Cost of Living in Australia
How it adds upOur weekly "fixed" household spending is:
|Other housing costs||$179|
|Drinks, snacks & Eating Out||$80|
|Sport & Recreation||$48|
That's just over $76,200 per year, which requires a gross salary of about $102,000 (one earner) or $46,000 each (two earners) to provide.
** We are not saying that is all you need to earn to get by, because there are many more expenses which we are not able to quantify - see below.
Remember this is just an example for our family - in some areas your own costs will be similar - eg rates and utility bills probably don't vary that much between families and groceries won't be hugely different, unless you have very expensive tastes. You can estimate the size of mortgage you will have and calculate your repayments.
But the other categories can be very different depending on how many cars you run and their age and model, whether your kids go to state or private school, how often you eat out and so on.
Also, please note that this only represents our "fixed costs" each week, there are plenty of other expenses, some are luxuries and they will vary enormously according to your income and tastes, so we haven't tried to quantify their dollar value, but consider the following:
- New furniture
- Electrical goods
- Home Improvements