# Is a salary of 100,000 AUD sufficient?



## Zylinx (Oct 8, 2010)

Hello experts,
Thanks for this forum,it has been useful to me many times in the past.I have been offered a job in Brisbane with a annual salary of 100,000 AUD. Do you think that's good enough? I am single as of now but I plan to have a small family soon which I will support.I have gone through the cost of living sticky thread and it seems that I (and my future small family) will be comfortable with this salary.Can I have a good lifestyle with reasonable saving potential so that I can buy a house later on?

After tax(30%) I hope to have around 70,000AUD per year,which is approx 6000AUD per month.

This is the monthly breakup that I had in mind for a small family :
Rent (1500$)-hope for a 2BHK not too far from CBD.
Gas/electricity/phone/cable/-(500$)
Food (1200$)
Misc family expenses (800$)
Transport (500$)

I think I will have approx 1500AUD savings per month according to the above breakup and if my wife is not high maintenance probably a bit more(just kidding).

Thanks in advance,I am looking forward to your responses.

-- Zylinx


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## EE-India (May 16, 2009)

Zylinx said:


> Hello experts,
> Thanks for this forum,it has been useful to me many times in the past.I have been offered a job in Brisbane with a annual salary of 100,000 AUD. Do you think that's good enough? I am single as of now but I plan to have a small family soon which I will support.I have gone through the cost of living sticky thread and it seems that I (and my future small family) will be comfortable with this salary.Can I have a good lifestyle with reasonable saving potential so that I can buy a house later on?
> 
> After tax(30%) I hope to have around 70,000AUD per year,which is approx 6000AUD per month.
> ...


Hi

Congrats , it is an achievement getting job in Oz sitting outside 

100K is a reasonable salary to start with and your expense estimation is very close to actual , so no worries , if you are satisfied with 1.5K savings , then can give a try

BTW, 100K is inclusive of super ? It is normally 9% of your base salary


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## Zylinx (Oct 8, 2010)

EE-India said:


> Hi
> 
> Congrats , it is an achievement getting job in Oz sitting outside
> 
> 100K is a reasonable salary to start with and your expense estimation is very close to actual , so no worries , if you are satisfied with 1.5K savings , then can give a try


Thanks mate,when you worded it that way,I guess the real question in my mind is, should I be satisfied with 1.5K savings per month.I plan to buy a car in the near future and a house maybe in the future.



EE-India said:


> BTW, 100K is inclusive of super ? It is normally 9% of your base salary


I will have to check that.Thanks!

-- Zylinx


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## EE-India (May 16, 2009)

Zylinx said:


> Thanks mate,when you worded it that way,I guess the real question in my mind is, should I be satisfied with 1.5K savings per month.I plan to buy a car in the near future and a house maybe in the future.
> 
> 
> 
> ...


Buying a car is no matter here , you can easily avail the finance , it will save the tax too

But house is long term view, I have no idea about the potential that you need for house . In general 5% of property valaue in bank savings will help you to bid for any property 

cheers


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## Halo (May 8, 2008)

Its all relative... $100k is generally plenty to lead a decent life in Australia.
(No Porsche though)


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## annjacob16 (Oct 15, 2010)

hi in aus per month max expense for a month for a family is maximum 2500 including rent..... congrats . i lived in aus for 2 years.... how did u mange to get job... we are now trying to go back to aus....


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## Halo (May 8, 2008)

annjacob16 said:


> hi in aus per month max expense for a month for a family is maximum 2500 including rent..... congrats . i lived in aus for 2 years.... how did u mange to get job... we are now trying to go back to aus....


$2500 for a family... I think not


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## smcc3573 (Jun 22, 2010)

I have to admit I have 150k package (including super) and its almost not enough. Ok I live in Mosman but we need to be in the north as my daughter goes to German school and I work in CBD. if you have no kids I would say 100k is doable but without LAHFA it would be tight.. I agree that 2500 isnt going to cover it, unless you really are going to cut to the bare minimum. 
Buying a house on that salary... again it all depends where you are going to live but if its Sydney or Melbourne forget it. I dont know about other areas


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## Dolly (Feb 17, 2008)

Mmmm, I think rent would be at least $1500, then food (say $1K), you'll have utility bills on top of that (gas/electric/water/phone), maybe Foxtel/Austar, petrol, car insurance, rego, health insurance. You'll also have pet registration fees, school fees, school books....can't think of anything else at the moment.

Dolly


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