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djianb

$150k basic salaries enough

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Posted (edited)

I know this question will have been asked a lot however... me and my girlfriend are moving out to Melbourne and will have $150,000 per annum as basic salaries split into 90 / 60 plus we both work in recruitment so have the opportunity to earn commission.

 

ive worked the following out;

$600 food shopping

$800 per week rent 

$400/500 utilities 

$250 Health insurance 

$320 Train a month - both

 

Mobile phones are paid through work including personal calls so won’t need mobiles. 

Leaving around $5000 a month to live off etc.. does that seem reasonable?

 

 

Edited by djianb

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Also we will have circa $14000 in savings aswell.

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It really depends on your lifestyle and existing debt you have.

your income should be plenty for most couples, but if you fancy a nice place to rent and eat out each week, then your savings will be less indeed. Also leave some for entertainment, like movies, hanging out with friends, buying clothes etc.

never dig into savings to live, it should be increasing over time.


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We have no debt as have cleared it all so the $5.5k is for essentially entertainment purposes on a monthly basis.

Didn’t Know whether the $5.5k sounded like a reasonable amount of disposable income 

we work in recruitment so will be adding to the savings with commission.

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No broadband? No car? No other insurances (contents)? No holidays? No clothes? No medical expenses?  Food is probably a bit on the low side given what we spent on food this past month whilst on holiday.

You'll probably be ok.

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Posted (edited)
On 04/05/2019 at 01:33, djianb said:

Leaving around $5000 a month to live off etc.. does that seem reasonable?

Have a look at Numbeo as you can compare your present city and its cost of loving and get a breakdown of where you want to live...

Its hard to determine whats "ok" for another individual... 

We used to struggle on  £55k combined annually in the UK... 

 

We are more than ok on just my $110k basic here (Melbourne)... all the additinal income from OH is going into a mortgage savings pot... we have more luxuries than we've ever had with two kids under 6.

 

But that doesnt mean I can speak to your needs

 

Edited by SWMOY04
Grammar

Melbourne... ahhhhhh😊

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appreciate that and it is very much how long is a piece of string. It was more to see if everyone was going to be replying that’s no where near enough etc etc but none so far so feel better about it. 

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On 04/05/2019 at 01:33, djianb said:

I know this question will have been asked a lot however... me and my girlfriend are moving out to Melbourne and will have $150,000 per annum as basic salaries split into 90 / 60 plus we both work in recruitment so have the opportunity to earn commission.

 

ive worked the following out;

$600 food shopping

$800 per week rent 

$400/500 utilities 

$250 Health insurance 

$320 Train a month - both

 

Mobile phones are paid through work including personal calls so won’t need mobiles. 

Leaving around $5000 a month to live off etc.. does that seem reasonable?

 

 

Depends on your lifestyle.  You won't need that much for train as weekly train passes that cover Zones 1 and 2 are around $45 a month, unless you're travelling in from regional Vic.  

You shoudn't be touching your savings for living expenses.

Will you not have a car (and associated costs)?

Need to factor in contents insurance on your rental place as well, as landlords will only cover buildings and it's normally part of a tenancy agreement to have insurance.

Food estimate seems a little low, particularly if that $600/month is covering eating out and takeaways as well.

 

 


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Thought for a monthly Myki it was about $150 and it’s got 2 ppl so c$300?

 

no car or associated costs 

 

that’s just for groceries not eating out that’ll come from the surplus money.

realistically looking at 50% of our wages is available to spend on entertainment and towards savings 

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That's a fair bit above the average salary for Melbourne and if there's just the 2 of you I reckon you'll have a ball. You can do an awful lot free in Aus 

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On 09/05/2019 at 15:18, djianb said:

Thought for a monthly Myki it was about $150 and it’s got 2 ppl so c$300?

 

no car or associated costs 

 

that’s just for groceries not eating out that’ll come from the surplus money.

realistically looking at 50% of our wages is available to spend on entertainment and towards savings 

Yes you are right.

I wish it was $45 a month for trains fares but it actually about that per week.

Allow about $150 per month


I want it all, and I want it now.

