Cost Of Living - Is It This Simple
Simple question really.
The general feeling seems to be that the cost of living in Oz is roughly the same as it is in the UK. So if I'm earning say £25,000 in the UK & i get Offered $50,000 in oz, Will i be financially better off in Oz. |
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515959)
Simple question really.
The general feeling seems to be that the cost of living in Oz is roughly the same as it is in the UK. So if I'm earning say £25,000 in the UK & i get Offered $50,000 in oz, Will i be financially better off in Oz. |
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515959)
Simple question really.
The general feeling seems to be that the cost of living in Oz is roughly the same as it is in the UK. So if I'm earning say £25,000 in the UK & i get Offered $50,000 in oz, Will i be financially better off in Oz. |
Re: Cost Of Living - Is It This Simple
Originally Posted by Nu-Shooz
(Post 6515971)
$50,000 is quite low (if you mean a year). Then again depends if you are on your own or a family.
By the same token, do you think 25K is low for a UK salary. |
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515982)
Wife, 2 young children & 2 dogs.
By the same token, do you think 25K is low for a UK salary. |
Re: Cost Of Living - Is It This Simple
Originally Posted by wannabauzzienurse
(Post 6515986)
Where are you planning on living?
|
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515987)
Brisbane at the moment.
I earn just under $50,000 and have a husband and 2 kids (no pets) and if he didn't work my wages would not cover our living expenses. We pay $300 a week rent for a place that is really too small for us all but if we get a mortage that $300 will double. Wouldn't want to be anywhere else tho :) |
Re: Cost Of Living - Is It This Simple
Originally Posted by wannabauzzienurse
(Post 6515999)
No expert but basic things like groceries are more expensive here than the UK and housing costs more expensive in the current market also.
I earn just under $50,000 and have a husband and 2 kids (no pets) and if he didn't work my wages would not cover our living expenses. We pay $300 a week rent for a place that is really too small for us all but if we get a mortage that $300 will double. Wouldn't want to be anywhere else tho :) It would be really useful to see where all the cost come from. |
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6516007)
Has anyone on the forum ever done a breakdown of living expenses, utilities, car insurance etc.
It would be really useful to see where all the cost come from. |
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515959)
Simple question really.
The general feeling seems to be that the cost of living in Oz is roughly the same as it is in the UK. So if I'm earning say £25,000 in the UK & i get Offered $50,000 in oz, Will i be financially better off in Oz. http://www.gomatilda.com/calculator/index.cfm In a nutshell, the conclusion I drew from the other thread was that if I earned 100,000 groats in the UK, I'd need to earn about 75,000 groats in OZ to maintain a similar quality of life. In other words, if I earned £100,000 (a nice round number for calculation purposes) in the UK, (this works out to AU$200,000), then I would need to earn AU$150,000 in Oz for it to work out the same. Or, to put it another way still, £1 spent in the UK has the same purchasing power as £0.75 (AU1.50) spent in Oz. I don't know if any of this is true. It's just based on what others on BE have quoted and a few number typd into the above web-site. - CDM |
Re: Cost Of Living - Is It This Simple
so if your on £30k in uk, by these calculations wouldnt you need to earn $45k? isnt that a little low for aus?
|
Re: Cost Of Living - Is It This Simple
Obviously it depends on your lifestyle, where you choose to live, etc... but it is a fair guide to say (like the OP) that you need to have twice as many $ as £ to have the same standard of living. This guide has been good regardless of the exchange rate. (All the exchange rate determines is the value of the £s that you're bringing over.)
Although people bang on about groceries being (debateably) more expensive here there are lots of things that are cheaper: petrol, council tax, eating out, most entertainment, insurance to name a few. Now I know some people are going to come in and say that some of those things are more expensive and it may depend on where you live but usually it's because they're comparing apples and pears and it comes down to their own personal choices or circumstances. The classic is that although the petrol is cheaper here you have to drive 3 times as far. Per capita Aussies drive about the same average miles as Brits so on average people are not driving 3 times as far, it's the people who've decided to live a long way out. I moved from city to UK to countryside Aus and I am driving further. However I'm not driving further than if I had moved to countryside UK (which would have cost a lot more). |
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515959)
Simple question really.
