It's always hard me for to track how I'm going financially, I don't feel comfortable asking my friends their salary, so I though I would ask the OzBargain community.
Usually when you ask these questions you get lots of people posting that earn big money and not many average earners.
I ask this question as I feel like i'm going well for my age but still really struggling to make any progress in terms of saving. Would be good to see how others also spend their earnings.
Indeed. Beer.
As the wise old Elf says,
'How much you earn at a certain age is not important, but rather how well you plan your financials before you get married and subsequently divorce'
If you would like more advise, please feel free to contact me on 1300 ELF ELF.
Age: 38
Job: IT PM
Salary = 120K
Debts: 1 investment property 560K, 1 living home 290K, a small car 29K
Rent: 0
Rental income : 23K
Savings : 300K (in offset)
2 Kids
Expenses: food $200 pw, Travel : 0 (petrol is billed to another business I have), entertainment: $200 pm.
Utilities - approx 80p.w
Age: 37
Job: Mechanical Engineer
Salary = 105k+Super
Debts: 1 investment property 250k (350K value), 1 living home 300K(325K value), a small car 4K
Rent: 0
Rental income : 12K
Savings : 20K (in offset)
1 Kids
Expenses: Saving 20k per year, everything else is expense which is 52k per year (72k after tax income).
Looking for some easy job with 70k before tax income so that I can live my life than worrying about making more money
Age:23
Salary 80k + super
Expenses : about 1500 per month.
Rest is savings going towards deposit
Go get a life you number cruncher.
Money doesn't have any value at all!!!!!.
It all depends on your happiness. You might tell me saving money makes you happy, does it ? no - it makes you worry too much …I know people from few different backgrounds, a they waste their time thinking of which 2L milk to buy.
If you want to argue with this idea, then go and find yourself a terminal illness and learn it by yourself….
there's some super well paid earners on here. makes you wonder if it's even worth their time browsing this bargain site.
I'd say a lot of them are either adding another 0 to their actual income, or misread the thread title as 'what's your dream income?'
They're not browsing, they're just trolling.
They could probably afford to outsource their ozbargain browsing
Age: 28
Salary: 75k package (Programmer)
Monthly Expenses: $1100 rent, $900 food and entertainment
HECS debt: 18k
Saving up for a house deposit.
20 year old uni student.
Earnings: ~30k pa
Expenses: manage to keep it at a minimum around 15k
Savings: ranges from 8-10k pa.
That 5k somehow gets lost no matter how tight a leash I keep on my finances.
Pilot in the Pacific
29yo
Salary $10k/yr
Hecs debt: $150k
Rent: Included in package
Expense: $100/wk
Car: company transport
The effects of reading this thread?
FML FML FML should've just did any other occupation for $100k
$10k/yr? I hope that was a typo!
Sadly not
How does that work? That can't be a full time salary.
Well firstly I'm working overseas in an underdeveloped pacific island. Second most people like myself are willing to sacrifice luxury to build flying hours
22yo, 85K in a 9-5 Engineer role. Living at home so my expenses are about:
$500 a month to parents to help with mortgage/utilities/bills/maintenance/rates/internet/phone plans - siblings also contribute similar amount.
$500 a month on food (Approx $20 per day eating out) - I know this is alot, starting to cut back.
$50 a month on health (Gym, protein supplements)
$100 a month on entertainment/living life
$100 a month on personal/hobbies (upgrades to tech, guitar etc)
$150 a month on Car (average takes into account fuel, insurance, rego) - cheap 2001 mazda, self maintained/serviced; no high yield investment here.
Lots of money to spare at the end of each month, getting close to 40k in savings now so looking for investment opportunities, just not sure where yet, got about 5k in a Vanguard ETF. Still don't see myself getting into the Sydney housing market anytime soon….
In what industry/engineering field may i ask?
BIM/Digital Design. In a nut shell, I design solutions for complicated problems and then present them using CGI/3D renders to clients.
Can you point me in the right direction for vanguard ETFS. I have been reading up and I'm somehow under impression that I must put more then 5k in.
