+ Reply to Thread
Page 2 of 20 FirstFirst 123412 ... LastLast
Results 11 to 20 of 200
  1. #11
    Join Date
    Jan 2012
    Posts
    2,730
    Thanks
    1,522
    Thanked
    1,960
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    I'm currently a SAHM. Most years DP earns about $25k (runs various businesses). I honestly don't know what our FTB is.

    We're fine. We consider ourselves extremely privileged. We have a mortgage and one car (9 years old). We buy pretty much what we want, but we do a lot of research on what we want and buy most things second hand. We don't spend much money on food compared to a lot of people, but eat very well.

    We're happy, and living the way we want to. I struggle to think what we'd do with a higher income except pay off more of our mortgage. In fact, we had about double our usual income at one point when I was working too, and most of that went into the mortgage.

  2. #12
    Join Date
    Aug 2010
    Posts
    6,872
    Thanks
    5,195
    Thanked
    3,895
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    I'm expecting to be a SahP once my ppl runs out next month and I'm not likely to find work with my double liabilities (defence wife/kids). Dh earns about 90k and we live in Canberra. Unsure about ftb as we've never been eligible before and only claim at tax time.

    Our only debt is our mortgage (investment property) which is 1600/month. Currently our rental income pays for that. We are renting ourselves in Canberra at ridiculous prices. We pay extra into our offset while I'm on PPL.

    Our monthly expenses are roughly

    1600$ mortgage (mostly covered by rental income)
    2300$ rent here in Canberra (subsided a bit)
    Health insurance 200$
    Private school fees 350$
    Car insurance $50
    Not sure how much our landlord insurance is nor our contents on both ours /investment property is.
    Groceries 600-700$ includes cleaning/nappies
    Fuel $250/both cars.
    Electric/gas $150
    Gym fees 50$
    Internet/phones $200

    We live simply. Most free activities/outings tho once every few months we do something like the aquarium/zoo. Never get takeaway or have dinner out.

    My splurge is my gym fees. It keeps me sane.

  3. #13
    Join Date
    Mar 2016
    Posts
    156
    Thanks
    3
    Thanked
    49
    Reviews
    0
    Out of curiosity are you working with pre or post tax figures?

  4. #14
    Join Date
    Aug 2014
    Location
    Melbourne
    Posts
    1,351
    Thanks
    558
    Thanked
    728
    Reviews
    5
    Achievements:Topaz Star - 500 posts
    Wow! I will stop complaining... Before I went on mat leave, DH and I were earning $280k combined, inclusive of super.

    My company gave me 6 months leave at half pay, but now we are down to gov leave for me, and it's harder than we thought.

    We decided to move while I was pregnant, so our mortgage is now double what it was but we're managing. Luckily we'd put a pretty good chunk away beforehand to supplement.

    We paid off our car and a few other things when we sold our last house to reduce the amount of cash going out. Starting childcare soon and it's 155 per day! But I'll be back at work to offset. No other major debts, and the only time we really use our credit cards is to book flights overseas etc.

    Even though it wasn't practical, I wish we'd stayed in our old place and I didn't have to go back to work. But hindsight is 20/20.

  5. #15
    Join Date
    Mar 2015
    Posts
    137
    Thanks
    52
    Thanked
    142
    Reviews
    4
    My DH earns more than $200K and while we're ok, I wouldn't say we're rolling in it. Despite the fact that we do not buy anything aside from food and pay bills, we still don't have much money left. I think our mortgage eats up the majority of our income - we pay over $5000/mth so that's a huge chunk, but mostly that's because DH is obsessed with paying down the mortgage as quickly as possible. The rest goes to the car payment, internet/foxtel/mobiles, electricity, water, gas, food, household necessities, and various other bills like insurances, car regos, etc etc etc. Something always seems to come up. I don't think we're very good at budgeting. Before, our rent was half of our mortgage repayments and we were both working with no child so budgeting was never really an issue... Ah the good old days!