The general feeling seems to be that the cost of living in Oz is roughly the same as it is in the UK. So if I'm earning say £25,000 in the UK & i get Offered $50,000 in oz, Will i be financially better off in Oz. We now earn around the same or as we did in the UK, and seem to have more cash available at the end of the month. We were trying to figure out why, when in general, our mortgage is higher, shopping is higher, but in the end with lower rates, petrol etc I reckon the overall costs are the same. You spend less to entertain yourself and the weather helps. I think the difference for us is that we do not feel like we have to have one or two holidays abroad a year just to get a bit of sun and that probably saves the equivalent of around $5k - $10k a year for a family of 4. Julia |
Re: Cost Of Living - Is It This Simple
Originally Posted by JAYMAC
(Post 6517167)
Hi,
We now earn around the same or as we did in the UK, and seem to have more cash available at the end of the month. We were trying to figure out why, when in general, our mortgage is higher, shopping is higher, but in the end with lower rates, petrol etc I reckon the overall costs are the same. You spend less to entertain yourself and the weather helps. I think the difference for us is that we do not feel like we have to have one or two holidays abroad a year just to get a bit of sun and that probably saves the equivalent of around $5k - $10k a year for a family of 4. Julia You may also find that the tax is lower. People are often misled by the lower advertised rates of tax in UK but are for most people higher. :) |
Re: Cost Of Living - Is It This Simple
Originally Posted by perksy
(Post 6515975)
Surely it depends on a few other factors. Say you live in London and earn £25k and you moved to the Adelaide suburbs you would probably think the cost of living is cheaper in Oz. Likewise the reverse say you earned £25k and lived in Middlesborough but you moved to Sydney then you would probably say its more expensive in Oz.
Originally Posted by MartinLuther
(Post 6517186)
Agreed.
You may also find that the tax is lower. People are often misled by the lower advertised rates of tax in UK but are for most people higher. :) edit: Or was there an even higher one? Can't remember now, out of touch. |
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515959)
Simple question really.
The general feeling seems to be that the cost of living in Oz is roughly the same as it is in the UK. So if I'm earning say £25,000 in the UK & i get Offered $50,000 in oz, Will i be financially better off in Oz. To give you some very rough numbers, food will cost perhaps $150 per week, rent $350 at least, phone and internet $25, gas & elec maybe $40 or $50, rates maybe $30, petrol maybe $50. That adds up to approx $650 per week. If you are taking home about $850 per week, that leaves you with $200....approx GBP100 per week to cover everything like insurance, schooling, entertainments, clothing, saving for the future. |
Re: Cost Of Living - Is It This Simple
I think aswell you have to think of other things in your monthly outgoings. Most people pay somesort of unsecured credit repayment in the UK (i.e loans, storecards, HP, credit cards etc). Probably most people when they come to Oz don't have these outgoings straight away. I'd make sure you budget in advance for these sort of outgoings in the future.
|
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515982)
Wife, 2 young children & 2 dogs.
By the same token, do you think 25K is low for a UK salary. |
Re: Cost Of Living - Is It This Simple
Originally Posted by JAYMAC
(Post 6517167)
Hi,
I think the difference for us is that we do not feel like we have to have one or two holidays abroad a year just to get a bit of sun and that probably saves the equivalent of around $5k - $10k a year for a family of 4. Julia Guess it also depends how much you factor in return trips to the UK as part of the cost of living. I appreciate some people are not interested in going over but plenty others would want to go every couple of years or so. |
Re: Cost Of Living - Is It This Simple
Our outgoings per week in NSW for a family of 3 are:
Groceries - $160 Petrol - $75 Rent - $325 Water - $5 (we're in rented so pay very little) Gym - $14 Gas - $15 Contents Insurance - $9 2 x mobile phones - $24 Motor Insurance - $15 Electricity - $25 Phone, Broadband and Foxtel combined - $45 Total Per week - $712 Total Per Month - $3085 Total Per Year - $37020 So our annual expenditure on the Everyday things - no savings, no spendings, no after school activities, no eating out, no holidays is $37020! That obviously needs to be what you take home. So...based on $50,000 a year, you should just about be able to pay your bills....but in my opinion...you couldn't really do much else. Hope this helps :) Rach |
Re: Cost Of Living - Is It This Simple
Originally Posted by markallwood
(Post 6517261)
To cut a long answer short, I would say - no, you will be worse off in Australia.