How much has 5k yielded you over the years?
~$50kpa pre tax, pre super (self employed)
~$40kpa after super & tax
< $22kpa expenses (usually < $20kpa)
Expenses include mortgage repayments (on a low balance now), council rates, water, gas, power, house insurance, car insurance, health insurance (which I probably don't need), food, clothes, other household goods like toilet paper & whatnot, internet, phone, annual holiday and occasional night out money.
My name's Dan Wilson. I run Iowa's largest wildlife preserve.
No one in retail posting..
I'm 32
Salary 86k inc super
Wife in reception 50k + super
3 year old daughter
1 IP owe 360k valued (560k value)
1 occupied property owe 320k (550k value)
1 lease car 670pm
1 loan car 820pm
Total expenses PM $7547
(Rates, regos, car ins, home ins, landlord ins, electriciry, gas, 2 phones, internet, daycare, food etc.)
Total income PM $9101(inc rental return)
Total savings PM $1554(+ bonus + tax return) which are not guaranteed
How do you earn $41/hr in retail?
Retail management can pay a hell of a lot more than that. It's not unreasonable for a Supermarket Store Manager to be on well over 120k inc super. They work the hours for it though with 7-6s
I chose to stick with 40 hour weeks out of supermarkets to keep with my work life balance.
I've been in the same group since I was 16 and pay has increased through different management roles.
Well done mate!
Age. Late 20s. Income (of whole package, few k under the top income bracket).
Rent: tad over 600/week. Dont own a car.
No real expenses bar internet and food.
Spend lots of eating out, gym suppliments, video games, going out/music festivals, international travel and clothing/brand name shit.
It's increasingly clear from this thread that "housing affordability" is really about income inequality.
Some of these replies.. not sure if lying or I am definitely in the wrong field.
28 YO
Solicitor (work for an Insurer here in Melbourne)
85k + Super. I just got this and it was bloody hard negotiating this too, was on 75k+ Super previously .
Live with parents - $0 on rent
0 Dependants
Drive a VW golf - paid off
Monthly bills: 400
65k hecs debt
Drug habit - varies from 300-600 a month
Social expenses (drinks, going out etc) - varies
The good drugs I assume?
Sounds like a decent coke habit that varies between 1 ($300) to 2 ($300) grams a month.
My understanding is that the field is pretty competitive, so that's going to drive wages down somewhat, I'm guessing?
Age: 23
Job: Optometrist
Qualification: Master of Optometry
Salary: 96k
HECS debt: 35k
Expenses:
Mortgage: 1100/month
Car: 1150/month
Living costs: ~ 400/month
Are you in metro or rural? Is that salary include super?
Based on his age , income and mortgage, it is probably regional or Perth as housing is cheaper. Super is probably excluded. Those in the metro earn 30~40% less. (Source: Friends work in the optical industry)
How so much when most optometry services are bulk billed. Nevermind, over priced prescription spectacles is where the money is.
@TightBottom:
Based on the HECS debt, it would safe to assume a 3 years bachelors (Science)? and 2 years masters was completed. I would say for these qualifications and working location, this remuneration is appropriate. Regardless, based on the forms of revenue streams present as you mentioned, its more likely this income will remain stagnant, less potential for growth compared to IT, engineering, medicine (specialization).
FYI most medical services and allied health provider are not bulk billed in rural areas.
You say tailor made prescription spectacles are overpriced, I say, anything tailor made or bespoke cost more compared to products mass produced using moulds, and the reason why is pretty obvious…especially living in Australia.
