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Cost Of Living - Is It This Simple

Cost Of Living - Is It This Simple

Old Jun 30th 2008, 12:35 am
  #16  
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by maxtye View Post
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 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.
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Old Jun 30th 2008, 12:44 am
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Default 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.
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Old Jun 30th 2008, 12:44 am
  #18  
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by maxtye View Post
Wife, 2 young children & 2 dogs.

By the same token, do you think 25K is low for a UK salary.
On a personal level I think 25k in UK is low when you have a family, kids and pets as well, unless your wife is working and bringing in more income. It of course depends also on where in UK you live and work and whether or not you have a mortgage etc.
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Old Jun 30th 2008, 12:49 am
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by JAYMAC View Post
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
Probably true where you are although alot of people down here like to get up to Queensland or wherever for some winter sunshine.

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.
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Old Jun 30th 2008, 1:13 am
  #20  
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Default 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
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Old Jun 30th 2008, 1:20 am
  #21  
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by markallwood View Post
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.
If they're PR (on $50k) and got 2 kids then they will get some child benefit which will increase their weekly disposable a bit. From memory if you have 2 kids then the child benefit equals the tax taken at about $40k.

Last edited by MartinLuther; Jun 30th 2008 at 1:22 am.
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Old Jun 30th 2008, 8:29 pm
  #22  
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by perksy View Post
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.
mmm, the outskirts of middlesbrough can be very oooww la la. Not all red and white army, terrenced houses and we have a sainsbury's too! But I do know where you are coming from.
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Old Jun 30th 2008, 9:09 pm
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by maxtye View Post
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.
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Old Jun 30th 2008, 10:40 pm
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Default Re: Cost Of Living - Is It This Simple

Think i'm even more confused now
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Old Jun 30th 2008, 10:50 pm
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by ann View Post
terrenced houses
Stamp or Venables?
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Old Jun 30th 2008, 11:59 pm
  #26  
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by brissybound View Post
I earn around 28K in the UK and definately dont think its a low salary.
The Aussie conversion would be at the low end though - rounded out to $56K it would be a struggle with a family. My son is on about that level in UK and he doesnt think he is hard done by either - he manages to spend (and even save) much more than we do on a super income of just a bit more than that.

So in answer to the original question IMHO if you are comfortable in UK on $25kpa you will be struggling in Aus on $50k.
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Old Jul 1st 2008, 12:28 am
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by quoll View Post
So in answer to the original question IMHO if you are comfortable in UK on $25kpa you will be struggling in Aus on $50k.
I completely agree. We were probably on a little less than 25k in the UK and there is no way we could survive on $50k here. Hubbys basic is $56k and thats not enough either - he does lots of overtime and brings home around $1250 per week - we do ok on that. So thats $65k take home and when you bare in mind that $37k of that goes on household bills etc (as mentioned in my previous post) that leaves us with $28k ($538 per week) per year for spending money, holidays, after school activities, rego etc etc etc.

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
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Old Jul 1st 2008, 2:16 am
  #28  
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by maxtye View Post
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.
it depends on other factors how much savings you are bringing, what kind of lifestyle do you want, how many are there of you?

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.
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Old Jul 1st 2008, 2:29 am
  #29  
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by MartinLuther View Post
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.
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Old Jul 1st 2008, 2:30 am
  #30  
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Default Re: Cost Of Living - Is It This Simple

Originally Posted by Seasider View Post
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]
I hadn't thought of that before. Very good point.
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