commitments & percentage of your income

[V8falcons]

gday

Im just interested in what the average joes weekly commitments are as a percentage of there total income,i dont mean the grocery bill or bills in general,I mean things such as loan reapyments/mortgage/rent/lease payments but only as a percentage of income as i dont want to get too personal about it.'
Im just gauging my finanicial postion,as some weeks you strugle other weeks are fine but it seems every one I talk to is in the same boat.

To start off i have a home loan only(nothing else to pay off) and its about 46% of our total income.thats our standard income not including overtime,or the wifes income as she's back off to work.

whats yours?

PS.Sorry if any one thinks this is too personal

[dansedgli]

Im committed to about 15 - 20% of my income. I get paid monthly, the hardest part is trying not to buy expensive things in the first week or Ill be broke for 3. :

[AU2PWR]

i earn $540 a week

$200 Petrol a week ...
$100 Board
$100 Clothing and Food
Anything left goes to Savings

[MO]

Take a look at the ABS site it will tell you.

[V8falcons]

Originally Posted by MO

Take a look at the ABS site it will tell you.

Good idea .thank you

[dansedgli]

Originally Posted by AU2PWR

i earn $540 a week

$200 Petrol a week ...
$100 Board
$100 Clothing and Food
Anything left goes to Savings

Thats a lot of cash wasted on petrol!

[MITCHAY]

I earn about $450-500pw. Roughly I spend about:

$50 petrol
$50 smokes
$20-100 booze

Really depends. I just have to make sure I have about $4k for car expenses. I don't have a loan to pay because I bought my car with cash. I don't pay rent or household bills either.

[V8falcons]

thank you so far fellas,just so you know its a less personal form to list your commitments as percentages of your wage.and it give a easier average.

The reason i asked this ,is we are 3/4 way building our new home and now doing the extras/furniture/accessories/air con ,
pergola, shed, gardens, fences, landscaping and find the $$$$$$ go very quickly these days.
But I dont know if Im alone in the big financial rollercoaster

[MO]

You are not alone and it runs out sooner rather than later...been there still doing that.

[gtfpv]

Originally Posted by vctxr6ute

thank you so far fellas,just so you know its a less personal form to list your commitments as percentages of your wage.and it give a easier average.

The reason i asked this ,is we are 3/4 way building our new home and now doing the extras/furniture/accessories/air con ,
pergola, shed, gardens, fences, landscaping and find the $$$$$$ go very quickly these days.
But I dont know if Im alone in the big financial rollercoaster

been there done that and still going .
groceries $300/wk
mort $460 by choice
bills $200
petrol/lpg $100
holidays $100
me $200 ( inc , takeaways , entertainment ,medicines, odds, ends)
wife $ 80 **** knows what.
wife $ unexpected withdrawels anywhere from 20 to 400 bucks . ( laybuys botx injections wonderbras and charities. and what ever else she ****en thinks of .
ohhh did i mention we have just dropped down to one income . :

[brenx]

Originally Posted by vctxr6ute

thank you so far fellas,just so you know its a less personal form to list your commitments as percentages of your wage.and it give a easier average.

The reason i asked this ,is we are 3/4 way building our new home and now doing the extras/furniture/accessories/air con ,
pergola, shed, gardens, fences, landscaping and find the $$$$$$ go very quickly these days.
But I dont know if Im alone in the big financial rollercoaster

You aint alone.

I've never added it up but I'd say my mrs and I would be in the 80-90% mark. We've got a personal loan due to be paid out next year I think. Then that'll drop by around 10%. Then the next loan will be due out 3 years later and that'll drop us by another 10-15%.

External debt and children (not mortage) is what kills your $.

I spend $150-200 per fortnight on fuel. I don't go visiting if possible. My biggest killer is we do heaps of k's for work. We kill cars quickly by clocking up heaps of k's. We usually replace a car every 5 years. Which means we always have a car loan of some form. The reason we keep replacing them as it's generally cheaper than taking time off work to have them fixed. Trade them when there are starting to have mechanical failures etc.

