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Is one person's riches another's struggle street


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Poll: What is comfortable (253 member(s) have cast votes)

How would you rate your financial position?

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What is your combined family income?

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#31 Liz.Wis

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Posted 03 June 2010 - 04:27 PM

I answered only just making ends meet.

DH earns a decent income, I'm a SAHM and student and just filled out my yearly income statement with a big fat $0.

We have a sizable mortgage, but no other debt. We have a nice house in a fairly good suburb.

We don't have much money for extras at the moment - no concerts, holidays, good restaurants, but we can occasionally go to the movies or out to a cafe. DD isn't wanting for anything, and goes to two activities a week, plus playgroup.

I'm used to buying expensive labels, and have had to give this up. Most of my pay went on luxuries and entertainment, and obviously that's not an option now.

I plan on returning to work part time in around 3-4 years, and then full time a few years after that. My income will then go towards play money again, and we'll probably upgrade our car again. Any DH pay increases will go towards school for DD.

#32 toska

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Posted 03 June 2010 - 04:33 PM

QUOTE(EJay @ Jun 3 2010, 11:24 AM) View Post

Just going back over some of the replies and had a query: are people including their savings, and how much they put into their savings account as money that they have to spend?

I only ask because if we weren't saving so frantically at the moment, I probably would have put us in a category up: into 'comfortable' rather than 'make ends meet with not much left over.' I wonder if I have misrepresented the way that I feel about our financial situation - plus, we are starting to get into the mindset of 'being poor' because, honestly, we probably will be for a while in London until we get on our feet, particularly as I'll be studying.

I suspect that being in the frantic saving/about to be poor mindset has affected how I feel about our situation more than anything else.

This has been a very interesting read, indeed!


Ah interesting point! When I answered I was including what we had in savings - I thought it was an overall ball park, not a day-to-day living thing. i.e Because we have savings, overall we are comfortable as opposed to doing ok. Does that make sense?

#33 CRose

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Posted 03 June 2010 - 05:25 PM

I also took savings into account - our budget is self-imposed so while I might "run out of money" most fortnights we we have money in the bills account for groceries and all our bills are paid and there is money for emergencies - plus we have the ability to sell a least a couple of our four cars rolleyes.gif, are ahead a few months on our mortgage and both of us have more than adequate spending money. I wouldn't say extremely comfortable because I would have a lot more spending money if we were smile.gif

We also choose spend our money on non-essential things like private health care, internet etc - which are luxury items in my mind - I think as our income increased so did our spending, not on frivolous things but insurance, health care, bought a house etc.. (oh and regular haircuts, cafe lunches, magazines and baby girls clothes!) However we have reached an point now where any increase in income can just go to paying of our mortgage rather than needing it to pay bills etc. When my HECS is paid off we will have even more.

I haven't really had an income for the last 12 months and we are still doing fine - it will be interesting to see if we can stick to budget once we have a bit more spare cash. I have spent 10 years studying so only been making a "real" income for the last 4 years and I think we may move into feeling extremely comfortable in the next couple of years even though we may not dash off overseas a couple of times a year, drive a luxury car and have clothes with designer labels in the cupboard. We will however be spending more on renovating our house and hence increasing the value of our home.





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#34 Mel B

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Posted 03 June 2010 - 05:37 PM

It is all relative. We have a very good income but I would say we are comfortable. Due to our choices, namely a nice house in a nice suburb and me being a SAHM we don't have loads of money left over every month. But we live well and have money for luxuries like a cleaner & foxtel. Things that others spend money on, like nice cars, are unimportant to us and we haven't had a holiday for 18 months.

Still it is quite a change for us since doubling our mortgage a year or so ago. We definitely would have been in the very comfortable bracket money wise, but I wouldn't swap the lifestyle we have now because I love where we live. I have become more budget conscious and that's not a bad thing.
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#35 em2007

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Posted 03 June 2010 - 07:09 PM

We are ok - with not much left over.

I currently work 3-4 days a week - but as casual wages and DH is fulltime. We manage to pay the bills and the ortgage on that and have some room left over for little luxuries (internet etc) and some room to cover emergencies (hot water service blowing up etc).

However, we are not comfortable. This is currently due to the fact of me being employed as a casual. Without my income, we are in big trouble. Our savings would run out very quickly.

I am just about to switch to part-time hopefully (for maybe 2 of my days). It will be a pay cut technically since I lose the 25% loading, but the financial security of two permanent days (and associated sick leave etc - especially if I can negotiate to have my old sick leave reinstated!) will be worth it.

We also currently rely on DH picking up overtime shifts to try to cover some expense - not something I'm comfortable with as he has no control over whether he gets overtime or not.

We both work in the public sector so wages are fairly average, but we also chose to live in the suburbs in a small house, so we didn't exceed our earning potential.

#36 **Vanessa**

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Posted 03 June 2010 - 07:32 PM

Abbey and I fall into the second income bracket, thanks to her fathers income and the amount of child support he pays.

We do OK. I do not have a car and I have a housemate. If I had to pay everything myself I would definitely be on struggle street. Due to FIFO incomes rent over here is ridiculous and I will not live in a not-so-nice suburb.

