On social media, many people ask how much should we earn to beat the cost of living in Sydney. Below is a quick rundown of the cost.
Imagine a person earning a salary of 100K plus super. Imagine the person is married and has 1 kid. Below is the approx. Cost of the main general sub-components that are required to beat the cost of living in Sydney. After paying all these expenses, one is left with a deficit of roughly 25K per annum.
| Salary | 100000 | plus, super | |
| Approx tax | 30000 | 30% | of salary |
| Rental | 31200 | 31% | of salary |
| Mobile phone 1 | 1200 | 1.20% | of salary |
| Mobile phone 2 | 1200 | 1.20% | of salary |
| Electricity | 1200 | 1.20% | of salary |
| Private health insurance | 4000 | 4% | of salary |
| Gas | 600 | 0.60% | of salary |
| Commute to work public transport | 2000 | 2% | of salary |
| Car loan – 20K | 4800 | 5% | of salary |
| Car (Rego, insurance, petrol, maintenance) | 5000 | 5% | of salary |
| Clothes | 2000 | 2% | of salary |
| Eating outside and recreation | 2500 | 2.50% | of salary |
| Groceries-Western | 5000 | 5% | of salary |
| Groceries-Indian (Groceries subclassed to one’s birth country) | 5000 | 5% | of salary |
| Childcare – Kid1 | 25000 | 25% | of salary |
| Kid 1 public school, books, tuition, exam preparation | 5000 | 5% | of salary |
| Social circle – buying birthday and anniversary gifts for others | 1000 | 1% | of salary |
| Domestic recreation travels nearby | 2500 | 2.50% | of salary |
| Netflix, amazon prime, tv | 1000 | 1% | of salary |
| Content insurance | 500 | 0.05% | of salary |
| Total | -25900 | 129% | of salary |
Hope this post helps you figure out the cost of living in Sydney and will help you plan accordingly for stress-free living by beating the cost of living in Sydney.
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Disclaimer: Articles in this blog are just the author’s or authors’ personal opinions.
It may or may not be correct. Please do your own due diligence and seek professional advice according to your own personal circumstances. The author or authors cannot be held responsible/liable for any content in this blog.
*all images are for illustration purposes only
