Long time lurker here - It's always interesting to read Ozbargain forums and the comments. Some comments totally make my day, due to the excessive laughter that follows.
My question was inspired by the recent discussion by 900dollaridoos on 26/09/2021… "If Your Income Was Double or Tripled, What Daily/Weekly/Monthly Items Would You Buy?" It was very interesting to read everyone's comments.
So my question being.. "How Much of Income Would Be Enough for You to Live "Reasonably Well"?"
My guess is that people would have a variety of different definitions of "reasonably well". From my perspective, the definition of "reasonably well" would be to live life with everything you need but not having everything you want.
- Having everything you need = enough money for home cooked food, utilities, shelter (rented or owned), whilst not living pay check to pay check and the occasional luxury like eating out/takeaway once in 2 weeks or a massage once every 6 months
- Not having everything you want = ie: the new phone/car/house/computer/handbag or the monthly expensive fine dining meal
To clarify, I'm not with a survey company either. I've just been reading a lot on the median income and the "average middle income australian". After reading all of that, it still befuddles me on what is termed "average middle income australian", as it seems that people generally deem themselves as the "average middle income" whether they earn $60k per annum or $300k per annum (business owners included).
Anyhow, I thought it would be an interesting conversation and poll to have.
The poll is based on a 1 person's income (pre-tax), with no kids - I know that a lot of people have kids here, but hey, let's just go with that assumption ok? Also, I've chosen pre-tax income aka gross salary, since it was easier, as some people obviously have special accountants (see below link)