RNB31 Posted June 23, 2013 Share Posted June 23, 2013 Hi, Looking at the cost of living in Melbourne suburbs for me and my wife plus a baby. I have spent a bit of time looking in costs of living and think I am nearly there with the below, can anyone advise? Our set up would be renting a 3 bed house somewhere like point cook, with me working full time, my wife working 2 days a week and our kid in nursery 2 days a week. Running 1 car at the moment and buying the cars outright i.e no loan I have not taken any child benefit or rebate into account as this can be an extra So just a run down again...This is based on monthly outgoings to live a fairly ok lifestyle in a 3 bed house at $400 a week, family of 2 plus baby working 1 x full time and 1 x part time Please let me know if something is too high, too low or if I've missed anything Rent $1,733 ($400 a week) Water $70 Elec $93 Gas $50 Foxtel $60 Broadband/phone $60 Food & Toiletries $1,000 Rates $0 Life Insurance $75 Mobile x 2 $120 Car Payment $0 (bought for cash) Home Insurance $60 Health Insurance $40 Child Care $650 (2 days a week at at $75 a day) Travel Fares $170 (traveling point cook to city) Car Maintence/INS/Road Tax $200 (1 car) Money for work $150 Fuel $200 Cash $800 (this is spending for all of us a month on activities, clothes, going out, day trips, hair cuts...your everyday stuff) Savings (whatever remains at the end of the month) Link to comment Share on other sites More sharing options...
dmjg Posted June 23, 2013 Share Posted June 23, 2013 These are our numbers http://www.pomsinoz.com/forum/money-finance/173796-our-budget-worksheet-victoria.html Link to comment Share on other sites More sharing options...
RNB31 Posted June 23, 2013 Author Share Posted June 23, 2013 Hey, Thanks for that, so helpful. If you dont mind me asking what is your daily rate for nursery before anything is taken off for one child are you about $75 a day or more like $100? Just looking over it briefly just now the figures appear there abouts and you said you have already deducted the child rebate and benefit....one thing that seems way off on mines then is you have private health insurance at $230 a month and I have it at $40... not sure how I have gone so wrong? Link to comment Share on other sites More sharing options...
leanda Posted June 23, 2013 Share Posted June 23, 2013 I live in point cook and before any rebate is deducted the daycare rate where my son goes is $94 a day. Just a tip, get your child's name down now. There is massive waiting lists on child care in point cook. I know at mine there is over a 6 month waiting list for both the baby and toddler rooms and I know that most others are similar even for a couple of days. Link to comment Share on other sites More sharing options...
gwolst77 Posted June 23, 2013 Share Posted June 23, 2013 Hi, Looking at the cost of living in Melbourne suburbs for me and my wife plus a baby. I have spent a bit of time looking in costs of living and think I am nearly there with the below, can anyone advise? Our set up would be renting a 3 bed house somewhere like point cook, with me working full time, my wife working 2 days a week and our kid in nursery 2 days a week. Running 1 car at the moment and buying the cars outright i.e no loan I have not taken any child benefit or rebate into account as this can be an extra So just a run down again...This is based on monthly outgoings to live a fairly ok lifestyle in a 3 bed house at $400 a week, family of 2 plus baby working 1 x full time and 1 x part time Please let me know if something is too high, too low or if I've missed anything Rent $1,733 ($400 a week) Water $70 Elec $93 Gas $50 Foxtel $60 Broadband/phone $60 Food & Toiletries $1,000 Rates $0 Life Insurance $75 Mobile x 2 $120 Car Payment $0 (bought for cash) Home Insurance $60 Health Insurance $40 Child Care $650 (2 days a week at at $75 a day) Travel Fares $170 (traveling point cook to city) Car Maintence/INS/Road Tax $200 (1 car) Money for work $150 Fuel $200 Cash $800 (this is spending for all of us a month on activities, clothes, going out, day trips, hair cuts...your everyday stuff) Savings (whatever remains at the end of the month) Hi family of four (two young kids under 5) I have put down my figures next to yours (plus comments) for a new 4 bed single story house in Point Cook. I have one large american fridge 3 TV's (plus all the usual home entertainment stuff) I work from home 3 days a week so my home server and laptops are always running. Rent $1,733 ($400 a week) - $1620 Water $70 - $100 per quarter Elec $93 - $150 this month $125 last month (we purchased a tumble dryer last month which probably explains the increase) Gas $50 - $130 per month at the moment but approx £30 per month in the non winter months Foxtel $60 - $120 (2 x HD subscriptions all channels but no movies or sports) Broadband/phone $60 -$110 (100MB fibre optic 500GB cap plus net phone with iiNet) Food& Toiletries $1,000 (this is about right, but I would budget $1200 for the first few months whilst you learn where to shop and especially if buying nappies and restocking of toiletries) Rates $0 LifeInsurance $75 - I have a policy which work pays for Mobilex 2 $120 $80 (Telstra for a new smart phone and for a similar call plan to UK £40 per month call plan) CarPayment $0 (bought for cash) HomeInsurance $60 - this is about right HealthInsurance $40 -$167 per month (you are way out) ChildCare $650 (2 days a week at $75 a day) - Probably better budgeting for $90 per day TravelFares $170 (traveling point cook to city) - MiKi is capped at around $11 a day if you are using public transport, parking in the city will be around $15- $20 a day CarMaintence/INS/Road Tax $200 (1 car) - I can't comment as I salary package my car so everything is included Moneyfor work $150 -Save cash and take a packed lunch Fuel $200 - I would budget $250 to be safe Cash $800 (this is spending for all of us a month on activities, clothes, going out,day trips, hair cuts...your everyday stuff) Savings(whatever remains at the end of the month) - Whilst that looks good on paper $800 does not go as far as £800 in the UK does. It is probably the same as having £400 - £450 left over for the month, can you afford to do all of the above for £400? Regarding energy prices Electricity can fluctuate between $125 - $180 in the summer depending on air con use etc. My gas bills have been non-existent till this month which was $250 for approx 70 days use (dual fuel customer so I get my gas bill every 2nd month alongside my electric) as the weather turned in May and we have had the heating on. Since October my gas bills have been approx $30 per month, all the new builds have solar panels fitted so your hot water is covered by that. If you budget say $200 per month for electric and $100 per month for gas (over the course of 12 months) you should not have any surprises you will probably find that this will cover you water charges for the year as well Link to comment Share on other sites More sharing options...
