melbourne Posted August 18, 2015 Share Posted August 18, 2015 Hi guys This is the best place I could think to ask this question. I live in South Africa and am looking to make a new career move that until recently I thought would take me to Aus, but I've now seriously started to think about looking at the UK as a prospect. All the cultural/experience considerations aside, from a financial point of view, and all things being equal (single guy renting a bachelor/studio flat not far from work, with no pets) which of these would allow me to save more of my monthly salary: - GBP 70k living in London city - AUD 150k living in Melbourne CBD I'd be looking to send a good portion of savings back to SA every month, so: The Pound is currently R20.23. The Australia Dollar is currently R9.45 After tax, I've worked out that I'd have: - GBP 3900 per month - AUD 8000 per month Depending on how far I can stretch this income, I'd like to be saving a minimum of: - GBP 2000 per month - Or, to have the same value in Aus terms, AUD 4000 per month The questions then are: - Is GBP 1900 going to do more/less for me in living costs than AUD 4000 (covering rent, basics, tel/electricity/bus, groceries etc) - Which would allow me the better opportunity to save even more. In other words, if unexpected things crop up like a burst geyser or doctor's visit, would I be in a better position to cover it with GBP 1900 or AUD 4000? P.S. There are some extra benefits to choosing the UK over and above the 20:1 exchange rate, starting with timezone similar to South Africa, the quick(er) trips to SA and family to visit me, and the fact that I love the UK more with every return visit. On the other hand, my mom has a PR Aus visa with me, so would be able to join me in Aus and we wouldn't have to send any money back home (but would still need to take care of some debt), however she doesn't really want to move at all, but would if it meant us being better off financially, though it would cost us about R250k to make the move to include belongings, travel and pets. On the UK side of things, I'd want to work towards citizenship in the next 5 years and then evaluate whether it makes sense to move back to SA or bring mom over to Ireland so that she could get EU citizenship and then move back to UK -- if the UK ends up relaxing parental visa requirements by then, I'd be thrilled to just have her join me in the UK, of course. So there are swings and roundabouts to consider, but I'm trying to evaluate this from a financial perspective first and take things from there. P.P.S. Thanks to whoever gets this far down in the post and decides to respond. I really appreciate it. Link to comment Share on other sites More sharing options...
Guest Posted August 18, 2015 Share Posted August 18, 2015 The rule of thumb is cost of living is 2.2 x more ($ to £) in Australia so that would suggest you are marginally better off in London but it's not quite as simple as that, housing in London is particularly expensive - the median house price in May was £612,622, whereas in Melbourne it is $668,030 so if you were planning to buy a property you would definitely be better off in Melbourne. From what you say you would be renting - the average rent in London is £1500, I can't find the average rent in Melbourne but a one bed apartment in the City Centre would be about $1800 a month. You might find this interesting http://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=United+Kingdom&country2=Australia&city1=London&city2=Melbourne Upshot is I think you would probably be financially better off in Melbourne but there are lots of other factors to consider and most people find that really it is about the same, the difference comes from what you can earn in each place - government employees, e.g. nurses, teachers etc. seem to earn more in Australia, as do construction workers. Professionals in business seem to earn the same or less - we were certainly financially worse off in Australia but we live in Scotland not London! Have you considered other parts of the UK? It's much more affordable elsewhere and I find working in Edinburgh I can pretty much command the same salary as London. Link to comment Share on other sites More sharing options...
Perthbum Posted August 18, 2015 Share Posted August 18, 2015 where are you living in S.A? Link to comment Share on other sites More sharing options...
Chortlepuss Posted August 18, 2015 Share Posted August 18, 2015 I think you'd have a great time in either city - both have a lot to offer. LR gives some great advice. Explore non London options for the UK - Cardiff/Bristol for instance have a lot of jobs. Edinburgh is lovely. London has great earning potential but high cost (and a lot of expensive distractions - which makes it so great of course!). Don't forget - it's not all about the money - you have to enjoy life as well so if it's about equal, why not go where your heart leads you? Link to comment Share on other sites More sharing options...
Guest Posted August 18, 2015 Share Posted August 18, 2015 I've realised that link doesn't work - go to http://www.numbeo.com/cost-of-living/comparison.jsp and put the cities in yourself. I've just this for my own location in the UK and Perth and it's not surprising we felt the pinch, especially as our salaries were lower! 'You would need around 6,724.32A$ (3,144.70£) in Perth to maintain the same standard of life that you can have with 2,200.00£' Link to comment Share on other sites More sharing options...
