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Cost of Living - Melbourne

Cost of Living - Melbourne

Old Sep 16th 2010, 7:47 pm
  #1  
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Default Cost of Living - Melbourne

Sorry if this is the wrong place for this post, but could someone give a quick insight into their monthly expenses living in Australia.

We are 2 parents + 3 kids.
We are thinking per month:

RENTAL: 1500 (Roughly $350 pw seems reasonable)
SCHOOL FEES: 2000
FOOD: 1500
PETROL: 300
GAS/ELEC/WATER: 400
TEL: 100
CAR INS: 50
HOUSE INS: 50
LIFE: 50
------------------
6000

plus other expenses, eg clothes, entertainment, etc
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Old Sep 16th 2010, 10:07 pm
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Default Re: Cost of Living - Melbourne

Hi

Just looked at my personal accounts. We are a 2 adult, 19 year old child family living in outer burbs of Melbourne

Averaging per month for last year
Gas: $90
Water: $65
Elec: $67
Home Ins: $45
Car (2 cars): $47
Rates: 97
Petrol: $267. Two cars, about 18,000km per year on the odometer

Life insurance. Obviously you an buy this here, and is alos usually part of of your superannuation benefits anyhow, but might be worth thinking about buying this in the UK. Many policies here have periodic increases in premiums, whereas most simple UK term life policies have an agreed fixed premium upfront. I'm not a financial advisor (though I did work in the insurance industry in the UK) - so am not qualified to give specific advice ya-di-ya-di-yadeh.

Personally, didn't think school reated costs for a state school would come of $2,000 per year though I'm open to being corrected on the point. However, you should look out for costs incurred for before- and after-school care, even though the state often rebates some of it.

Neil
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Old Sep 16th 2010, 11:50 pm
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Default Re: Cost of Living - Melbourne

Originally Posted by GoingIn2011 View Post
Sorry if this is the wrong place for this post, but could someone give a quick insight into their monthly expenses living in Australia.

We are 2 parents + 3 kids.
We are thinking per month:

RENTAL: 1500 (Roughly $350 pw seems reasonable)This will vary quite a bit depending on where you live and how big your house is. In the inner suburbs, you won't find a 3/4 bedroom house for less than $450/week. Go out to over 30 minutes from CBD and you could get 3/4 bedroom for $350.

SCHOOL FEES: 2000 If you are PR, state schools are free in Victoria. Not sure about temporary residents, but I think it's still free. I know NSW charge temp res but double-check for Vic. You will have to pay for uniforms, after school care and other activities though. Private school fees vary from a couple of grands to $25,000 per year I think.

FOOD: 1500That's about right, though again will depend where you live, eg if you can get to markets, Aldi, Costco, etc. I believe it also depends on kids' ages. I have 2 small boys so they don't eat as much as teenagers yet

PETROL: 300 Another one that changes depending on where you live, how you commute, what car you have, price of petrol... We spend about $80/fortnight but my OH takes the train and I am home with the boys.

GAS/ELEC/WATER: 400 We spend about $300/month

TEL: 100 Including mobiles and naked ADSL, our bills are about $130/month

CAR INS: 50 Our car costs us about $135/month. That includes yearly registration, insurance and maintenance, excluding petrol. We have a 10-year-old Honda CRV so nothing flash and it's our only car.

HOUSE INS: 50 We pay $50/month for buildings AND contents

LIFE: 50 OH has life insurance through superannuation, I pay about $50/month for $600k (but I'm an occasional smoker so they charge more!
------------------
6000

plus other expenses, eg clothes, entertainment, etc
You will also have medical expenses, maybe also private health insurance. Depending on your income, you may be entitled to some benefits, but that's a whole other thread!
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Old Sep 17th 2010, 9:07 am
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Smile Re: Cost of Living - Melbourne

Originally Posted by wongstonn View Post
Hi

Just looked at my personal accounts. We are a 2 adult, 19 year old child family living in outer burbs of Melbourne
You might wish to edit this mate unless your darling daughter has suddenly acquired a TARDIS

BB
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Old Sep 18th 2010, 3:46 am
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Default Re: Cost of Living - Melbourne

Originally Posted by GoingIn2011 View Post
Sorry if this is the wrong place for this post, but could someone give a quick insight into their monthly expenses living in Australia.

We are 2 parents + 3 kids.
We are thinking per month:

RENTAL: 1500 (Roughly $350 pw seems reasonable)
SCHOOL FEES: 2000
FOOD: 1500
PETROL: 300
GAS/ELEC/WATER: 400
TEL: 100
CAR INS: 50
HOUSE INS: 50
LIFE: 50
------------------
6000

plus other expenses, eg clothes, entertainment, etc
As Elise mentions, you didnt state how old the kids are though. If they are still young, you should be fine, if they are teenagers like mine, you probably know that its like a plague of locust when they get home from school. You can easily add another $200/$300 if thats the case

Also if the kids are older, they will probably have/need mobile phones, and then you might end up looking more like $200 for internet, landline & mobiles.
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Old Sep 19th 2010, 2:39 pm
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Default Re: Cost of Living - Melbourne

Originally Posted by GoingIn2011 View Post
Sorry if this is the wrong place for this post, but could someone give a quick insight into their monthly expenses living in Australia.

We are 2 parents + 3 kids.
We are thinking per month:

RENTAL: 1500 (Roughly $350 pw seems reasonable)
SCHOOL FEES: 2000
FOOD: 1500
PETROL: 300
GAS/ELEC/WATER: 400
TEL: 100
CAR INS: 50
HOUSE INS: 50
LIFE: 50
------------------
6000

plus other expenses, eg clothes, entertainment, etc
It's good to see you be more realistic than some, but actually, I think you have overestimated in places.
We would find it hard to spend 1500 on food. Ditto 400 on electricity/water/gas. For us it would be more like 85 a month for electricity. We have mains water but tank for washing machine and toilets so our water bill has been 50 bucks a quarter for the last 3 years or so.

I've worked out our monthly expenses (sort of 'unladen' weight) is $2500 including mortgage. This is to exist and is what we would allocate in times of emergency and includes all bills and food but does not include 'laden weight' such as clothes, entertainment, car maintenance or the tens of other things that vary from month to month to say nothing of week to week so are harder to track.


Rental could be more though.
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