Alicia3 Posted June 23, 2013 Share Posted June 23, 2013 What a horrible way to live..All these calculations for everything..I couldnt live like that..Its depressing. Link to comment Share on other sites More sharing options...
Alicia3 Posted June 23, 2013 Share Posted June 23, 2013 What a horrible way to live..All these calculations for everything..I couldnt live like that..Its depressing. And the cost of living is increasing monthly..So what relevance do your calculations have? Australia is very,very expensive.. Im on the verge of getting out because of this.. Link to comment Share on other sites More sharing options...
dmjg Posted June 23, 2013 Share Posted June 23, 2013 Hey, Thanks for that, so helpful. If you dont mind me asking what is your daily rate for nursery before anything is taken off for one child are you about $75 a day or more like $100? Just looking over it briefly just now the figures appear there abouts and you said you have already deducted the child rebate and benefit....one thing that seems way off on mines then is you have private health insurance at $230 a month and I have it at $40... not sure how I have gone so wrong? $100 per grommet per day. Link to comment Share on other sites More sharing options...
Wellers and Whitehead Posted June 23, 2013 Share Posted June 23, 2013 Hey, Thanks for that, so helpful. If you dont mind me asking what is your daily rate for nursery before anything is taken off for one child are you about $75 a day or more like $100? Just looking over it briefly just now the figures appear there abouts and you said you have already deducted the child rebate and benefit....one thing that seems way off on mines then is you have private health insurance at $230 a month and I have it at $40... not sure how I have gone so wrong? $40 is about right for ambulance cover for the year..maybe that's what you looked at?? Link to comment Share on other sites More sharing options...
dmjg Posted June 23, 2013 Share Posted June 23, 2013 What a horrible way to live..All these calculations for everything..I couldnt live like that..Its depressing. And I have responsibilities to ensure my family can survive. I would be depressed if we lost it all because I made silly decisions and we couldn't service that debt. From that post you sound like someone who has no responsibilities for anything. Link to comment Share on other sites More sharing options...
dmjg Posted June 23, 2013 Share Posted June 23, 2013 And the cost of living is increasing monthly..So what relevance do your calculations have? Australia is very,very expensive.. Im on the verge of gettingout because of this.. Bye Link to comment Share on other sites More sharing options...
RNB31 Posted June 23, 2013 Author Share Posted June 23, 2013 Leanda – Thanks for the info and heads up, I had read about the waiting lists so great to actually hear it form someone thanks again. Wellers and whitehead -I may have got this mixed up will need to look into it again Dmjg – Thanks for the fee cost so by the sounds of it I need to increase this too $90-100. Also well said in regards to the other posts comments, sadly we have to work these things out especially when kids are involved. Gwolst77 – thanks for your figures, and info. I seem to be not far off…well apart from the health insurance. I take it that is a family of 4 cover? Basically what I am aiming with our jobs is my wife to work 2 days a week about $25 an hour and I am aiming for $75k a year + super, working it out on a online tax calculator that would bring us in a joint income of $6129 not including and child care rebate or benefit that would be extra So out of interest what is the going rate for health care for 2 adults and a baby? Link to comment Share on other sites More sharing options...
buzzy--bee Posted June 24, 2013 Share Posted June 24, 2013 My 2 cents. Take what you earn in £ now. Multiply it by 2.5. If you will be on wages of less than that, then you will have a lower standard of living than you did in the UK. So for instance, if you currently earn £40,000, you will need to earn AU$100,000 to be able to buy the same stuff. BB Link to comment Share on other sites More sharing options...
matjones Posted June 24, 2013 Share Posted June 24, 2013 Just looking over it briefly just now the figures appear there abouts and you said you have already deducted the child rebate and benefit....one thing that seems way off on mines then is you have private health insurance at $230 a month and I have it at $40... not sure how I have gone so wrong? We pay approx $240/m for health insurance for 2 people. Maybe you were looking at the rates for single people per week. Link to comment Share on other sites More sharing options...
Wellers and Whitehead Posted June 24, 2013 Share Posted June 24, 2013 My 2 cents. Take what you earn in £ now. Multiply it by 2.5. If you will be on wages of less than that, then you will have a lower standard of living than you did in the UK. So for instance, if you currently earn £40,000, you will need to earn AU$100,000 to be able to buy the same stuff. BB Spot on! Link to comment Share on other sites More sharing options...
RNB31 Posted June 26, 2013 Author Share Posted June 26, 2013 Thanks for the replies and info, I'd also agree with the 2.5 guide Link to comment Share on other sites More sharing options...
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