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dmjg

Our Budget Worksheet for Victoria

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This is the excel document we use to work out whether we are going to survive the current year.

 

Figures correct as of now, Jan 2013.

 

There is obviously a bit of give and take for our numbers as i try to go a little bit higher if possible than what we actually spend. Things like insurance, rates, fees, childcare etc are bang on.

 

The mortgage is correct for 8%, rates are currently 6% ish with one of the big 4, but it gives us an inforced saving in the mortgage we can access if we want to fix something in the house or have a holiday. Currently its about $2000 per month on a repayment mortgage.

 

There are notes on each line.

 

Both cars are paid off.

 

Oh works 2 days per week therefore kids are in childcare those two days. Childcare figure is with CCR and CCB removed already. We get back a few hundred dollars at the end of the year for over payment. We get no other family tax benefits.

 

Cells highlighted are the ones that when changed, automatically update all other columns and totals. These can be changed as needed.

 

Not sure what else needs explaining. Any questions please ask, and hope it helps.

 

Dan

 

accounts for victoria.xls

accounts for victoria.xls

Edited by dmjg
It did attach!

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Thanks Dan - that's a great help!


CDR Sub. 16.04.11 +ve Outcome 11.08.11 IELTS L8.5/R9/W8.5/S9 VIC SS Sub. 15.10.11 VIC SS App. 21.11.11 176 Sub. 25.04.12 CO 01.05.12 MEDS 09.06.12 PCC's 19.06.12 VISA GRANT 28.06.12 FLIGHTS BOOKED - 02.06.13!!!

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Just wanted to say thanks for sharing this with PIO, very informative. I take it with the family allowances that you are a PR, rather than a 457?


Citizen of the world, wherever I lay my hat, etc

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Just wanted to say thanks for sharing this with PIO, very informative. I take it with the family allowances that you are a PR, rather than a 457?

 

Dual citizens

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Great informative post. It completely underlines the big ticket costs that constantly eat away at after tax pay.

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Thanks. This was just what I was looking for. Up to date and for Victoria. We are looking at moving to Melbourne. My wife and I, her daughter and husband and 4 year old and my wife's son. I used rough figures from ausiemove.com which were for Perth and a year old, I came to roughly the same amount. We may not need a 2nd car, depending on rail links to CBD for work, but may need to pay more for a house as we are all thinking of moving in together initially until we find our feet. I have a couple of questions on this subject though.

 

Do immigrants on a temp visa (457) need to pay for state schools and if so how much and when does that stop, on residency or citizenship?

 

What were the rates worked out on, NAV? How does NAV relate to current market value?

 

You've not got any life or critical illness cover, don't you need that for the mortgage?

 

Anyone that can offer any further information, jump aboard.

 

Cheers.

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Rates worked out on property value, x cents per dollar. What's NAV?

 

I have Life insurance paid through my super. Bank never asked about that, if we default, they get the house, if I'm not insured, it's my problem, not theirs.

 

I shudder to think how I could survive with that many people in one house.:chatterbox:

 

I would think, even with public transport that it would be better to get two smaller cars than one big one. It offers more flexibility and independence.

 

No idea about temp visas and school fees. Except for oh who got immediate PR the rest have been citizens since birth.

Edited by dmjg
Added last line

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Thanks for the replies. NAV is the valuation of the house, but from what I gather at a set point in time, like when they valued all houses in UK for council tax. I read that it was 3.9c/$ but that seems far too high, maybe it should have read 0.39c/$.

 

I will check out details about super life cover then and see what top up options are available. Don't want to lose the house if cant work though accident or illness or fatality.

 

Sorry when I said 1 car, I meant between my wife and I. And possibly another between our daughter and husband, then a 3rd for our son. As we are quite rural in UK, we all have cars because the train links are rubbish. None of us have ever lived anywhere near a city.

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NAV is the valuation of the house,

 

I will check out details about super life cover then and see what top up options are available. Don't want to lose the house if cant work though accident or illness or fatality.

 

 

Rates notices claims I'm paying $160 municipal charge plus 0.18565 cents in the $ on CIV. Capital improvement value of house and land, valued 1/1/12. So I guess this happens yearly.

