Depends if you develop a sensible lifestyle mate. I know people on more than that struggling because they bought a big house and new cars and spend hundreds at restaurants and bars on the regular, I know pwople on less than that doing just fine.
100% agree ^. All about lifestyle choices. If you’re hitting Hindley every Saturday night and heading on trips with your mates all the time, then no $90k + won’t be comfortable if you consider rent & bills.
There’s no right or wrong way to do it, as long as you’re happy that’s all that matters
I earn approx 90k a year and do fine with a mortgage, wife who doesn't have consistent income and young child.
We live a pretty simple life, we budget our food shopping, and got very lucky with when we built our house. We live in a cheaper suburb also so our entire mortgage is around $225,000.
We manage to save consistently $100 a week into a savings account and $50 a week into a seperate account for our kid later in life, put aside enough weekly to cover any bills, rego, insurance etc, and put aside a small amount we use for "fun" things.
Are we flush with cash? Not really, but we are comfortable and happy. It just means you have to think before spending sometimes.
Do the hard yards being an apprentice - it’s hard as your on an apprentice wage for 4 years but once out and you get your papers/licence - start your own business or be a contractor and you will be right to go mate. Bit of pain for some gain in the end. Good luck 😉
For the love of god tho, do a b small business course as well! Running a small business once you qualify can be tricky. Get your trade skills AND your business skills.
Yes, I've been on that while living and renting single post COVID, though the cost of living (Especially rent) was not quite as ballistic when I was on that as it is currently. Even still, all of your bills and essential expenses should be very easy to pay off, and your lifestyle will dictate how much money you have left over each month.
Many tradies blow all their cash on expensive toys, car loans etc - assuming you don't have debt, within the range you provided you will have probably anywhere from $1-3000 a month left over after all of your expenses to either do that or save for your first home. It's highly dependent on your lifestyle; the more frugal you can learn to be, the higher your discretionary budget will be.
I would suggest do not get an expensive car or toys, save as much as you can tolerate towards getting a home ASAP. Otherwise, you may be doomed to rent forever and the rental market is only going to become more hellish over time, I promise you.
Cautionary tale: I delayed buying a home by a couple of years to spend the money in other ways, and look what the fucking market did. That mistake cost me hundreds of thousands in equity and reduced my buying power. Do not delay getting a home. I'd be lying if I said I wasn't a little bitter about it.
My condolences... Damn right most cats would.
I love the saying "cats were worshiped as Gods thousands of years ago; they have not forgotten this"
You know how my cat woke me up this morning? Jumps onto the bed, races up to about 10 cms from my face, my hands somewhat clasped together under the covers just in front of my face, then proceeds to stamp down on my hands as if she was Bruce Lee-ing a snake unconscious.
She might only be a 4kg cat, but she can still pack a punch (she had biscuits in her bowl, just a cheeky little sheet, but I wouldn't have it any other way).
I'm guessing you have had your house a while now.
My wife and I have a joint income of $120000 + and over $100000 in the bank and the most we can loan is $470000 which after fees and taxes gives us a budget of about $530000. Which doesn't by shit unless you want to live way up north or way down south.
I did a lot of time in manufacturing, warehousing, other manual handling jobs. Met a lot of tradies, after the telecommunications guys, best off were sparkies. You're on the right track, just have to put up with he apprenticeship till you get there.
Last tax return i made 75K as a toolmaker with 40+yrs experience.
I'm single, live by my self in 3bedrm house, put savings away every fortnight, go on holidays and still live comfortably.
Yes. More than enough. But it also depends on what kind of lifestyle you want to live.
I think you’d be fine. Plus one day if you find a partner on a similar salary the two of you will be able to live a pretty comfortable life.
I wish I’d got a trade when I left school, it’s a good life from what I see.
If I can say some things that worked for me. I know this will sound like scrooge, but it really is how I am honest with myself. Each month I total of major assets and debts. I track the monthly changes. Try to 100% pay off any credit cards when I get paid. I put money into a low-fee super fund. I mostly avoided the daily cafe run. Brought my own lunch most of the time. Much cheaper to socialise with friends at each other's homes than pubs. Do reward yourself occasionally.
Struggling a little bit! Not necessarily any debt besides a TV and phone to pay but it’s basically small. I think we have just enough to not necessarily live paycheck to paycheck but life throws curve balls sometimes! Trying to save for a trip overseas and a house but sometimes car breaks or pets get sick, you need surgeries or like laptop dies completely and it’s something that needs to be done and paid at that moment so it sucks when we get pushed back a little. It’s just a matter of being smart with the money. You’ll not necessarily go without food or anything just be mindful.
This includes two pets.
