podcast. So far, I have only released interview-style podcasts.

I’ve recorded solo episodes but never released them because of the cringey feeling I got listening back to it. However, this year I have set myself the challenge of releasing SheCess solo sessions.

Which I am so excited and terrified for you to listen to!

I’m writing this not at the other end of the journey but rather in the thick of it. As a second season of SheCess is on the horizon, it feels like a great opportunity to redefine my tone and my approach to hosting.

So, after all that, I think you should join me on my journey of finding my voice, exploring the feminine experience and having more fun on my podcast.

See you on the next episode of SheCess, Xx Zola

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BROADENING HORIZONS: SHOULD I BUY AN NFT? Helping You to Be Better Than Basic Words by Dylan Todd (he/him) You’ve probably seen the buzz surrounding NFTs and you might be thinking, “Yeah, I’ll support an artist, make an investment in cryptocurrency, and have a cool new profile picture on Twitter!”

But there are other ways you could spend the thousands of dollars you’d need to get a foot in the door other than acquiring an algorithmicallygenerated cartoon animal. Let me tell you a few ways you can get those same benefits, without the price tag.

1) Investing in NFTs doesn’t really do what you think it does for artists. Many of those unique, artist-driven NFT platforms actually are a Wild West of art thievery. So, if you’re really considering purchasing NFTs to support artists, you’d have a better time going straight to the source. Whether you’re looking to support the local artist community or casting your eyes abroad, everything you could imagine is already being produced by independent artists. Many artists sell prints and even offer custom commissions to those who want to support their art. This will give you a tangible, real piece of art to show for your financial investment.

2) However, if you’re getting into NFTs solely as a financial investment, I have another fun piece of news for you: the world of NFTs is an unregulated, lawless wasteland that resembles a pyramid scheme, and you’re probably not going to make back that money you paid on that crude

JPEG a year from now. Plus, you’re probably at the very least conscious of the ecological and environmental damage the industry has, so you have to consider the implications of participating in and perpetuating the impacts made on the environment by the blockchain—and don’t forget, carbon-neutral crypto is a scam!

3) If you’re all about the clout and bragging rights of owning an NFT, there are—again—much better ways to show off that you have cool stuff. There’s a lot to see locally—local shops selling independent clothing, like Good as Gold, give you a good chance to spend the disposable income you’d need to buy NFTs on something unique or hard-tocome-by ,which will help you look and feel cool to real people, instead of just a weird assortment of hexagonal-profile-picture-having Twitter users.

4) And lastly, if you don’t really care about the environment, don’t care about artists, and don’t care about anything I might be saying beyond the word money, why stoop to buying NFTs? Go all out and put your nan’s inheritance into some shares in your friendly neighbourhood oil drilling corporation! Or go one step further, pour your money into Raytheon! Arms suppliers are a surefire win, and it only comes at the small cost of potentially assisting in enhancing the scope of nationalist genocide!

Photo: A VUW student’s loan as an NFT www.salient.org.nz

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Manawa Ora is a support service for student wellbeing.

They provide helpful tips, access resources, courses, and workshops. There are also a range of peer support groups and spaces for students available. Manawa Ora has a range of options catered for rainbow students and students with refugee backgrounds.

You can find them in the Student Union building.

Rainbow Resources Saying “being a student is expensive” feels ridiculous at this point because, yes, we know.

We’re very used to the exorbitant rent and the steadily increasing food costs and the fact that public transport still costs way too much even with tertiary discounts. Plus, these are just ordinary costs. What about students with disabilities or dependents? Students requiring identity-affirming support? LGBTQIA+ and Takatāpui students are at far higher risk of homelessness in an already dicey and expensive flatting market, just because they are queer.

Universities are slowly but surely working on providing the necessary support for these situations, but it takes time and, of course, it’s hard to spread awareness about the services available.

So, let’s make some support services known: A week ago, the Rainbow Room (SU209) was blessed and formally opened. The room is the result of a collaboration between staff and students from UniQ, VUWSA, Rainbow Law, Clubs, and Manawa

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Ora. It exists as a space for queer and questioning students to seek community and find a safe location for study, relaxation, and support. As a bookable space, it is available for use by all LGBTQIA+ and Takatāpui students at Te Herenga Waka, regardless of whether they are part of any service or university club.

Our Rainbow and Inclusion Adviser (and resident university-employed queer) Liam (any/all), is just across the hall in SU201. Liam is available to meet with and connect students with appropriate and queer-friendly services, both in the university, and the wider Te Whanganui a Tara region.

If you have any questions or queeries relating to being queer or questioning, and you’re at the university, drop Liam at line at liam.bloomfield@ vuw.ac.nz, or pop by and see him in the office (SU201) he shares with the Refugee Background Adviser, Kodrean.

$50 Vegan Grocery Haul Words by Aria Ngarimu (she/her; Ngāti Porou, Ngāti Kahungunu, and Rongomaiwahine) Groceries are expensive.

And when you are trying to do your part for the environment while *also* trying to get enough protein each day while *also* trying to cook meals that prove to your flatmates or family that plant-based meals are appealing… you might be concerned for your wallet.