Age: 20
Job: conscripted personnel overseas
Qualification: VCE haha
salary: $650 a month
expenses
Rent: 350 a month
phone bill:30 per month
transport: 60-100 per month
food and amenities: 100 per month
savings: 200~ (all in on one single tesla share hahahahah)
edit: the tesla share is now worth 350 :)
Your expenses are equal to or greater than your income, did you write that correctly?
my expenses are about 600 a month, how is it incorrect?
thr savings I mentioned is everything I have so far
I make how much i can steal from my
Local milk bar usually between $12 ~ $672 per robbery plus a few mars bars and kit kats (estimated value $7)
The stuff i can sell from houses me and my Apex friends robbed $56 ~ $12000 split between 2 to 17 people all of questionable integrity
and lastly
How much I can get for providing sexual favors for lonely house wives and fat women $30 ~ $3000 plue tips
PLUS these are all cash jobs so i get new start $250 a week
Expenses
Crow Bar 12$ from bunnings
Video Camera and tapes $200 + $4 to blackmail the married women for an additional $20 or to sale back to the fat women for good memories $25
Internet $200 per month
Phone $200
Maserati lease 400 per week
food $400 per week mostly smashed avo + at least $200 on coffees if you count de-constructed ones its $400
If i ever need a bit of extra cash i torch the car and get the insurance money easy 200K
it does not much how you get paid but how much money you have left over after all your expenses.
eg I earn 200k+ per year(not my whole life just the last 3 years) and I have 3 children which does not leave much after expenses believe it or not. I am not saying I am struggling but I certainly cannot just buy whatever I want, whenever I feel like it.
Sydney is very expensive.
I work in IT have a mortgage of 2500/month. 2 cars $900/month combined. 2 old cars.
also i ran into financial trouble about 5 years ago and my credit rating is in the toilet. have to pay everything in cash. cannot rely on credit cards in an emergency as I don't have any nor can I get any loans.
lesson to be learned here is do not live above your means and get into a mountain of debt you cannot afford to pay back(like me)
Thanks for your honesty. Care to elaborate any further? What financial trouble did you get in and what type of debt caused this?
i had way too many credit cards with huge limits like 25k 15k etc. i kept trying to juggling all my expenses and spending sprees by using them and maxing them out. It eventually it all caught up with me. had no way to pay them back. probably lost about $200k in the process over 5 years.
Wow. Did you go bankrupt?
@antt: did not go bankrupt, but paid some debts by agreeing to pay off the balance in a lump sum(received 50% or more off the original balance). So paid $30k for 3 debts totalling $80. Some debts I am still paying off.
If you call the debtor you csn always come to some sort of agreement by filling out a statement of financial position. This is provided you have a job and earning a steady income.
@dlakers3peat: You must've been through a really tough time mate. Glad to hear it sounds like you are on the right side of it
Thanks for sharing your story and for the advice. I hope better times lie ahead
Thank you to you both. I hope so to
Early 30, combined income little over $200k and no kid.
Me in IT industry, makes more than missus. (circa 10 yr exp + bachelor degree)
Rent $400/w
Entertainment $500/m
Groceries $300-$400/m
Car expense $300/m
Bills $500/m
Miscellaneous $500/m
Overseas travels twice per year etc etc.
Saves roughly $5k/month.
Strangely to see all young and high income earning IT folks in comments, since all the $$ making management I know around the town is late 30 to early 40.
I'm 25yo, on $320k/year, with my own mini-mansion, 7 hot harem biatches (there's 7 days in a week yeah) and a goldfish called Harriet.
Unfortunately i'm in Sydney so given the cost of living will need to leave within a couple of months…
You know you've made it when you got the harem bitches XD
28yo married with wife
Combined income after tax: $120,000
Spending ~$4500/month
Mortgage: ~$1669
Home maintenance/insurance/rates: ~$200
Groceries: ~$450
Utilities/phone bill: ~$300
1 Car incl petrol and 1 motorcycle: ~$500
Medical stuff: ~$150
Clothing/sport: ~$300
Vacations: ~$400
Misc: ~$500
Savings rate ~55%
33yo
Combine inc 185k plus super
Self employed
Investment 1 - 1.3 mil debt (worth 1.85mil)
Investment 2 - 1.53 mil debt (worth 2.5 mil)
Investment 3 - 500k debt (worth 1.3 mil)
Investment 4 - 292k debt (worth 561k)
Still live with parents. 1 toddler. 2 cars paid off. Exp 15k plus inc mortgage per month.
