Pound = $ 1-64

Old May 3rd 2011, 1:48 pm
  #76  
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Default Re: Pound = $ 1-64

Originally Posted by Loch Lomond
Bring it on. I settle on the house on Thursday and will transfer the proceeds to the Uk next week. Sorry to all the migrants coming out here to Oz, the constant sunshine doesn't make up for the mad high cost of living...especially with the Uk Aus ex rate.
Your lucky i guess, well lucky if you want to go back to the UK, timing is perfect...

But for anyone going the other way, well never been a worse time cost wise relative to the AUD GBP rate of exchange. I did some calcs, i know you can critique the process, but it really does sum up the situation.

Startup Costs = $20k, @$2.5 to £1 = £8k.........@$1.5 to £1 = £13.5k....thats £5.5k difference from what i would term value like for like cost of essentials in Australia relative to the UK.

A wage in the UK for me say £450.00 aweek after tax. @$2.5 to £1 = $1125.00 aweek after tax in Australia to give me the same spending power in Australia as i get from my UK £450.00 aweek.

Convert it back to Pounds say i was using savings or a pension in Sterling then...........

$1125.00/1.5 = £750.00 per week, thats £300.00 a week more to get the same lifestyle in Australia based on using Sterling to fund the same spending power of £450.00 in the UK relative to Australia.

Not a good time to cripple yourself at the moment, will it improve?????????????
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Old May 3rd 2011, 1:52 pm
  #77  
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Default Re: Pound = $ 1-64

Good job I'm bringing next to nowt
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Old May 3rd 2011, 1:53 pm
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Default Re: Pound = $ 1-64

Originally Posted by steen1976
Good job I'm bringing next to nowt
When you have nowt, you lose nowt, and all to gain...........good luck! Enjoy!
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Old May 3rd 2011, 2:35 pm
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Default Re: Pound = $ 1-64

Originally Posted by carling black label
When you have nowt, you lose nowt, and all to gain...........good luck! Enjoy!
A good way of looking at it bud!

Obviously we've a little bit for start up costs and we're losing enough on that though when we started looking it was October so was about only $1.65ish then. I can imagine it is an absolute hammer blow to those who planned cashing in equity a few years back but it's not someting I'll lose sleep over with our piddly funds.
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Old May 3rd 2011, 2:46 pm
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Default Re: Pound = $ 1-64

Originally Posted by steen1976
A good way of looking at it bud!

Obviously we've a little bit for start up costs and we're losing enough on that though when we started looking it was October so was about only $1.65ish then. I can imagine it is an absolute hammer blow to those who planned cashing in equity a few years back but it's not someting I'll lose sleep over with our piddly funds.
They say those with least in life are the happiest, i can relate to that, those with too much are always fretting about losing what they have too much of?

But if you have worked hard for it, well @1.5, its real hard for someone to at least see value for money, not a great time to emigrate if you need your savings to live off?
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Old May 3rd 2011, 8:05 pm
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Default Re: Pound = $ 1-64

I'll be going in 4 weeks and happily my only start up cost will be a car to get me around and it's looking like an old banger will be on my list.
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Old May 4th 2011, 4:56 am
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Default Re: Pound = $ 1-64

Originally Posted by carling black label
Your lucky i guess, well lucky if you want to go back to the UK, timing is perfect...

But for anyone going the other way, well never been a worse time cost wise relative to the AUD GBP rate of exchange. I did some calcs, i know you can critique the process, but it really does sum up the situation.

Startup Costs = $20k, @$2.5 to £1 = £8k.........@$1.5 to £1 = £13.5k....thats £5.5k difference from what i would term value like for like cost of essentials in Australia relative to the UK.

A wage in the UK for me say £450.00 aweek after tax. @$2.5 to £1 = $1125.00 aweek after tax in Australia to give me the same spending power in Australia as i get from my UK £450.00 aweek.

Convert it back to Pounds say i was using savings or a pension in Sterling then...........

$1125.00/1.5 = £750.00 per week, thats £300.00 a week more to get the same lifestyle in Australia based on using Sterling to fund the same spending power of £450.00 in the UK relative to Australia.

Not a good time to cripple yourself at the moment, will it improve?????????????
I see where you've gone wrong. You forgot to use the mythical 2.2 exchange rate that makes Australian cost of living OK. It's a schoolboy mistake that I made earlier in the thread or another related thread to use the actual exchange rate.
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Old May 4th 2011, 5:08 am
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Default Re: Pound = $ 1-64

Originally Posted by isgraham
I see where you've gone wrong. You forgot to use the mythical 2.2 exchange rate that makes Australian cost of living OK. It's a schoolboy mistake that I made earlier in the thread or another related thread to use the actual exchange rate.
Tut tut... schoolboy error indeed.

What you have to do is take your UK wage, multiple that by 2.2, then multiple that by the current exchange rate to get what you need to earn here in Oz to have a comparable standard of living.

So lets say 40k UKP x 2.2 = 88000 x exchange rate of 1.51 = $132,880

See how easy that was?

You do, of course have to keep adjusting that 2.2 number, according to the current real exchange rate, to make these calculations work
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Old May 4th 2011, 5:36 am
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Default Re: Pound = $ 1-64

Originally Posted by iamthecreaturefromuranus
Tut tut... schoolboy error indeed.

What you have to do is take your UK wage, multiple that by 2.2, then multiple that by the current exchange rate to get what you need to earn here in Oz to have a comparable standard of living.

So lets say 40k UKP x 2.2 = 88000 x exchange rate of 1.51 = $132,880

See how easy that was?

You do, of course have to keep adjusting that 2.2 number, according to the current real exchange rate, to make these calculations work
Don't forget the banana coefficient!
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Old May 4th 2011, 5:43 am
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Default Re: Pound = $ 1-64

Originally Posted by bcworld
Don't forget the banana coefficient!
God damn it. !! I just knew I'd missed something out somewhere. Do I need to start including the cucumber offset as well?
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Old May 4th 2011, 5:53 am
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Default Re: Pound = $ 1-64

Originally Posted by iamthecreaturefromuranus
God damn it. !! I just knew I'd missed something out somewhere. Do I need to start including the cucumber offset as well?
Dare I mention the lettuce ratio?
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Old May 4th 2011, 5:53 am
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Default Re: Pound = $ 1-64

Originally Posted by iamthecreaturefromuranus
God damn it. !! I just knew I'd missed something out somewhere. Do I need to start including the cucumber offset as well?
Oh god, I don't know!

Just make sure whichever ones you pick ensure that the COL is 'about the same'!
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Old May 4th 2011, 5:54 am
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Default Re: Pound = $ 1-64

Originally Posted by bcworld
Oh god, I don't know!

Just make sure whichever ones you pick ensure that the COL is 'about the same'!
I thought the point was to make £40k = $200k.
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Old May 4th 2011, 5:56 am
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Default Re: Pound = $ 1-64

Originally Posted by Rambi
I thought the point was to make £40k = $200k.
That's what I said!
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Old May 4th 2011, 5:58 am
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Default Re: Pound = $ 1-64

Originally Posted by bcworld
That's what I said!
Ah! Thought you might have been implying the other direction.
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