[MO]

Originally Posted by dansedgli

Thats a lot of cash wasted on petrol!

Depends on how far you have to drive for work.

[pecker73]

Holy Crap... Now that I have stopped and looked at it, maybe I have dug a deep hole :

All car costs (lease, maint, fuel) come out pre-tax. The bank(s) get 64% of what's left, mortage x 3. No other debts, I can't afford it ! :

[Pinkbits]

Originally Posted by dansedgli

Thats a lot of cash wasted on petrol!

Have you seen him drive?

[jason71]

Home loan = 34%

Car loan = 5% (soon to be paid off)

Food = 13%

Other bills eg. phone, elect, water, etc = 20%

That's on one income, hopefully my wife gets back into the workforce after our second child is born.

PS. When we were both working and had no kids we were paying doubling our home loan payments. Lol the price you pay for having children, but it's worth it.

[Kryton]

i lose 40% of my pay before i even get it.
after i do get it i usually have a few hundred left once things have been paid.

[Casper]

My home loan is less than 35% of my monthly wage. No other loans, not including better halfs income.

[AU2PWR]

meh , i drive in Traffic , and Impatiently

[Racecraft]

Mortgage = 40%
that is the only real expense each week but I consider the following as necessities too

Fixed Bills- Foxtel, BigPuddle, Mobile, saving for Rates, power and gas etc = 5%
Food and Fuel = 10%

I can still save some coin a week but like you vctxr6ute, I have grandiose plans for the house, new deck, a spa/pool, an outdoor entertaining area, re-do the driveway and landscaping, then onto the inside, so the tokens don't seem to go very far.

[RPO83]

Originally Posted by Racecraft

Mortgage = 40%
that is the only real expense each week but I consider the following as necessities too

Fixed Bills- Foxtel, BigPuddle, Mobile, saving for Rates, power and gas etc = 5%
Food and Fuel = 10%

I can still save some coin a week but like you vctxr6ute, I have grandiose plans for the house, new deck, a spa/pool, an outdoor entertaining area, re-do the driveway and landscaping, then onto the inside, so the tokens don't seem to go very far.

Level 5 water restrictions in Brisbane is going to make the whole pool/spa idea fun!

[Feathers]

I know $100 a week goes to Dad for the money he lent me to buy the XR, $70 goes to my mum so she can sit on her *** and not do anything. (The house is a mess, the washing sits out the back for weeks,a nd lets not even mention what she passes off as food every night...).
Actually I think she uses it to go to bingo, and down the club for the meat raffles and to play the pokies.
~$20 food while at work
Then ~$70 every 3 weeks on petrol.
$90 on phone + internet.
(monthly)
~$20 for game fee

Not bad. But then I do live at home.

[MITCHAY]

Originally Posted by Feathers

I know $100 a week goes to Dad for the money he lent me to buy the XR, $70 goes to my mum so she can sit on her *** and not do anything. (The house is a mess, the washing sits out the back for weeks,a nd lets not even mention what she passes off as food every night...).
Actually I think she uses it to go to bingo, and down the club for the meat raffles and to play the pokies.
~$20 food while at work
Then ~$70 every 3 weeks on petrol.
$90 on phone + internet.
(monthly)
~$20 for game fee

Not bad. But then I do live at home.

Living at home is where its at. You get to have a nice car, go out, and still save money : I can't move out till my brother does as there is no way in hell my mum would cope with him by herself. So looks like I'm here for about 5-10yrs more.

[TEaaron]

I get $291 net pay a week, Go go apprentice wadges woooo


$50 goes to lunch during the week
$241 goes to random ****.

[HLC]

i earn anywhere between $150 - 400 pw (i have 3 jobs. 2 are fixed shifts totalling 150- and one is at maccas, and depends if i tell them i can work or not/what shifts they give me)

$80 per week petrol.

the rest is saved towards car expenses. about 4 months of that. then i save for personal items/concert tickets.