Guest51810 Posted August 18, 2015 Share Posted August 18, 2015 Can't help with the info side of things but just wanted to say good luck and I'm sure you'll be happy in either place Link to comment Share on other sites More sharing options...
melbourne Posted August 19, 2015 Author Share Posted August 19, 2015 The rule of thumb is cost of living is 2.2 x more ($ to £) in Australia so that would suggest you are marginally better off in London but it's not quite as simple as that, housing in London is particularly expensive - the median house price in May was £612,622, whereas in Melbourne it is $668,030 so if you were planning to buy a property you would definitely be better off in Melbourne. From what you say you would be renting - the average rent in London is £1500, I can't find the average rent in Melbourne but a one bed apartment in the City Centre would be about $1800 a month. You might find this interesting http://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=United+Kingdom&country2=Australia&city1=London&city2=Melbourne Upshot is I think you would probably be financially better off in Melbourne but there are lots of other factors to consider and most people find that really it is about the same, the difference comes from what you can earn in each place - government employees, e.g. nurses, teachers etc. seem to earn more in Australia, as do construction workers. Professionals in business seem to earn the same or less - we were certainly financially worse off in Australia but we live in Scotland not London! Have you considered other parts of the UK? It's much more affordable elsewhere and I find working in Edinburgh I can pretty much command the same salary as London. Hi LR! Thanks for your reply. Wow, a studio apartment in London is going to cost me 1500 per month? That's a huge eye-opener - I didn't think it would be anywhere near this. Will definitely consider looking at living costs outside of London to see what's possible. I think you'd have a great time in either city - both have a lot to offer. LR gives some great advice. Explore non London options for the UK - Cardiff/Bristol for instance have a lot of jobs. Edinburgh is lovely. London has great earning potential but high cost (and a lot of expensive distractions - which makes it so great of course!). Don't forget - it's not all about the money - you have to enjoy life as well so if it's about equal, why not go where your heart leads you? Your last line is what keeps drawing me to the UK. And I think you're absolutely right. I've realised that link doesn't work - go to http://www.numbeo.com/cost-of-living/comparison.jsp and put the cities in yourself. I've just this for my own location in the UK and Perth and it's not surprising we felt the pinch, especially as our salaries were lower! 'You would need around 6,724.32A$ (3,144.70£) in Perth to maintain the same standard of life that you can have with 2,200.00£' That's very, very helpful. Thanks for the link! Can't help with the info side of things but just wanted to say good luck and I'm sure you'll be happy in either place Thanks so much Stacey Link to comment Share on other sites More sharing options...
Guest51810 Posted August 19, 2015 Share Posted August 19, 2015 You're welcome! Link to comment Share on other sites More sharing options...
Bungo Posted August 19, 2015 Share Posted August 19, 2015 - GBP 70k living in London city - AUD 150k living in Melbourne CBD These really are much of a muchness financially, as are the take home amounts you mentioned. There are a range of properties to rent in both cities for various budgets, but overall, I cant see there being much in it. So to conclude, I don't think you would particularly boost savings by choosing one city over the other and you could accordingly make your choice on other factors. Link to comment Share on other sites More sharing options...
Guest Posted August 19, 2015 Share Posted August 19, 2015 Of course lots of people work in London but don't live there - I did for 13 years, Essex has some much more affordable places to live and people travel from Milton Keynes, Peterborough even Portsmouth. A bit of a soulless existence in my experience but if it's about making/saving money it's possible - I used to live in Southend and I've just checked, the median rent there a month is £776 - of course you then get to travel to London on what is affectionately known as the 'Misery Line' We moved from there to Brentwood which is only a 20 minute journey to Liverpool Street Station - median rent is £1,148 pcm but a one-bed would be much cheaper - boring as hell mind, as are most of the so-called dormitory towns. Places like Bristol/Cardiff/Edinburgh where you could live and work would be a higher quality of life (& far less travel costs - just checked and a season ticket these days from Southend to London is £4,604.00 so it wipes out some of the property savings - not to mention the £150 taxi fares when you miss the last train & yes I've done it!) Link to comment Share on other sites More sharing options...
Guest51810 Posted August 19, 2015 Share Posted August 19, 2015 We used to live in carshalton when I was little and my dad commuted. Go to Edinburgh, we are much friendlier up here :laugh: Link to comment Share on other sites More sharing options...
Guest Posted August 19, 2015 Share Posted August 19, 2015 We used to live in carshalton when I was little and my dad commuted. Go to Edinburgh, we are much friendlier up here :laugh: Edinburgh itself is not much cheaper than London - nicer people of course :laugh: but not as nice as Glasgow! Link to comment Share on other sites More sharing options...
Guest Posted August 19, 2015 Share Posted August 19, 2015 We used to live in carshalton when I was little and my dad commuted. Go to Edinburgh, we are much friendlier up here :laugh: Hang on does that mean you are actually English????? Carshalton is a typical London commute, about 50 mins. Link to comment Share on other sites More sharing options...
Guest51810 Posted August 19, 2015 Share Posted August 19, 2015 I love Glasgow but to people outside Scotland i don't think it's usually their first choice so easier to use Edinburgh lol. I didn't realise it was almost as expensive as London though Link to comment Share on other sites More sharing options...
Guest51810 Posted August 19, 2015 Share Posted August 19, 2015 Hang on does that mean you are actually English????? Carshalton is a typical London commute, about 50 mins. 30 mins to Victoria :wink: No I was born in Scotland but I had a proper strong English accent apparently lol. I wish there was a recording of it Link to comment Share on other sites More sharing options...
