Famous 5

I think the OP is right to warn people to do their homework about how move to Australia stacks up financially.

We are considerably worse off financially than we were in the UK, but we knew that would be the case because we were moving from London to a regional area and up until now only my OH has been working. We planned for that, but even so the cost of living has surprised us - food is more expensive here, we spend much more on fuel than we did in the UK (it is cheaper to buy, but we use about 5 times as much as we did in the UK); we need 2 cars rather than 1 (in London we could walk, cycle, use the tube and often didn't use the car for days on end). We also find that we spend more on holidays/flights than we did when we were based in London.

Property here on the Sunshine Coast is obviously considerably cheaper than London, but compared to local salaries is completely out of reach of lots of people. Even rents are rocketing. Not such a problem for people moving from overseas with a big chunk of equity in the bank, but I wouldn't want to be a local trying to compete.

As a lawyer in London I worked with a lot of Aussie lawyers and they all told me that one of the reasons they stayed in London so long was that the money was so good there. Now I know what they mean - lawyers here (even in Brisbane, Sydney and Melbourne) don't earn anything like their counterparts in UK law firms.

I wouldn't tell people not to try life in Australia, but they should take a long hard look at the figures if they don't want a nasty shock.

spartacus

The Australian government runs a very good marketing campaign . . . the golden sunshine and endless, empty beaches . . . we’ve all seen the ads, and alongside this is the apparent desperate need for skilled migrants. It can be a very seductive combination when viewed from the perspective of a grey day in Gateshead. Sections of the British media, with their own political axe to grind, play a part in promoting this illusion. It just about stops short at posters of John Howard with a tash in a ‘kitcheneresque’ pose with the strap line “Australia Wants You” plastered across the bottom. And in all honesty, that image isn’t too far from the truth, except the strap line should read “Australia Wants Your Money’. The Australian government is playing a game of “Sim City’ attempting to grow a nation, and they need people to do it. But if the birth rate won’t sustain the required rate of increase then those people need to be attracted from elsewhere, and if those migrants (investors) can arrive with a pot of money to spend liberally then all the better.

cabaj

We are fortunate enough to earn roughly the same as we did in the UK. However, we have much less disposable income here. Cost of living is higher here and the gap is increasing all the time. Another issue that seems to be missed is that the mortgage rate is on average 2% more than in the UK.

We know couples who migrated to Aus over the past 10 years and some have never left the shores for a holiday due to the excessive cost. We have managed to go abroad a couple of times over the past 3 years but living in Aus certainly hampers one's ability to travel internationally.

As someone pointed out, 5+ years ago the cost of living was comparable, or perhaps cheaper (in Aus). But things have changed. House prices, mortgage expense and increasing cost of living have taken the shine off the financial viability of living in Aus.

Fleaflyfloflum

Spot on!

Issie

I cannot afford a holiday abroad every year. We earn a very good wage here in the Uk and have no money left for treats , we have an 80 K mortgage!!!!

When we do have any money left and we have a treat , it costs a fortune to go anywhere. Its usually piddling down and everywhere is jammed packed.

There are lots of BOGOF in the supermarkets.....there is a big war with them, but i HATE supermarkets, overcrowded and trolley rages during Christmas and Easter.........:curse:

Good and bad everywhere in the world IMO........everyone has different experiences and opinions, makes the wrold go round i suppose !

oliver1982

Let me start by saying that I work a 'normal' i.e. unskilled, office job and I moved here with only $4000 and a suitcase full of clothes.

I earn more out here (slightly) and work less hours, but I am definately better off...no council tax, water rates, I actually own a car for the first time in my life.

In Bristol I used to have no more than £5 to spare every month. Now I have money left over every week and am doing something I never thought I'd be able to do...save money! So it's not all bad news.

Mind you I don't have any kids and don't have a mortgage so it's different for everyone.

SKIPPI79

It seems funnny everyone say big mortgages in OZ, but have you ever thought about first time buyers in the UK or even other parts of Europe???
I'm 28, and haven't owned a house, if I buy one here in Belgium i'll have a £160K mortgage at least, so whats that in $$$ roughly $400K, now in most areas you can buy something in OZ for that, unless your in the middle of the city.It might not be the nicest house on the market, but it wouldn't be in Belgium either. Thatis also a factor in where we're going to choose where to live!!
Do I want a massive motgage? NO
There are still nice places to live with affordable living? But if you want the jacuzzi, the big waterfalled pool, the 2 brand new cars and evreything else, then yes people will struggle? But did you have all these back home??? probably not! but people move to OZ, with a bit of money and directly want the whole 9 yards.

oliver1982

Agreed. Jetty, Speedboat, Most uneconomical car going, HUGE mortgage, posh sausages = "Where's my money gone"

jad n rich

Know plenty of tradies with the big house, (mostly bought pre boom on the water now worth a bomb) but holidays, your right hardly ever, never hear of any venturing overseas, nothing more than a trip up to yet another beach for another weekend on the piss or fishing. Christmas shut down the same, more piss, more fishing if you say your going overseas most ask "why"

RedT

I think it’s probably a little OTT to say ‘don’t move to Australia if you want to be better off’! I don’t believe one can ever make blanket statements about any situation! What is important to stress is that you should always check and re-check your figures to see as much as possible, what financial position you will be in when you move. Look at the worst case scenario, work out the absolute minimum you need to live on and to support the lifestyle you would like to live.

I'm still in the UK, my brother and his wife live an hour outside Sydney. They aren’t huge earners but they have enough to support the lifestyle they want which is chilled out, no major spending but enough for them to go home to see the family every year or so. Plus of course to many people, money isn’t that important. If your priority is the weather, outdoors etc and you’re happy with just enough to live on then that’s all you need to consider.

Just my two cents/1p!

Tx

BadgeIsBack

I think people think they are entitled to spend as new migrants. They come for an easier life and then make it harder.

We are definitely better off here because we've kept to our guns and have never forgotten the gameplan which is to not get suckered in to consumerism.

And I earn more, and spend less. Our mortgage is a fraction - just 22pc of one income.

geordie downunder

You hit the nail right on the head there.I would add a rider of how you spend it too.

Rather than the 40-50 K new 4 WD get a good second hand car for 15K and either put the rest to the mortgage or start a share portfolio.

TheSubMainMan

Great thread, Great discussion, sending karma....

Graham and Maria

We're not moving to make goood money, that has never been my reason. Enough to get by and everything else that comes with it will suit me down to the ground.

I expect to start back at the bottom and work my way back up but after citizenship I was hoping to do something different/more outdoors anyways which will undoubtedly come with a lower wage packet.

Correct me if Im wrong but I dont think SKIPPI79 is unhappy and advising people not to move to Oz he/she is mearly stating facts to those rose tinted glasses wearing people out there who are thinking life will be easier out there

Money dosnt always bring happyness, life is what you make of it!

ozzieeagle

LOL, yes they do, bloody ocker mentality lol ! at least they are mostly happy in themselves.