What is the perfect salary to be happy?

[notayoba]

Does nobody buy clothes anymore?
Go to gym?
Service their vehicles?
Have the inevitable bit of debt to service?
Great lack of savings/RA's unless it just didn't sink in inbetween all the other opinions I've been reading.

The "itemised" list of expenses feels out of line with what I expected to find? I say this knowing I don't know how to manage my money well, but I would assume:

• Accomodation (rent or bond)
• Accomodation: Levy: The above can include that as well as rates and taxes
• Accomodation: Utilities: Water and Lights, heck even gas? The above can include that as well
• Accomodation: Insurance
  
  
• Vehicle: Repayment
• Vehicle: Servicing
• Vehicle: Insurance
• Vehicle: Running costs, from fuel to rubber?
  
  
• Food: Groceries
• Food: Do you ever do takeout?
  
  
• Household: Cleaning stuff
• Household: Do you ever need new linen, replace an appliance, furniture
• Household: Does everyone clean their own homes? No domestic worker?
• Household: Internet
  
  
• Personal: Hygiene
• Personal: Clothes
• Personal: Life insurance?
• Personal: RA?
• Personal: Rainy day fund?
• Personal: Medical aid
• Personal: Cellphone/Subscriptions
• Personal: Gym or something of the sort?
  
  
• Unsecured debt: Be that CC, overdraft, personal loan, clothing accounts, a lot of people have these to service monthly?
• Debt: Interest... sometimes this can just be a running expense with no end in sight?
  
  
• Kids? .... I can't even begin to imagine what this might all ad up to, its not just school, or clothes, or medical expenses but to get them stimulating exposure, be that gymnastics or music lessons, PLEASE don't put them in front of a screen all day
• Other family to support?...
• Holiday is obvisouly not a thing? nor is gifts or wasteful spending?

I'm sure the list can be changed a lot on a per household basis and requirements. You can live off of 15K net, but I hope you don't have student loans? or hopes and ambissions of being a homeowner and having kids and putting money away for retirement and sending your kid off to Uni... unless you have a plan to increase your earning potential or you have a partner that can contribute enough to the budget as well

Agreed. A lot of the posters simply ignore reality and leave a lot of these items out.

Some quick calculations for what I would reckon is very low amounts for someone starting out in the western cape, not living in digs. No Kids, No Holidays, No Hobbies, No eating out, No entertainment. No one to support. Comes to about 36000 after tax. Only luxury would be takaway once per week or so.

Add some hobbies, entertainment, kids, and a wife. and it skyrockets.
Some amounts might be in dispute, but overall can't be too far out.

With a 50K salary, you'll only clear about 37. So that leave you 1K to play with.

 

[rh1]

R2.4 million p.a is where I'm at. At my age, this will be the only way I get to try out the toys that I always wanted without sacrificing a nicer lifestyle.

 

[RedViking]

In this country if we were to assume an average inflation rate of 6% since 2011, then according to the "official" LSMs levels from 2012 LSM 6 and upwards would be classed as "middle class"

LSM 6 - R11321 per month average household income
LSM 7 - R18365 per month average household income
LSM 8 - R25096 per month average household income
LSM 9 - R35197 per month average household income
LSM 10 - R52815 per month average household income

Hectic.

We are screwed.

 

[RedViking]

I'll take my holidays above kids. Thank you.

 

[thestaggy]

Sell the car. One can survive without a car in 2021 quite easily. Just takes a lot of effort to adjust.

Renew your warranties. Read your car insurance and make sure you are covered for anything. Know it better than them for when they try to pull their ****ery.

Vet bills are a hard one, I know. I've got a little kitty that's just made 1 year now, and I tell you what, shots and getting her fixed was not the cheapest experience in the world. Thankfully I didn't have any issue affording such things, but I am looking into pet insurances at the moment.

I know I fall back a lot on insurances etc etc but if you know what you're doing, you know how to read between the lines and know their policies like you work for them, you can give yourself a lot of peace of mind from finances knowing not that they will pay - but HAVE to pay.

Lots of jobs stipulate own car. Some people absolutely rely on their car for work; sales reps, ops managers, field technicians. I myself need a car because I often have to leave the office to visit sites and there is no such thing as a pool/company car here.

I personally think that not having a rainy day fund and not puttng stuff away for retirement age is a recipe for disaster.

 

[Polymathic]

I see a lot of unhappy people trying to justify why they would need more money.