Item

Price

Pams Fresh Tomatoes 700g

$2.49

Fairtrade Bananas 850g

$3.49

A balanced, nutritious meal plan is never going to be cheap. But this article will show that with $50 a week, you can stock your cupboards with plant-based foods that you can make into delicious budget-friendly meals.

Note that this list will only be effective if you have basic ingredients at home. If you haven’t spent your course-related costs on takeaways and alcohol, dedicate a little money to build up a pantry of staple items such as rice, oil, flour, and seasonings.

Doing this will significantly expand your meal options.

Pams Bagged Spinach and Kale Salad $3.99 Value Wheatmeal Toast Bread 600g

$1.39

Pams Wholegrain Tortillas 6pk

$2.99

Pams Lite Canola Spread 500g

$1.79

Vitasoy Unsweetened Oat Milk

$3.19

Value Mixed Vegetables (Frozen) 1kg $2.39 Value Crinkle Cut Oven Fries 1kg

$1.99

Pams Broad Beans 500g

$2.09

Pams Plant-based Falafel Burger Patties 4pk Pams Rolled Oats 750g

$5.79

Pams Mild Chilli Beans

$2.09

Trident Light Coconut Cream 165ml

$1.39

Bean Supreme Organic Plain Tofu 300g Pams in Brine Chickpeas 400g x2

$3.99

Heinz Seriously Good Vegan Mayo 270g Value Dry Penne Pasta 500g

$4.89

Total Cost

$49.81

$2.39

$2.18

There are plenty of options—it just takes some planning and thought. Here are three quick tips to save money on groceries: 1. Sign up for a free loyalty card at your grocery store to get discounts and rewards.

2. Look for specials and buy in-season produce— sometimes this means branching out and trying new things!

3. Utilise the VUWSA services. They offer a Community Pantry, free bread at Kelburn, the VUWSA Fruit and Vege Market, as well as the Victoria Fruit and Vege Co-op.

Just do your best with what you have. Kia kaha koutou!

$1.29

www.salient.org.nz

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Pasifika Student Council Remittances and the Pacific Remittances are transferred funds between individuals across borders. It’s performed by some of the 272 million immigrants across the globe, sending a total of $589 billion back home in 2021.

Cash wrapped in love.

Dilip Ratha, an economist specialising in migration and remittances, describes remittances as “the hidden forces”’ of the global economy, larger than foreign direct investment (FDI) and foreign aid combined. In fact, remittance to the Pacific is three times the amount of foreign development aid into the regions. This speaks to the power of how we continue to care for our aiga, giving more support than we’ve ever received internationally.

Covid-19 unsurprisingly exacerbated global economic instability. Once economies began to ‘bounce back’ with consumer spending and returns to production, migrants across the world followed suit and returned to work. The significance of this?

While FDI fell 30% in 2020, remittances increased by 1.7% and to 7.9% in 2021. Why? Because FDI is motivated by profit margins, whereas remittance is founded on workers looking to support their families. So even in a recession, remittance continued to flow.

The attachment of fees to transfers means there is a measurable cost for remitting. Transaction fees and foreign exchange market rates allow for profit to be made off of immigrants supporting their families. $200 in wages with a transaction fee of 5% takes $10 off the money sent back home. And that’s not counting exchange rate changes.

The impact of this is massive. According to RNZ, Aotearoa’s “recognised seasonal employer workers paid about $400 a season [each] in remittance transaction fees.” Historically, the Pacific has some of the highest transaction and foreign exchange rate fees in the world, while also having the highest dependencies on remittances for their economies. A predatory trend which has slowly declined due to increasing awareness over the years.

Remittances are a demonstration of agency, as we thrive in the environment other countries’

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governments assert upon us. We know of the exploitation of migrants, stripped of their rights and support networks (the Dawn Raids have not been forgotten), imported and then despised, but miraculously always maintaining their greater purpose. The incredible courage to seek a life for yourself elsewhere, with determination to enrich your families. There’s no bigger motivator than family, and we have great influence with the work we do for one another, flowing into our communities & home nation.

In Nov 2021, The Reserve Bank stated their intentions to improve the financial inclusion of Pacific Nations through strengthening institutions which facilitate remittance payments, due to difficulty accessing banking services throughout the regions. This interest was also due to the acceleration of cryptocurrency throughout the region. Both cash and crypto are classified as ‘informal’ flows of cash—as they are unregulated, unaccounted for, and not taxed. Expanding financial inclusion across the region would incorporate both formal and informal inflows of capital into a securitised method of movement from Aotearoa to the Pacific, creating a greater understanding of the influence these remittances have had on the nation.

Remittance originates not from desire to profit, but from resilience of character. Migrants across the globe continue to persist in these difficult times and to provide for one another, as we know and as we always have done. An economic marvel. But anyone who cares could tell you: This is just what families do for one another. We’ve never forgotten home.

