neil32

Hey,

Not been on for a while as we decided to put our plans to migrate on hold as we decided to extend our family first so we are now a family of 4.

There has also been a change in my job, which was another factor in hanging off on migrating for now.

Anyway we are looking to start the ball rolling again and pick up where we left off, we are looking at Melbourne as my occupation is still on the list for state sponsorship.

My question is for families in Melbourne particularly those living in suburbs, we had previously looked at Pointcook for affordability.

Having researched salaries, cost of living figures we did previously, childcare cost etc, I am just looking for some guidance from families as to a likely salary required.

My starting salary would be $60-65k, my wife working 3 full days a week at $35k, kids in full daycare 3 days a week.

I have monthly outgoings I can send or post, but for a family of 4 living I know a joint income of $95k will be tight, but is this realistic.

Beoz

Depends what you are used to and your spending habits. What do you currently earn as a family in the UK?

Amazulu put me onto this site today. Really good site to work things out and make a good assessment. Probably some inaccuracies in some areas on the site but generally a good guide. Everyone is different so opinions on your own case don't really matter.

http://www.numbeo.com

neil32

Great I will have a look. In the Uk I'd say our income is £48-50k joint

Yeah appreciate there are so many factors involved, different people lead different lives. Just looking for a general idea from families to see if this is a realistic figure to live on or if its going to be a complete struggle.

We generally don't have much going on that involves spending a lot going out as kids are so young, the odd meal out now and again or lunch. I'd expect my salary to increase over time, but for the first few years before kids get to school I'll be looking at salary figures posted earlier.

I will post my figures later as that might give a better idea.

Buzzy--Bee

£50k in the UK will buy roughly the same as $125k in Australia. So on $95k you will probably not have the same standard of living unless you have a large capital sum to bring with you.

BB

Amazulu

Disagree with this as it will be different for different people/scenarios and the 2.5 ratio is pure BE mumbo jumbo

Your SOL or COL or whatever you want to call it will depend on your income, purchasing power, what you buy etc - many factors

2.5 is certainly not my experience as my overall COL is only marginally higher than what it would be in the UK

neil32

I always used to use the guide of 2.5 ratio, but would just like to know from families if that is a true guide or if $95k is a realistic figure to have a good standard of living.

We do have savings and a huge chunk of that will be used for the costs involved in migrating, we also have a good amount of money in our UK property that will not come with us until we do decide to sell in the UK, but we will rent in oz until then.

neil32

Some Monthly costs for family of 4 (2 adults, 2 x kids under 5), 3 bed house suburbs like pointcook, I have not inc childcare costs or rebates. Car costs are not for car loans, cars will be bought outright.

Rent $1,750, Water $70, Elec $92, Gas $50, Home Insurance $60
Broadband $60 Mobiles x 2 $120
Food & Toiletries $1,300
Life Insurance $75, Health Insurance $300
Travel fares x 2 $280, Car x 2 costs inc fuel $600
Clothes, entertainment etc $800

Buzzy--Bee

Some of those seem low, some seem high. $1300 for food and toiletries would be a lot more than we spend. $600 for cars inc petrol would be less.

£1:$2.5 works as a rough rule for me, but everyone is individual.

BB

Kiwikaye

Hi Neil, when we first came back to Melbourne, we (me, OH, 8yo and 4yo at the time) were living in my salary of around $60k. It wasn't easy but was doable. We were living in the eastern suburbs so could manage with one car and I took public transport to work, we made sure we were walking distance to school, etc. Our average weekly grocery spend is about $150 as we buy a lot of basics at Aldi rather than Coles or Woolworths, shop around for meat, etc. We bought our car outright too so no car payments.

The other thing you need to watch when looking at salaries in oz is whether it includes or excludes super. The current rate (I think) is around 9.5% so that makes quite a difference to the figures quoted.

neil32

Yeah some figures will seem high or low depending on individuals, hopefully I can get an idea if I am on the right track.

Kiwikaye thanks for the info, I remember now about the super so best to look for jobs that state $??k +super rather than $??k including super

Beoz

I used to guide it at about 2.2 and that was Sydney London but you are wherever to Melbourne. Again no one will be able to give you the definitive answer you are looking for.

Kiwikaye

Yes, you really need to check that. I find that the language usually states "salary" (excluding super) whereas "package" usually includes super and any other extras.

neil32

Thanks Kiwikaye

Appreciate Im not going to get a definitive answer, its a question that is based on individuals and their spendings, however if any families want to share their views on my figures compared to theirs then that would be great so I can get a feel for the outgoings

Beoz

All I know is I pay about double your rent figure but I don't rent cheaply. Mrs Beoz sorts out the smaller bills so I have no idea how they compare.

neil32

I think what I am better doing is asking what families in Melbourne that live in a 3 or 4 bed house spend on the below, and are my monthly figures realistic?

Water $70 (210 per 1/4)
Elec $92 (276 per 1/4)
Gas $50 (150 per 1/4)