How much $$$$$$$$$$ do you need to live well in South Africa.

[ToxicBunny]

True, but. At the rate things increase your R1m house or R60k is not going to get you far. If your salary doesnt increase and in five years time your replacement car is going to cost R100k, what then. Granted you wont move house, unless the area become completely dodgy. The more you earn now and you invest money the better it will be in the long run. I had a similar idea about what I have, but the last couple of years and certain events have changed my opinion. Im going to aim for more and squirrel it away, for future just in case.

Yeah I'm aware of that...

But people are classifying living "well" as living large in my opinion.

 

[D3x!]

holy eff people are fscked up, can't beleive the kind of money people earn and waste

 

[Nefertiti]

Yeah I'm aware of that...

But people are classifying living "well" as living large in my opinion.

I am with you

 

[D3x!]

Yeah I'm aware of that...

But people are classifying living "well" as living large in my opinion.

the word extravagant comes to mind...

 

[Messugga]

Wow. I thought you were exaggerating but I just checked the prices of empty plots in affluent Pretoria suburbs on privateproperty.co.za. Indeed, they really do go for R 1 million.

Uhuh. I was considering building a house but after looking at what land goes for in the affluent areas, decided I'm pretty happy with where we're currently living. It's pretty insane actually.

 

[Messugga]

holy eff people are fscked up, can't beleive the kind of money people earn and waste

Keeping up with the Joneses is a horrible thing and a trap a lot of people fall into. The simple life is where it's at but it's difficult in the big cities. We're a pretty messed up society actually.

Personally, my dream is to retire early in a house on a beach where I can walk my dog every morning and tinker in my garage with my hobbies. Damn hard to get to that point though.

 

[ToxicBunny]

Keeping up with the Joneses is a horrible thing and a trap a lot of people fall into. The simple life is where it's at but it's difficult in the big cities. We're a pretty messed up society actually.

Personally, my dream is to retire early in a house on a beach where I can walk my dog every morning and tinker in my garage with my hobbies. Damn hard to get to that point though.

We're on a similar wave length.. though I'm undecided between the beach and the midlands/lower berg..... both have their pros and cons.

 

[Dolby]

Not likely to get another as good as this one. Bit of a fluke as is, in my opinion.

Does she read MyBB?

 

[Messugga]

Does she read MyBB?

She says no but better safe than sorry

 

[Dolby]

lol

 

[noxibox]

But yes it is all relative. No matter where you go the answer will vary.

If they were from Europe and could afford the equivalent of a 4 million Rand South African house and property there, then they wouldn't even need to ask about living or housing costs in South Africa. Even taking relative incomes into account houses in South Africa are still cheap by comparison.

 

[Dolby]

Well lets calculate how much you would need.

Mortgage expense for a R3 million townhouse or house - roughly R30k per month.
Fuel costs for 2 adults, assuming 2 relatively fuel efficient cars - R2k per month.
Car repayment costs, assuming 2 mid level cars bought over 5 years - R5k per month each, R10k total
Insurance costs for 2 cars and household contents - R3k
Food, entertainment and communication - R15k. This includes cellphones, ADSL and DSTV
Schooling expenses assuming private schooling - R10k per month per child, or R20k per month.

Total: R70k per month net income required. You would need roughly R100k combined gross income to achieve this.

Add R5,000pm for rates, electricity etc
Fuel costs are very light too - I'd double add another R2,000pm
Medical Aid - R5,000pm
Helper? - R4,000.00

That's closer to R140,000 gross, assuming zero saving at all as well

 

[D3x!]

15k per month on food entertainment and communication wtf

 

[Messugga]

15k per month on food entertainment and communication wtf

Sure. 4 cellphone contracts = R2+k. Dstv is near as makes no difference to R1k. Uncapped internet = R1200. Thats almost a third of the budget gone.
Restaurant outing once a month for 4? R1k. Food... Wife does the shopping so I have no idea but probably 3 or 4k for a family of 4, especially if you have a gardener and housekeeper.

 

[HavocXphere]

Some mighty big numbers in this thread...

 

[goga]

Add R5,000pm for rates, electricity etc
Fuel costs are very light too - I'd double add another R2,000pm
Medical Aid - R5,000pm
Helper? - R4,000.00

That's closer to R140,000 gross, assuming zero saving at all as well

Its relative to your age and how you've behaved/been blessed over the first 10-15 years of your working life.
Many professionals would have moved up in earnings fairly quickly such that once they have wife and 2 kids and 2 cars, their house is pretty much paid up.
So R120k-R140k is perfectly okay for them, because the huge bond expense is not there. They've already dealt with then in the first 10-15 years of working life.

This thread doesn't specify (or I'm too lazy to go back and read) but if you ask "live well if you earned zero previously and have no asset base built up despite being mid-30's married with 2 kids and were told today to go out with Rxxxxx,xx and live well" - then yes R2m++ please.

If like most you've got some asset base built up by that point, some at least, then you can do okay on less.

Again, huge variances based on life, circumstances and peoples paths taken. Theres qualified docs who are in their early 30's sitting on cash piles not knowing what to do with it. Theres qualified CA's who are "getting by" comfortably but not lavishly. And theres others who have not had significant enough earnings to build a base yet, despite being 35yo etc.

 

[D3x!]

Sure. 4 cellphone contracts = R2+k. Dstv is near as makes no difference to R1k. Uncapped internet = R1200. Thats almost a third of the budget gone.
Restaurant outing once a month for 4? R1k. Food... Wife does the shopping so I have no idea but probably 3 or 4k for a family of 4, especially if you have a gardener and housekeeper.

2k on cellphone contacts with uncapped internet? Who are you calling? Lol no idea what your food cost per month is lol :/

 

[Messugga]

2k on cellphone contacts with uncapped internet? Who are you calling? Lol no idea what your food cost per month is lol :/

Uncapped internet is for the home, cellphone is for work. Kids want nice phones though. R300pm x4 and you haven't even phoned much yet.

 

[satanboy]

2k on cellphone contacts with uncapped internet? Who are you calling? /

We are two people and ours is almost there. I hardly phone anyone...my calls are R0,00 every month.

 

[Dolby]

Yea I'm a single person cellphone R650.00, tablet R350.00, ADSL R650.00 - that's R2k without DTSV. If I added that and my Netflix, that's R3k alone - 1/5 of the budget for a single person without food.