How much money do you spend on expenses in total (Yearly?) What amount is left for savings?
How many people does this cover? I.e 1 person or family of 4 etc..
What Is Your Cost of Living?
GameChanger on 10/10/2015 - 12:31
Last edited 12/10/2015 - 13:43
Last edited 12/10/2015 - 13:43
Comments
there's two of them
Mine is easy. More goes out than comes in.
Last year for a single twenty-something year old living in a sharehouse, about $14,000 all up.
Young DINK's, Renting
for 2014
Total Expenses: 46K
Food: 2,500 (cooking and takes home made lunch to work)
Car: 3,600 (one car)
transport: 1,000
entertain: 4,200 (eating out, trips, movies)
Purchases: 5,000 (bought items, clothing, gadgets etc)
ATM: 4,000 (cash expen, not sure where it's gone)
Rent: 21,000
Utilities: 1,600 (electri, internet)
Savings: 43Kplaning to have a kid: how much would one of them cost for the first yers BTW?
DINK, renting, about $60k/year in expenses all up ($28.6k in rent), $65-75k a year in savings/house deposit/Eneloops
Thanks for posting this OP. I tried to do it but realised I have no idea and actually waste a lot of money. Need to reign that back in I think. Nice wake up I reckon.
Looking everyone's numbers makes me feel my wife and I spent quite a fair bit :| Roughly over the past 3 years, it's been…
2013 126K (wedding + honeymoon)
2014 120K (bought a new SUV)
2015 probably 65K by the end of year (first bub so we hardly go out)I have to admit we travel overseas every year and we pay for stuff for our parents. We still save 20-30% of our income.
How many people did you call for your wedding?
Your saving % is pretty decent!
it was about 110 ppl. Wedding costs were ~35k I think.
This is an approximation of my monthly expenses:
Rent+pro rata utilities:1900
Home Phone & Internet: 50
Pvt Health Cover*: 200
Mobile Phone: 85
Subscriptions*: 100-150
Gym: 44
Work coffee and lunch: 400
Eating out (socially)*: 800
Groceries and misc home stuff*: 500
Entertainment (video games, going out to movies etc)*: 200
Misc: ???? :D"DO NOT TOUCH"(savings):
3500 - 4000Some of the above marked with a (*) are for 2x people (although out of my pocket), and will seem unnaturally high. I typically pay for my partner as well when it comes to health cover, or eating out, as my take home is significantly higher than my partner's. Her expenses have not been included above.
There is plenty of "fat" in there that can be culled. However, not really keen to compromise on lifestyle as it is well earned. :)
On a side note, I am expecting a significant cost "rationalisation" once we do not have to maintain two residences.
Here's my monthly expenses for a household of 2 (my half). Home is paid off.
Rates + bills: $260
Internet: $60 unlimited
Mobile: $40
Coffee: $30
Work lunch: $250
Food: $300
Car expenses: $150
Entertainment + Ozbargain purchases: $200Total: $1290/month - $15480/year
In addition to that maybe $3000 for overseas travel + say $1000 tech purchase every other year. That brings me to about $18980/year.$1000 of my take home pay goes right into the savings account, the rest goes to index fund.
It used to be 90% investment 10% savings for me but trying to put together some money for a second property sometime in the near future.Too ashamed to post here. Expenditure varies like hell. Last two years have been hard- been contracting for last 10 yrs, so money is good, but daily rates have taken a dive, and consulting work has been scarce. Spend around 8k per month- can go higher at times, depending on impulse purchases. Renting, 2 adults, 2 school going kids. Savings 20k to 30k per yr, rest all tax to the Oz Govt.
Exit: Single income, wife takes care of me and kids. And tax appox 50k-58k per yr.
Earlier getting 1k per day, now 830 per day. So hurts if you are not working for six months. And yes, I donate to charity, and do pro bono work for charities.What industry out of curiosity?
IT, project management or Enterprise Architecture, depending on the role.
Don't feel obligated to donate to charity because you earn high income.
Someone who earns $150k is basically paying for 2 peoples centre links per year. Our tax system at its best,
Im a full time uni student that lives at home so expenses are pretty simple for me
This is on a weekly basis
Rent(not really rent,i pay my parents)- 100
the Savings for a rainy day- $100
Opal- $16
food/other - $50this is bare minimum, anything extra goes to food or savings.
Total expenses $29k a year for two people + food.
Any savings goes into the mortgage, or new phone, or holiday.
Monthly expenses for 2 adults and 1 preschool kid.
Mortgage - $1650
Private health - $250
2 cars (rego, insurance,fuel, maintenance) - $450
Grocery - $500
Other expenses(utilities, insurances, eating out, entertainment, clothes etc) - $500
Landline+Internet+2 Mobiles - $150I save approximately $1000 per month.
From a strictly budgeting / forecasting point of view, listing the essentials and your income is useless.
You need to add up everything and average it out. For example you go on a holiday every 2nd year and spend 5k, that should be in your monthly spend, same goes for stuff like TV's etc. because this year its a TV, next year a computer, the year after something else, you will be spending on these consumer goods constantly and should budget for it. You take cash out, that's an expense.
Some of the estimations in this thread are very well done, good to see so many people in control of their finances.
So you make $2310 a week after tax ?