Monthly Expensive F

PPLdude said:
My brother in Christ I can clearly see that is R75 524 coming in

Nice salary though
Click to expand...
I only show what I want you to see kek kek.
My finances are more complex than that.

dividends, Rental income, Income from trust and businesses man it's a nightmare really.
 
eepr0m said:
I only show what I want you to see kek kek.
My finances are more complex than that.

dividends, Rental income, Income from trust and businesses man it's a nightmare really.
Click to expand...
That does sound rather complicated. Surely you can streamline or simplify some of it?
 
Did a similar exercise for someone the other day on Carb. The only difference is 1 child.


Medical (2 adult 1 child)7500
Pension/retirement20000
Bond (3 bed 2.5mil)25000
Home insurance (building and inside)1000
Rates, water, refuse2000
Car (corolla)9500
Car insurance1500
Petrol3000
Entertainment (1k per weekend)4000
Food (2k per week for family of 3)8000
Electricity2000
Cell - nothing fancy600
Internet750
School Fees - not private5000
Clothes - remember family of 3 with growing child1500
Armed response500
Onlyfans subs (just jokes, netflex etc)500
Bank fees240
Total
92590​

That is what you need to pay. You (or you and your partner combined) need to earn about R145k pm before tax to afford that. Thats about 1.7m per annum.
This is excluding savings (super important as you are always fixing/replacing stuff) and hobbies... A decent bicycle or computer is R50k these days.

These are realistic figures if you want this tomorrow. Unless you have Mommy and Daddy bankrolling you, most people keep a car for 10 years and rent a flat while saving for a house deposit. It really helps get the bond down.
 
If you have a house and car already, the sums look much better. If not, I would say the below would get you onto the bottom rung of 'western middle class'. Not what the government somehow classifies as middle class.

Bond/Rent 15000
Water, Rates, Electricity 3000
Car payment (cheapest new car you can buy) 4000
Insurance for house and car 2000
Phone 200
Internet 600
Medical aid 2000
Life insurance 1000
Retirement savings?
Groceries 5000?
Petrol 2000?
Sundries 1000?

So that's just short of 40k for 1 person. If you have any of the following, prepare for a lot more

Kids
Hobbies
Actually saving for retirement
Wear clothes
Eat out, Takeaways
Drink beer
Smoke
Have a gardener/maid/nanny
 
PPLdude said:
That does sound rather complicated. Surely you can streamline or simplify some of it?
Click to expand...
that is what the trust is for. The trust owns the businesses , properties. My Wife,son and I are trustees. the Trust is used to funnel Salaries/dividends to trustees. The trust provides continuity should any of the trustees die then there will not be any transfer cost's involved on the properties as the trust does not die with the trustees.
the trust itself does not make a profit as trusts are taxed at a very high tax bracket. My wife and I actually draw small salaries and are paid dividends by the businesses/Trust once, twice or three times a year to avoid paying high income tax. Dividends are only taxed at 20%.

Like I said.... it's complicated...
 
Brawler said:
Did a similar exercise for someone the other day on Carb. The only difference is 1 child.


Medical (2 adult 1 child)7500
Pension/retirement20000
Bond (3 bed 2.5mil)25000
Home insurance (building and inside)1000
Rates, water, refuse2000
Car (corolla)9500
Car insurance1500
Petrol3000
Entertainment (1k per weekend)4000
Food (2k per week for family of 3)8000
Electricity2000
Cell - nothing fancy600
Internet750
School Fees - not private5000
Clothes - remember family of 3 with growing child1500
Armed response500
Onlyfans subs (just jokes, netflex etc)500
Bank fees240
Total
92590​

That is what you need to pay. You (or you and your partner combined) need to earn about R145k pm before tax to afford that. Thats about 1.7m per annum.
This is excluding savings (super important as you are always fixing/replacing stuff) and hobbies... A decent bicycle or computer is R50k these days.

These are realistic figures if you want this tomorrow. Unless you have Mommy and Daddy bankrolling you, most people keep a car for 10 years and rent a flat while saving for a house deposit. It really helps get the bond down.
Click to expand...
-School fees if not private seems a bit high....
-No need for such a expensive car
-Sounds like you have Discovery's Classic saver or coastal package.. there are cheaper alternatives.
-I cannot judge on the 2k per week for food
-Do you get comparison quotes yearly from different insurance companies? You should. I'm sure you could get insurance cheaper with the same cover.
-Pension - Do you diversify?RA/ Pension fund, savings, Shares, TFSA, other property?
+1 for everything else. that seems on par with some of my expenses except for my cellular account... I can save a bit there.
 
eepr0m said:
-School fees if not private seems a bit high....
-No need for such a expensive car
-Sounds like you have Discovery's Classic saver or coastal package.. there are cheaper alternatives.
-I cannot judge on the 2k per week for food
-Do you get comparison quotes yearly from different insurance companies? You should. I'm sure you could get insurance cheaper with the same cover.
-Pension - Do you diversify?RA/ Pension fund, savings, Shares, TFSA, other property?
+1 for everything else. that seems on par with some of my expenses except for my cellular account... I can save a bit there.
Click to expand...
This isn't me exactly but ballpark. I removed the exact details for obvious reasons.
-CT prices? My kid is 3 and her school provides food so maybe it gets cheaper when they older.
-A Corolla class car really isn't premium. In my case, I paid off my car 5 years ago and still have it. Eventually I will need to replace it though with those kind of numbers.
-Ballpark figures used for Medical Aid/Pension/Insurance
 
Brawler said:
Did a similar exercise for someone the other day on Carb. The only difference is 1 child.


