Sydney, are you earning enough to live here?

It's a scale, use the 50-30-20, or the super simple 80-20 rules.

80% after-tax income goes to Needs+Wants (food, rent, bills, porn subscriptions, netflix, crap from ebay, etc) and 20% goes into a savings account.

Or the more complicated, but still simple, 50-30-20 50% after-tax income goes to Needs (bills, rent, fuel, food), 30% Wants (eating-out, netflix, entertainment, fresh sneakers, etc) 20% into savings.

Napkin maths: $200,000 is somthing like $175,000 take home pa. That's $11,500 per month on expenses with the 80-20 rule. Obviously BS.

My rought estimate would be closer to something like $6000 per month for a family of 4. That's ~$75,000yr after-tax which is closer to a $100,000yr salary

/r/sydney Thread