[[Tonko]]

Between fuel, grog, smokes, and bills, lately about 110% of what i earn a week, every bill comes at once....grrrrrr!

[Powdered Toast Man]

My car loan is 25% + 10% on fuel
My rent is only 10% but I have very low rent and a housemate. I know the landlord and the house is old and delapidated.
I put away 15% into a savings account which will go towards my car and when thats paid off it will go towards my Hecs.
The rest goes on food and bills and i make a comfortable wage. I dont come out with much left over lately. Dunno where it all goes.

[gtfpv]

i know it is very costly but my advice to young people is to grow up and get out , learn to be self sufficiant . as all the past generations did before you . my parants and grandparents generation were all out between 16 and 18 years old , some travelling overseas for work . my generation most were out by 22. dont become a hoarder , many people are at home at 30 with no savings. what a wasted life . seriously if you are 22 you need to be thinking about not living at home and getting out by 25 at the latest . sorry for taking this thread of topic . but i strongly feel it needed to be said .

[MITCHAY]

Originally Posted by gtfpv

i know it is very costly but my advice to young people is to grow up and get out , learn to be self sufficiant . as all the past generations did before you . my parants and grandparents generation were all out between 16 and 18 years old , some travelling overseas for work . my generation most were out by 22. dont become a hoarder , many people are at home at 30 with no savings. what a wasted life . seriously if you are 22 you need to be thinking about not living at home and getting out by 25 at the latest . sorry for taking this thread of topic . but i strongly feel it needed to be said .

I will be out soon as possible but while my brother is at home no way. So in the meantime I bought a nice car

[chich]

Originally Posted by gtfpv

i know it is very costly but my advice to young people is to grow up and get out , learn to be self sufficiant . as all the past generations did before you . my parants and grandparents generation were all out between 16 and 18 years old , some travelling overseas for work . my generation most were out by 22. dont become a hoarder , many people are at home at 30 with no savings. what a wasted life . seriously if you are 22 you need to be thinking about not living at home and getting out by 25 at the latest . sorry for taking this thread of topic . but i strongly feel it needed to be said .

Bah.. being self sufficient is over rated. Being of European decent, I'm still living at home at the age of 25 and plan to keep it that way until the girlfriend runs out of patience with me. As for board, whats that?? :hihi:

Having said that though i understand where you're coming from regarding those who remain at home at age 30 with nothing to their name. Personally i'd love to move in with the girlfriend to test ourselves out before taking the next step, but the reality is staying at home give us both the opportunity to put some decent cash aside and put ourselves on the front foot from the get-go.

[gtfpv]

Originally Posted by chich

Bah.. being self sufficient is over rated. Being of European decent, I'm still living at home at the age of 25 and plan to keep it that way until the girlfriend runs out of patience with me. As for board, whats that?? :hihi:

Having said that though i understand where you're coming from regarding those who remain at home at age 30 with nothing to their name. Personally i'd love to move in with the girlfriend to test ourselves out before taking the next step, but the reality is staying at home give us both the opportunity to put some decent cash aside and put ourselves on the front foot from the get-go.

mate each to there own . but as i said earlier, i thought of all these things at 16 . i was out at 19, a tadesman at 20 and married at 24 , with 50g's all saved . had 1st child at 29 and fully owned home at 30. and this was the norm . and i am only 38 now . you see times are changing . you cant do it the same way now. but you still should have started a plan in your teens. my poarents generation ( european ) were traveling across the world for a job at 18 . some of them all over the world including australians were being kicked out at 15 to make there own way. i really feel sorry for 30 year old children . it aint right. being an adult and standing on your 2 feet is everything !!!!
my dad couldn't send me to my room at 19 . youurs can as long as you live there . sereiously guys life is too short. before you know it your old so start young . i still know women in mid 30s who haven't had a child yet, and women at 40 who have left it too late and cannot. by the way my nan was a granmother at 40. we dont live till 135 . by 35 your 1/2 way over .