Chevron
Serial breaker of phones
Rent? Transport?
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Rising costs hit middle-class hard
- Thread starter dlk001
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Rent? Transport?
ToxicBunny
Oi! Leave me out of this...
For 2 people, yes there would be minimal luxuries...
For one person, you can still do things like med aid, insurance etc etc.. but you don't really have money to go "partying"
daveza
Honorary Master
Rent included - fuel paid by company.
Supporting a family of 3 and living a "modest" lifestyle is pretty varking expensive.
Rent - R5k / Bond 7-10k
Tax @ 25k - R3700+
Groceries - R3k+
Medical Aid - R3k -4k
Retirement Savings / Provident Fund - R2k+. As close to 20% of income as you can possibly squeeze to retire at 63.
Fuel - R1.2k+
Electricity - R1k+
School Fees - R500+
Life/Disability/Income Insurace - R500+
Cellphone Contracts - R400+
So that's your basic bills which will gobble up most of your R25k. Depending if your renting or paying a bond, you will need to pay water and levies as well.
Basically you will have close to nothing left. With the left over money you will need to budget car repairs, various savings policies (tertiary education, rainy day, 4xMonthly pay emergency fund), afterschool activities/lessons, home maintenance, clothing, internet/landline etc. etc. etc. etc. and finally some spending money.....
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Chevron
Serial breaker of phones
Other Pineapple Smurf
Honorary Master
And I don't even have that. Took the risk of saying sod that, house before pension because I could at least get a rental income from that in the future.
But yeah, R25K does not touch sides, not even close. Have no idea how my nanny survives on R4K pm, but she has started to kick her kids out who don't work.
The_Ogre
Honorary Master
:wtf: am I that out of touch? is this what people put away as an emergency fund?>
Jola
Honorary Master
If you are getting benefits like those then your income is much higher than you think.
That's a mistake =P Should be 4x MONTHLY pay emergency fund. If you are the only income earner in your family, I would strongly suggest 12x though.
daveza
Honorary Master
I use less than 1K a month.
Jola
Honorary Master
After tax ?
daveza
Honorary Master
You are talking about fuel ?
I use less than 2 tanks a month so my company fuel benefit is less than 1 K.
Jola
Honorary Master
OK, never mind, this is OT.
Point is that it is difficult to live on less than 20k.
And doing it without Medical Aid, Insurance, Pension is just looking for long-term trouble.
Point is that it is difficult to live on less than 20k.
And doing it without Medical Aid, Insurance, Pension is just looking for long-term trouble.
daveza
Honorary Master
At my age it's short term trouble.
akescpt
Honorary Master
4x Annual Salary would be quite the emergency piggy...
I live on around R10k per month, but I don't pay for food.
in durbanville? that's impressive. you pay for accommodation, etc.? everything besides food that is.
I live with relatives at the moment. Pay for a room (R2000), but get free food.
akescpt
Honorary Master
ja 10k is easy then. add the other stuff and 10k wont be looking that nice.
I honestly do not know how some people do it. Was talking to a friend the other day about this very thing i.e. the middle class taking one hit after another and he basically admitted that he was technically already bankrupt, just a matter of time before its official.
He has borrowed about 5 times his monthly salary just to keep head above water and can now no longer keep up with the payments on those loans either. So he is essentially farked now.
He has borrowed about 5 times his monthly salary just to keep head above water and can now no longer keep up with the payments on those loans either. So he is essentially farked now.