457 dream

Hi all,

We would like to say thanks to all on here for the sound advice and motivation we received here. It took 3 months from time of lodgement till grant and roughly the same amount of time searching for a sponsor and the usual running around for training certs and employer ref's.

The dilemma now is should we stay or go?

We are both in steadyish jobs but not permanent and no bank will look at us for a mortgage in the uk. We have a plot of land have permission to build, problem is we have no savings. The original plan was to go to oz and work our butts off and come back with enough cash to build our dream home. Our combined salaries in oz will be 250k + but the relocating expences are scaring the life out of us. It would mean living in Sydney and paying $$$ for something similar to what is affordable here for similar standards of living.

My question..

Is there scope to save a large amount of cash ie 150 GBP in the life of a 457 without starving etc on such a salary ??

Any imput good or bad is welcome.

Thanks in advance.

457dream.

pumpkin blossom

Why didnt you think about this before letting the employer go through the sponsorship process????

Bermudashorts

Um what she said. Talk about time wasters, no wonder employers are wary of sponsoring!

And to your question not sure how anyone on a forum comment on your saving skills. If you never managed it in UK though, why would 12,000 miles make a difference.

Chortlepuss

Come to Australia because it's fun, you've always wanted to give it a go, the jobs are exciting etc... It's not the place (especially Sydney) to come to save money - but to experience. Most of us are here despite the fact that financially we'd be better in the UK

Graham and Maria

The company commited 4 years to you, you should give them the same courtesy, theres people on here that would give there right arm for the opportunity you have been handed.

If you think you can come here and earn that sort of salary which is considered high then I dont understand why you cant earn a comparitively high salary there, where you want to ultimately be.

Ultimately I would advise you dont come here at all, you dont really want to be here, you will struggle if your hearts are not in it and you will be worse off than you are now when you pay to relocate back.

bingobob777

it's perfectly feasible to save 150 pound over the duration of a 457 visa, but if you mean 150,000 pounds over 4 years then it all depends on whether you have kids and what you pay on rent.

Combined salary of 250k+, No kids, two bed flat quite far from the city, lots of commuting, 4 years of no holidays or eating out then yes you could save 150k gbp I would say.

goldchoccycoin

Assuming each of you is earning $125K (even split) then your take home is $176,850 per year for the two of you.

Many people don't earn half that much as a couple - so if you saved one income ($88K) each year then in 4 years you would have $350K (which is more than 150K GBP at current exchange rates).

You should be able to live on $88K per year in Sydney - but you wouldn't be 'well off'.

457 dream

Hi again all,

Thanks for the very sensible replies, We lived in Sydney for 4 years from 01 to 05 and both loved the city / country. my job is the bulk of the salary which comes with a ute and fuel card also. The role involves a lot of travel and staying away. It's a very demanding role and i suppose our hearts aren't really in it. I could be away for months at a time.

It's time to grow some b'#l's in fairness and take the opportunity. No kids yet means that we are quite flexible in regard to a lot of things. Part of me foresee's a huge financial crisis in the loom for Australia but my boss there assures me he has gov contracts signed beyond the 4 yr term of the visa.

The 150k goal is still there and we will never realise this goal at home.
I think that we could actually live there long term and forget about home and that scares us too. Our families realise this too and would be devastated to see us go understanding we might never return. In 2001 is was different, we had fun a lot of it!!! But we knew we had good prospects to return to.

Maybe I should go with my gut and forget about what my procrastinating head is telling me!!

We both realise how hard it is and we have been through a lot of hoops with diac. it was very stressfull to say the least, staying up through the night waiting on mails , phone calls trying to make the application water and fool proof.

Thanks again for your replies

pumpkin blossom

Every reply you had was sensible. You can't just think of you. Think of the company who have also had all that stress of finding someone and going through the whole application. These are the questions you should have asked yourself at interview stage.
It does sound like you are just a bit panicy though. I would ignor the money aspect and just concentrate on having an adventure for a bit. If you don't like it you can always come back.