Costs Of Living In Australia

Costs Of Living In Australia
One of the biggest worries for new arrivals into Australia is cost of living. How much will a person need? How much will a family need? These questions are usually at the forefront of every emigrant's mind before and after the move to Australia. Of course, emigrants from places like the United Kingdom and the United States come from countries of high expenses, sometimes more so than Australia, so high cost of living is simply part of life. However, for some emigrants, the cost of living in Australia may come as a shock at first, considering places like Sydney and Melbourne can be quite expensive.

However, how much a person needs to have upon arrival and how much a person needs to earn in Australia vary depending on the individual's situation. One of the biggest worries is how much a person or family needs to bring over when they first immigrate to Australia. Being realistic, people should come over with access to several thousand Australian dollars. However, where people decide to live and who they bring with them will certainly change this amount. For example, living in Sydney will require more foundational expenses than living in towns like Cairns, Port Headland or Darwin.

When new arrivals begin working, they can start to forget about the exchange rates, as earning Australian dollars and being taxed in Australian dollars will help settle the monetary complexities. Nevertheless, for people from the United Kingdom, things do start to seem more expensive in Australia, as everything is comparative to local currency, not the pound. Australia has high income tax, but arguably one of the best systems in the world, as residents get plenty of benefits for this. Don't be surprised when a huge chunk, usually more than 20 percent, is deducted from each paycheck.

Eating out will cost diners about $40 - $50 per head for a standard meal and beverages, while weekly shopping lists can add up to a few hundred dollars very easily. One of the most expensive aspects of life in Australia is accommodation. The cheapest rental in the largest cities will generally cost residents anywhere between $1,500 and $4,000 per month, depending on the location and size of residence. For example, a one-bedroom inner city condominium will be about $1,500 per month, while a three-bedroom inner city condo will cost about $2,600 for monthly rental.

It is generally agreed that residents of Australia should be earning a minimum of about $45,000 to get by without struggles. But again, this is largely dependent on the lifestyle individuals choose to lead. Of course, families on a double income, earning over $90,000, would earn enough to enjoy a high standard of living. But, there any many expenses for people to acknowledge, such as school, medical, utilities, food, and leisure.