How much salary is decent these days?

[Redeemed]

How so, if I may ask. It just proves that not everything you read is based on facts.

Where did I say it was based on facts? And by "how so" what exactly are you asking me?

 

[cguy]

For me, if you can't afford to lose or quit your job, then that is not a comfortable life.

Very good point. I think that this is subjective, but I am like that too - it's a different quality of life when you know you have enough savings to support your current lifestyle for a long time (months, years, or even better - to retirement). Some people just live paycheck to paycheck, overspending, and then expect others to bail them out when the s*** hits the fan. I couldn't live like them if I tried - I couldn't handle the stress.

 

[Paul_S]

i earn way less than that
i wear good clothes ...have a paid for car ...have money for a place if i need to
i eat out regularly
i go out more than often
i have what i want
what more do i need

Have you provided for your retirement?
i.e. When you stop working for a corporate (because the retirement age is 65) what are you going to live on for the next 20 to 30 years?
I'd rather battle when I'm young to put away enough so that I do not have to battle when I'm old.

 

[I.am.Sam]

Have you provided for your retirement?
i.e. When you stop working for a corporate (because the retirement age is 65) what are you going to live on for the next 20 to 30 years?
I'd rather battle when I'm young to put away enough so that I do not have to battle when I'm old.

im still young (26) and i cant afford to at the moment ...but yes you have it right with the battling now

but yes thats all in the pipeline

why drive a car thats beyond your means or live in a place thats costly

get something where you can save and in 5 years you can most likely own much better stuff

 

[azbob]

im still young (26) and i cant afford to at the moment ...but yes you have it right with the battling now

but yes thats all in the pipeline

why drive a car thats beyond your means or live in a place thats costly

get something where you can save and in 5 years you can most likely own much better stuff

Maybe start saving for retirement instead of buying all those designer clothes

 

[Paul_S]

get something where you can save and in 5 years you can most likely own much better stuff

Good. Too many people don't save or invest when they have the chance to and end up in tight spot later in life (no income, no paid off, roof over their heads and maybe not even money to buy food).
Only 6% of South Africans can afford to retire when they reach 65.

 

[I.am.Sam]

Maybe start saving for retirement instead of buying all those designer clothes

maybe start taking out from your retirement and buy you some bling for your car

 

[homeboy]

The proposed minimum wage of R4 500 is decent, any amount more than that is extravagant.

what can you do with a R4500? nothing! for me as a bachelor the flat is about R2500 to R3500 in my small town, where are are your monthly expenses?

 

[I.am.Sam]

Good. Too many people don't save or invest when they have the chance to and end up in tight spot later in life (no income, no paid off, roof over their heads and maybe not even money to buy food).
Only 6% of South Africans can afford to retire when they reach 65.

yeah all in time ..if you can afford to its best you do

 

[hellfire]

Again, when you guys say Net, are you including or excluding things like medical aid and pension ?

If you mean people net 25k after medical aid and pension as well, then that I think is a pretty good salary.

Your above calculations come up to 17k, if people are net'ing 22.5k (in between your two ranges), that leaves them with 5.5k extra income. Take 2k for entertainment and there is still 3.5k left lying around.

Personally, I dont see that as just scraping by, but then again, Im not a bajillionaire like most of the people here

I refer to net as after tax, before other deductions. It's a big generalisation to say most people have medical aid and pension deducted via payroll

 

[azbob]

maybe start taking out from your retirement and buy you some bling for your car

low blow

 

[rorz0r]

Haha. My clothes probably border on "terrible" compared to most peoples budgets. It's literally 4 pairs of woolies chinos, one pair of jeans, 1 pair of "smart casual" shoes, one pair of "smart formal" shoes and one pair of takkies, 5 shirts, 2 pairs of shorts, about 5 decent t shirts plus a whole lot of undies and socks. Oh and a jacket and 2 suits. Excluding the suits that can probably all be had for under 3k, which is what some guys spend on their "manbags".
As for retirement provisions I started contributing at about 23. I bought a house at 25 and that's mostly paid off so retirement contributions haven't been very high but I contribute about 10% of my gross.

 

[rorz0r]

what can you do with a R4500? nothing! for me as a bachelor the flat is about R2500 to R3500 in my small town, where are are your monthly expenses?

In JHB you can barely rent a room in a shared flat for that unless you're living out in the sticks and paying about that much on fuel as well.