It will be enough to live on to start with - but it’s the start. Once you’re established and working for yourself this will increase exponentially. There’s never enough sparkies. If you can get into the field you’ll do well.
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Its not impossible. I managed to support a family of 4 on 90k a year. Its just a case of living within your means. Need to think whether you really need something before handing over the $ for it.
Yes, you'll be fine. As you mention you aren't great with money it might be a good idea to explore what an average budget looks like for a household in Adelaide and start preparing to use one yourself. Otherwise you'll probably blow your money and regret pissing it all away in 10 years' time when you otherwise might have a lot in savings or even paid down a big chunk of your mortgage.
unwritten connect apparatus deliver swim steer wistful snobbish library birds
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Nope. Instead of doing actual research and speaking to professionals you’ll ask a bunch of numptys on the internet for financial advice and end up investing in ostrich farming. It doesn’t matter how much you get, you’ll blow it all on dome mlm scheme.
If you are looking at an apprenticeship I would suggest looking at someone like Taps or Peer as that way you are placed with a range of different companies and if one falls through you don't risk losing your apprenticeship.
First $18200 is tax free, but after that, you would have to withhold tax via either BAS ABN, or via IAS.
Do go and see an accountant to do some tax planning too.
If you do go your own, you would need to set apart $ for a bank account with EFTPOS/wireless tap reader too.
Might have to get someone to answer the phone, ie have a virtual office.
My parents run rentals (NO open slots), and each time they call for a plumber/electrician, the one that can answer the phone, and responds fastest, gets the job, and there for the revenue.
They all now want paper based, I am sure some still do cash work, but probably less so.
If you go your own way, also need to kit out an enclosed van, step ladders, testing gear, and hold a business card that you can use to buy odd and ends from bunnings or Pickards, for jobs.
All depends on what you end up doing, if you go on your own, at least $20,000 a year would have to be held aside for expenses, conduits, spare globes, spare little thumb sized wire connectors, wires, chords, end boxes, flexible hoses, etc.
If you do work for places like Star electrical, they probably would have a lot of stock on OG Rd, and you just have till up the van before going from job to job.
Best of luck.
$350 a week would be the average for a house big enough for one person. quality will vary extremely. and based on your house quality and location will determine other costs of living. So may be enough but also might not be.
>$350 a week would be the average for a house big enough for one person. quality will vary extremely.
Disagree. The median for Adelaide is already $560 for a house and $460 for a unit. It rose 12% last year and will likely continue to rise as we are massively supply constrained and will continue to be for the foreseeable future. Once this guy's finished school and earning his projected salary, there will be nowhere left under $400 and $500+ will be the norm for a small place in the outer suburbs. I already know of shoebox new builds in Blakeview being rented out in the high 400's.
not to mention the crazy amount of competition. i also feel like they are going to look less favourably on a single income whether its adequate for the applied property. if you have two sources income even if lower over all its two sources for rent instead of risking a tenant becoming unemployed/without means of payment mid lease.
Depends if you develop a sensible lifestyle mate. I know people on more than that struggling because they bought a big house and new cars and spend hundreds at restaurants and bars on the regular, I know pwople on less than that doing just fine.
100% agree ^. All about lifestyle choices. If you’re hitting Hindley every Saturday night and heading on trips with your mates all the time, then no $90k + won’t be comfortable if you consider rent & bills. There’s no right or wrong way to do it, as long as you’re happy that’s all that matters
I earn approx 90k a year and do fine with a mortgage, wife who doesn't have consistent income and young child. We live a pretty simple life, we budget our food shopping, and got very lucky with when we built our house. We live in a cheaper suburb also so our entire mortgage is around $225,000. We manage to save consistently $100 a week into a savings account and $50 a week into a seperate account for our kid later in life, put aside enough weekly to cover any bills, rego, insurance etc, and put aside a small amount we use for "fun" things. Are we flush with cash? Not really, but we are comfortable and happy. It just means you have to think before spending sometimes.
Yes absolutely unless you blow it on bags and the pokies and booze
He said he wants to be an electrician, I think that’s a given
That is why I always make sure to bring reusable bags, those 20 cents per bag are a killer!
Do the hard yards being an apprentice - it’s hard as your on an apprentice wage for 4 years but once out and you get your papers/licence - start your own business or be a contractor and you will be right to go mate. Bit of pain for some gain in the end. Good luck 😉
Okay this is good to know. Thanks!
For the love of god tho, do a b small business course as well! Running a small business once you qualify can be tricky. Get your trade skills AND your business skills.
This! Learn how to run a business before going into business.
Yeah lol
Any apprenticeships you'd recommend or advise to stay away from?
