What is the perfect salary to be happy?

[Thor]

You're a touch out of reality here. If the average South African salary is R15k(google*)then you are basically saying at least half of the working population are unhappy.

Sounds about right

 

[Thor]

Just under 600k at prime. Probably gets you a 1 bed apartment in an ok area...

Not in WC

 

[Lupus]

.... R1 500 on groceries?????? That won't even cover food let alone cleaning and personal hygiene products.

There are people in SA queuing for R350 a month, the nutrition a lot of people seem to survive on is astounding.

 

[Thor]

That is hardly a basic middle class existence jees...

What is considered middle class?

So we have some salary bands to say

LSM x is from Rxxx to Rxxx
Etc.

 

[Steamy Tom]

So my basic is around R15k. My salary fluctuates quite rapidly due to overtime, which is paid extremely well at my company. 9 months out of 12 I usually walk away with between R19k to R21k. But on the months I only walk away with my basic of R15k I can live pretty comfortably honestly. My rent is about R5200, power is about R300 a month, the internet is about R300 for a 1gb line fibre (shared with my landlord) food (I usually only cook for myself at night) may be about R1500 a month. Car payment with insurance and tracker + AA about R3600. Minus R2300 for medical aid, and thank God I drive a Polo Vivo because that vehicle gets me through the month on R500 no joke. Leave me with about R1300 just for myself with all my basic needs to survive and keep my standard of living fine. One can have a quality of life on R15k, and can have some fun. But I don't think it is a sustainable strategy. But if you are smart with your cash, your debt etc etc, you can get the ball rolling to start moving up.

what do you save or RA etc?

 

[Thor]

My bad, I didnt see that part 3 years ago
Yes prices are madness
Just 2 weeks ago a coupl arrived at our complex to come and look at a flat for sale for R1.1mill
I laughed and told them What?
Said the places here are maximum R800k if you are lucky
They left
I went back inside and out of curiosity went onto Property24 and had a look
R800k gets you almost nothing here in Somerset West, i checked other towns, same results
The property market has gone through the roof recently

Yea property pricing are whack.

Rental is absolutely killed and yet pricing are high AF


Especially Tygervalley side and then if you go closer to CPT it just gets rediculous.

Talking 1.8 bar for 24 sqm

 

[DreamKing]

ask zuma and anc.

 

[Creag]

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

Peppermints?

 

[RunningFromFat]

1 bag of groceries is like R500. That will last maybe 2 days.

Are you shopping at woolworths only? R500 could easily last a week if your meat is chicken or mince. You also don't need to buy dishwashing liquid/cereal etc every week.

 

[SAguy]

What the hell do you buy?

As a single guy I usually make do with around R1 000 on groceries: food, cleaning, personal care and everything else I buy from Pick n Pay or Checkers.

It depends on your lifestyle hey. Wife and I spend probably about R10k a month just for the two of us at Woolies for food. It's not like we're buying truffle grown in Megan Markle's anus either.

 

[SAguy]

Are you shopping at woolworths only? R500 could easily last a week if your meat is chicken or mince. You also don't need to buy dishwashing liquid/cereal etc every week.

A weekly woolworths trip for us is like R2k.

 

[Thor]

Are you shopping at woolworths only? R500 could easily last a week if your meat is chicken or mince. You also don't need to buy dishwashing liquid/cereal etc every week.

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.

 

[SaucePlz]

It depends on your lifestyle hey. Wife and I spend probably about R10k a month just for the two of us at Woolies for food. It's not like we're buying truffle grown in Megan Markle's anus either.

Little grocery luxuries (for me it's sauces - whole grain mustard and a variety of hot sauces) make the bill climb quite quickly.

 

[SAguy]

Little grocery luxuries (for me it's sauces - whole grain mustard and a variety of hot sauces) make the bill climb quite quickly.

Add in a couple of heat and eat meals from WW for those lazy nights and the bill skyrockets..
But I'd rather pay R400 for a "no cooking" night and eat WW prepared meals than eat takeaways.

 

[rietrot]

We are 2 and do R1000 a week groseries including meat cleaning products whatever, usually at checkers. We aren't price sensitive at all and just get luxury or better brands that we like including biltong as a daily snack.

And it is more than enough we usually have some food leftovers that gets old that we don't even eat.

I would think if you try and budget a single person can go below R1000 monthly for a healthyish diet.

 

[dusi]

Are you shopping at woolworths only? R500 could easily last a week if your meat is chicken or mince. You also don't need to buy dishwashing liquid/cereal etc every week.

How? A packet of chicken breasts is like R60, so times that by 7 days is R420.. unless you want to just eat chicken on it's own for a week, you'll need a little more than R500 a week for veggies, sauces and pasta, rice etc. I need to find out who your chicken guy is.

 

[ToxicBunny]

What is considered middle class?

So we have some salary bands to say

LSM x is from Rxxx to Rxxx
Etc.

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

 

[Pineapple Smurf]

Yea property pricing are whack.

Rental is absolutely killed and yet pricing are high AF


Especially Tygervalley side and then if you go closer to CPT it just gets rediculous.

Talking 1.8 bar for 24 sqm

Absolutely crazy everywhere, just for shits and giggles I randomly chose Sedgefield near Knysna to look at properties. It's also madness, the whole country has lost the plot.

 

[Erohann]

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

 

[Matt91]

People who say money can't buy you happiness are just buying the wrong things.