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  1. #41
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    I can't believe the monthly living expenses. $1,400-$1,500 would get you a small 2 bedrooms house here 😳

    It would be useful to add an idea of your location when giving income to be able to compare apples to apples.
    I wonder if there's any SAHP household in inner Melbourne/Sydney.

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    AdornedWithCats  (20-04-2016)

  3. #42
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    I agree with @ExcuseMyFrench. I struggle to wrap my head around budgets for things like take always for $20 a month. What kind of meal would that actually be?

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    crt22  (21-04-2016)

  5. #43
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    Quote Originally Posted by ExcuseMyFrench View Post
    I can't believe the monthly living expenses. $1,400-$1,500 would get you a small 2 bedrooms house here 😳

    It would be useful to add an idea of your location when giving income to be able to compare apples to apples.
    I wonder if there's any SAHP household in inner Melbourne/Sydney.
    I lived in north Fitzroy when I had my first 2 kids. Many of the mums from my mother's group in that area didn't go back to work after they had their second. Probably about a half. The main reason was that cost of childcare exceeded their actual income so they struggled to see the worth in it.

    But by the time their second was around 6 month many had moved further out as they couldn't fit in their houses anymore / wanted more room for the same mortgage / couldn't afford the mortgage.

  6. #44
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    Quote Originally Posted by ExcuseMyFrench View Post
    I can't believe the monthly living expenses. $1,400-$1,500 would get you a small 2 bedrooms house here 😳

    It would be useful to add an idea of your location when giving income to be able to compare apples to apples.
    I wonder if there's any SAHP household in inner Melbourne/Sydney.
    I'm so jealous of people's $1500 mortgage payments! Ours is $2,500. Our house was not ridiculously expensive, it was under the cut off for the FHOG and we had an $80k deposit. We live in Perth.

    We have no debts other than the mortgage, we own both cars outright but we pay almost $1500 a month just on food for us and our animals. $400 a month in PHI, plus all the normal rates, insurances, regos, petrol etc.

    I have to admit, I do spend a ridiculous amount of money on hair, makeup, moisturizers etc. 😳

  7. #45
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    Quote Originally Posted by Sonja View Post
    I agree with @ExcuseMyFrench. I struggle to wrap my head around budgets for things like take always for $20 a month. What kind of meal would that actually be?
    In Adelaide $20 would get you a family meal (for 4 for $20) or you could get a fried rice and meat dish for $20 (not that it would go far).

    We have a $700k(ish) mortgage and repayments are $3,900.

    I'm a part time SAHM and combined income (pre-tax) is between $150k and $200k.

    We aren't saving too much at the moment as we have 2 mortgages but not currently getting any rental income on. But we are confident moor table enough to be able to buy what we want, when we want, but we don't live extravagantly. We don't eat out much, don't buy designer anything and own our cars outright so no car loans.

    I don't financially need to work but do for my sanity and not having a big gap in my CV. I'd love to work full time and DH part time, but financially we couldn't live the lifestyle we currently have.

  8. #46
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    Quote Originally Posted by turquoisecoast View Post
    my point was that a larger income doesn't necessarily mean a better lifestyle or more disposable income.
    This!

    Some wealthy folk live very comfortably, and some live from paycheque to paycheque.

    The responses in this thread prove that you can make do on any sort of income and still feel happy and comfortable and not as though you're doing without.

    DH and I don't have a luxurious lifestyle at all. An overseas trip once a year, and a nice car is our only indulgence. I'm not a big spender when it comes to clothes, shoes, homewares etc - we really are very modest, and I'm extremely low maintenance (lucky for DH! Hah!)

    Groceries and utilities are our main expense, and our car expenses are all claimed in my business.

    Our mortgage expenses are massive.. MASSIVE. But we own 5 properties (4 investment properties in Bondi beach and our house in Sydney's North shore, minimum house price here is 1.2m - for those that wanted context, but we bought our house when prices were lower). The investments are all positively geared. The extra cash from the investment properties helps with our home loan.

    We definitely are not high income earners if you take away the rental income - but we are comfortable because we don't live beyond our means.

  9. #47
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    Quote Originally Posted by Sonja View Post
    I agree with @ExcuseMyFrench. I struggle to wrap my head around budgets for things like take always for $20 a month. What kind of meal would that actually be?
    Well this was a budget for a family with 2 kids + baby &toddler, so we would get one serve of something for DH &one for me to share with DD. Or a large curry from a local indian place to share, & I would cook rice. Or just hot chips from the local takeaway place.

    Our mortgage repayments are great, but we bought our first house at around 24 years old, so we invested early which really helped us.

  10. #48
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    Quote Originally Posted by cheeeeesecake View Post
    Well this was a budget for a family with 2 kids + baby &toddler, so we would get one serve of something for DH &one for me to share with DD. Or a large curry from a local indian place to share, & I would cook rice. Or just hot chips from the local takeaway place.

    Our mortgage repayments are great, but we bought our first house at around 24 years old, so we invested early which really helped us.
    Yeah I guess I think about it from my point of view which is 4 kids (older) and living in Perth which is stupidly expensive.

  11. #49
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    Quote Originally Posted by Sonja View Post
    Yeah I guess I think about it from my point of view which is 4 kids (older) and living in Perth which is stupidly expensive.
    Yes now I have 3 kids things like takeaway do cost more - although I can still get away with the youngest sharing my serve, but not for much longer!

  12. #50
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    Dp's income is about 200k but that includes super etc works out at 4k a fortnight. That's about 4 times what i could earn if I was working. I know that puts us into the wealthy category and we're lucky we don't have a massive mortgage. But I don't know where the money goes. We don't live lavishly. We don't need for anything but we buy our clothes from places like target. Half my youngest clothes are hand me downs! We do go out for lunch once a week or get a take away. Dp buys lunch everyday but not take out coffee. Me coffee out maybe once a week. We overpay our mortgage and do need money for overseas holidays but that's just to visit family in nz and sometimes ireland. Kids after school activities, medical costs, utilities and groceries make up much of our expenses I think. I used to be so good with money but now I feel the big expenses can't be changed so I just don't spend frivolously but don't budget. I never buy myself anything - unless you count household things like the mop I recently bought! I dye my own hair. I think I spend most money on things like good quality food. Or stuff for the kids. Books. About kids....Anything that might make my life a bit easier 😜


 

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