To give you some very rough numbers, food will cost perhaps $150 per week, rent $350 at least, phone and internet $25, gas & elec maybe $40 or $50, rates maybe $30, petrol maybe $50. That adds up to approx $650 per week. If you are taking home about $850 per week, that leaves you with $200....approx GBP100 per week to cover everything like insurance, schooling, entertainments, clothing, saving for the future. |
Re: Cost Of Living - Is It This Simple
Originally Posted by perksy
(Post 6515975)
Surely it depends on a few other factors. Say you live in London and earn £25k and you moved to the Adelaide suburbs you would probably think the cost of living is cheaper in Oz. Likewise the reverse say you earned £25k and lived in Middlesborough but you moved to Sydney then you would probably say its more expensive in Oz.
|
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515982)
Wife, 2 young children & 2 dogs.
By the same token, do you think 25K is low for a UK salary. I earn around 28K in the UK and definately dont think its a low salary. |
Re: Cost Of Living - Is It This Simple
Think i'm even more confused now:confused:
|
Re: Cost Of Living - Is It This Simple
Originally Posted by ann
(Post 6519923)
terrenced houses
|
Re: Cost Of Living - Is It This Simple
Originally Posted by brissybound
(Post 6520093)
I earn around 28K in the UK and definately dont think its a low salary.
So in answer to the original question IMHO if you are comfortable in UK on $25kpa you will be struggling in Aus on $50k. |
Re: Cost Of Living - Is It This Simple
Originally Posted by quoll
(Post 6520697)
So in answer to the original question IMHO if you are comfortable in UK on $25kpa you will be struggling in Aus on $50k.
You also need to bare in mind that we're renting at the moment. If we were to buy, our rent/mortgage would increase by around $160 (based on $260k mortgage) per week plus we would have to pay rates at around $20 per week and water would also increase by $10 per week. To summarise (sorry I sound like I'm in a board meeting or something!!) Hubbys basic wage - $56k With Overtime (lots) - $95k (roughly) Our Take Home Pay - $65k Annual Outgoings while renting - $37k ($28k remaining) Annual Outgoings if buying - $47k (18k remaining) We are by far a wealthy family! I shop in Op shops and Garage Sales all the time (mainly because I love getting bargains!) and buy all the cheapest brands in the supermarket. I dont want to put a downer on things for you, just putting across what our financial situation is so that you have an idea of what to expect. Hope this helps :) |
Re: Cost Of Living - Is It This Simple
Originally Posted by maxtye
(Post 6515959)
Simple question really.
The general feeling seems to be that the cost of living in Oz is roughly the same as it is in the UK. So if I'm earning say £25,000 in the UK & i get Offered $50,000 in oz, Will i be financially better off in Oz. my OH earns @ $60k but we are mortgage free and have no kids, his work is at the bottom of the road so no big fuel bills, so yes even though his is not a high wage we are financially better off. |
Re: Cost Of Living - Is It This Simple
Originally Posted by MartinLuther
(Post 6517162)
Obviously it depends on your lifestyle, where you choose to live, etc... but it is a fair guide to say (like the OP) that you need to have twice as many $ as £ to have the same standard of living. This guide has been good regardless of the exchange rate. (All the exchange rate determines is the value of the £s that you're bringing over.)
