WBB

we wont need anywhere near $80k to get by.

it is horses for courses and just to bandy figures like this around is not really accurate, some people will be renting, others will have a mortgage and some (us) will be building/buying a new property and have no debts.

we think we could get by on just over half that amount and our recent trip confirmed that.

$1000 dollars a week when you have no mortgage and bought your vehicle for cash is more than enough to live very well.

Brian & Lou

Hi,

We too have started to worry that we will quite possibly be worse off over there. We have been to one of the websites that can calculate how much you need to be earning over in Oz to have the same standard of living as you have here, and that comes out okay for us, but a number of people have also said that cost of living is actually higher in Oz and that has us worried. These 'calculations' are only approximate and you never really know until you get there. However, we have decided to try it and see for ourselves - the plus points of life over there for us make us want to take the risk. BUT we would love to hear from folks already there to find out how you actually manage and if life is as good as you thought. So folks, get answering PLEASE!!

debsy

Grayling
At leas if we expect the worst it can only be better when we get there

Grayling

You may well be right WBB

$80000 was the figure quoted on another post so I used that a a 'Benchmark'.

People's circumstances vary.

Truth is I don't have a clue and nor do many others which is why this discussion is helpful.
To me anyway

G

thebarkers

Although surely the figures on here are better than having
no idea at all ??

out of about $4000 a month our mortgage would be about $1000
so for a family of 3
me hubbby matt and 19 month old can we survive
we dont live the high life
but as most dont want a never ending battle on our hands

steve-n-jo

I am not panicking...because when we get to Oz we are going to be poorer....I earn more per week in pounds here than I will in Dollars in Oz:scared: . I own/run a carpentry contracting company here and employ several carpenters....but in Oz I will be knocking in nails for someone else.

BUT....will be mortgage free, and with the exception of shopping and utilities will be debt free

AND...will spend more time with my three Fantastic girls (Four if you count the wife!!) who I have spent hardly any time with since they were born (excluding the wife!) and when I have my mind has been on other things or stressed..
....Ive had the nice cars, Ive had the nice motorbikes, weve had nice holidays and have a nice house....but spending one week on holiday with your family out of 52 is Bo**ocks!......... I just want to laugh with my kids and have FUN ......

I've done the materialistic crap..and for the most part it all means nothing and the more you get the more you want....

Well glad thats off me chest

Steve

thebarkers

sent you a pm

ANA123

We feel pretty comfortable on about $80,000 so far. We have a slightly higher mortgage than in the uk, but also had a biggish deposit. We bought new cars on arrival and paid big bills out of our lump sum so next time they come round it may be slightly harder, but generally we feel we have enough money to do what we want to and a little over to save. An example of our monthly outgoings, mortgage and rates aside:
Food: $600
Telephone $80
Internet $30
Fuel : $150 (2 cars, Husband travels fair distance to work)
Electricity : $70

Husband works 4 days per week and I work 2, thats the biggest bonus for us of being here. I wouldnt say we feel better or worse off than the uk, about the same. We have a slightly larger house of the same value, but generally I dont think theres much difference materially.

Simone

All depends on area to of course.

I'd think that Brisbane would be cheaper to live in than Melbourne???

Megalania

$80k/yr keeps a young family of 4 together with not much left over.

But there is MUCH MORE TO CONSIDER - RETIREMENT.

If you are 35, own your own house outright, want $80k/yr in retirement and:

You retire @ 55 and live to 85, you need ~$2M in todays' money. You need to save ~$100k/yr. You need to earn ~$180k/yr.

You retire @ 65 and live to 85, you need ~$1M in todays' money. You need to save ~$33k/yr. You need to earn ~113k/yr.

This is simplified to keep the arithmetic simple. It assumes, reasonably, that your investments only keep pace with inflation.

joveazey

Hi,

Hope this helps ...

My sister in law and her husband live in Perth - he was originally an electrician but now works as a sales manager for an alarm company and earns about £70,000 per annum. They have 3 children, 7 yrs, 3 yrs and 7 mths. She doesn't work, they have a mortgage - don't know exactly how much it is but probably only about $50,000. They have a good standard of living with a 4 bed 2 bath + study house that they bought, they also added a pool.

Does anyone know how much bricklayers are earning in Perth ???

Jo

seang

exactly nobody seems to factor that in

ANA123

Sorry....I forgot to add the amount we paid for pensions....also extras such as swimming lessons/after school activities/ leisure....I will work out a proper budget including all this and put it up......

sjn2003

This just about sums up my attitude completely!

I don't know whether its because I am a reasonably financially astute accountant that I am not bothering to do the sums, and I know that there are too many 'what ifs' to make any calculations too vague for my liking. Or it could be the reasonable cash chunk I'll be taking that will provide a good safety net, whilst I work it out over there.

For those who are not taking much cash, its worth doing the sums. But I wonder how many people will decide not to go based on what they come up with? Not many would be my guess.

Good thread though

Herman

I was offered a salary of $98,000 to stay in Sydney when we were there but I felt this was inadequate for the job, which was as an accountant working extremely long hours. It seemed especially light compared to my salary in London, which if you switch the sign to a pound sign is close to what I earn for what is basically the same job.

My personal view was that to own a house in a good Sydney suburb, even with a large deposit, and have a decent lifestyle you needed to be earning over $150,000. Accountants don't get that kind of recognition in Oz so financially we are far better off in London and as Meg pointed out, can save a decent sum towards a comfortable retirement.

Sydney is very much a 2 tier economy (not unlike most of the UK) now - the 'haves' that came years ago and have prospered on the back of land/property value increases and those that arrived recently and struggle to come anyware close in terms of lifestyle and tend to shackle themselves with massive mortgages.