Guest Posted August 19, 2015 Share Posted August 19, 2015 I love Glasgow but to people outside Scotland i don't think it's usually their first choice so easier to use Edinburgh lol. I didn't realise it was almost as expensive as London though Maybe I'm wrong - just looked on that comparison site and London is way more expensive - rent 60% lower in Edinburgh - it must just be the places in Edinburgh i'd like to live! Link to comment Share on other sites More sharing options...
Guest Posted August 19, 2015 Share Posted August 19, 2015 What is it you do Mr. @melbourne? That makes a big difference to where work will be - I do IT in the Financial Sector so Edinburgh is as good as London workwise for me. Link to comment Share on other sites More sharing options...
Guest51810 Posted August 19, 2015 Share Posted August 19, 2015 Maybe I'm wrong - just looked on that comparison site and London is way more expensive - rent 60% lower in Edinburgh - it must just be the places in Edinburgh i'd like to live! yep you snob lol :tongue: only joking. I would love to live in Edinburgh but wouldn't be able to buy there alone Link to comment Share on other sites More sharing options...
melbourne Posted August 19, 2015 Author Share Posted August 19, 2015 Thanks for the lively chatter going on here, guys I'm in digital marketing, so London central has loads of jobs, but haven't specifically looked at areas outside - and now have a new set of things to think about! Link to comment Share on other sites More sharing options...
Jhouse101 Posted August 19, 2015 Share Posted August 19, 2015 A decent one bed all in is at least £1500 pcm in London (Zone 3 - so about 20 mins into the city on the tube). Salaries will be alot lower than London but Cardiff is an amazing city (the best on earth in fact but i'm biased as i'm welsh!). You can get a decent one bed right in the city centre for around £800 pcm. I'll definately be moving there after i'm done in Sydney! Link to comment Share on other sites More sharing options...
Guest51810 Posted August 19, 2015 Share Posted August 19, 2015 Thanks for the lively chatter going on here, guys I'm in digital marketing, so London central has loads of jobs, but haven't specifically looked at areas outside - and now have a new set of things to think about! sorry me and lady rainicorn are a pair of budgies!! Hope you manage to decide, least you have quite a lot of options Link to comment Share on other sites More sharing options...
supercow Posted August 20, 2015 Share Posted August 20, 2015 We used to live in carshalton when I was little and my dad commuted. Go to Edinburgh, we are much friendlier up here :laugh: Carshalton is one of the most horrible places I've ever lived. It's the reason I literally fled London, into the countryside! @melbourne , start contracting, plenty of work in the digital agencies in London (I work/have worked with a lot of them). If life's all about money for you, then that's where it's at. Link to comment Share on other sites More sharing options...
Guest51810 Posted August 20, 2015 Share Posted August 20, 2015 Haha well I don't remember it other than my mums cousins house and that they owned a pub. My mum said it had nice bits but some bits were really rough. My mum got homesick and most of my dads wages was going on housing so they moved back to Scotland Link to comment Share on other sites More sharing options...
melbourne Posted August 20, 2015 Author Share Posted August 20, 2015 @melbourne , start contracting, plenty of work in the digital agencies in London (I work/have worked with a lot of them). If life's all about money for you, then that's where it's at. I'm working on it, SC It's not all about money, but at this point it's at the top of the list. The reason this move is based on financials first is because we just aren't coming out on my salary, which is a senior management salary in SA and far higher than most people earn. And we aren't extravagant. And we can either go deeper and deeper into debt, or I need to earn more. There is a ceiling here for me, because jobs that pay more here are few and far between, and when they do crop up (2-3 a month that I could apply for), I've been told that they're looking for non-white candidates only (a process called Black Economic Empowerment here, or affirmative action). I don't have a problem with the concept, but it does practically mean that I can't earn more as an individual. The only way for me to earn more is to change the currency I'm earning in and move to an environment where I have many more opportunities (and future growth opportunities) based on experience and expertise. So ... the adventure begins! Link to comment Share on other sites More sharing options...
supercow Posted August 21, 2015 Share Posted August 21, 2015 I'm working on it, SC It's not all about money, but at this point it's at the top of the list. The reason this move is based on financials first is because we just aren't coming out on my salary, which is a senior management salary in SA and far higher than most people earn. And we aren't extravagant. And we can either go deeper and deeper into debt, or I need to earn more. There is a ceiling here for me, because jobs that pay more here are few and far between, and when they do crop up (2-3 a month that I could apply for), I've been told that they're looking for non-white candidates only (a process called Black Economic Empowerment here, or affirmative action). I don't have a problem with the concept, but it does practically mean that I can't earn more as an individual. The only way for me to earn more is to change the currency I'm earning in and move to an environment where I have many more opportunities (and future growth opportunities) based on experience and expertise. So ... the adventure begins! "We"... thought you were single ? Ja boet, it's the reason I've not gone back, but I guess our priorities are different. I'm earning fistfuls of money for not an awful lot of effort (not showing off, it's just the way it is) ... but I'm just not a European / Northern Hemisphere boy at heart, ultimately the reason I'm on these very forums Link to comment Share on other sites More sharing options...
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