Welcome to my summary post about living in Australia on the average weekly wage – so far. It represents an approximate lifestyle of a single person and it is a realistic cost of living admittedly a basic existence.
To recap: $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.
After the basic expenses of $715.96 per week there is only $232.70 left.
The remaining money will probably be spent on more food, entertainment and the rest saved for less regular items like clothing, toothpaste, shampoo, dish washing liquid and maybe even a holiday.
As you can see it’s not that much fun trying to survive on the average weekly wage is Australia. Sure there are alternatives such as living in shared accommodation or not having a car but there are problems with that as well or even seeking for higher paying jobs if you can find one.
If your are a couple you can you can easily halve the accommodation costs but you’ll need to double the basic food costs. If both work in different parts of town you’ll need to consider another car or alternate transport so may double the transportation part of your budget.