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  1. #21
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    Quote Originally Posted by pinksand View Post
    Or how do families with say 4 kids manage it? Say you have Gross $100k income, can you say wow! that's a lot already for my family. Or can you say, not enough or barely surviving?
    This is us. Four children, I'm a SAHM, and DH earns just over $100k gross. We live comfortably within our means. We have a total of about $500k of debt, but due to where we live, that has given us two houses plus our personal loan, which paid for my car.

    How much you have to earn to maintain your lifestyle will be entirely dependent on the expense of where you live, your out going expenses and whether they are less than your incomings.

    That is the only way to sustain your lifestyle - incomings higher that outgoings. Living within your means.

  2. #22
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    rainbow road is offline look at the stars, look how they shine for you
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    We live in Sydney, off $65k a year after tax. We are comfortable... We rent though, And couldn't afford a mortgage in the area we currently live.

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    Last edited by LoveLivesHere; 05-09-2013 at 21:51.

  4. #24
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    Quote Originally Posted by anewme View Post
    All i can say thank God we don't live in Sydney. We are a single income family of 8 (7at home) on half your example and still manage a decent sized mortgage and have 4 kids in private school,1 at uni and still1 in nappies.

    Sent from my GT-P5110 using The Bub Hub mobile app
    There are really cheap houses in Sydney if you want to live out in western sydney. Some houses there are only 200k

  5. #25
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    We have 4 kids, and lived in the inner west in Sydney - so we moved regional. Even though on paper our income looks good, as you say - it is just so hard to get ahead in the city. We ended up buying a house here a year after we moved and we can afford to do that on one income while I am at home with the kids. If we had stayed in the inner west, we probably wouldn't have ever been able to afford a house.


    Quote Originally Posted by pinksand View Post
    I genuinely believe my family is only spending decently and even conscious with all the cash outflows but it seems like we are just break even. I thought with our spending perspective, we can save a lot. Little things here and there DO add up!!! DH and I both work with 2 small kids that's our life. How do single income families make it? Or how do families with say 4 kids manage it? Say you have Gross $100k income, can you say wow! that's a lot already for my family. Or can you say, not enough or barely surviving?

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    Very broad question.

    We are renting in Sydney, 2 adults, one toddler and one part-time teen. We are on around 50K combined and very comfortable, but everyone is different. At this point in our life we are prioritising (and are able to) time together over income, so we are both working less than we could.

  7. #27
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    I'm on between $40,000 - $50,000 single income (as I have no partner), 2 kids - one in school one at daycare 4 days a week as I work part time/casual. I'm renting, have saved enough for an expensive surgery outright, have no credit card debt, pay for PHI, gym fees, eat a wide range of nutritious meals and can head to the movies/dinner out/short holidays if I felt the need. I save extremely well and regularly budget & meal plan. I feel quite comfortable on my income. I have the potential to earn close to $80000 if I went back full time - but until my little one is in school it's not anything I will even consider.
    Last edited by Theboys&me; 05-09-2013 at 19:50.

  8. #28
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    I earn ok money for someone who works part time.

    My husband earns really good money, but he is self employed so really hard to get a loan. Sucks.

    We live closeish enough to the city, but in suburbia. We are 5 mins from beach, 10 minutes on train to city or 15/20 minute drive to city

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    Its hard to say without knowing WHAT sort of lifestyle we are talking about.
    We are in Perth, single income of 80k and living very, very comfortably, BUT we have no debts so most of it is disposable after bills and necessities.

  10. #30
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    Quote Originally Posted by BigRedV View Post
    I earn ok money for someone who works part time.

    My husband earns really good money, but he is self employed so really hard to get a loan. Sucks.

    We live closeish enough to the city, but in suburbia. We are 5 mins from beach, 10 minutes on train to city or 15/20 minute drive to city
    Just want to add that we don't buy much. Most of our money goes on groceries and mortgage. We don't eat out, don't drink or smoke, don't eat much takeaway. But we do have enough to purchase bigger items if we needed. Eg. If our washing machine died, we could afford to go and buy one tomorrow without it hurting.


 

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