How much money it takes to be happy in South Africa

[s0lar]

I'm in that 1% and my bond in a relatively affluent/upper-middle class area in Jhb is 18k a month. My total household monthly expenditure is not even 40k. Get to save plenty and travel on a whim if I want to. We get by on far less than a bar.

Lol, my bond isnt 40k. I am drawing a parallel. I know fair well how much property costs in JHB, I still own property there.

If people are spending 40k on a bond and struggling to make ends meet then there's nobody else to blame. Why does the house have to be in the southern suburbs? Why does it even have to be in Cape Town? Surely if you're struggling on what should be a decent living wage, some lifestyle changes are needed...

I am lucky enough to be earning USD which pushes me into a range outside of the South African norm. That said with what is called an extravagant amount of earnings by South African standards does not go as far as you may think. If anything I wonder why I scrooge so much and don't buy a new car as mine was paid off years ago as an example. For myself and my family we live by experiences over things when it comes to our spend.

Point here is earning a million is not what it was a few years ago in the context of this thread of "financial happiness".

 

[azbob]

The funny thing is that the people complaining that R1m isn’t enough are the same people that expect others to live on less than the current minimum wage.

 

[Sinbad]

Money can't buy happiness
But it's much more comfortable to cry in a Bentley than in a citi golf

 

[MikeaMatrix]

The funny thing is that the people complaining that R1m isn’t enough are the same people that expect others to live on less than the current minimum wage.

 

[R13...]

I am one unhappy chappie. Most unhappy.

 

[RedViking]

The path to your happiness lies in a 11g dose of coffee per serving.

If you drink Decaf, yes.

 

[RedViking]

I am one unhappy chappie. Most unhappy.

I'm happy for you.

 

[s0lar]

The funny thing is that the people complaining that R1m isn’t enough are the same people that want to pay workers less than minimum wage.

Who? point them out, comrade. Take them to task. TAX the middle class out of them if need be.

 

[R13...]

I'm happy for you.

So, it is you stealing my happiness money

 

[konfab]

Someone earning a R1m a year will take home R700 063 after tax. That is R58 338 per month.

Lets say a family of 5, two adults and 3 kids, plus they support mum's parents with medical aid.

Medical aid isn't a luxury, but a necessity. So lets say they get the best plan available to the general public. That would be something like Discovery executive. That is 7,688 per adult and 1,468 per kid.

So just medical aid alone would be R35 156. So that leaves a family of 5 with R23182 for eveything else. Home loan for a decent sized house would be maybe R15k? That leaves R8000, which would not be enough for school fees, electricity, water, insurance, fuel, and food.

If earning a million a year cannot even buy a family the best health insurance in the country with plenty to spare, then you really are not in the "rich" category.

 

[azbob]

Someone earning a R1m a year will take home R700 063 after tax. That is R58 338 per month.

Lets say a family of 5, two adults and 3 kids, plus they support mum's grandparents with medical aid.

Medical aid isn't a luxury, but a necessity. So lets say they get the best plan available to the general public. That would be something like Discovery executive. That is 7,688 per adult and 1,468 per kid.

So just medical aid alone would be R35 156. So that leaves a family of 5 with R23182 for eveything else. Home loan for a decent sized house would be maybe R15k? That leaves R8000, which would not be enough for school fees, electricity, water, insurance, fuel, and food.

1 bar doesn't go far in South Africa. You would have to still be careful about which medical aid you go on.

Why is this person having 3 kids if they can’t afford it?

 

[Sinbad]

Someone earning a R1m a year will take home R700 063 after tax. That is R58 338 per month.

Lets say a family of 5, two adults and 3 kids, plus they support mum's grandparents with medical aid.

Medical aid isn't a luxury, but a necessity. So lets say they get the best plan available to the general public. That would be something like Discovery executive. That is 7,688 per adult and 1,468 per kid.

So just medical aid alone would be R35 156. So that leaves a family of 5 with R23182 for eveything else. Home loan for a decent sized house would be maybe R15k? That leaves R8000, which would not be enough for school fees, electricity, water, insurance, fuel, and food.

1 bar doesn't go far in South Africa. You would have to still be careful about which medical aid you go on.

your maffs doesn't seem right. The medical aid would be 19765
Your point is still valid.

 

[RedViking]

So, it is you stealing my happiness money

You sold your pity for a dime.

 

[konfab]

your maffs doesn't seem right. The medical aid would be 19765
Your point is still valid.

I used the situation where they are supporting mum's parents. So there are 4 adults and 3 children. Which is 4*7688+3*1468

 

[konfab]

Why is this person having 3 kids if they can’t afford it?

That isn't the point of the exercise, the point is to show that earning R1m a year doesn't put a person in normal circumstances into the category where they can buy the best medical package in the country.

They would still have to pick a lower plan in order to afford a middle class lifestyle.

 

[Sinbad]

I used the situation where they are supporting mum's parents. So there are 4 adults and 3 children. Which is 4*7688+3*1468

Right you are, sorry I missed that line.
Jirre as much as I like my wife's parents I wouldn't pay for executive plan for them

 

[Mike Hoxbig]

Someone earning a R1m a year will take home R700 063 after tax. That is R58 338 per month.

Lets say a family of 5, two adults and 3 kids, plus they support mum's grandparents with medical aid.

Medical aid isn't a luxury, but a necessity. So lets say they get the best plan available to the general public. That would be something like Discovery executive. That is 7,688 per adult and 1,468 per kid.

So just medical aid alone would be R35 156. So that leaves a family of 5 with R23182 for eveything else. Home loan for a decent sized house would be maybe R15k? That leaves R8000, which would not be enough for school fees, electricity, water, insurance, fuel, and food.

If earning a million a year cannot even buy a family the best health insurance in the country, then you really are not in the "rich" category.

Again why must it be the best plan available? And why isn't the lazy ass wife also working especially to help support her parents? 35k for medical aid is beyond ridiculous.

15k just for them, jeez man now we're scraping the bottom of the barrel to find exceptional circumstances to determine why 1m is peanuts...

 

[azbob]

That isn't the point of the exercise, the point is to show that earning R1m a year doesn't put a person in normal circumstances into the category where they can buy the best medical package in the country.

They would still have to pick a lower plan in order to afford a middle class lifestyle.

They would be in a better position if they didn’t have 3 kids.

 

[Sepeng]

Money can't buy happiness
But it's much more comfortable to cry in a Bentley than in a citi golf

That's just it.

I've been poor and happy.
I've been poor and sad.

Wouldn't mind trying out being rich and happy, or even rich and sad for a bit. You know, mix things up.

 

[surface]

Lets say a family of 5, two adults and 3 kids, plus they support mum's parents with medical aid.

You left out dad's parents and mum's & dad's grandparents on medical aid. It is very difficult to support a family of 13 with a 1 mil as there will be at least 6 dogs & 6 cats as pets.