 

Life and serious illness cover paid through super is effectively paid tax free, although it does take away from retirement funds. I guess it's robbing Peter to pay Paul, but I'm on the happy side of 40 still so ho hum. I can choose the payout amount in $100,000 increments, the premiums will go up or down accordingly.

 

Then there is income protection insurance. I was quoted about $2000 to get 80% of my wage. Not got around to that yet....

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thanks for this would be interested to gauge how much the electric would be if you didn’t have solar panels


OH submitted ACS 261111 ICT Business Analyst 19/02/2013 Positive assessment 26/04/2013 - EOI 189 submitted 26/04/2013 (will have to wait as ceiling reached)

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Hi, very helpful thank you as now weighing up if we can afford to move to OZ or not. I am a teacher and would be the the main visa applicant and would move with my husband and three children aged 7, 5 and 3. Do you get any family allowances/money if you move on a permanent visa? If so how much per month. Thanks.

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Hi, very helpful thank you as now weighing up if we can afford to move to OZ or not. I am a teacher and would be the the main visa applicant and would move with my husband and three children aged 7, 5 and 3. Do you get any family allowances/money if you move on a permanent visa? If so how much per month. Thanks.

 

I can't answer that, but you could go thought the minefield that is centrelink. When you do go into centrelink, go without kids, take every piece of official paper you have ever been issued with and enough supplies for a long day in queues.

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Hi, very helpful thank you as now weighing up if we can afford to move to OZ or not. I am a teacher and would be the the main visa applicant and would move with my husband and three children aged 7, 5 and 3. Do you get any family allowances/money if you move on a permanent visa? If so how much per month. Thanks.

 

Regarding family allowances, you will be assessed on your income what your child tax benefit (or something like that) is. You'd need the search online for a calculator. If your kids are child care age you will get a 50% rebate on the cost. Generally speaking it's $80 a day per kid and you end up paying $40.

 

You are entitled to medicare with a permanent visa so you can go to the doctors for free at Medical Centres and get referred through to public hospitals if need be, so pretty much like NHS.

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thanks for this would be interested to gauge how much the electric would be if you didn’t have solar panels

Ours is $600-$700 quarter for an average 3 bed lounge/family room house We are retired though so spend a lot of time at home

Sons house which is 4 bed ,huge and pool was $1800 last quarter !

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Rates notices claims I'm paying $160 municipal charge plus 0.18565 cents in the $ on CIV. Capital improvement value of house and land, valued 1/1/12. So I guess this happens yearly.

 

Life and serious illness cover paid through super is effectively paid tax free, although it does take away from retirement funds. I guess it's robbing Peter to pay Paul, but I'm on the happy side of 40 still so ho hum. I can choose the payout amount in $100,000 increments, the premiums will go up or down accordingly.

 

Then there is income protection insurance. I was quoted about $2000 to get 80% of my wage. Not got around to that yet....

If you get insurance for income protection try to get one that is not cancelable Many years ago hubby claimed for 2 weeks off for his back -they paid but next renewal refused to cover him for his back he was a bricklayer so the back was likely to go ( or so they said )

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Guest Thebutler
I can't answer that, but you could go thought the minefield that is centrelink. When you do go into centrelink, go without kids, take every piece of official paper you have ever been issued with and enough supplies for a long day in queues.

 

hi dmjg, does your price estimates for monthly power, water, gas bill include the winter months where you crank up the heater ? and also the aircon in the summer ? thnx !

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hi dmjg, does your price estimates for monthly power, water, gas bill include the winter months where you crank up the heater ? and also the aircon in the summer ? thnx !

 

Yep all included,

 

$60 per two months in summer for gas, then upto $300 per two months in winter. Gas central heating. I tell the family to put on a jumper inside and turn it down during the day and off during the night.

 

We rarely use the aircon but have the evaporative cooler running in summer. It only uses 700 Watts (20 cents / hour), aircon uses 7000 Watts ($2/hour!)

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Hi. Bit of a bump of thread here, but a couple of questions.

 

Here in UK, my wife has had her own pension for years because she had her own career before semi retiring to look after her grandson so we kept up the payments from my sole income. Similarly she has her own life and critical illness cover so that if she dies or can't look after our grandson, the mortgage is paid off so if I need to give up work or change my job to look after our grandson I can do so without having to pay the mortgage.