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im on $154knot including the mrs wages. we pay $320/ fortnight for a 4 bed house. what sort of mansion are you thinking of living in? $200/week for food, $130/ week fuel cost, 2 loans, booze etc and still able to save. you should have loads

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9 minutes ago, deerstalker36 said:

im on $154knot including the mrs wages. we pay $320/ fortnight for a 4 bed house. what sort of mansion are you thinking of living in? $200/week for food, $130/ week fuel cost, 2 loans, booze etc and still able to save. you should have loads

Are you living in Melbourne too? Expenses can vary hugely depending n where you live

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9 minutes ago, Nemesis said:

Are you living in Melbourne too? Expenses can vary hugely depending n where you live

living in drouin, so a bit out from town. i have a mate who's moving to Melbs shortly and he's been quoted $500 . week for an apartment

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7 minutes ago, deerstalker36 said:

living in drouin, so a bit out from town. i have a mate who's moving to Melbs shortly and he's been quoted $500 . week for an apartment

"A bit out from town"?   That's like saying Dundee is a bit outside Edinburgh (same distance).     A rent of $500 a week is cheap for an apartment within 20km of Melbourne city centre, but it gets more reasonable the further out you go.


Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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We Managed to get a Brand new 2 bed apartment in prahran just off chapel and all our bills plus spending whatever we want we can still save over $2k so we are more then comfortable 

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true, but Druoin and warragul are becoming commute distance from Melbs. you cant really compare this with uk distances though. WA i commuted an hour and 15 to work every day, here, pakenham is 30 mins away. Leeds was an hour away in the uk but not commutable

 

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Posted (edited)
33 minutes ago, deerstalker36 said:

true, but Druoin and warragul are becoming commute distance from Melbs. you cant really compare this with uk distances though. WA i commuted an hour and 15 to work every day, here, pakenham is 30 mins away. Leeds was an hour away in the uk but not commutable

I think it's a bit of a myth that people judge distances differently in Australia.   It depends WHERE in Australia you are (because Australians in every state are different), what the traffic conditions are like, and why they're travelling. 

Sydneysiders will drive from Sydney to Noosa to go on holidays, for instance, and yet they won't drive from Neutral Bay to Sutherland for a party because it's "too far".     I do find Melburnites are a bit more willing to cross suburbs, though.   However those with really long commutes are usually doing it because they've been forced out of the city by high prices, not by choice, unless they go rural.

You say Pakenham is only 30 minutes away as if that makes it commutable to Melbourne, but to me (as an inner-city Melbourne dweller), Pakenham is out in the wilds itself.  From Pakenham into the city is 1.5 hours by train.

Edited by Marisawright

Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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5 minutes ago, Marisawright said:

You say Pakenham is only 30 minutes away as if that makes it commutable to Melbourne, but to me (as an inner-city Melbourne dweller), Pakenham is out in the wilds itself.  From Pakenham into the city is 1.5 hours by train.

which train are you getting? its only an hour and 15 into southern cross from Drouin and thats stopping everywhere on the way, did it this weekend. People in Oz do treat distances differently. a trip to Perth from Bunbury was the same from Hull to wolverhampton, yet one is a day out the other a weekend trip. Over this side its a bit different as the traffic is higher, but a weekender in the uk is still a day out here

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Posted (edited)
13 minutes ago, deerstalker36 said:

which train are you getting? its only an hour and 15 into southern cross from Drouin and thats stopping everywhere on the way, did it this weekend. People in Oz do treat distances differently. a trip to Perth from Bunbury was the same from Hull to wolverhampton, yet one is a day out the other a weekend trip. Over this side its a bit different as the traffic is higher, but a weekender in the uk is still a day out here

I looked it up on the PTV site (which is the metro trains).  You would be on the country trains.

I find country people in Australia treat distances differently but I notice it much less in the cities - but then I have only lived in Melbourne and Sydney.  Like I said, it's important to remember that Australians aren't all alike, any  more than a Londoner is like a Glaswegian. 

When we were living in Southampton after 30 years in Sydney, I was stunned to find English people driving 1.5 hours to go to ballroom dancing in the evening.  People in Sydney wouldn't even contemplate such a thing.   

Edited by Marisawright

Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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