How much money do you earn? And how do you spend it?

[schuits]

My eyes are still watering from what some people are fortunate enough earn! (yeah I realise not everyone is honest either)
Also hopefully people who don't have RA's are investing for retirement themselves.

Late 30's, 4 member family, spouse contributes some to costs, but not factored in here.
15 years IT developer

Gross Income 52000
Net Income 37000

Homeloan 9200
RA 4400
Groceries 4000
Vehicle loan 2700
Home&Car Insurance 2100
Rates 2100
Fuel 2000
Life and income cover 1000
Internet and line 750
Dining out 450
TV 400
Bank charges 200
Cellphone 120
Other (less fixed spenditure) 4800
Total 34220

Before I though I was earning a pretty decent salary, until living expenses started climbing and now I worry every month about cash. I'm VERY happy I just got an increase (not factored into above). I don't splash out, and recently had to change my thinking.
Do I really need something? No? Then you can't have it.

 

[Kilgore_Trout_Redux]

...

That is pretty much the point where we were. It is no exaggeration to say that real world inflation is so out of control in South Africa that you can feel the reduction in spending power from month to month.

 

[TofuMofu]

Also hopefully people who don't have RA's are investing for retirement themselves.

This is SO important! Investment is very important for when you retire. It might seem far away, but the sooner you start the better.

 

[Rouxenator]

Retirement annuity, medical aid and life insurance are the most important things you should spend on. Second is accommodation and lastly transport.

 

[Lord Farquart]

Retirement planning

Fixed. Not everyone wants to feed brokers.

 

[Rouxenator]

Fixed. Not everyone wants to feed brokers.

+1 easy come, easy go

 

[senyetse]

Retirement annuity, medical aid and life insurance are the most important things you should spend on. Second is accommodation and lastly transport.

Add to that short term insurance for your house and vehicle.

 

[TobyD]

Wow! I guess its a long road to financial freedom but Im really inspired by some of what Im seeing here.

22yrs old Java intern
Stipend R6000

Rent: R3000 incl w/e
Groceries: R1000

Currently living a life of survival, I dont go out that much so I save just over a R1000.

the rent may be alarming but Im new in town(Jhb north) and I prefere comfortable living as I finally took the plunge so I quit the job I hated, got accepted for an internship, gf left me, moved out my moms house *but she offered to help if I ever need help (my day 1 hero). And hoping to make it big like the other top guys here ☺

 

[krycor]

Retirement annuity, medical aid and life insurance are the most important things you should spend on. Second is accommodation and lastly transport.

This.. while a lot of my peers have done other thing with money, i've always had these three and now they suddenly come around to fact that they need ra(or increase), life insurance(or increase) and suddenly don't know how to manage it as their budgets never included it.. mean time i'm getting ready for mba (instead of car) and they amazed that i have budget for it all.

 

[Grep]

snip.

Wow, dude, you are doing well! A life most would dream of!

 

[HavocXphere]

Should break the 1 bar barrier in June unless something goes horribly wrong at performance review. Bit meaningless since no longer in za but something to tick of the bucket list

Spending it mostly on travelling and a stupidly expensive apartment.

 

[TheBadMadMan]

Should break the 1 bar barrier in June unless something goes horribly wrong at performance review. Bit meaningless since no longer in za but something to tick of the bucket list

Spending it mostly on travelling and a stupidly expensive apartment.

How's that bar per annum treating you?

 

[cguy]

Should break the 1 bar barrier in June unless something goes horribly wrong at performance review. Bit meaningless since no longer in za but something to tick of the bucket list

Spending it mostly on travelling and a stupidly expensive apartment.

I had the same feeling when I crossed 1 bar - got there primarily through the Rand tanking though. ;-)

 

[HavocXphere]

I had the same feeling when I crossed 1 bar - got there primarily through the Rand tanking though. ;-)

Yeah - small victory but victory anyway.

How's that bar per annum treating you?

Well enough.

Starting to panic a little bit on the savings side so will be refocusing on that.

