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  1. #31
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    Quote Originally Posted by CMF View Post
    Yeah... I think I'd be ok with that...
    Of course you would have noticed in the figures i didn't include utility bills, PHI, car registration, clothing, phones ...

    How much would that all add to a week I wonder? That's the 'lifestyle' I was alluding to. It's not really much of a lifestyle in the sense I suspect you mean it.

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  3. #32
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    We are on one income, of $94,000, and we struggle. We have a home loan, a car loan, an overseas student loan - they don't have hecs from where DH is from, so you get a loan with 15% interest and pay it off, we still have another 11 years to go on it. We have 4 kids 2 soon to be 3 in childcare, two see specialists, I see multiple specialists, have multiple appointments and have to drive back and forth to the nearest city (3.5 hours away) for appointments, and take lots of very expensive meds. We spend between 2000 and 3000 on doctors a year and that doesn't include the meds! It just all adds up.

    I've just started uni because I didn't think we had enough debt

    At the end of the day we have about 150 a fortnight to spend on things like, fixing things around the house, and gardening and that kind of thing. Something around here always needs fixing. I need to call in a damp specialist and just don't have that kind of money right now.

    Quote Originally Posted by ProudMumma34 View Post
    I'm finding it hard to process that some people still find it hard to live on 100-150k?? I know no one said that here but some said it's not much money to live on. My husband and I must be at the upper end of lower class cause we live way below that!!

    What are ppl's expenses?? Is it a lot of loans? Lifestyle? I've been told that for some ppl their mortgages and cheaper than rent? I guess also its got to do with where u live. I know Sydney is expensive!

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  4. #33
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    As others have said, the point of FTB is not welfare, it is to re-balance the implications on families of an income tax system that taxes on an individual basis, not a family basis.

    I am a single mum and I earnt just below the FTB A cut off last year. I have a tiny house out in the sticks a long way away from family, friends and work, DD and I spend 1-3 hours in the car every day. I have none of the advantages of a double income family (able to live in a nice area close to family, able to go on holidays, out for dinner etc) and none of the advantages of a single income family (one parent at home able to look after the house, shopping, cooking, not having to use after school care etc). If anyone wants to begrudge me a couple of bucks of FTB then seriously they can get a life.

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  6. #34
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    Quote Originally Posted by CMF View Post
    Yeah... I think I'd be ok with that...
    Then factor in PHI (we pay $250/month, and have to have it due to medial conditions), phones and other necessary items like clothes, school bits and pieces, it's not a life of luxury like some think.

    Don't get me wrong, I know 100k-150k a year isn't as tough as a lot of people, but it's also no walk in the park sometimes either.

    But I also feel that while our finances aren't leading a life of luxury, we're also lucky to have a nice (but modest) house in a nice area (but still ages away) which is what we pay extra for. I have a friend who is a single mum who is having to move into a share house because rentals are so ridicuously priced in Perth so unfair.

  7. #35
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    Well despite my income being under a quarter of that to sustain two of us, I still think the FT cut off is fair. It will reduce WELL before 100k, but as previously mentioned it's not welfare. It's effectively giving people access to what would be part of their tax return, but allowing that access in a way that makes the daily financial strains of family expenses a little easier.

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    Quote Originally Posted by missie_mack View Post
    But that is forgetting car registration (about $25 pw), utilities (water, gas, electricity) In Sydney most people are spending a minimum of about $50 a week on just electricity! There there is PHI- around another $60 pw, telephone (even on a prepaid mobile it could be close to $10 pw)- any medical/pharmacy and then all the costs of going to work eg. professional memberships, union fees ($25 pw) etc etc and car insurance ($15 pw?) I think I work out I have about $100 pw left- and I am still yet to pay water or gas bills or medical or have any luxuries.... or even put some away incase an appliance goes belly up
    Yes my use of 'lifestyle' there was meant to be a little facetious I went on and added all the other day to day expenses that eat up all that leftover money and then some.

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    No matter what you earn - money sucks balls

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  11. #38
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    headoverfeet is offline The truth will set you free, but first it will **** you off. -Gloria Steinem
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    Nope.

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    Quote Originally Posted by ProudMumma34 View Post
    I'm finding it hard to process that some people still find it hard to live on 100-150k?? I know no one said that here but some said it's not much money to live on. My husband and I must be at the upper end of lower class cause we live way below that!!

    What are ppl's expenses?? Is it a lot of loans? Lifestyle? I've been told that for some ppl their mortgages and cheaper than rent? I guess also its got to do with where u live. I know Sydney is expensive!

    Sent from my GT-N7105T using The Bub Hub mobile app
    In our case we are on what is considered a medium to high income. The reality is however that deduct the high tax my dh pays and he isn't left with a high income in the hand but some don't seem to understand this or take into account. Doing our taxes this year I felt sick at the amount of tax dh had paid tbh! In relation to expenses, for us it's; 1 car loan, 1 mortgage, higher cost of food and ridiculasly high fuel due to where we live, school fees, daycare fees, PHI, cars and house insurance, life insurances as well as utility bills, medical expenses over the years not covered by PHI which has cost us a fortune including numerous ivf treatments and associated tests/procedures expenses, trips to the city through the year to visit an ill family member have been costly due to where we live also (it costs us $2,500 in airfares alone each time we travel, and we don't go on extravagent holidays, the only holiday we go on is to the city. House renovations have factored in for us too this past year. We have had lawyer fees to pay for some time back as well. We aren't big spenders on things we don't need. We are comfortable, we have many assetts we have aquired over the years but we aren't rich by any means and we have still had to budget to obtain the things we have. You never know what people have to pay out for no matter what they may earn. It's not necessarily to do with not living within your means.

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    We're on one income at the moment... Hubby's wage is close to 100k and yeah it's tough! Our mortgage payment is over half his fortnightly pay (not an over the top expensive house either). After all direct debits, phi, insurances for two cars and home and contents, rates, electricity, water we're not left with all that much. We don't have any extra loans or cc.


 

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