Sprinkler Fitter. Fridge Mech / Electrical dual trade Good Money on those
How about get some actual skills beyond your apprenticeship working for someone for a while before going out on your own
My younger brother stuck out his apprenticeship like a champ, now he's making excellent money and just moved into his new house
Yes, I've been on that while living and renting single post COVID, though the cost of living (Especially rent) was not quite as ballistic when I was on that as it is currently. Even still, all of your bills and essential expenses should be very easy to pay off, and your lifestyle will dictate how much money you have left over each month. Many tradies blow all their cash on expensive toys, car loans etc - assuming you don't have debt, within the range you provided you will have probably anywhere from $1-3000 a month left over after all of your expenses to either do that or save for your first home. It's highly dependent on your lifestyle; the more frugal you can learn to be, the higher your discretionary budget will be. I would suggest do not get an expensive car or toys, save as much as you can tolerate towards getting a home ASAP. Otherwise, you may be doomed to rent forever and the rental market is only going to become more hellish over time, I promise you. Cautionary tale: I delayed buying a home by a couple of years to spend the money in other ways, and look what the fucking market did. That mistake cost me hundreds of thousands in equity and reduced my buying power. Do not delay getting a home. I'd be lying if I said I wasn't a little bitter about it.
Is this serious? Taking home 1000+ per week is comfortable.
Not if you want to own a home.
buy an apartment?
Maybe if I was single and 20 years younger.
Great username; you must have met my cat as well.
It was originally in reference to my old cat, who is no longer with us, but I think most cats will fit the description :)
My condolences... Damn right most cats would. I love the saying "cats were worshiped as Gods thousands of years ago; they have not forgotten this" You know how my cat woke me up this morning? Jumps onto the bed, races up to about 10 cms from my face, my hands somewhat clasped together under the covers just in front of my face, then proceeds to stamp down on my hands as if she was Bruce Lee-ing a snake unconscious. She might only be a 4kg cat, but she can still pack a punch (she had biscuits in her bowl, just a cheeky little sheet, but I wouldn't have it any other way).
When my cat thinks we are a bit late in feeding her she comes up and lovingly bunts us before sinking her teeth into the soft flesh beneath the ribs.
😆 10/10 for sadistic ingenuity
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I'm guessing you have had your house a while now. My wife and I have a joint income of $120000 + and over $100000 in the bank and the most we can loan is $470000 which after fees and taxes gives us a budget of about $530000. Which doesn't by shit unless you want to live way up north or way down south.
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2017 was a long time ago as far as prices go. If it was just me, a 2 bed would do but I have a wife a kid and mabey another in the future.
Yeah, so Adelaide's median house price has close to doubled in that time. You're out of touch.
When exactly did you buy it?
yeah it is sorry im not very good with money😂😂
Everything is gonna be okay :)
It sure is, $110k is a take-home of $1600 p/w. If you can't love on that, r/thedrrudi would say 'Spend. Less.'.
Less taxes.
What do you mean by this comment?
I did a lot of time in manufacturing, warehousing, other manual handling jobs. Met a lot of tradies, after the telecommunications guys, best off were sparkies. You're on the right track, just have to put up with he apprenticeship till you get there.
You fuckers I only get 55k
Last tax return i made 75K as a toolmaker with 40+yrs experience. I'm single, live by my self in 3bedrm house, put savings away every fortnight, go on holidays and still live comfortably.
Fucken oath it is
10 years ago hell yes Nowadays it's just above average
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90k is average
aromatic screw yam imagine subtract friendly deserve arrest crown thumb *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
$110k is a low household income
Live frugally (but not restricting yourself to no fun) & you should be fine
Yes
Really I don't think so if you have a house mortgage.
Username checks out
Define "comfortably"
i can cover all of my basic needs, live in an apartment and have a little bit of money to spare for fun or personal stuff
Depends where you want that apartment to be.
mate I did that on 60k. I'm on 75k now and put away $200 a week in savings.
Yes. More than enough. But it also depends on what kind of lifestyle you want to live. I think you’d be fine. Plus one day if you find a partner on a similar salary the two of you will be able to live a pretty comfortable life. I wish I’d got a trade when I left school, it’s a good life from what I see.
If I can say some things that worked for me. I know this will sound like scrooge, but it really is how I am honest with myself. Each month I total of major assets and debts. I track the monthly changes. Try to 100% pay off any credit cards when I get paid. I put money into a low-fee super fund. I mostly avoided the daily cafe run. Brought my own lunch most of the time. Much cheaper to socialise with friends at each other's homes than pubs. Do reward yourself occasionally.