 

[YoungSandwich]

Lots of jobs stipulate own car. Some people absolutely rely on their car for work; sales reps, ops managers, field technicians. I myself need a car because I often have to leave the office to visit sites and there is no such thing as a pool/company car here.

I personally think that not having a rainy day fund and not puttng stuff away for retirement age is a recipe for disaster.

100% of jobs do. Although my job doesn't. As long as I'm at my desk at 7 they really don't give a ****.
I'm very lucky to have such a laid-back employer.

Oh, 100% I put away for retirement, that's a whole different story. I have a company pension fund that takes off every month. Also looking at different retirement funds at the moment through my dad's broker. Pension is really important, the last thing you want is to spend your twilight years broke AF and a burden to someone else. I've seen that **** happen too much to my family.

 

[Dolby]

When Cyril makes it level 4 in the summer you better warn the next guy so he doesn't end up with triplets.

Jokes aside, twins are rough. Hope it goes well dude

hehe - thanks !

Touch wood, not nearly as bad as I was told .

They sleep through the night and they don't cry much at all. I had one for a new nights on my own a few weeks ago (mom was with the other in hospital) - and half the time I didn't even know there was a baby in the house The 3rd kid (2 years) is going through that terrible twos which is a nightmare

 

[Lupus]

hehe - thanks !

Touch wood, not nearly as bad as I was told .

They sleep through the night and they don't cry much at all. I had one for a new nights on my own a few weeks ago (mom was with the other in hospital) - and half the time I didn't even know there was a baby in the house The 3rd kid (2 years) is going through that terrible twos which is a nightmare

Could your 2 year old be acting terrible cause there are 2 other kids taking mommy and daddy's attention?

 

[Dolby]

Could your 2 year old be acting terrible cause there are 2 other kids taking mommy and daddy's attention?

That's one part - but I suspect it's mainly got to do with that terrible age.

 

[Lupus]

That's one part - but I suspect it's mainly got to do with that terrible age.

Remember at 2 they still cannot really verbalise what they are feeling and it must be really frustrating, add on top of that 2 new additions to the family that they aren't sure of themselves yet. So I'd not really point to them being terrible, just terribly misunderstood, give them plenty of cuddles. You'll miss them being that small.

 

[CruelBreeze]

I don't think R500 a week can get you a balanced 3000 calories meal(s) a day.

So probably malnourished on R500 a week.

Which means you'll need additional medical aid for later.

3000 calories a day is certainly overnourished.

 

[airborne]

I would say 15 000 for a single person and 25 000 for a couple.

Is that when still living with your parent's, rent and board free, still driving your mom's Corolla, only putting petrol in and she pays for maintenance??

R15k after tax in any major Sa city will barely cover basic expenses.

 

[RedViking]

Is that when still living with your parent's, rent and board free, still driving your mom's Corolla, only putting petrol in and she pays for maintenance??

R15k after tax in any major Sa city will barely cover basic expenses.

Your mom gives it to me rent free.


Don't stay in a major city.

 

[HunterNW]

Is that when still living with your parent's, rent and board free, still driving your mom's Corolla, only putting petrol in and she pays for maintenance??

R15k after tax in any major Sa city will barely cover basic expenses.

My SO got that before we moved in together. She supported herself and 2 kids in school with that salary.

 

[Aghori]

My SO got that before we moved in together. She supported herself and 2 kids in school with that salary.

Ja hey when times are tough we have to improvise. Women are especially good at this for some reason.

I made do with 9k for many years while studying at Unisa and working full time... I was happier then too now that I think about it.

 

[HunterNW]

Ja hey when times are tough we have to improvise. Women are especially good at this for some reason.

I made do with 9k for many years while studying at Unisa and working full time... I was happier then too now that I think about it.

We adapt. You live according to the money in your pocket.
Before going back to the mining industry i was paid R5K a month.

 

[Chunk20]

Not having to earn a salary would make me far happier than any salary.

If you have to earn a salary to be happy you have already lost.

 

[Mike Hoxbig]

hehe - thanks !

Touch wood, not nearly as bad as I was told .

They sleep through the night and they don't cry much at all. I had one for a new nights on my own a few weeks ago (mom was with the other in hospital) - and half the time I didn't even know there was a baby in the house The 3rd kid (2 years) is going through that terrible twos which is a nightmare

The first few weeks is always awesome. Give it a few more weeks...

 

[maumau]

That Lambo is in my brother in law's garage. The driver and the owner did not look happy at the time this photo was taken.

OMW so the driver isn't the owner.