How would you spend the money?
Jul 17th 2011, 7:35 pm
#1
BE Enthusiast
Thread Starter
Joined: Apr 2008
Posts: 740
How would you spend the money?
All sold up and we are headed downunder with a couple of suitcases to face an uncertain future. I don't know if it was a good decision at early forties and with a young family to look after. I have never been unemployed before, so there is a bit of an uneasy feeling as well in the underbelly. But hey, everyone is doing it..... so are we. But at least we should be wise with our money because that's all we got now from selling property, car, deposits etc..... about $325,000 in AUD. I know its not a lot, but its not too small either. How would you go about spending the money?
Jul 17th 2011, 8:20 pm
#2
BE Enthusiast
Joined: Sep 2004
Location: London - but only until I can afford to move back to Sydney
Posts: 938
Re: How would you spend the money?
All sold up and we are headed downunder with a couple of suitcases to face an uncertain future. I don't know if it was a good decision at early forties and with a young family to look after. I have never been unemployed before, so there is a bit of an uneasy feeling as well in the underbelly. But hey, everyone is doing it..... so are we. But at least we should be wise with our money because that's all we got now from selling property, car, deposits etc..... about $325,000 in AUD. I know its not a lot, but its not too small either. How would you go about spending the money?
Jul 17th 2011, 10:56 pm
#3
Living our life wherever
Joined: Jan 2007
Location: came back to oz after moving back to uk but not settled here so uk here i come, last time im moving
Posts: 361
Re: How would you spend the money?
All sold up and we are headed downunder with a couple of suitcases to face an uncertain future. I don't know if it was a good decision at early forties and with a young family to look after. I have never been unemployed before, so there is a bit of an uneasy feeling as well in the underbelly. But hey, everyone is doing it..... so are we. But at least we should be wise with our money because that's all we got now from selling property, car, deposits etc..... about $325,000 in AUD. I know its not a lot, but its not too small either. How would you go about spending the money?
Jul 17th 2011, 11:51 pm
#4
Joined: Jul 2003
Location: Australia
Posts: 285
Re: How would you spend the money?
you shoould be able to get a nice house for that and still have 50k plus to help while you set yourself up, thing is it won't be near the center of one of the major cities (is that really a bad thing) just fill your ipod with lots of nice songs and enjoy the commute or work out of town alittle
Jul 18th 2011, 12:03 am
#5
Banned
Joined: Apr 2008
Posts: 592
Re: How would you spend the money?
All sold up and we are headed downunder with a couple of suitcases to face an uncertain future. I don't know if it was a good decision at early forties and with a young family to look after. I have never been unemployed before, so there is a bit of an uneasy feeling as well in the underbelly. But hey, everyone is doing it..... so are we. But at least we should be wise with our money because that's all we got now from selling property, car, deposits etc..... about $325,000 in AUD. I know its not a lot, but its not too small either. How would you go about spending the money?
Australia, i love it, if you do, well it will work because it works!
Keith
Jul 18th 2011, 12:28 am
#6
Auntie Fa
Joined: Nov 2006
Location: Seattle
Posts: 7,344
Re: How would you spend the money?
I'd leave most of it in the UK (or probably offshore) until I was certain I was staying in Oz.
Jul 18th 2011, 12:43 am
#7
Social Grenade Thrower
Joined: Jan 2008
Location: South Coast, NSW
Posts: 3,625
Re: How would you spend the money?
you shoould be able to get a nice house for that and still have 50k plus to help while you set yourself up, thing is it won't be near the center of one of the major cities (is that really a bad thing) just fill your ipod with lots of nice songs and enjoy the commute or work out of town alittle
Jul 18th 2011, 12:44 am
#8
Social Grenade Thrower
Joined: Jan 2008
Location: South Coast, NSW
Posts: 3,625
Re: How would you spend the money?
Leave it in UK and just sned some over occasionally IF and when you need it. Then when it becomes a bit better rate send it all over as deposit for a house, IF, you are staying permanently.
Jul 18th 2011, 1:07 am
#9
Auntie Fa
Joined: Nov 2006
Location: Seattle
Posts: 7,344
Re: How would you spend the money?
I think you need to weigh it up, exchange rate v relative interest rates, but as I don't have any savings (only debt!) I've never done the sums.
Jul 18th 2011, 1:15 am
#10
Lost in BE Cyberspace
Joined: Apr 2004
Posts: 10,375
Re: How would you spend the money?
It will probably spend itself the first few months 
After that, you can get 6.3% interest in OZ at call, but the ATO will take its chunk - banks are made to inform centerlink ATO etc of interest details in OZ.
Gawd knows where you would buy a house for 275,000 Might be a nice deposit.
Keep emergency funds at the ready. EG flights for emergency, family so X 4 you would easily need $8000 more at short notice.
Keep aside plenty for education and health expenses, especially with kids.
After that, you can get 6.3% interest in OZ at call, but the ATO will take its chunk - banks are made to inform centerlink ATO etc of interest details in OZ.
Gawd knows where you would buy a house for 275,000
Might be a nice deposit.Keep emergency funds at the ready. EG flights for emergency, family so X 4 you would easily need $8000 more at short notice.
Keep aside plenty for education and health expenses, especially with kids.
Jul 18th 2011, 1:44 am
#11
Just Joined
Joined: Mar 2011
Posts: 13
Re: How would you spend the money?
Quote:I'd leave most of it in the UK (or probably offshore) until I was certain I was staying in Oz.
Same! As you said you may don't like it here.
We arrived earlier this year and we are planning to be back in London by next Jan.
My husband hasn't found a permanent job yet and we found it very expensive here,so far this adventure turned into a stressful nightmare and I'll be glad when we can put it behind us. Good luck with everything! I hope your experience in OZ will be better than mine.
Same! As you said you may don't like it here.
We arrived earlier this year and we are planning to be back in London by next Jan.
My husband hasn't found a permanent job yet and we found it very expensive here,so far this adventure turned into a stressful nightmare and I'll be glad when we can put it behind us. Good luck with everything! I hope your experience in OZ will be better than mine.
Jul 18th 2011, 4:47 am
#12
Crazy Cat Lady
Joined: Apr 2004
Posts: 65,493
Re: How would you spend the money?
I'd send it to me. PM me for my bank details.
Jul 18th 2011, 6:09 am
#13
Mostly Harmless
Joined: Jan 2010
Location: Semi-rural wonderworld, Brisbane
Posts: 15,109
Re: How would you spend the money?
you shoould be able to get a nice house for that and still have 50k plus to help while you set yourself up, thing is it won't be near the center of one of the major cities (is that really a bad thing) just fill your ipod with lots of nice songs and enjoy the commute or work out of town alittle
We paid $310,000 5 years ago and live about an hour from Brisbane CBD (on a very good commuting day), we thought this was a pretty good deal and going on the current market we haven't changed our mind. I guess there is cheaper to be had in places like Inala but they are cheap for a reason ...
Enjoy the commute? There some things even a stack of good tunes won't fix and wasted time is one of them.
Jul 18th 2011, 12:05 pm
#14
Possum. Amiculum. Latrina
Joined: Jan 2011
Location: Footloose
Posts: 3,427
Re: How would you spend the money?
Definitely leave the money in the UK. The AUD has to fall and sterling will appreciate when interest rates begin to rise. Only bring in what you need. Aussie housing market is a bubble waiting to burst in many people's views.
