Australian weekly wage budget example

Welcome to Part 2 of my Australian weekly wage series. Using the basic wage and household income from the ABS I present a rough budget. However remember that these figures vary dependent on where you live and all the factors that entails. The stats are for the average working Australian.

$60559.20 or $1164.60 per week.
Apply the tax rate $3,572 plus 32.5c for each $1 over $37,000 = $7656.74
Take home pay of $49330.46 or $948.66 per week.

The basic weekly bills:

Rent: $500 including power/water.
or Mortgage will be much higher.
Internet: $15 ($60 monthly)
Mobile phone:  $17.50 ($70 monthly)
Car Loan: $100 ($400 monthly)
Maintenance/Rego: $38.46 ( $2000 per year)
Motor Insurance: $10  ($800 per year)
Health insurance: $12.50 ($50 monthly)
Petrol: $50 per week if you have a car.
Food: $100 per week.
Entertainment: $60 ($12 a day)

500+15+17.5+38.46+10+50+100 = $715.96 per week.

Of course there are plenty of scenarios for your weekly budget but I feel this would be the basics for a single person. You will probably spend more since you are working.

The car costs are the killer factor but you would still need to add some sort of alternative transportation cost to your budget. Of note budgeting for health insurance is optional as well  and the entertainment allocation is conservative. Finally a cup of coffee in Australia generally costs around $4 a cup.

Can you live without a car or motorcycle in Australia? The answer is generally no unless you live and work in the city it’s self. Else you will ned a car or access to a car of some sort.