Help me work out costs please!

[guspjmh]

I have just received a positive skills assessment from VETASSESS and have sent off my state sponsorship. I am hoping to emigrate by the end of the year, and have been advised I would earn somewhere in the region of $70-$80k and my car will be included. I have a 2 year old boy and a 6 month old girl and my wife would like to stay at home with them initially.

 

Would I be correct in saying that we would qualify for family assistance immediately upon moving to adelaide (we are applying for a permanent visa)? Also, I have checked out the groceries etc online and they do seem more expensive, although not as much as I had dreaded! If I were to pay rent somewhere in the region of $400 per week, what could I expect my additional bills to be, and would my wage be sufficient to support us?

 

We would have a reasonable amount of capital, but I'd like to keep as much in £'s as possible until the exchange rate looks more favourable, and then use it towards a house. Is my plan realistic, or would my wage just not be enough for what I am hoping to do?

 

Any help or advice would be hugely appreciated!

 

Gus.

[Guest ebstar]

Hi there. Yes that wage will be fine. We moved over 7 months ago (2 adults,3 children)and were initialy on a single income of about $50pa.On a permenant visa the family/rent benefit is approx $700 per fortnight (this is based on three children,$50pa and rent of $380pw)Food shopping $250ish per week,Water $100ish per qauter,Gas and elec are both around $250-$300 each per qauter. In addition we have secondary fees $400pa and primary $290pa.After that theres your various car rego etc that vary.This far in a a single wage we have had no probs.We don't go out loads but have done several wildlife park/zoo/cinema trips etc and also had lots of family staying so the extra cost there. On the salary you are looking at you should be fine.Hope that helps. Deb

[Andrew from Vista Financial]

Hey Gus,

 

check out this thread http://www.pomsinadelaide.com/forum/money-finance/25074-budget-spreadsheet.html

[guspjmh]

Thanks, that spreadsheet is really useful. I reckon I would spend a bit less, as I'd have one car paid for. It looks like $70k should be a more than adequate wage along with the family benefits we'd receive.

 

Just what I wanted to see!

 

 

Gus.

[Elliot]

Gus,

 

Just check whether or not the Australian tax man will want to tax you on your 'gamble' in exchange rates becoming more favourable.

i have heard/read somewhere that if you where to wait until the rate improved and you got let's say $20k more then the tax man will want to include that money in your tax return.

Not sure how true this is but it might be worth checking.

[Guest leeannekays]

Hi ebstar, I am looking forsome advice on the money side of when we first arrive. We were suppose to be coming with a comfortable amount of money, however our house sale fell through last week so the house will not be sold before we fly in 2 weeks. How much money do you think we will need when we first arrive to get us through the first few weeks?

Any advice is really welcome as I am feeling worried

Leeanne