micnic

We hope to move to Queensland.

We are lucky to have fully equity in house in UK and are confident that we can buy nice house with pool outright on either GC or SC.

My question is this:

With two children in tow, it is highly likely that certainly initially we will rely on my hubby's income which is likely to be at least 45k before tax etc. Assuming this to be the worst case scenario, will we be able to survive financially?

I will go out to work at some stage but will want to settle children and will also need to formally transfer my qualifications as a solicitor and this may therefore take some time

sue&bob

Hi, 45k should be enough if you dont have a motgage,but depends on your lifestyle,if you just do normal family things,like bbq's and beach ,and maybe eat out once a week,than that will be plently,but if you want to live it up or send the kids to private schools and run and large car,and have lots of holidays, then you may struggle on 45k,just depends what you are expecting from the the ozzie lifestyle.
Put it this way could you live on £20k without a mortgage now,some would say its cheaper here but i think its swings and roundabouts on the cost of living.
But good luck whatever you decide.
sue

micnic

Thanks Sue,

Your answer was what I was anticipating! Beach/BBq lifestyle is our thing! Certainly would not live it up or expect to on that income and it would be our starting point as my income in due course would improve our lifestyle. 45k is our worst case scenario and so seems to me that financial matters will not stop us! Planning Reccie for Feb - can't wait!

4lex

That pans out to just under 3k dollars per month after tax and medicare levy. 2,956 to be exact. Yes, with no rent or mortgage to pay it's entirely doable, reckon on about:
1000 / month for groceries,
75 / month for gas & electric,
200 / month for healthcare
500 / month for average car running costs (fuel/ins/dep/reg)
60ish for internet,
20 for landline,
100 for 2 mobiles
Leaves you with about a grand for school fees (no idea how much these are) eating out, drinking and other entertainment.

I'd suggest you rent somewhere initially. Finding the right area to live in is well worth taking your time over. Add to that the 7pc mortgage rates against lower than 7pc growth, and the fact you can get 7pc on your savings (tax free up to six grand, and 15pc up to 25k assuming you put the money in your name while you're not working and you may find your equity houses you for less cost than buying anyway.

Good luck,
Alex

micnic

Wow! Thanks Alex, that is so helpful!!

You have made my day by showing the income after tax, medicare levy! It really is reassuring to see the figures to know that it is manageable.

Thanks again, you are obviously very well organised.

Nicky

4lex

You're very welcome. I haven't allowed a number in there for the equivalent of council tax, which I understand does exist here, but I haven't bought yet pending our permanent residency, so I'm not up on that - though I'm sure advice will be forthcoming on that soon enough.

Jayniebabes

I think you can also count on family credit of about$600 a month on top of that?? However saying that not sure if it is different in QLD to Perth??

good luck

sj oldfield

It varies on your lifestyle. Whereabouts in Pompey are ay............we come from there!!

Siren & Brian

Thats it, you will be able to get Family Assistance which will basically negate any tax you pay, so with no mortgage you will have plenty

micnic

Horndean, how about you? Do you miss the place?

annqldau

If you are buying house outright I would say yes as you won't have mortgage payments which are the bulk of a lot of peoples wages.

BadgeIsBack

There will be plenty of people queing up to say its not possible - or rather, you'd find yourself running out of money more often than not to cover unforseen expenses. This is the biggy.

I'd say you'd not be pushing the boat out, and it depends what activities the kids do. Alot of people who would be sceptical might spend money on things they could actually remove from their budget.

aston man

well i would of said it cannot be any different from here,you need to bring a grand a week home here to have any kind of lifestyle and to do that you have to bleedin kill yourself...so my view is,as im in more or less the same boat is sod it i'll manage on whatever..

i would of thought that you would have to look at you lifestyle here,do yu live like a film star here?if not theres no problem.you will always manage...as long as your happy who can put a price on that?

ast....

Australia_bound?

A grand a week, I bloody wish!
Have 2 cars and can afford to go on holiday once a year and go out socialising a few times a month! What lifestyle are you living?
Don't know how you'll manage if you only earn 1 to 2 grand a month!
Don't know many people who earn a grand a week, but those I do don't have to work that hard to get it!!!! they just have a lot of responsibility in finding plenty of scapegoats when it all goes wrong

aston man

thats exactly what im saying,you have to pull in 1k here to have a good lifestyle here and save a few quid.my mrs only earns a small amount..who does earn a grand a week here ,week in week out,not many..yes i did once earn that kind of money,i have experienced being able to buy what i want and a nice holiday home etc.but those days are gone and things are a lot tighter.

its like i said,if you like to pay £150 for a pair of strides ,then its obvious that your not going to be happy on the bare minimum out there..your not going to be happy in yer aldi strides are you..

if you aim low and at the end of the month your left with a few quid in pocket your going to be happy.

if you go out there and think your going to be living like a film star and you dont,,,you are going to be one unhappy aldi trousers man

ast