![]() |
![]() |
#1 (permalink) |
Posts: 2,546
|
![]() Is earning $60,000 a year in Australia enough to live comfortably? I live in Sydney on the north shore (an area considered slightly more expensive to live in) and would like to continue living in this demographic. Would earning $60,000 be enough to live comfortably while living alone. I don't want many luxuries and never really buy anything particularly expensive, so would earning that amount provide a reasonable and comfortable lifestyle?
|
![]() |
![]() |
![]() |
#2 (permalink) |
Posts: 2,611
|
![]() Sydney is very very expensive, home rentals can run $600 Australian dollars a WEEK !
I dont think $60,000 is a lot to live on in Sydney at all unless you go and live in the less affluent districts. |
![]() |
![]() |
more.. |
![]() |
#3 (permalink) |
Posts: 2,604
|
![]() Let's look at the budget you would have. 60k before taxes is more like 48k after taxes, or $4000 a month.
10% of your monthly income should be going to long-term (retirement) savings: $400 a month. 15% goes to debt repayment/emergency fund: $600 a month goes into a regular savings account until you have at least 6 times your monthly income saved up ($24000). 35% goes to housing (rent, mortgage, bills, utilities, insurances, etc.): All-inclusive, you can afford monthly payments of $1400 a month. 15% goes to transportation (gas, insurance, repairs, bus): $600 a month. 25% goes to life (food, entertainment, clothing, gifts, travel, medical, wants, phone, internet, cable, other): $1000 a month, or $250 a week. |
![]() |
![]() |
![]() |
Bookmarks |
Thread Tools | |