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Personal financial success can depend on sticking to an appropriate budget -- and selecting one is half the battle. Choosing an appropriate percentage of your income for living expenses depends on several factors, including your lifestyle and the cost of living in your location. Using your after-tax income provides the simplest means to establish a budget. You can start with a basic percentage guideline and modify your allocations according to your situation.

Housing
Budgeting for your housing expenses includes your rent or mortgage, utilities and other fees associated with managing your home. For example, your housing budget should include miscellaneous fees, such as monthly pet fees, if you rent. The total amount for housing should not exceed 30 percent of your after-tax income. If you earn $40,000 annually, then $1,000 per month is your limit. You can budget your housing costs further by setting a monthly spending goal for utilities and other payments. For example, you can set your housing payment to $700 per month and apply the remaining $300 to utilities, cable and other fees.
Other Expenses
Clothing, food, toiletries, loans and related expenses also consume a large portion of income and the percentage of income required depends on family size, lifestyle and other factors. Ideally, you should not spend more than 15 percent of your income or $500 per month on these items if you earn $40,000 per year.
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Transportation
Transportation plays a significant role in earning your income and covering this living expense is equally important. Your transportation costs should not exceed 15 percent of your after-tax income, or $500 per month for an annual after-tax income of $40,000. But, depending on your type of transportation, the monthly amount can get tricky or exceed 15 percent. For example, if you make a monthly car payment, your transportation budget becomes a fixed expense and added expenses, such as insurance, maintenance and gas, drive up the cost. If you use public transportation, you can better control the expense by purchasing discounted travel cards if your local authority offers them.
Remaining Income
You should allocate the remaining 40 percent of your income to a mixture of non-essential, but important living expenses, such as entertainment, dining out, savings and debt repayment. Allocating 10 percent of your income to each category further helps control monthly costs. For example, you could spend approximately $133 per month on restaurants, medical bills and movies. The remaining $133 can go into a long-term savings account for emergencies and other financial goals.



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What are you looking for?Cost of Living in AustraliaCrime in AustraliaClimate in AustraliaFood Prices in AustraliaGas Prices in AustraliaHealth Care in AustraliaPollution in AustraliaProperty Prices in AustraliaQuality of Life in AustraliaTaxi Fares in AustraliaTraffic in Australia





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Cost of Living in Australia



Select city in Australia: --- Select city---AdelaideAlbanyAlburyAlice SpringsArmidaleBallaratBendigoBrisbaneBunburyBundabergCairnsCanberraCarltonCoffs HarbourDarwinDee WhyDubboFrankstonGeelongGeraldtonGold CoastGosfordHobartIpswichKalgoorlieLauncestonMackayMelbourneMilduraNewcastleOakleigh EastOrange, NSWParramattaPerthRockhamptonSouth YarraSunshine CoastSurfers Paradise. Gold Coast. Queensland.SydneyToowoombaTownsvilleWagga WaggaWannerooWarragulWarrnamboolWollongong

Cost of living in Australia is 3.20% higher than in United States (aggregate data for all cities, rent is not taken into account). Rent in Australia is 13.90% lower than in United States (average data for all cities).

Do Restaurants[ Edit ]RangeMeal, Inexpensive Restaurant 20.00 A$15.00-25.00Meal for 2 People, Mid-range Restaurant, Three-course 80.00 A$60.00-120.00McMeal at McDonalds (or Equivalent Combo Meal) 12.00 A$10.00-13.05Domestic Beer (0.5 liter draught) 8.00 A$6.00-10.00Imported Beer (0.33 liter bottle) 8.00 A$7.00-10.00Cappuccino (regular) 4.39 A$4.00-5.00Coke/Pepsi (0.33 liter bottle) 3.29 A$2.00-4.00Water (0.33 liter bottle) 2.74 A$2.00-3.80