 

[Velenoso]

A 'comfortable" life? One can be comfortable in a lot of circumstances. I'm comfortable if we can go out to dinner once a month or a movie or something. We don't have a car payment or R3000 of fuel a month. There are factors that can be cut down in your equation. It doesn't mean it's an easy life, and you don't have to make hard choices on cutting things, but it also isn't penury.

i earn way less than that

i wear good clothes ...have a paid for car ...have money for a place if i need to

i eat out regularly

i go out more than often

i have what i want

what more do i need

Look, you could be comfortable sharing a room with three guys, eating beans and porridge as well. Comfortable is relative. What I posted in my initial post is what I consider the minimum for a RELATIVELY comfortable existence. I.e. 20-25k per month.

Again, when you guys say Net, are you including or excluding things like medical aid and pension?

If you mean people net 25k after medical aid and pension as well, then that I think is a pretty good salary.

Your above calculations come up to 17k, if people are net'ing 22.5k (in between your two ranges), that leaves them with 5.5k extra income. Take 2k for entertainment and there is still 3.5k left lying around.

Personally, I dont see that as just scraping by, but then again, Im not a bajillionaire like most of the people here

No, no excluding. Not all companies have those 'benefits'. Lets just say that you do manage to live like huck finn and you are left with 3.5k per month. What's it gonna do for you anyway? This is very unlikely, you'll end up spending everything like that.

For me, if you can't afford to lose or quit your job, then that is not a comfortable life.

This is my philosophy as well. However, its easier said than done on a salaried job.

what can you do with a R4500? nothing! for me as a bachelor the flat is about R2500 to R3500 in my small town, where are are your monthly expenses?

That's if you're 18 and live with mom and dad. Booze money, that's all.

we do actually

I pay myself 75k a month from the two companies here. The SO gets 35k from which she also runs the household. From this, I don't pay any rent/bond, any car installments, etc.

 

[I.am.Sam]

Haha. My clothes probably border on "terrible" compared to most peoples budgets. It's literally 4 pairs of woolies chinos, one pair of jeans, 1 pair of "smart casual" shoes, one pair of "smart formal" shoes and one pair of takkies, 5 shirts, 2 pairs of shorts, about 5 decent t shirts plus a whole lot of undies and socks. Oh and a jacket and 2 suits. Excluding the suits that can probably all be had for under 3k, which is what some guys spend on their "manbags".
As for retirement provisions I started contributing at about 23. I bought a house at 25 and that's mostly paid off so retirement contributions haven't been very high but I contribute about 10% of my gross.

well if you buy at mr price (looks at abzo) then you could have had alot more for 3k

and yes its better to have a house before a nice car

 

[azbob]

well if you buy at mr price (looks at abzo) then you could have had alot more for 3k

and yes its better to have a house before a nice car

:wtf: 2 pairs of boxers!

 

[OrbitalDawn]

I pay myself 75k a month from the two companies here. The SO gets 35k from which she also runs the household. From this, I don't pay any rent/bond, any car installments, etc.

How many houses do you have? They all paid off?

 

[cerebus]

I have a retirement scheme provided from my work that's pretty generous but I actually have no plan to retire at the age of 65. I'll work for 10 years beyond that if my health allows. Retirement is overrated.

 

[I.am.Sam]

I have a retirement scheme provided from my work that's pretty generous but I actually have no plan to retire at the age of 65. I'll work for 10 years beyond that if my health allows. Retirement is overrated.

what about playing golf on some estate that you live on ?

 

[syntax]

Look, you could be comfortable sharing a room with three guys, eating beans and porridge as well. Comfortable is relative. What I posted in my initial post is what I consider the minimum for a RELATIVELY comfortable existence. I.e. 20-25k per month.

No, no excluding. Not all companies have those 'benefits'. Lets just say that you do manage to live like huck finn and you are left with 3.5k per month. What's it gonna do for you anyway? This is very unlikely, you'll end up spending everything like that.


I pay myself 75k a month from the two companies here. The SO gets 35k from which she also runs the household. From this, I don't pay any rent/bond, any car installments, etc.

Ok, so 20 - 25k excluding medical and pension i think is a little more fair then.
However, 3.5k extra a month (in your pocket) is not a small amount. To be fair, you are coming from a position of wealth, where it doesn't mean that much.

Others would find that 3,5k extra play money a month is quite a substantial amount to be left with.

As always though, almost everyone lives to their means. I have only just stopped doing this, and am looking at downgrading my car even further, investing a bit more and trying to make life a bit easier for me in the upcoming 10 years or so.
It has taken me almost 8 years of working to realise I need to do this