Medical (2 adult 1 child)7500
Pension/retirement20000
Bond (3 bed 2.5mil)25000
Home insurance (building and inside)1000
Rates, water, refuse2000
Car (corolla)9500
Car insurance1500
Petrol3000
Entertainment (1k per weekend)4000
Food (2k per week for family of 3)8000
Electricity2000
Cell - nothing fancy600
Internet750
School Fees - not private5000
Clothes - remember family of 3 with growing child1500
Armed response500
Onlyfans subs (just jokes, netflex etc)500
Bank fees240
Total
92590​

That is what you need to pay. You (or you and your partner combined) need to earn about R145k pm before tax to afford that. Thats about 1.7m per annum.
This is excluding savings (super important as you are always fixing/replacing stuff) and hobbies... A decent bicycle or computer is R50k these days.

These are realistic figures if you want this tomorrow. Unless you have Mommy and Daddy bankrolling you, most people keep a car for 10 years and rent a flat while saving for a house deposit. It really helps get the bond down.
Click to expand...
giphy.gif
 
The below is the costs for a young couple in the Northern Suburbs of CPT. This is really "entry-level middle class" with you owning and paying off your own home.

The scenarios is that they have just bought a 100 sqm + double garage townhouse in Durbanville (with the help of Dad). It is 3 bedrooms (one used for guests the other as a work from home room). They own 2 cars, the one is an old student car which is debt free, the other a basic entry level "family sized" car of R300k which is being payed off over 6 years with a 30% balloon payment.
The critical expenses are the absolute minimum that is needed. Groceries are bare-bone middle-class stuff and is pasta, bread, chicken, instant coffee based.
The essential expenses allows for "fancier" food, including a sub-R100 bottel of wine once a week. It allows for subscription entertainment services, some take-outs and a cleaner and gardener once a week, the gardener also washing the cars every now and then.

It includes no saving and uses a low cost digital-only bank account. Each receives a 13th check and this money is used for holidays, savings etc.

To be able to afford the below, it will require both partners to earn a salary of R35k gross (the after tax net in 2023/2024 will be R28,533) which will give you a combined take-home salary of R57,066.

CRITICAL
Medical (2 adults Keycare hospital plan)
R3,000​
Bond (3 bed townhouse 2.5mil)
R25,000​
Insurance (house, cars, home content of R300k)
R2,500​
Rates, water, refuse
R2,500​
Car (one R300k being paid off, the other is an old student car which nothing is owed on)
R5,100​
Petrol (3 tanks per month)
R2,500​
Groceries - food
R4,000​
Groceries - cleaning and toiletries
R1,500​
Electricity
R1,200​
Cell (2 voice/data only contracts - MTN 12GB/100min - handsets are exisiting ones)
R800​
Home internet (Cool Ideas FTTH 50/50)
R700​
Armed response
R450​
TotalR49,250
ESSENTIAL
Clothing
R1,500​
Take-out / restaurants
R2,000​
Entertainment (subscriptions / movies / shows)
R1,000​
Groceries up (adding "fancier" food and wine)
R2,000​
Cleaner / gardener (each once a week)
R800​
TotalR7,300
R56,550​
 
Affieplaas said:
The below is the costs for a young couple in the Northern Suburbs of CPT. This is really "entry-level middle class" with you owning and paying off your own home.

The scenarios is that they have just bought a 100 sqm + double garage townhouse in Durbanville (with the help of Dad). It is 3 bedrooms (one used for guests the other as a work from home room). They own 2 cars, the one is an old student car which is debt free, the other a basic entry level "family sized" car of R300k which is being payed off over 6 years with a 30% balloon payment.
The critical expenses are the absolute minimum that is needed. Groceries are bare-bone middle-class stuff and is pasta, bread, chicken, instant coffee based.
The essential expenses allows for "fancier" food, including a sub-R100 bottel of wine once a week. It allows for subscription entertainment services, some take-outs and a cleaner and gardener once a week, the gardener also washing the cars every now and then.

It includes no savings, no holidays and uses a low cost digital-only bank account.

To be able to afford the below, it will require both partners to earn a salary of R35k gross (the after tax net in 2023/2024 will be R28,533) which will give you a combined take-home salary of R57,066.

CRITICAL
Medical (2 adults Keycare hospital plan)
R3,000​
Bond (3 bed townhouse 2.5mil)
R25,000​
Insurance (house, cars, home content of R300k)
R2,500​
Rates, water, refuse
R2,500​
Car (one R300k being paid off, the other is an old student car which nothing is owed on)
R5,100​
Petrol (3 tanks per month)
R2,500​
Groceries - food
R4,000​
Groceries - cleaning and toiletries
R1,500​
Electricity
R1,200​
Cell (2 voice/data only contracts - MTN 12GB/100min - handsets are exisiting ones)
R800​
Home internet (Cool Ideas FTTH 50/50)
R700​
Armed response
R450​
TotalR49,250
ESSENTIAL
Clothing
R1,500​
Take-out / restaurants
R2,000​
Entertainment (subscriptions / movies / shows)
R1,000​
Groceries up (adding "fancier" food and wine)
R2,000​
Cleaner / gardener (each once a week)
R800​
TotalR7,300
R56,550​
Click to expand...
Life got expensive.
 
If you spending more than 5k on food a month, you are doing it wrong.
 
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