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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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#46 Em-Jay


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Posted 11 July 2010 - 09:04 PM

I've only just seen this topic smile.gif

I guess it's different for each individual person to how they 'label' themselves.

I think we are 'Very Comfortable'. Our combined family income is in the 100-150K bracket - closer to the 150K.

I don't earn much money, and in fact at the moment I am not working at all - so its my DH that earns the great money. He is a tradie, but started his own business a couple of years ago and we are now reaping the rewards smile.gif

We just have our mortgage to pay off, which is fairly modest (we bought when my DH just started his business so we had a smaller combined income of 70K per annum).

I call us 'very comfortable' as we are easily able to afford all of the necessities (mortgage, food, bills etc) as well as splurge on more extravagant items (for example our new flatscreen), weekends away and clothes/entertainment.

We have done the hard yards though, back when DH was working as a tradie and I was a fulltime student (when I was pregnant and just having had my first child) our combined income would have been 50K per annum - but in my memory we were still doing OK. We rented somewhere cheap, bought our cars cheap at auctions and had all second hand furniture so we were still able to live comfortably smile.gif
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#47 ~Kristy~


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Posted 11 July 2010 - 11:59 PM

We have a little bit left over each f/n after DH gets paid (close to 50k a year).
We live fairly tightly but have to atm so i can be a SAHM until the kids start school. We dont go without but dont spend money if we dont have to- for example we still rent with no plan to buy for a few years yet and i think we must be the only family in Australia without a plasma TV laugh.gif Each pay K's needs, bills, rent, food, car payment etc come out and whatever is left is ours. We have a couple of debts we're trying hard to pay off before #2 comes so we dont go out or do much for now but it will be worth it plus it's not forever smile.gif

Edited to fix typo's
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#48 Lizzzard


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Posted 14 July 2010 - 08:08 AM

I think it is very relative... We do earn a reasonably good income, but after moving back to Australia in January, our income has literally halved, and our expenses have doubled. I will admit, we've had a bit of a tough time adjusting to the change in our disposable income, and the need to rationalise alot of our choices. I don't mind not having money to eat out, or buy clothes or drive a nice car...but it is difficult when money impacts things like childcare choices. Hopefully our income will pick up again in the next couple of years when my husband gets his career re-established over here. Once the kids are in school, some of childcare burden will also decrease and maybe we'll be able to afford a mortgage...
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#49 Monica


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Posted 14 July 2010 - 08:55 AM

QUOTE(Monica @ Jun 3 2010, 11:32 AM) View Post

We make ends meet with not much left over.
We have to say no to things a lot of the time but you know, at the end of the day, we have each other, we have Nina, we live in a flat we love and we eat nice food, to me that’s the basics covered.
We are in a little bit of debt which will hopefully be paid off by the end of next year – very much looking forward to not shelling out for that.
We are ok with the fact that we will only be able to afford to buy a house in about 10 years or so.
We are plugging away at saving and hope to take Nina to Disney World when she is around 12.

At the end of the day, sure we’d like a little more BUT if this year and last has taught me nothing it’s taught me to be grateful for what I have, 13.5 months ago my husband was nearly a single father.

Sorry, I have to stop there, I’m tearing up

I have been thinking about this a lot more since I first posted and have changed my mind – we are comfortable.
We earn around $80k a year combined (with me part-time). Our expenditure is rent, normal bills, an interest free purchase and a little CC debt.
Now that my position is permanent for the next 12 months and I get paid monthly, I am hoping that will make it easier to pay off the CC and put big chunks in ING.

We can afford nice food, the odd dinner/night out, DH is off on a weekend away next weekend and we are looking at getting Foxtel.
If we were just making ends meet, the above wouldn’t be possible.

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#50 Thelma


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Posted 14 July 2010 - 09:20 AM

QUOTE(~Kristy~ @ Jul 11 2010, 11:59 PM) View Post

i think we must be the only family in Australia without a plasma TV laugh.gif

You're not alone, we just have an 'old' tv too!

Our combined income at the moment would be around the $50k and I would class ourselves as comfortable. However we don't live in a capital city and housing is affordable. We don't live the high life and we have to watch what we spend, but we certainly don't go without either. I go out for lunch with the girls, get takeaway, buy new clothes (on sale!), take cheap holidays and if an unexpected bill cropped up it wouldn't cripple us.

#51 LoveSweetpea


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Posted 14 July 2010 - 10:41 AM

I voted comfortable. At the moment with just DH working we're over $100K but with me back at work we'll be over $150K, although $610 per fortnight of my wage will go straight onto child care.

We live a good life. We're not overly extravagent (couldn't just up and go on a super holiday at the drop of a hat) but we live well. We have a beautiful house (with a not so beautiful mortgage to go with it laugh.gif ), 2 nice cars and a fairly large boat.

We can afford to get pretty much whatever we want when we want it, but again not extravagent - I wouldnt go buy a $3000 new TV for example. We're in the process of spending around $15K to extend our back deck (its gonna be huge - can't wait!) but nothing much else is in the pipelines for us.

Once i'm back at work, we plan to save pretty much all my wage, as we plan to have baby number 2 next year and i wont be going back to work until they are at school then, so we're trying to set ourselves up so that it wont be Struggle Street during that time.
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#52 d00nd00nian


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Posted 14 July 2010 - 11:16 AM

At the moment, we are comfortable but that will change soon once we start paying the huge mortgage on the house that we recently bought. I think we'll be ok but will have to stop spending so much on take-away food and coffees etc.

#53 Cole29*



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Posted 14 July 2010 - 11:41 AM

It is amazing how different everyone's situations are - some of you live on one average income and do so very comfortably, whereas we would have not a hope in hell of living on one income - the downside of a largeish Sydney mortgage.

Currently I am on maternity leave - receiving half pay, but I voted based on what our income usually is, and will be once I return to work in about 10 weeks time. I am the larger income earner too, so being a SAHM is not an option for that reason.

So our combined income is $135,000, I voted "OK, but not much left over", but we would lie somewhere between that and "comfortable". A big chunk of our money goes on a largeish mortgage (and a HUGE interest rate), we also have a personal loan to pay off (we each had a personal loan when we met) and we are about to add to this as hubby will no longer have a work car so we need to buy a second car as having just the 1 car would not work for us. Obviously we also have all the other normal utility bills, land rates etc etc.

We have luxuries such as foxtel and internet, we still eat out sometimes and get takeaway sometimes. We do have to think about purchases such as clothes etc now though and can't just say "I want that so I will buy it", but that doesn't bother us provided new purchases are not ruled out altogether.

We earn more than a lot of my friends and so they think we have more money, but many of them rent and pay less than half of what we pay each month having our mortgage - but we made the choice to have our own home.

Obviously if we got rid of the luxuries completely then we could afford for me to return to work part time (I will be returning 4 days a week but compressed hours) or to still work full time and pay extra off the mortgage - but having no luxuries in life would not make either of us happy. We don't (and can't) go overboard with luxuries, but we have enough to make our lives enjoyable.
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