We pay 4,200 for 820k - or there about. We did really well on our last home, so our mortgage is much less than home value.
Totally doable when we're both working, but tight while I'm on gov PPL.
Regarding people making more having less money on hand, I think it really depends on how you were raised. My father was terrible! Made a lot, spent even more. Luckily my mum taught me to save etc, so while I spend on things I like, I've never carried a lot of debt. DH is pretty tight too, so we pay more on out mortgage each month to pay it down.
Wise Enough (20-04-2016)
I am SAHM with 3 children under 4 years. I haven't worked since I was 30 weeks with the first baby 4 years ago.
My husband earns around $85 000-$90 000 a year. And we receive family tax for the three kids.
We live pretty comfortably and do save money as well. Our mortgage is not very big $290 000 so with interest rates quite low at the moment it very manageable.
We do have a budget and I am very god at meal planning for food. We aren't in any other debt, we only have one car which we paid cash for. Never really use credit cards.
What helps us the most is we work in cash- when payday comes we withdraw our money for food- petrol/ leisure/ activities. Helps us see when we are running out of money or over spending.
I also believe it is all about what you spend more then what you earn.
my point was that a larger income doesn't necessarily mean a better lifestyle or more disposable income.
yeah we pay extra on our home loan each week, we settled a year ago and are about $20k ahead on our home loan. I'm not a big fan of debt either so I don't mind living frugally day to day if it means getting ahead in the big picture.
never thought about whether a concessional super contribution would be an allowable deduction in a case where the taxpayer has only foreign income. interesting scenario. I would've thought they could off the top of my head?
I agree, more money doesn't mean you're good with it. I also think it's very easy to get carried away with spending more the more you earn.
Since I've been on leave I've made a game out or how little I can spend per week. I've fallen in love with Aldi, and can do about 75% of our shopping there for heaps less than Coles. (I'm still sus on their meat & produce so I get that at a local market.) I know this is a game to me, and life to others, so I'm not making light of it, but I'd like to stop working with the next bub so want to see how well I do .
We're earning the least amount of money we ever had. I've left my 100k+ job and DH is a sub contractor so work is sporadic. It's so weird but we're not worried at all about money anymore and probably the happiest we've ever been.
We also moved regionally and our mortgage is 75% paid off and monthly payments are about $800 so that definitely helps. This was an intentional lifestyle move because we didn't want to work to live anymore.
Last edited by babyla; 20-04-2016 at 21:42.
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!