Calculations

[Cole]

I was wondering whether anyone could provide some guidelines on the following:

My husband and I are trying to figure out the Rands and cents of a move at the moment, and besides the cost of moving like containers, flights etc, we're trying to figure out how many months' living expenses to save for if we go over on PR without work. I understand that living costs vary in region and lifestyle plays a part, so some practical tips on working out the numbers would be greatly appreciated.

Say you get PR and decide to pack up and leave (family of 4, where 2 children are under 5).

You head to Oz with no job so you don't know how long you may remain unemployed. How do you calculate how much money to save up and take, or how many months' living expenses to save, to tide you over until you get a job? In this example, you would have no friends or family who's couches you could sleep on, or cars you could lend, so you'd be spending money for all living expenses.

I've heard the job market is a bit tough for engineering at the moment, so am under the assumption that it will take a little while to find our feet and get a job. Also, I've heard some stories of having to offer a few months' rent in advance in order to secure a rental, so if that also has to be taken into account, how do you do the sums to figure out how much is enough, and how many months' expenses would be practical to save for, before taking the leap?

[RDD]

Hi Weddingtog.

I did a calculation for two of us to move over, have the same standard of life as here (incl home necessities, Gym, ADSL, Public Transport, rent, rental deposit, insurance, cell phones, medical aid, DSTV equivalent, every grocery toiletry and detergent we buy now, rates and taxes, etc) in Sydney with an average weekly rental of $700 (which is towards the higher end) for a period of 6 months - therefore a worst case scenario, and it came up to around $42k (R390k).

Hope this helps.

[RedPanda]

Hi RDD,

I basically have the same question, but assuming that the "family" is only a young couple, and living in Melbourne looking at about half that weekly rent, and willing to forgo some things like gym, DSTV and just about any form of paid entertainment... then we'll probably be able to stretch that amount over a few more months? Do you think it'll reach 9 or there abouts?

I know money matters are always a "how long is a piece of string" kind of thing, but we are planning a trip that is very much one-way-only, so we want to try to be sure that we will be able to survive until we find work. [Hubby is a statistical analyst,who will have 3 years experience working here by that time.(I know, SA xp, but at least the software seems to be rather international) And I'll be looking for my first engineering job, electrical] So I think it would be prudent to hope for the best but plan for the worst when it comes to estimating the time it might take to find work for either of us.

I've read that we should get our CVs in an acceptable format(and that opinions vary on what is acceptable), and that we should find volunteer work as soon as we possibly can.

But so, bottom line: R500k as a goal amount to take over, excluding container costs. Would this be enough for two people to stay afloat for 9 months or a little more?

Edited May 11, 2015 by RedPanda

[RDD]

Hi RedPanda

Based on my calculations - keeping everything as I have it for my wife and I (which includes DSTV, gym, entertainment, Domestic help 3 hours a day twice a week, etc.) but changing rent to $350 per week (calc includes deposit) it came to $55k for 12 months. So if you don't include DSTV, entertaiment, gym, etc, then in my opinion you should be able to survive for at least 9 - 12 months.

I would suggest building an excel spreadsheet for monthly living costs which includes every item you buy on a monthly basis now in SA, including food, detergents, toiletries, all utilities, rates and taxes, insurances, gym, entertainment and other costs etc. You can look for most of this information on the internet - woolworths (diff to SA) or Coles for home/food costs; Australian cost of living websites (use google) for costs of insurances, private medical aid, transport (Myki Pass), rates and taxes, etc; Bunnings, Myfurniturestore, thegoodguys for furniture, etc. This way you can get some comfort of how much you should be taking over to survive for a certain amount of time while you look for jobs. Remember to include the weekly rent and rental deposit (1 months rent) in your calculation as this makes up majority of your monthly costs - stating the obvious, you can always survive for longer if you rent for cheaper.

Remember that my calculation is based on my own assumptions and research, so please dont take it as gospel truth. I am sure there are some forumites who currently live in australia that can give you some more giudence.

However I hope this helps and gives you a bit more confidence.

[monsta]

Hey Guys,

I recommend this site a lot on the forum, but its truley useful.

Http://peoplelikeu.com.au

Just go there and fill in your details as if you live in the suburb you plan to move to. It will tell you what the average living costs are. Its real anonymous data from a bank.

Then factor in that you will be living in temporary accommodation. That means your rental could easily be 2x the normal for that area. Also make sure the area you select actually has a few temporary rental options. For example, in Sydney you may select Penrith as its cheaper. But you are unlikely to find temporary rentals so far out if the tourist areas.

As for how long. Most peeps here will tell you that you should get a job within 3 months. But there are always stories of people for whom it took a lot longer. For example, a someone may wait 6 months to get a job because the work they do is mostly done out of a different city.

Oh and don't forget. From the time you get a job, you might only start at the beginning of the following month and get paid towards the end of that month.

Edited May 11, 2015 by monsta

[RDD]

Thanks Monsta

That will be helpful.

Also nice to know that it usually takes approx 3 months to get a job.

We are both CA's working in Banking so hopefully we will not be one of "those stories".

[Cole]

Gosh thanks so much for the feedback everyone, it's really good to see that the general job search is around 3 months, I was worried it would be more. Thanks so much for the info on calculations, that has really helped us a lot!

[RDD]

Gosh thanks so much for the feedback everyone, it's really good to see that the general job search is around 3 months, I was worried it would be more. Thanks so much for the info on calculations, that has really helped us a lot!

Any time Weddingtog.

Hope it all works out.

[RedPanda]

Thanks for the information, the link and the vote of confidence. It definitely does feel a bit better to know that someone else has also "worked out the problem" and what their answer was. I think then we should be just fine.

This is such an exciting time. I'm really glad we could move before we have any kids or pets. I think it just makes things easier, and probably a little bit cheaper too.

Thanks for the advice guys, and yes you I know you each run a tiny invisible disclaimer.