How much is enough???

[ryno]

Hi there Guys and gals

I was just wondering: How much money is enough to get by in Aus? We have an average lifestyle (dont eat fillets every night) and does not go out a lot anymore, since our first baby is only 7 weeks old now. (so we are a family of 3)

We are relocating to Newcastle end March 2008, and we are still deciding whether mommy must go and work or stay at home with baby. (Although I think she will never sit at home for too long).

My salary will be in the region of $5500-00 pm.

1) Will this be enough to get us a good lifestyle?

2) Will I be able to afford 2 x $25000-00 vehicles?

3) How much does renting an average house (3 beds) go for in Newcastle?

Any information regarding lifestyle (cost of living) in Newcastle will be appreciated.

Regards

Ryno

[Nilo]

Hallo Ryno

You'll need at least $1000 a week to live comfortably but obviously the more the better.

I would say 2 x $25000 is a little steap don't you? One of $25 000 and another little run about in good condition for $5000 or a new Getz $13 000 will be good for your wife and pocket.

To see how much houses are Google rentals or property and you'll be amazed how much info there is.

Hope this helps a little.

Nilo

[Martinp]

Hi there Guys and gals

I was just wondering: How much money is enough to get by in Aus? We have an average lifestyle (dont eat fillets every night) and does not go out a lot anymore, since our first baby is only 7 weeks old now. (so we are a family of 3)

We are relocating to Newcastle end March 2008, and we are still deciding whether mommy must go and work or stay at home with baby. (Although I think she will never sit at home for too long).

My salary will be in the region of $5500-00 pm.

1) Will this be enough to get us a good lifestyle?

2) Will I be able to afford 2 x $25000-00 vehicles?

3) How much does renting an average house (3 beds) go for in Newcastle?

Any information regarding lifestyle (cost of living) in Newcastle will be appreciated.

Regards

Ryno

Is that before or after tax, I presume after tax?

[ryno]

Is that before or after tax, I presume after tax?

Martinp,

That is before tax.

Nilo, thanx for that, I was googling the car market in aus and see that you can pick up a snazzy "new" little car for VERY cheap. Will def consider this...

Ryno

[Nilo]

Ryno,

Ons het jou salaris deur 4.2 gedeel om weekliks te kry dan is dit so $1390 na tax sal dit baie na aan 'n 1000 wees.

Ons het vir ons 'n pragtige Jeep Cherokee gekoop vir $19000 2004 model met 63 000 op die klok. Tweede handse voertuie is gewoonlik goed opgepas en baie redelik geprys.

Groete

Nilo

[Martinp]

Martinp,

That is before tax.

Nilo, thanx for that, I was googling the car market in aus and see that you can pick up a snazzy "new" little car for VERY cheap. Will def consider this...

Ryno

Should be fine then Ryno as far as I have seen on the forum.

[Guest Bronwyn]

Hi Ryno

You will be pleasantly surprised at the car prices here. Most of us look for houses to rent on Real Estate.com. Here is the link to the Newcastle rentals. Happy hunting!

http://www.realestate.com.au/cgi-bin/rsear...cat=&p=10&o=def

Bronwyn

[WouterG]

Would 120K per annum be a good salary ?

Roughly 6K per month. Would that work in Melbourne ?

[slingshot]

Would 120K per annum be a good salary ?

Roughly 6K per month. Would that work in Melbourne ?

Wouter,

Ek sien jy bly in Weltevreden Park. Afhangende hoeveel afhanklikes en watter leefstyl jy wil volg sal jy "weltevrede" wees met so 'n pakket.

Go for it!

[WouterG]

Family of 4

one 3 year old and one 8 year old

[Springbok]

Would 120K per annum be a good salary ?

Roughly 6K per month. Would that work in Melbourne ?

Assuming $120k p/a is gross, you'll take home roughly $7k p/m, or $1,615 per week. That's a great salary, but I'm not sure whether that's enough for a family of 4 in Melbourne...

Maybe think of it this way: as it's common for life in the bigger Australian cities to be twice as expensive as in South Africa, ask yourself whether you would be able to survive on the equivalent of HALF of $120k p/a in South Africa? i.e. $120,000 / 2 x 6 = R360,000 p/a - does this amount currently work for you in S.A.? That should give you an approximate answer. Obviously depends whether you buy or rent a home, what kind of car you buy, etc.

[Mupersan]

Assuming $120k p/a is gross, you'll take home roughly $7k p/m, or $1,615 per week. That's a great salary, but I'm not sure whether that's enough for a family of 4 in Melbourne...

Maybe think of it this way: as it's common for life in the bigger Australian cities to be twice as expensive as in South Africa, ask yourself whether you would be able to survive on the equivalent of HALF of $120k p/a in South Africa? i.e. $120,000 / 2 x 6 = R360,000 p/a - does this amount currently work for you in S.A.? That should give you an approximate answer. Obviously depends whether you buy or rent a home, what kind of car you buy, etc.

Your calculations dont look correct, I have a breakdown of my own, and at $55000, I would get $5100 out, I think that the best bet would be to let someone on oz work it out Ie your future employer.

Nilo, thanks for the input, however, if I am over on a 457, would I be able to finance a car.?