 

[^^vampire^^]

Yay I'm over a bar too now. Downside, it's in AUD and I live there so it doesn't go so far.
For anyone wondering the costs of being a Melbournite on $100k a year:

Income: $8333
Tax: $1965
Superannuation (retirement): $728
Nett: $5640
-------------------------------------

Rent (3 bed, 2 bath): $2173 per month
Car Insurance: $100
Life Insurance: $100
Groceries: $750
Water/Elec/Gas: $200
Cell phone (unl calls, unl SMS, 2.5 hrs to SA) x 2: $120
Medical Aid: $210
Bank Fees: $5
Uncapped Broadband (20Mb): $80
Gym: $75
Public Transport: $150
Pet Food (2 Dogs 3 Cats): $180
Foxtel (DStv Equivalent): $90
Rego: $90

Rest into savings.

 

[OrbitalDawn]

Yay I'm over a bar too now. Downside, it's in AUD and I live there so it doesn't go so far.
For anyone wondering the costs of being a Melbournite on $100k a year:

Income: $8333
Tax: $1965
Superannuation (retirement): $728
Nett: $5640
-------------------------------------

Rent (3 bed, 2 bath): $2173 per month
Car Insurance: $100
Life Insurance: $100
Groceries: $750
Water/Elec/Gas: $200
Cell phone (unl calls, unl SMS, 2.5 hrs to SA) x 2: $120
Medical Aid: $210
Bank Fees: $5
Uncapped Broadband (20Mb): $80
Gym: $75
Public Transport: $150
Pet Food (2 Dogs 3 Cats): $180
Foxtel (DStv Equivalent): $90
Rego: $90

Rest into savings.

Car repayment?

 

[Kilgore_Trout_Redux]

Yay I'm over a bar too now. Downside, it's in AUD and I live there so it doesn't go so far.
For anyone wondering the costs of being a Melbournite on $100k a year:

Income: $8333
Tax: $1965
Superannuation (retirement): $728
Nett: $5640
-------------------------------------

Rent (3 bed, 2 bath): $2173 per month
Car Insurance: $100
Life Insurance: $100
Groceries: $750
Water/Elec/Gas: $200
Cell phone (unl calls, unl SMS, 2.5 hrs to SA) x 2: $120
Medical Aid: $210
Bank Fees: $5
Uncapped Broadband (20Mb): $80
Gym: $75
Public Transport: $150
Pet Food (2 Dogs 3 Cats): $180
Foxtel (DStv Equivalent): $90
Rego: $90

Rest into savings.

Got a new job last month so here are the new figures :

Sitting pretty close to me - I'm earning $110,000 per annum inclusive of Super. (So also earning over a bar a month - Hey look Ma!)

After Super (Mandatory retirement savings for non-Aussies) and tax I walk away with $6100.

Rent : $1,525 (Small crappy 2 bedroom townhouse)
Car : $460 (New Mitsubishi Triton)
Insurance (2 cars & household) : $150
Health Insurance : $400
Extra Super Savings : $400 (Need to try to catch up having spent a lot of our life savings getting here and what is left in ZAR is worth nothing here.)
School Fees : $160 a year (And the school is better than a South African private school)
Petrol/Diesel : $250
Netflix : $10
ADSL2 : $70
Groceries : $1200 (Includes eating out once a month)
Prepaid mobile x2 : $60
Electricity : $400
-----------------------------------------
Total : $5025

Also, missus earns about $3000 working school hours so she can spend time with the kid.

We've been spending a bit on luxuries this month but we will save from next month for a deposit on a house in 2 years time...

Honestly, I have never felt this comfortable financially in my life. Some things are expensive here but you can live a decent middle class life here.

 

[CamiKaze]

What line of work are you guys in that are getting 1 bar?

 

[Kilgore_Trout_Redux]

What line of work are you guys in that are getting 1 bar?

Australian software engineer. The exchange rate helps - a lot.

 

[Frankie_Yale]

Australian software engineer. The exchange rate helps - a lot.

don't you miss SA?