Welcome to Sydney. Work for 12 hrs a day 6 days a week for the last 5 years.
Jesus Christ. Goodluck!
30yrs, single, live in Sydney
Income before tax, exc. super $110k, work in Engineering
Rent: 2-share house $300/wk(my share)
Utilities: Elec ~$65/mo, Internet: $30/mo, Mobile $70/mo, Netflix+Spotify: $10/mo
Health Ins: $30/wk
Gym: $9/wk (after $100/yr rebate from insurance)
CC bill end of the month, ~$1500/mo: on groceries, restaurants, night outs, buying junk seen on OzBargain.
Withdraw $50 cash every other week.
My folks don't work, give them $500/mo for expenses.
5% of the salary(after tax) goes to the CMC markets account (I let it collect and buy shares every so often)
15% to a special savings account that I use exclusively for travelling (travel overseas/interstate every long weekend) - this account also funds the $1,200 annual fee for AMEX platinum, $225 on ANZ rewards Travel Adventures.
What is left goes to savings.
No car (I live 15min bicycle ride away from work/city), was too much of a hassle to maintain one (EDIT: Go-get $49/yr).
As the Chinese say: 你真是个孝顺的孩子。(You're a filial child).
cheers!
At least I have someone to visit me in prison if ATO gets me after seeing this post :/
25 / single / living with a relative.
Job: IT
Income: 60k all in
Rent: Free
Grocery + Food: $400 / m
Fuel: $180 / m
Car Payments: $500 / m
Others (Subscriptions): $50 / m
I used to be very frugal with my savings having a spreadsheet and all to track down to the last cent. I spend little on hobbies and basically live on minimum as much as I can, but I was unhappy. I woke up one day feeling pissed and I just spent 20% of my savings and bought watches. Financial decisions at its worst, but I found a new hobby albeit expensive.
Yeah, I know what you mean. We have to find the right balance between being frugal and still spending enough on travel, hobbies, recreational activities to maintain happiness and life satisfaction.
I know I personally couldn't just save all my money. You've got to enjoy yourself just a bit
30/de facto/living with partner
Job: Health Care
Income: 240,000 pre tax
Mortgage: 2900/month
Grocery/Food: 1000/month
Fuel: 1000/month ( paying for the usage of 3 cars ( parents and mine)
Incidentals: 1000/month
Health insurance: 210/month
Phone/internet 350/month ( for 2 house holds)
Car insurance 67/month
Home insurance 74/month
But If I added all my expenses last financial year, it works to be about
182k over 12 months. Just realized I have probably spent over 150k on credit card
O_o…
What specialty? Public or private?
Let me get this out there. I'm poor.
25-year-old female permanent resident
Studying post-graduate at UNSW
Rent: $200 per week for a room in a sharehouse
Food: $80 per week
Electricity and Gas and internet: around 50$ per month
Phone: $20 per month (Kogan)
No Health Insurance
I work casually through Airtasker. Earn about 1000$ a month and spend about 800$ leaving about 200$ for savings. Use savings to travel mostly, no plans of buying a house or anything permanent. Have an undergraduate degree in Economics from University of Nottingham and have applied to over 500 jobs since moving to Sydney in 2015. Attended over 20 individual interviews that led nowhere. Seems like it's really difficult to get a job without local link/experience so I thought I might as well enjoy the freedom that comes with not having a day job or a 'permanent' life.
Not easy to get a job with just an Econ degree in this market
Also it gets harder the longer you are not working in the field (interviewer starts wondering why you are unemployed or not in the industry area)
Hope your post-grad degree is worthwhile!
The older you get, the harder it is to breakthrough in the job market.
Students living in poverty sounds just about right.
22 $67K a year work in IT (First job after graduating )
Live at home, no rent, expenses are $250 or so in general bits per week (lunch x5 usually with clients or colleagues + Friday and Saturday night out + daily myki+ occasional take out coffee) I normally use the Automatic machine at work.