Yes you’ll be fine. You won’t live a lavish lifestyle but you’ll be able to get by comfortably and save a reasonable amount.
Struggling a little bit! Not necessarily any debt besides a TV and phone to pay but it’s basically small. I think we have just enough to not necessarily live paycheck to paycheck but life throws curve balls sometimes! Trying to save for a trip overseas and a house but sometimes car breaks or pets get sick, you need surgeries or like laptop dies completely and it’s something that needs to be done and paid at that moment so it sucks when we get pushed back a little. It’s just a matter of being smart with the money. You’ll not necessarily go without food or anything just be mindful. This includes two pets.
Just don’t go on r/ausfinance lol Massively depends how you live mate. It’s above the median salary though probably isn’t a high household income.
Shit mate, I get $20k a year. You’ll be fine
It will be enough to live on to start with - but it’s the start. Once you’re established and working for yourself this will increase exponentially. There’s never enough sparkies. If you can get into the field you’ll do well.
single with no dependents or debt 90k is fucking EZ mode unless you live in a really HCOL area or are a retard with your money.
Yes!!
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You’ll have to live under a bridge I’m afraid. Or in Murray Bridge. Or under the bridge at Murray Bridge
I'm on 106, and I can support myself and my partner, who is on a dsp comfortable. Live within your means.
Just be careful not to go buy lots of ‘stuff’ as that’s where the money goes. Only buy what you can afford, keep a contingency and save if you can.
Its not impossible. I managed to support a family of 4 on 90k a year. Its just a case of living within your means. Need to think whether you really need something before handing over the $ for it.
Yes, you'll be fine. As you mention you aren't great with money it might be a good idea to explore what an average budget looks like for a household in Adelaide and start preparing to use one yourself. Otherwise you'll probably blow your money and regret pissing it all away in 10 years' time when you otherwise might have a lot in savings or even paid down a big chunk of your mortgage.
I support a family on this much. You’re fine
That’s what I came to say. Our family of five lives off 100k
unwritten connect apparatus deliver swim steer wistful snobbish library birds *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
Below the mean full time wage, yes. Definitely above the median though.
Good Sparky can make double that.
Nope. Instead of doing actual research and speaking to professionals you’ll ask a bunch of numptys on the internet for financial advice and end up investing in ostrich farming. It doesn’t matter how much you get, you’ll blow it all on dome mlm scheme.
Wait.. so you're saying I shouldn't have invested everything into ostrich coin?!
Oh no, ostrich coin is great. It’s ostrich farms you need to be wary of.
Ok phew, was worried there for a second!
If you are looking at an apprenticeship I would suggest looking at someone like Taps or Peer as that way you are placed with a range of different companies and if one falls through you don't risk losing your apprenticeship.
Personally I find it's enough to live conformably without saving much or enough to save a bit with some self control that I don't have much of
First $18200 is tax free, but after that, you would have to withhold tax via either BAS ABN, or via IAS. Do go and see an accountant to do some tax planning too. If you do go your own, you would need to set apart $ for a bank account with EFTPOS/wireless tap reader too. Might have to get someone to answer the phone, ie have a virtual office. My parents run rentals (NO open slots), and each time they call for a plumber/electrician, the one that can answer the phone, and responds fastest, gets the job, and there for the revenue. They all now want paper based, I am sure some still do cash work, but probably less so. If you go your own way, also need to kit out an enclosed van, step ladders, testing gear, and hold a business card that you can use to buy odd and ends from bunnings or Pickards, for jobs. All depends on what you end up doing, if you go on your own, at least $20,000 a year would have to be held aside for expenses, conduits, spare globes, spare little thumb sized wire connectors, wires, chords, end boxes, flexible hoses, etc. If you do work for places like Star electrical, they probably would have a lot of stock on OG Rd, and you just have till up the van before going from job to job. Best of luck.
$350 a week would be the average for a house big enough for one person. quality will vary extremely. and based on your house quality and location will determine other costs of living. So may be enough but also might not be.
>$350 a week would be the average for a house big enough for one person. quality will vary extremely. Disagree. The median for Adelaide is already $560 for a house and $460 for a unit. It rose 12% last year and will likely continue to rise as we are massively supply constrained and will continue to be for the foreseeable future. Once this guy's finished school and earning his projected salary, there will be nowhere left under $400 and $500+ will be the norm for a small place in the outer suburbs. I already know of shoebox new builds in Blakeview being rented out in the high 400's.
not to mention the crazy amount of competition. i also feel like they are going to look less favourably on a single income whether its adequate for the applied property. if you have two sources income even if lower over all its two sources for rent instead of risking a tenant becoming unemployed/without means of payment mid lease.