 

We would have a similar arrangement in Australia in that although the little lad is 4 now so will be going to school full time next year, he still needs picking up from school and looking after until his Mum or Dad get home. So heaven forbid, should the worst happen do I need to budget for separate individual (personal) policies for my wife's pension and life cover or can my super from my work cover it or have it added at extra cost?

 

Cheers people.

 

Stephen

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Guest guest48800

This is great Dan,

thank you so much for sharing, really helpful.

cheers,

Emma.

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Hi. Bit of a bump of thread here, but a couple of questions.

 

Here in UK, my wife has had her own pension for years because she had her own career before semi retiring to look after her grandson so we kept up the payments from my sole income. Similarly she has her own life and critical illness cover so that if she dies or can't look after our grandson, the mortgage is paid off so if I need to give up work or change my job to look after our grandson I can do so without having to pay the mortgage.

 

We would have a similar arrangement in Australia in that although the little lad is 4 now so will be going to school full time next year, he still needs picking up from school and looking after until his Mum or Dad get home. So heaven forbid, should the worst happen do I need to budget for separate individual (personal) policies for my wife's pension and life cover or can my super from my work cover it or have it added at extra cost?

 

Cheers people.

 

Stephen

 

I wish my parents were as accommodating. I hope your offspring know how lucky they are.

 

Schools over here do before and after school clubs for a small fee and close around 6 ish. The local one here is run by Camp Australia. You can claim half the costs back I think as part of the CCR. They also do holiday program's. Our local childcare also does a schoolies run. They take the kids in any time before school, feed them, run them to school and pick them up at the end of the day, take them back to the nursery feed again and parents pick up from there. It's about $45 dollars per day I think. Also uses CCR. So 50% of out of pocket expenses back to you.

 

Not heard of being able to add spouse to individual super life policies. A search of Vicsuper, Cbus or Australian Super may give these answers.

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Thank you so much for all this info!

I have my 2nd stage interview in 2 days for a job that would take us to Melbourne, and my hubby and I have been struggling to find enough information to work out if the move is a viable option for us... This has been a massive help!

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Hi Dan just wanted to say thanks for all the info really helpful as trying to sort out finances before applying for Cpv


143 lodged 28/4/15 acknowledged 30/4/15 further docs. Requested 28/11/17.

medicals and UK/AUS police checks completed. AOS forms lodged at Centrelink 6/12/17

AOS paid 5/3/17 letter taken to Centrelink and sent to DIBP 6/3/17. ?

Request for 2nd Vac . Flight booked for Bali to meet 600 visa requirements.

2nd vac paid 3/4/18

Visa granted 13/4/18 

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This is the excel document we use to work out whether we are going to survive the current year.

 

Figures correct as of now, Jan 2013.

 

There is obviously a bit of give and take for our numbers as i try to go a little bit higher if possible than what we actually spend. Things like insurance, rates, fees, childcare etc are bang on.

 

The mortgage is correct for 8%, rates are currently 6% ish with one of the big 4, but it gives us an inforced saving in the mortgage we can access if we want to fix something in the house or have a holiday. Currently its about $2000 per month on a repayment mortgage.

 

There are notes on each line.

 

Both cars are paid off.

 

Oh works 2 days per week therefore kids are in childcare those two days. Childcare figure is with CCR and CCB removed already. We get back a few hundred dollars at the end of the year for over payment. We get no other family tax benefits.

 

Cells highlighted are the ones that when changed, automatically update all other columns and totals. These can be changed as needed.

 

Not sure what else needs explaining. Any questions please ask, and hope it helps.

 

Dan

 

[ATTACH]17968[/ATTACH]

 

 

The likes of you makes me physically sick DM,so organised:mad:,whats up with yer ffs:no:

Clicked your file thing,:nah:not opening that!,no point,give a monkey a clock:twitcy:

 

Awwwww i tell yer

"THE world extreme how to make a muddle through type of person feel bad competition"

Representing Victoria,in the Blue corner........

 

Nah,i wish i was organised tbh,but i just cant seem to do it ,wtf why cant i?!!!!:arghh::wubclub:


"The problem with neo conservative capitalism and it's insatiable greed for more wealth and disparity amongst the populace,is that it ended up being the catalyst for the great depression and modern recession"

 

Me,tonight:wubclub:

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