Phone is work supplied
4 years ago, was 27yo
182k/y incl super bonus etc
Senior technical analyst role in IT/telco
2 mortgage total 680k
Expense around 5k per month plus mortgage
Save around 3k per month
Now completely different field, work for my self and luckily earn more than that,paid off the mortgage but now ended up with much bigger mortgage
37yo
89k/y incl super + unlimited fuel card (i normally use 2k+/yr)
PM role in IT
Total expense about 4k/month inc mortgage
hardly save anything
and now we have a new addition to family and soon CHILDCARE! :(
feeling underpaid with all the comments here so looking to jump to another co.
Childcare isn't too bad. We pay $92(46 per day) for 2 days a week after rebate. It's the nappies and formula that kills it! Our grocery bill halved once my daughter was done with those!
I would also encourage you to try for another role with a different company. At the right company you could be earning more than 150k. Hint: large corporates, banks appear to pay more. I'm fairly certain that the company I work at would be paying that or more for IT PM's. (Obviously with the right amount and type of experience)
Thanks for the advise. im actually doing that now, going for an interview tomorrow for an Account Management role as opposed to PM. with AM you get uncapped comm and all so… wish me luck!
Dude get out of there. You're on less than a shift worker on the service desk where I am.
Age: 28
Job: Site Engineer
Salary = 100k
Debts: 1 investment property 410k, 1 living home 740k, 1 car
Home Loan: $950/week
Rental income : $390/week
I've been collecting Bitcoin since 2009, got about 2,000 of them by 2011, never sold a single coin…
25yo, living in Melb, south eastern suburbs.
Building automation engineer 2 years out of graduation.
65k before tax. At least company pays for everything, parking, fuel, work clothes (only need them for site visits / commissioning equipment) and the usual stuff like phones and laptops.
I'm underpaid in the field, I may have low balled my offer as a graduate 2 years ago as I was desperate, but hey, I got the job out of 200 applicants.
At least now I have really big jobs under my belt and on my resume, I programmed chadstone new section, doing rod laver arena at the moment and systems for data centres, countless building in the CBD.
Have a ~40k HECS debt.
Own my own car, just bought a house 1 hours drive from CBD, atm renting 40 minutes drive from CBD.
I only get to save like $100 a week.
I dunno what to feel, seeing all these comments, I see some have really easy jobs and more pay then me, lucky I guess.
You've got two years experience under your belt, is it possible now to leverage that by getting another role with another company for significantly more dollars? Jumping from job to job can work really well dependimg on the job type and industry because you can increase your salary by significantly more than most companies would be willing to give a pay rise for if they keep you. Can you gauge what other engineers like you are getting through your networks or by asking recruiters what you should expect salary wise, then state that as your salary expectation when applying for new jobs (you're not obligated in any way to tell them what you're currently on, only what your salary expectation is).
completely understand your situation and im in a similar situation but trying to do something about it now and moving on to another job.. you might want to do the same after you finish some of your big projects. will look nice for your CV as part of your portfolio and experience! good luck!
i started to think that the gender pay gap is real, i feel like i am underpaid reading all these post.
i have 2 IP that producing a rental income $1000/week, this is probably why i never actually realise it.
$2100 repayment a month in average as it is in interest only.
Run a small IT Consulting business / 1 man show.
Wife in sales for a multinational.
Me: Roughly 100k this financial year.
Her: 80k salary.
Rental property worth 350k with mortgage of 200k that covers it's expenses with rent.
Mortgage on our home works out to $450 per week (Melbourne)
Bills:$100 per week per person or thereabouts.
Food:$110 per week per person - Yell at me now.
Car: $250pm before tax deductions.
We'll be in a good position in a year or 2, but after just renovating (and we're not all done yet) and getting married we're at a stage where we need to watch what we spend.
28.
Registered Nurse.
Varies but last F.Y was about $92K (Taxable $74K)
Expenses - I live at home, so not much.
What do you brew? That's the important question!