  6. #16
    Join Date
    May 2007
    Location
    Gippsland
    Posts
    14,663
    Thanks
    1,208
    Thanked
    3,839
    Reviews
    2
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 postsEmerald Star - 10,000 posts
    Quote Originally Posted by TeaM View Post
    My DH earns more than $200K and while we're ok, I wouldn't say we're rolling in it. Despite the fact that we do not buy anything aside from food and pay bills, we still don't have much money left. I think our mortgage eats up the majority of our income - we pay over $5000/mth so that's a huge chunk, but mostly that's because DH is obsessed with paying down the mortgage as quickly as possible. The rest goes to the car payment, internet/foxtel/mobiles, electricity, water, gas, food, household necessities, and various other bills like insurances, car regos, etc etc etc. Something always seems to come up. I don't think we're very good at budgeting. Before, our rent was half of our mortgage repayments and we were both working with no child so budgeting was never really an issue... Ah the good old days!
    Jesus, that's a huge mortgage! Ours is only $1300! I'm guessing that a lot of high income earners are fairly maxed out with mortgages, and that's where the money is going.

  7. #17
    Join Date
    Jul 2015
    Posts
    6,869
    Thanks
    4,776
    Thanked
    4,210
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    100 Posts in a week
    Quote Originally Posted by witherwings View Post
    I'm not going to say how much our income is but I can tell you from experience with dealing with financials and taxes for hundreds of clients every year, that what a family's income is has very little bearing on how comfortably they live. A lot of very high income earners struggle to pay bills and are in a large amount of debt. My point is, it isn't so much about what you earn, it's more important what you spend.
    this!

    a girlfriend of mine is on decent coin ($85-$90k range) but it always in debt and broke. has zero assets to her name.

    I earn less than her (employed 3-4 days per week plus do my own clients from home) but am in a much better position.

    income is largely irrelevant I find. it's how you spend/save/invest. no use earning $250k pa and having fruck all to show for it!

  8. The Following 2 Users Say Thank You to turquoisecoast For This Useful Post:

    Purple Poppy  (21-04-2016),witherwings  (20-04-2016)

  9. #18
    Join Date
    Jul 2015
    Posts
    6,869
    Thanks
    4,776
    Thanked
    4,210
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 postsAmethyst Star - 5,000 posts
    Awards:
    100 Posts in a week
    Quote Originally Posted by Hollywood View Post
    Jesus, that's a huge mortgage! Ours is only $1300! I'm guessing that a lot of high income earners are fairly maxed out with mortgages, and that's where the money is going.
    how do people have such little mortgages!! I'm envious!

    ours isn't $5k a month but it's over double what yours is!!

  10. The Following 2 Users Say Thank You to turquoisecoast For This Useful Post:

    HillDweller  (20-04-2016),KitiK  (20-04-2016)

  11. #19
    Join Date
    May 2009
    Posts
    4,786
    Thanks
    1,021
    Thanked
    2,246
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by turquoisecoast View Post
    how do people have such little mortgages!! I'm envious!

    ours isn't $5k a month but it's over double what yours is!!
    They either bought a house when they where cheap or they live in a place where you can pick a house up for 350k.
    A mortgage of 5k a month means about 1mil was borrowed. I'm assuming that would be Sydney.

  12. #20
    Join Date
    Apr 2013
    Posts
    2,174
    Thanks
    284
    Thanked
    576
    Reviews
    0
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Last financial year with wages and ftb our income was $71000. About $58000 of that was taxable. And that was only one wage. We lived fine. Paid bills...no other debts and pay rent and even went on an overseas holiday with it.


 

Similar Threads

  1. Salary sacrifice- income CL
    By maternidade in forum Family Finances
    Replies: 11
    Last Post: 04-10-2015, 22:00
  2. Overestimated family income
    By Ruby_Tuesday15 in forum Family Finances
    Replies: 13
    Last Post: 31-07-2015, 19:00
  3. Taxable income
    By silly in forum General Chat
    Replies: 20
    Last Post: 05-07-2015, 12:11

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
Babybee Prams
Save $50 in our pre-Christmas sale! All Comet's now only $500. Our bassinet & stroller set includes free shipping AUS wide, $75 free accessories, 18-months warranty & a 9 month free return policy. Check out our new designer range today!
sales & new stuffsee all
Wendys Music School Melbourne
Wondering about Music Lessons? FREE 30 minute ASSESSMENT. Find out if your child is ready! Piano from age 3 years & Guitar, Singing, Drums, Violin from age 5. Lessons available for all ages. 35+ years experience. Structured program.
Use referral 'bubhub' when booking
featured supporter
Hunter Women's Health Centre
Hunter Women’s Health Centre care for women of all ages, in the full spectrum of their gynaecologic and obstetric health.
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!