Finance headache

[SwanseaJack]

Hi

Please help. Finance is no my strong point. Trying to work out monthly costs of a family of three in Adelaide with two cars and a mortgage/rent of approx $1300 pm. I have worked out $4800 pm. I know each family is different but this budget is based on essentials and about $450 for spends and extras.

 

Is this about right and what yearly salary would be needed to cover this?

 

Did say finance not my strong point.

 

Thank you kathy:confused:

[guspjmh]

I've worked out our spend should be at around $4200 per month, with a rental of $450 pw, including food and bills, but not leisure money. On this you'd need around $70kPA to break even.

 

THis is a useful link which works out tax on your pay and your take home wage:

 

​http://www.paycalculator.com.au/

[Blossom]

I would rethink your rent/mortgage price.

Depending on where you want to live, and what type of house, that is a little low (but not impossible) for rent. Mortgages tend to be much more than rent unless you have a huge deposit.

I pay $310 for an old, rundown three bed house. I'm not fussy though. If you are (not fussy, more particular) you would want to up your budget maybe.