At times I do live with 0 in my bank account, and 0 means 0, no savings, nothing to fall back on, nothing to sell etc. This is normally if child support is not paid on time. Abbey never wants for anything, she does not have many toys, but she has enough.

I eat well, I budget to be able to have a yummy home cooked dinner to look forward to. I hardly go out, I do online shopping to avoid all the incidentals I pick up. All my bills are up to date and they take priority over everything.
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#37 Rosita

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Posted 03 June 2010 - 08:48 PM

We are doing ok at the moment. I think comng off one wage to two has a bit to do with it, we are spending less then we did before I went on mat leave.

We also earn a considerable amount less than we did say 3 years ago, plus we have more debts. But we are actually utilising our money better now then we did then. Some of that is through life style changes but it is interest how our spending habits have changed over the course.
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#38 toffee

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Posted 03 June 2010 - 09:32 PM

I'd say we're comfortable,


#39 lilacgirl

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Posted 04 June 2010 - 08:39 AM



QUOTE(RubyTuesday @ Jun 3 2010, 08:21 AM) View Post


We earn good money, we are also good at spending it too!! ohmy.gif laugh.gif ph34r.gif


I think this sums up us too!! laugh.gif

DH is a tradie, he earns great money with great potential, we aren't completely stingy with our money, we have nice things, and DH drives a nice car.

We are essentially living on my wage, which is an average Sydney wage.
As we have chosen to pay 5 times the weekly repayment onto our very modest mortgage, basically it's forced savings. We want to get ahead before we TTC.
Financial security is one thing that scares the hell out of me, as a teenager we were forced to sell the family home when my father got sick.

We bust our guts on the weekends renovating our house which is finally drawing to a close... slowly (damn rain) and we're hoping to walk away with a 6 figure profit, but it's all about the sacrifices you make and the choices you make.

When we first met, we earnt a combined income of $50,000 at age 23, we both had personal loans and credit card debts, but as we've matured, increased our skills, we've been rewarded with jobs that pay well.






#40 LoveSweetpea

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Posted 05 June 2010 - 06:49 PM

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#41 L's Angel

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Posted 10 June 2010 - 07:24 PM

I'd consider us 'comfortable'. We have everything we need, most of what we want and are happy with what we have. We may find our situation less comfortable when we take on a bigger mortgage, car loan and I take time off for children but we're very aware of living within our means and are doing our best to set ourselves up now for future periods of reduced income.
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#42 Renee`

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Posted 10 June 2010 - 08:18 PM

We are comfortable. Thankfully we have our mortgage to pay off and that is it - although that is not a small one now we built. We are managing to live off just the one income, and my ,kids swim, go to kindy, kindyroo, and I can usually go out for coffee with friends once a week or so, but life doesn't have as much "Wasteful spending:" anymore..but I guess that is a good thing
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#43 em2007

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Posted 11 June 2010 - 05:08 AM

QUOTE(EJay @ Jun 3 2010, 12:24 PM) View Post
Just going back over some of the replies and had a query: are people including their savings, and how much they put into their savings account as money that they have to spend?

I only ask because if we weren't saving so frantically at the moment, I probably would have put us in a category up: into 'comfortable' rather than 'make ends meet with not much left over.' I wonder if I have misrepresented the way that I feel about our financial situation - plus, we are starting to get into the mindset of 'being poor' because, honestly, we probably will be for a while in London until we get on our feet, particularly as I'll be studying.

I suspect that being in the frantic saving/about to be poor mindset has affected how I feel about our situation more than anything else.

This has been a very interesting read, indeed!


Yes - I included the fact that we are actually spending our savings rather than saving while I'm not working fulltime...


#44 ***Jo***

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Posted 13 June 2010 - 12:19 AM

We are * just* over the $150K bracket.

We both work fulltime and still rent. But we are in the process of buying our first home this year.

We save a lot each pay and will have a large mortgage when we buy. My pay is eaten up by childcare, rent and our car payment. We have a small, economical car and certainly don't spend a lot on ourselves.

Our luxuries are Foxtel and lunch out on Saturdays. We are frugal and spend our money wisely. Its the irish in my husband wink.gif .

I feel comfortable and we don't aspire to have a certain home or car of lifestyle. We will be so happy and proud when we buy our first home and make it into our home wub.gif
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#45 scasey77

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Posted 15 June 2010 - 04:30 PM

I voted comfortable although I am guessing that a few people would consider us extremely comfortable.

We are currently in the 100-150K bracket and would prob bump up to the 150-200K bracket when I am back working part time after maternity leave.

We are able to save a decent amount for education and holidays each fortnight and don't really have to budget for bills etc. If we want something we can generally go out and get it (within reason). Havig said that we have manged to pay off our mortgage with our income and a couple of good investments so I think that makes a huge difference.

I think we just get used to living within our means. We have worked our way up through the income brackets between finishing uni and being where we are today and at each step along the way I would have said that we were comfortable - well certainly not worrying about money anyway.
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