Average wage

[BJP]

no probs mate I`ve still 3 odd yrs to go myself

[dasher]

Uhhhmmm bit embarrassing but got bitten twice. Yeeeooouuuch. Definately ain't going for the 3rd time lucky.

[Trojan05]

Hi Guys,
I think working for wages gives you no control over your wages. You will always be working for what you are told and if you dont like it the employer will employ someone cheaper. That is the way it is heading in the future. Sack the BOSS and buy the company then set your own wages.

Then buy a boat and fish all day EVERY DAY

Cheers, Steve

[MrLuminous]

Hey fellas
I'm still in school and WOULD BE ABSOULTELY wrapped if i got $50k a year for what i do id save alot by living with mum n dad then i'd be set for fishing well and truly no if this 4m boat im talking at least 7m!! cos id had enough time to get set as well!!
Tight Lines
Martin

[BlitzBaga]

There is some fantastic money to be made frome the tourism/leasure industry. My cousin gets well over $100 000 US and it's tax free , he was a cheif engineer and now a captain of a large super yatch that cruises the Greek Isles and the Carribean Islands. Good job but he is away for at least 6months at a time and he says he is always on duty.

Cheers
Murray

[bugman]

This is hard topic to nail down.

I agree with many answers so far in that; the more money I have the more I spend. I guess my question was related to, how much income I could cut back and still survive.

Leanne and I are pretty comfortable with a combined household income of well over $100,000 gross but it we struggle to keep up with the pack rather than get ahead.

It seems lately the more I earn - the more I borrow but I'm hopeful that will pay off somewhere in the long run - only problem is that I can't live the lifestyle I really want now.

I was thinking of quitting and living on Leanne's wage - maybe even become a house husband. Lots of time for fishing - but then I'd have to buy a new boat.

Starting a business is so attractive for nothing other than minimizing tax. $50-$60,000 of our income goes to the government in direct taxes and how much more in indirect. I've got friends that earn $100,000 plus through businesses and pay a flat 24 or 30% tax rate. That's what I need.

Bugman

[craigie]

Brett,

Interesting topic mate (have yet to read through Jeffo's on 'How much we earn').

The whole thing about earning a buck is about what extras you can buy with the 'Leftovers' or Lifestyle choices.
You start with the basics, a car that works, somewhere to live, Boat and a shit load of fishing gear
When you start to earn a little more the extra is put into upgrades, e.g. A new car, better/bigger boat, move to a new house etc, so at the end of the day no matter how much you earn you just spend it to upgrade your standard of living.
Oh, are we suppose to save any money ??

Well that's the basics on my philosophy of life. My 35k doesn't allow for Houses or new cars, but I did get the boat upgrade and fishing gear . Naturally a spouse and children would re-shuffle these priorities

Cheers
Craigie.

[jaybee]

pensioners havn't been covered here, i am on a disability support pension and work perm part time, that may end tho after the next lot of back surgery, or all goin well they may get it right for once and i can go back full time. bugger they have had two attempts now, if it don't work i will have a boat for sale.
cheers
Joe.

[firetruck]

Acceptable wage is a hard thing to define. As cheech said there are a lot of variables to consider and what is accpetable to a single person and a family will be vastly different.

As a single 27 yr old with no dependents i reckon my wage (60k) is great for me but if i had a wife and 3 kids it would be a different story. I agree with the others, the more you earn the more you spend.

[bugman]

By annual income, I actually meant entire household husband/wife and I guess a couple of dependents.

Looking at the poll so far - a whack of people out there are either

a) doing it tough
b) have worked out how to live frugally (please tell me)
c) are single without dependents.

Bugman

[Heath]

Learning to live within your means is the lesson most people miss. Its all too easy to let it get away from you. You have institutions offering you loans, credit cards etc, you have places like crimeconverters that lend you a grand at the drop of a hat & then charge 25% interest or something like that. Interest free periods, no repayments for 36 months and all that. Soon enough you have more bills and repayments than you do income.

Work out a budget & live within it. Not having a go at anybody or demographic but people always seem to have money for smokes or a case of piss, but then ask for a couple of bucks for the nappies for junior. Where are their priorities?

3 years ago I dropped about 25K in wages when my shiftwork ended. It hurt like hell for the next 6 months learning to wind back spending. But in the end you can do it... you have to!

That was 3 years ago, while having clawed about 10K back since then, in the last 12 months have bought a renta, new boat & car, so while learning to budget hurts, it does allow you to move forward at a rapid pace a few years down the track.

[bugman]

Heath,

I agree. I'm really into forced saving nowdays. I used to be very frugal but like Craigie said - got a bit caught in the upgrade mentality.

Now I borrow shitloads of money from banks for investment purposes and have to pay it back (or at least the interest) on regular basis. Hopefully the investments make more money than the loan repayments and supposedly make money in the long run. Keeps my short term spending limited though.

I'll let you know how I go in 50 years.

Bugman

[Lucky_Phill]

Ah Brett, what a subject !

Most of the people who have popsted info here sound genuine in their story, and THAT is the key. Most people out there are struggling to a degree.

Being in the building industry, I see every side of the wage/ salary/ pps/ contract debate. I see guys form painters to brickies make $2,000 a day, and then the same guys down the track get a bounced cheque for $10,000.

Brett was amazed when I told him my ' tax ' rate, but in the long run, self employed people have deductions for reasons. That is to keep our heads above water.

50K on salary sounds good, but knock off the 20k in tax, and that is not so good. Cheech and others are right, the more you have the more you spend.

example :- Phill buys XXXX Gold........Brett buys Caffery's. triple the price............triple the income.

Another thing that bugs me is the big money guys. Take big income to a bank, they'll lend you the world, take the average income ( or worse still, tradesmen taxable income ) to the bank, It's like someone told a joke and the whole world is laughing.

I am definately well under the 50k bracket, and I live to that amount. Although people around me wonder about that, as I take at least 6 weeks off a year.


The answer is, Brett, live to your current income and the lifestyle will follow. Life is far too short to be worried about what Mr Jones next door is buying.

( Keeping up with the pack ) ???????????? which pack you running with ?

Run in my pack Brett, and you can toss the job, you won't need the extra $$$$$. You won't be able to drink Cafferry's either

Good post, good replies, and damn good people !

Cheers Phill

[corza85]

i am lucky if i make $22 000 a year wich most people would think is crap money (i do to) and that is b4 tax mind you.. i am a brickies labourer and it would have to be the worst job i have ever done but i keep doin it cos it is great rugby league training..




cheers...........................corza

[bubba]

damn, now u made me think.... wife and i are on $100 K +, used to live the high life. have toned it down and are slowly getting ahead. Best advice is work to a budget and stick to it. its tough but worth it in the long run. set goals and work towards them. am thinking of chuckin job in and taking one that pays less but more time at home. i have all i need, food, shelter, and family, and cars and boat.might not b the flashest, but its mine!!!!hope this helps.
cheers bubba....