FRIENDS

@splendid.nz 85 Ghuznee St, Te Aro, Wellington www.splendid.nz

Word of the Week: Money Te Reo Māori: Pūtea or Moni New Zealand Sign Language:

LAST WEEKS ANSWERS

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SODUKU

CROSSWORD: CURRENCY

ACROSS

DOWN

2. Slang for Canadian dollar

1. Spanish word for money

3. Surname of protagonist in A Christmas Carol by Dickens

4. Currency of Malaysia

8. Five pennies

6. Richest person in NZ (6,4)

11. Country where ‘Crazy Rich Asians’ is set 13. Country that first used paper money 14. Fake money 16. Monetary dishonesty 18. Down-payment 20. Number of zeros in one trillion 21. Economic/political system based on individual profit 22. Band that performed ‘Money for Nothing’ (4,7) 23. Digital currency

5. Avoiding tax 7. 2013 film about finance (4,2,4,6) 9. Bean used as primary Aztec currency 10. Currency of South Africa 12. In for a penny, in for a …

15. Greek God of Wealth 17. North American word for money note 19. Steal money that you are tasked with looking after 24. Receptacle for holding gold at the end of a rainbow

25. Negotiate price www.salient.org.nz

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Aries The new moon in Aries means there’s plenty of fun to be had.

Expect a good weekend and, whatever it is you plan on doing, make sure you drink a lot of water.

Cancer It’s work time, baby. Stop putting off writing that C.V. Stop telling yourself you’ll “get around to applying.” This is the week for job applications because, believe me, everyone’s tired of lending you money.

Libra I know you’re feeling impatient but do not rush yourself. I repeat: DO NOT RUSH. You have time, you have the ability, and nothing’s going anywhere. Just breathe with me now...

Capricorn Try not to argue too much with your siblings, even though they are really damn annoying. If you’re an only child, I’m sorry, but it’s probably you giving off the annoying sibling energy to others.

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Taurus Stop stressing the small stuff and working yourself up over the unimportant things. Whatever’s been bothering you is not that deep. Breathe, relax, and keep an open mind.

Gemini Your chart ruler Mercury has finally moved out of its place of detriment, so a speedy recovery from that uncharacteristic brain fog you’ve been experiencing lately is on its way.

Leo

Virgo

Stop waiting, stop delaying, stop procrastinating. Whatever you’ve been scheming, just do it already.

The stars don’t even care what it is, they just want your actions to align with your thoughts.

A lot of support from others is available to you right now.

Whether it’s finding a study buddy, venting to your best friend, or asking mum to borrow money; your people are here for you.

Scorpio

Sagittarius

Scorpio, we know you’ve been having it a little rough recently.

Here is a promise that the worst has passed and you won’t have to rely so heavily on distraction. It’s okay to have guiltless fun.

Aquarius You won’t stop breathing if you go without attention for five minutes.

You don’t need to be worshipped to experience joy. I smell god complex. Does anyone know if Kanye’s an Aquarius?

Umm, okay, being a homebody is one thing, but never seeing the light of day is another. Get outside and fight that Netflix addiction. If my mum were here, she’d say your eyes have gone square.

Pisces Honestly, you’re overthinking it, whatever ‘it’ is. Be kind to yourself Pisces.

THE SALIENT TEAM YOU CAN THANK THESE PEOPLE FOR YOUR WEEKLY FIX.

Editor Janhavi Gosavi

News Editor Beth Mountford

News Editor Azaria Howell

Designer Alice Brown

Chief Reporter Ethan Manera

Sub-Editor Lily Holloway

Features Editor Ronia Ibrahim

Staff Writer Bridget Scott

Staff Writer Maia Ingoe

Staff Writer Zoe Mills

CENTREFOLD ARTIST

This week’s amazing centrefold is brought to you by Mariyam: Instagram: @mariiiy4

Social Media Manager Seren Ashmore

Podcast Manager Francesca Pietkiewicz

Cileme Venkateswar

Website Manager Annalise Scott

Contact Us features@salient.org.nz poetry@salient.org.nz editor@salient.org.nz designer@salient.org.nz chiefreporter@salient.org.nz news@salient.org.nz

CONTRIBUTORS

Sophia Willis

Mika Hervel

Joseph Slicker

Aria Ngarimu

Lauren Walker

Elisapeta Dawson

Puck

Amelia Foster

Dylan Todd

Irihapeti Edwards

Zola Prendeville

Eva Davis

Niamh Vaughn www.salient.org.nz

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Reckon you’ve got the gift of the gab? Salient Magazine is looking for contributors!

We’re particularly interested in pitches for news stories, feature articles, reviews, culture pieces. Send a pitch to editor@salient.org.nz.

Are visual arts more your thing?

Get in touch with designer@salient.org.nz to see how you could contribute photography, illustrations, and centerfolds to the magazine.

Applications to be our Te Ao Māori Editor close Tuesday 5 April!

8hrs/week and paid a living wage.

We are looking for a Māori student to come join our staff as our Te Ao Māori Editor. You will regularly pitch and write articles (e.g. feature articles, news, reviews) and you will also screen other writers’ work for cultural appropriateness.

The ideal candidate will be a proficient writer, and have a thorough understanding of te ao Māori, te reo Māori, and tikanga. Previous experience in journalism is desirable, but not required.

To apply: send a CV, Cover Letter, and a writing portfolio of up to 3 pieces to editor@salient.org.nz by Tuesday 5 April.