Markets[ Edit ]Milk (regular), (1 liter) 1.54 A$1.00-2.34Loaf of Fresh White Bread (500g) 2.69 A$1.45-4.00Rice (white), (1kg) 2.62 A$1.50-4.00Eggs (regular) (12) 4.29 A$3.25-6.00Local Cheese (1kg) 9.73 A$6.95-16.00Chicken Breasts (Boneless, Skinless), (1kg) 10.59 A$9.00-14.00Beef Round (1kg) (or Equivalent Back Leg Red Meat) 16.32 A$10.00-25.00Apples (1kg) 4.30 A$3.00-5.99Banana (1kg) 3.49 A$2.90-4.90Oranges (1kg) 3.84 A$2.50-5.00Tomato (1kg) 4.95 A$3.00-7.99Potato (1kg) 3.36 A$2.00-5.00Onion (1kg) 2.68 A$1.99-4.00Lettuce (1 head) 2.55 A$2.00-3.50Water (1.5 liter bottle) 2.24 A$0.95-4.00Bottle of Wine (Mid-Range) 15.00 A$12.00-20.00Domestic Beer (0.5 liter bottle) 5.14 A$3.00-8.00Imported Beer (0.33 liter bottle) 5.83 A$3.45-8.00Cigarettes 20 Pack (Marlboro) 30.00 A$25.00-38.00

Transportation[ Edit ]One-way Ticket (Local Transport) 4.20 A$3.00-5.00Monthly Pass (Regular Price) 150.00 A$99.00-200.00Taxi Start (Normal Tariff) 4.50 A$3.50-6.00Taxi 1km (Normal Tariff) 2.00 A$1.62-3.00Taxi 1hour Waiting (Normal Tariff) 49.20 A$34.20-60.00Gasoline (1 liter) 1.48 A$1.35-1.60Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 25,490.00 A$22,990.00-30,000.00Toyota Corolla 1.6l 97kW Comfort (Or Equivalent New Car) 24,291.96 A$20,000.00-30,000.00Utilities (Monthly)[

Edit ]Basic (Electricity, Heating, Cooling, Water, Garbage) for 85m2 Apartment 204.86 A$120.00-350.001 min. of

Mobile Tariff Local (No Discounts or Plans) 0.32 A$0.12-1.00Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 72.84 A$60.00-90.00

Sports And Leisure[ Edit ]Fitness Club, Monthly Fee for 1 Adult 64.79 A$40.00-100.00Tennis Court Rent (1 Hour on Weekend) 20.52 A$10.00-35.00Cinema, International Release, 1 Seat 18.00 A$15.00-21.00

Childcare[ Edit ]Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 1,796.08 A$800.00-2,600.00International Primary School, Yearly for 1 Child 17,297.62 A$10,000.00-30,000.00Clothing And Shoes[ Edit ]1 Pair of Jeans (Levis 501 Or Similar) 96.35 A$60.00-120.001 Summer Dress in a Chain Store (Zara, H&M, ...) 58.32 A$30.00-90.001 Pair of Nike Running Shoes (Mid-Range) 131.05 A$90.00-180.001 Pair of Men Leather Business Shoes 136.34 A$90.00-200.00Rent Per Month[ Edit

]Apartment (1 bedroom) in City Centre 1,677.18 A$1,100.00-2,500.00Apartment (1 bedroom) Outside of Centre 1,277.43 A$800.00-1,800.00Apartment (3 bedrooms) in City Centre 2,723.27 A$1,600.00-4,000.00Apartment (3 bedrooms) Outside of Centre 1,909.56 A$1,205.00-2,900.00Buy Apartment Price[ Edit ]Price per Square Meter to Buy Apartment in City Centre 7,730.47 A$4,000.00-14,000.00Price per Square Meter to Buy Apartment Outside of Centre 5,406.06 A$2,580.00-9,000.00Salaries And Financing[ Edit ]Average Monthly Net Salary (After Tax) 4,449.26 A$Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 4.173.50-5.00

Prices in Australia

These data are based on 22350 entries in the past 18 months from 2763 different contributors.
Last update: January 2020
Our data for each country are based on all entries from all cities in that country.




Sources and References: Info

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Distribution of expenses using our statistical modelTransportationClothing And ShoesSports And LeisureMarketsUtilities (Monthly)Rent Per MonthRestaurants10.5%13.6%30.3%32%

CategoryAmount in USDTransportation455.49Clothing And Shoes101.89Sports And Leisure219.74Markets1,383.34Utilities (Monthly)262.56Rent Per Month1,308.32Restaurants589.08

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