With $110k before tax income in our house I find it really hard to save money every year.
Living costs alone is around $70k in Perth. I barely save $5k a year if lucky.
How much money can everyone else save yearly? My best year in the last 3 years was $7000 saved in 2020….
Meanwhile in the other side of the town…
https://www.news.com.au/finance/money/tax/young-aussie-woman…
She has a tax bill of $90k just been on OnlyFan. Which makes her $250k a year? Just sayings……..
$42k just OP right? 110K is combined i think
But received a $40k pay rise as per the thread.
@avoidfullprice: I don't treat my Lego buying as hobbies rathan as a business. Which gives me passive income in a few years time
@avoidfullprice: Actually I do agree have an IP is a savings. I think the tenants pays off the IP mortgage by around $5000 per year after all expenses are taken out
I think the tenants pays off the IP mortgage by around $5000 per year
If they did, you would know.
@Muzeeb: Yes left that job now, now the total house income is around $110k before tax including bonus
Yes combined yearly income of $110k before tax now. Which is a huge relief.
$110k before tax is different to $110k net
I should have said $250k as that's most of the guys earns here right? LOL
Bloody troll post for sure. This thread almost contradicts every thread they've ever posted.
Guess it’s hard for some users to keep up with the bullshit they post 😂
You do realise this is about savings per year right? Money I used to buy the investment property and everything else comes from inheritance.
I would totally not able to save any money in the last few years if I didn't change job.
Yes if no inheritance there is no way I can afford the Lego and the shares.
If you are based on my yearly income of course it's not going to add up. But there is a little thing called inheritance too you know;) 😁
No! Bought in 2011, worth about $280k now so it will be in my advantage as times goes by
Trolllollollol.
Whatever gets you going with all these ridiculous posts.
Please report as troll post if you feel this way.
@Aerith-Waifu: What’s the point? It won’t stop you from posting stupid threads in the form of trying to brag.
But whatever gets you going in life.
@Nousernamehere: You have angry issues man…..just first thing comes to my mind. Don't forget the average income in here is $250k lol
$110k combined income before tax is not considered high for sure. I am certain there is plenty people on single income on way pass that
@Aerith-Waifu: You believe that is anger? Just how sheltered a life do you live..?
Guess it explains why you need to find validation on a bargain website if you believe that. Explains a lot actually 🤔
@Nousernamehere: No worries, my opinion shouldn't really matters anyway right? Have a nice weekend buddy:) 😊😁
I have my own house and
Expenses are $340 mortgage a week (going up to $450 soon).
$220/week for house and vehicle(fuel not included)
Income ranges from $1600-2500/week after tax
I spend $50/week for premium meat and make pre meals for myself.
5 weeks holiday too 🫨
I can save easily $50,000 keeping my own house for myself.
That is nice, why so much difference between weekly pay?
Hours. 72 house would be minimal fortnightly
Good penalty if overtime
Wish I can get a job with penalty. Only penalty thing I am getting now is working both Saturday and Sunday.
Which makes her $250k a year
Time for another career change?
Be sure to post here when it goes live….
Nah. Can't imagine cracking the $200k even if both me and my partner works full time. Just not possible in our industry
me and my partner
Double the content.. $500k
I earn more than you but able to save and pay extra to the mortgage each month, probably about $3k+ per month. Now I have basically paid off my mortgage and my wife has gone back to work we're saving double that. Although we don't have much time these days to do things so that's why we're not spending much.
That's nice. Any plans to buy an IP?
Not really, investing in ETFs seems easier and less risk so I've been doing that for a couple of years.
VAS? It's $90 at the moment though….
@Aerith-Waifu: 60/40 split of VGS and VAS and some NDQ.
I really don't know what the share price is currently for each, I know my ROI is about 7.2% per annum but it's only the past few months where they have been doing well.
Meanwhile in the other side of the town
Has an investment property
https://www.ozbargain.com.au/comment/14054101/redir
and 170k of mining stock
https://www.ozbargain.com.au/comment/14036920/redir
And posts random troll posts on ozbargain
https://www.ozbargain.com.au/node/789436
The other side of town sounds struggling.
(Not sure I'd be considering an onlyfans earner as the other side of town.)
Yes these are all done when I had the inheritance. Totally not possible to do it if I am simply working the 9-5 job
I'm pretty good at saving. But you know who really knows how to save?
Jesus.