[WouterG]

We will rent and buy small car cash when we get there.

We also want to rent a bit out of the city

R360K works currently ;-)

I am scared we get there and have to scrape to get by. we dont live in the lap of luxury now but we live comfortably.

[WouterG]

Your calculations dont look correct, I have a breakdown of my own, and at $55000, I would get $5100 out, I think that the best bet would be to let someone on oz work it out Ie your future employer.

Nilo, thanks for the input, however, if I am over on a 457, would I be able to finance a car.?

That doesn't look right.

$55000

- first $25000

tax on first $25000 = $2850

tax on remaining $30000 = $9000

Total tax = $11850

Remaining $43150

Per month $3595

Roughly !!!

Edited November 20, 2007 by Wouter

[Nilo]

Mupersan - Yes you will be able to get a loan on a vehicle, you will just have to pay if off in the time of your contract.

i.e. If your contract is for 2 years you'll have 2 years to pay the car off in.

Remember everyone, have a look at buying a car at Auction!!! Good, no, great bargains!!! And you can get finance.

Wouter - $120 000 is a very good salary! You'll do fine!!!

Edited November 20, 2007 by Nilo

[Bob]

$55 000 or $125 000 a year.

Is it enough?

The answer:

You make it do.

The big picture is that you're only just starting out in Australia, you're getting on your feet, you're finding out what works and what doesn't work here.

Whatever income you bring in, you make it do.

Life is as simple as that!

If you can afford steak four times a week on your income, you eat steak four times a week.

If you can only afford bread and dripping, you eat bread and dripping until you dig over the vegetable patch, plant some veggies and eat them instead.

The essential thing is that are in Australia . . . . and can start to plan, start to build dreams that you never would have had back home, start to have freedom you haven't seen since you were children.

Later on, everything will come together for those who work for it.

Later on, you look around for a better rental, a better paying job, a better car, a better lifestyle.

You have to be flexible and take whatever comes for the first twelve / twenty-four months.

No-one said it would be easy at first. Don't expect it.

If it is, you will be pleasantly surprised, but don't expect it so. That way, you won't be disappointed.

Edited November 21, 2007 by Bob

[Johnsons]

I like your reply Bob, that's the exact mindset we're using when landing in Australia, irrespective of city/town..

[Duane W]

Like Bob says you make it work.

I was earning 45k and was living comfortably. I just got a job at around R60k and I expect to be better off.

Have a decent car buy a house in a reasonable area etc.

Fortunately I am in a position to supplement my income if need be.

For my lifestyle 120k is a load of money

[Gizmo]

Well put Bob!!!

Being able to eat steak at all is not one of my priorities for getting out of SA!

I am going because I believe that my daugher will have a better future there than here.

We will make do, not matter how!

[Navigator]

I also agree, if you're willing to make it work, then your salary in Aus will be enough. You might not have an extravagant lifestyle initially, but do not lose sight of why you left South Africa in the first place. I think South Africans in general are very spoiled. Some people now have to get used to do something for themselves in Australia, there's no more maid or garden boy to look after you, no more car guard to help healthy young individuals pack their parcels into their own car, or show you how to reverse out of a parking spot, nobody to fill your car for you (yippee - because they spill fuel onto your car in any case). I think it is time that South Africans learn to do things themselves instead of always wanting to pay someone next to nothing to do it for them.

Edited November 23, 2007 by RenierPret

[Aramat]

I second your sentiments ReinerPret!

[loksie]

Would 120K per annum be a good salary ?

Roughly 6K per month. Would that work in Melbourne ?

Hi

$115000 per jaar gee jou $2500 elke 2 weke (tax en super en medies is afgetrek)

daarmee kan jy gemaklik $300 per week vir huur betaal, $500 `n week vir petrol, groceries etc betaal, en al die ander goed koop. Ons het foxtel, internet, karpaaiement ($15000 skuld = $420 per maand)

So moenie worry nie, Ons 2 lewe gemaklik daarmee en spaar tot $1000 elke maand!

Geniet dit

[MelG]

Here is a link to current tax for individuals:

http://www.ato.gov.au/individuals/content....nu=5053&mfp=001

[OTherapist]

Where are the accountants when we need them!! I would interested in hearing about the cost of living in Perth, as compared with other cities? Bob, you DO have the right attitude. There are ways to save money and make it work. We live in the Silicon Valley, California USA and the cost of living is sky high. Food is very cheap though, so I can't complain about that. We spend roughly USD$500 per month on food for 2 people. We are both vegetarian and some of our special products do cost quite a bit. My husband is interviewing for a few positions (ph interviews) and we are trying to get a ball park figure of the cost of living. Any info would be most appreciated.

[dotnerd]

Im really loving the topic guys :-)

It pretty much answered most of my questions eithe rint he Original post or in the first 5 replies, thanks for that/

I have also made the decission to come to AUS, but im taking my time on it and getting my amployer to get me there, as there is great need for what i do. If i have to believe certain recruitment websites with regards to salary indications i should be fine as there state that people in my profession should earn anything between 135k and 180k /annum.

Thanks the lord that i stuck to my education and turned professional at a very young age.

Anyways, i guess youll be seeing me aorund here more often :-)