$180k annual salary in Sydney, how much can we save?

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$180k annual salary in Sydney, how much can we save?


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Old 12-22-2015, 12:49 PM
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$180k annual salary in Sydney, how much can we save?

Hi all,

I have an offer to relocate to Sydney with the Missus and our 2 kids (2 and 5).
They're offering $180k annually + 10% superannuation + $6k relocation assistance.
I do realize it's a good salary, my question is what would be my expected annual savings considering the following:

- Rent for a 3 bedroom apartment/house in Sydney, off center is fine.
- Nursery/School for 2 kids
- Missus is not working (I will probably get a 457 visa so I understand she could work)
- Utility bills
- Other expenses for a family
- 1 car

I'm obviously looking for a rough estimation.

My estimation shows $1k-$2k savings per month based on the above information, anyone has anything else?

Many thanks in advance


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Old 01-03-2016, 12:49 AM
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$180,000 a year is a decent income.
The estimated tax on that taxable income is $54,547
Medicare levy estimate is: $3,600

So, net of about $10,000 per month

With my style of living I could probably save over half that

But some people would need it all, plus more...

How much you save will depend a lot on your choice of house, schooling type, and lifestyle options.

I must admit, if I had $10,000 per month, I could adapt my life to spend it all

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Old 02-01-2016, 12:09 AM
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I am on about the same.

Salary nets out to $9493 per month take home, and our fixed expenses (rent, transportation, car insurance, utilities, groceries, etc. is about $6,700 per month (fyi, our rent for a 2 bedroom apartment in a desirable suburb in Sydney is $3900 per month).

This would leave $2793 per month, but I send home $1500 a month to cover student loans in the US, so we are left with about $1293 unaccounted for.

This is all in Australian dollars, and is on my income only. With my wife working (she is off now following the birth of our baby), we were able to have about $2,000 per month to go out an enjoy ourselves with, and could still put away about $2500 per month into savings.

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Old 05-18-2016, 06:51 AM
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Hi all

I understand the struggling of living and maintaining little ones, I try to save... but my cat is a vicious creature and make me buy expensive cat food + toys... now she is demanding a cat scratching castle and I only have two part time jobs and trying to live my life too. *sight*


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