I know someone who is really really good at savings. But he is single and a FIFO worker. Already have 3 property and he just turned 30 few months back
Jesus was apparently a FO worker, but just one gig.
IPs, inheritance, $100k+ personal incomes. I don't think I can relate to this discussion.
Never say never, one Powerball they say:)
60m next week and I already have 2 tickets…lol
I think I've long accepted that any wealth I ever have will have to be self made. I have heard that having a lot of wealth can be stressful because you constantly worry about losing it. But maybe the people who say that just weren't wealthy enough.
Good point. What if someone is just working class and not putting in any risk investment? Just don't see how they would lose money unless they get into the get rich quick scheme. Just saying
@Aerith-Waifu: The only risks I'll be taking is with my time and money being put into a business that will probably never make anyone rich. But I like the odds of success better than the odds of winning lottery. There's so many opportunities if you're clever and skilled enough, so many inefficiencies and missed opportunities everywhere. I just need to become more cleverer and skilled somehow..
Just use your degrees to get a well paying job.
if you can't 'cut' expenditure your other option is increase our income
you either earn more or spend less there is no other options
like others have said drop the lego it isnt an investment it is gambling kind of like people who invest in crypto
if youre going to invest buy income generating assets as it will increase your 'cash flow'
Lego is safer than shares though. But you are right maybe it's time to cut down on it.
just do ETF's if you're worried about 'risk' - you will at least get a dividend 2-5 percent and 1-3 percent capital growth on money index funds
that income increases you annual income and thus you get richer 'slowly'
however as someone who is in not a too dis-similar situation to yourself id just focus on paying off my house - as ever dollar you put in is 1 less dollar your paying interest on…
nice troll post bud
but to answer the question anyway;
when i was in oz, especially during covid, i was saving approx 50-60k a year
helped me pay off my mortgage mega fast, now i can do what i want living in Vietnam without the headaches that oz presented
Nice! I didn't neg you by the way
all good
Most people don't earn 50-60k a year, let alone save it. You're doing very very well in the world. Retiring to a cheaper country is smart I think.
thanks,
it was hard to let go of a good salary in oz, but im much happier here in vietnam just doing the simple things and teaching english to help others
If he keeps going like this, he be in the top 2% of the population. Why is it a good idea to live in another country when he retired when he can get much better healthcare here?
It's probably so cheap there that it's cheaper to live there and fly here for healthcare. Also I'm sure Vietnam has some good hospitals and doctors too.
Paycheck to paycheck gang ✊
I meticulously track my spending. Save 90k, spend 50k. No mortgage. Not even trying to save. Buy everything I want. A few not-cheap holidays a year.
I'm only on OzB for the comments.
Start by cutting out restaurant meals or any meals where you have to pay someone to cook for you.
Live somewhere cheaper.
Stop buying unnecessary items.
Holiday at home.
Don't go out on a costly excursion every weekend.
Grocery shop using a list and don't stray from the list.
Keep your car for way more than 2 years.
Don't upgrade things for the sake of upgrading things.
69%.
That's a nice percentage to save.
she can keep her 250k, id rather not sell photos of my snatch to incels on the internet
also, she would be the 0.0001% that make good cash on onlyfans, the rest are just selling their snatch pics for pennies, to be viewed by all for eternity on the internet
I once saved enough in a week to buy a christmas in july reddyrooter deal
You have the wrong mindset…what's the point of trying to scrimp to save more and more, saving becomes a downward spiral in terms of your mentality and affects your lifestyle…you'll spend a lot of effort just to try and save a few more thousand over one year…completely not worth it.
Instead think about how to make more money, if you put the same amount of effort into making more, I can almost guarantee you'll be in a better position financially and also mentally and your lifestyle would benefit too.
I used to have similar limiting thoughts, fast forward some years and I now earn multiples of what my income was 5 years ago, my family and I benefit greatly, got new cars, new house etc etc…it's not easy but definitely worth it.
But the more money people make, the more their spending matches their income. Then if they ever have to go back to a lower income, they are screwed.
You've got to be kidding?
I now earn multiples of what my income was 5 years ago, my family and I benefit greatly, got new cars, new house
Earn more, spend more.
Has anyone answered OPs question?
"She has a tax bill of $90k just been on OnlyFan."
'OnlyFans is an internet content subscription service based in London, United Kingdom. The service is used primarily by sex workers who produce pornography, but it also hosts the work of other content creators, such as physical fitness experts and musicians'
Now I know …
Spend less time investing and you can save more than $5K a year