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Perthites - can you live on $62000?

Perthites - can you live on $62000?

Old Jun 17th 2005, 3:08 pm
  #1  
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Default Perthites - can you live on $62000?

Sorry about this - I see a lot of these - please can someone point out just how poor we'll be on this income so I can prepare the wife? 2 kids, normal rental.

All comments welcome!
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Old Jun 17th 2005, 4:38 pm
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Default Re: Perthites - can you live on $62000?

Originally Posted by NKSK
Sorry about this - I see a lot of these - please can someone point out just how poor we'll be on this income so I can prepare the wife? 2 kids, normal rental.

All comments welcome!
I think you will do fine on this wage. Obviously it depends on what you are used to earning and spending but I would say that this should be enough to keep you comfortable.

If it wasn't 23:30 I might try and do a basic run down of perth costs, but it is and the info probably exists on the forum somewhere anyway.

All I will say is an average rental (not beachside though) is probably around the $240-$250 per week mark, so if you also said your food bill will be similar, for food and accomodation you will be paying $25,000 pa for a roof and food (some of you bills will be paid in with your rent - shire rates, and base water bill), so I would say that you will be fine. This is very basic and there are many other things to be factored in (cars, schooling perhaps) but if your food and house is less than half of your basic income then I am sure you will do ok.
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Old Jun 17th 2005, 5:01 pm
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Default Re: Perthites - can you live on $62000?

Originally Posted by NKSK
Sorry about this - I see a lot of these - please can someone point out just how poor we'll be on this income so I can prepare the wife? 2 kids, normal rental.

All comments welcome!
I guess it depends as well if the Australian Tax Man needs to take a cut out of the $62k as well - are we talking pre or post tax dollars?

Chris
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Old Jun 17th 2005, 5:03 pm
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Default Re: Perthites - can you live on $62000?

Originally Posted by chris n
I guess it depends as well if the Australian Tax Man needs to take a cut out of the $62k as well - are we talking pre or post tax dollars?

Chris
When does the Medicare thing kick in?

M
 
Old Jun 17th 2005, 5:05 pm
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Default Re: Perthites - can you live on $62000?

Originally Posted by chris n
I guess it depends as well if the Australian Tax Man needs to take a cut out of the $62k as well - are we talking pre or post tax dollars?

Chris
Oh, most definitely pre. I've already been on to the ATO website! I think the deuctions total $15000 plus medicare (but without adding on Family Tax B, child care and rental assistance).

(Surpisingly, the tax deduction is just about exactly equal to my deductions here in % terms)
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Old Jun 17th 2005, 5:07 pm
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Default Re: Perthites - can you live on $62000?

Originally Posted by darkless
I think you will do fine on this wage. Obviously it depends on what you are used to earning and spending but I would say that this should be enough to keep you comfortable.

If it wasn't 23:30 I might try and do a basic run down of perth costs, but it is and the info probably exists on the forum somewhere anyway.

All I will say is an average rental (not beachside though) is probably around the $240-$250 per week mark, so if you also said your food bill will be similar, for food and accomodation you will be paying $25,000 pa for a roof and food (some of you bills will be paid in with your rent - shire rates, and base water bill), so I would say that you will be fine. This is very basic and there are many other things to be factored in (cars, schooling perhaps) but if your food and house is less than half of your basic income then I am sure you will do ok.

Thanks for this - we've never exactly been rolling in it (in the UK) - teachers don't tend to! (But we do enjoy the 14 weeks holiday!)
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Old Jun 17th 2005, 5:13 pm
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Default Re: Perthites - can you live on $62000?

Originally Posted by NKSK
Thanks for this - we've never exactly been rolling in it (in the UK) - teachers don't tend to! (But we do enjoy the 14 weeks holiday!)
The main thing is happiness and contentment.

Good luck
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Old Jun 17th 2005, 5:17 pm
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Default Re: Perthites - can you live on $62000?

Originally Posted by NKSK
Thanks for this - we've never exactly been rolling in it (in the UK) - teachers don't tend to! (But we do enjoy the 14 weeks holiday!)
I know!!, my wife is a teacher too (primary)

Seriously though, I think you will be fine. There are plenty of things to do in Perth with cost little or no money that you will find yourselves doing more for less (if you see what I mean)

Taking your tax off the $62,000, still leaves you $47,000, minus the $25,000 (food and rent), give you $22,000. Assuming you don't have to get car loans etc, then I am sure you will be ok on this.

My tip of the day: Assuming you are not a proper wine buff, buy wine by the box - 4 or 5 litres (so what 5 or 6 ish bottles) for $10 to $15 - that is $2 per bottle! - so given you will initially by converting, that will be say 80 pence per bottle. Yes it wont be the best wine you have ever tasted, but certainly ok for a glass of two of an evening, enjoying the sunshine (not at the moment though) after a day in the classroom

When and where are you heading in Perth?
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Old Jun 17th 2005, 5:25 pm
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Default Re: Perthites - can you live on $62000?

Originally Posted by darkless
I know!!, my wife is a teacher too (primary)

Seriously though, I think you will be fine. There are plenty of things to do in Perth with cost little or no money that you will find yourselves doing more for less (if you see what I mean)

Taking your tax off the $62,000, still leaves you $47,000, minus the $25,000 (food and rent), give you $22,000. Assuming you don't have to get car loans etc, then I am sure you will be ok on this.

My tip of the day: Assuming you are not a proper wine buff, buy wine by the box - 4 or 5 litres (so what 5 or 6 ish bottles) for $10 to $15 - that is $2 per bottle! - so given you will initially by converting, that will be say 80 pence per bottle. Yes it wont be the best wine you have ever tasted, but certainly ok for a glass of two of an evening, enjoying the sunshine (not at the moment though) after a day in the classroom

When and where are you heading in Perth?
Thanks for the alcohol tip.We won't have a car loan (but we will probably have a heap of iron!)

Arrive mid-July. Southern suburbs ideally.
Initially staying with a friend whilst I find somewhere. Family follow - probably mid August.
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