Although people bang on about groceries being (debateably) more expensive here there are lots of things that are cheaper: petrol, council tax, eating out, most entertainment, insurance to name a few. Now I know some people are going to come in and say that some of those things are more expensive and it may depend on where you live but usually it's because they're comparing apples and pears and it comes down to their own personal choices or circumstances. The classic is that although the petrol is cheaper here you have to drive 3 times as far. Per capita Aussies drive about the same average miles as Brits so on average people are not driving 3 times as far, it's the people who've decided to live a long way out. I moved from city to UK to countryside Aus and I am driving further. However I'm not driving further than if I had moved to countryside UK (which would have cost a lot more). Smart and well thought answer. I think there is a lot of sense in your reply. |
Re: Cost Of Living - Is It This Simple
Originally Posted by Seasider
(Post 6517259)
That's a very good point, perksy. I think many of us forget we're coming from a 3-bed Barratt Box in a provincial town or minor city where property is relatively cheap, to one of Australia's major cities and expect a McMansion with en suites, pool and rumpus room for the same money. Which also needs heating/cooling and maintaining. (Yes, huge generalisation just to illustrate the point.)
.[/I] |
Re: Cost Of Living - Is It This Simple
Originally Posted by Mrs Jackaroo
(Post 6517314)
Our outgoings per week in NSW for a family of 3 are:
Groceries - $160 Petrol - $75 Rent - $325 Water - $5 (we're in rented so pay very little) Gym - $14 Gas - $15 Contents Insurance - $9 2 x mobile phones - $24 Motor Insurance - $15 Electricity - $25 Phone, Broadband and Foxtel combined - $45 Total Per week - $712 Total Per Month - $3085 Total Per Year - $37020 So our annual expenditure on the Everyday things - no savings, no spendings, no after school activities, no eating out, no holidays is $37020! That obviously needs to be what you take home. So...based on $50,000 a year, you should just about be able to pay your bills....but in my opinion...you couldn't really do much else. Hope this helps :) Rach |
Re: Cost Of Living - Is It This Simple
Originally Posted by busterboy
(Post 6520998)
Hi Rach, these figures do not take into account tax on $50k or the other hand benefits. I think you are right to say that there would be little left over.
|
Re: Cost Of Living - Is It This Simple
1 Attachment(s)
If its any use to you, you can have a play with my spreadsheet and work it out for yourself.
I think its pretty self explanatory, but if you struggle with it, just let me know |
Re: Cost Of Living - Is It This Simple
ok im struggling with it lol, put all the info in on the left hand side with uk details, what is next?
|
Re: Cost Of Living - Is It This Simple
1 Attachment(s)
Fill your UK details in column B in £'s
The Australian Rent / Mortgage goes in K5 (weekly) theres a monthly conversion Fill in all Aus costs in column H If you are keeping a house in the UK use the part of the spreadsheet at the bottom adding your monthly mortgage and the rent acheived in respective boxes Your Aus Salary (annual) goes in K13 Change the Dollar / £ rate in K28 If your spouse works then use the area in the box to put their weekly wage in £ and what you think they will earn in Dollars I've attached a filled in one as an example |
Re: Cost Of Living - Is It This Simple
Anyone make any use of it ?
|
Re: Cost Of Living - Is It This Simple
Thanks for sharing, Stu, but being a beancounter I have my own - in 3 currencies. :lol:
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Re: Cost Of Living - Is It This Simple
Is the beancounter kind enough to share ?
Maybe i am missing something ? Stu |
Re: Cost Of Living - Is It This Simple
Very similar although mine starts with gross salary and is not as tidy as yours because it evolved from "shall we or shan't we" calculations. (I need to update it, actually, because I haven't accounted for the LAFHA and the car lease tax elements, but we haven't had a "normal" month yet.)
IIRC - I had a quick look when you first posted - you don't have Transport costs or Medical Insurance included. I know we'll never be able to guesstimate everything but I also have Health Supplements and, being a girl, an allowance for toiletries and haircuts. :D |
Re: Cost Of Living - Is It This Simple
Yeah i know i'm missing transport and medical
I guess thats where its tailored to my circumstances, fortunately for us, we have a company car and medical paid for by the company Stu |
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