People who are able to budget well on low incomes are quite happy.
That's according to research about financial wellbeing which finds it's not how much money you have but what you do with it that's important.
More than 40 percent of people with a combined household income of just $30,000 report finding this level of income to be adequate, according to the Wealth and Wellbeing in New Zealand report, which was funded by insurer Sovereign.
New Zealanders living comfortably within their means on their present income were 11.8 times more likely to be in the top wellbeing group than those finding it very difficult on present income, even after adjusting for total household income.
Professor Grant Schofield of AUT's Human Potential Centre says there's a correlation between being able to budget and improved levels of wellbeing.
"Of course, income still plays an important role in determining overall wellbeing. However, the research is showing effective money management, whether you're earning a little or a lot, can influence high levels of wellbeing."