Author Topic: How a Sydney mum spends her 700k income  (Read 1715 times)

techjunkie91

  • 5 O'Clock Shadow
  • *
  • Posts: 3
How a Sydney mum spends her 700k income
« on: August 08, 2018, 08:38:34 PM »
https://www.news.com.au/lifestyle/real-life/true-stories/cash-confessions-how-a-sydney-mum-spends-her-income/news-story/56cdbd4fabfbdd9cc96953798f60097b

Did the EarlyRetirement calculator, If they could live on 100k after tax, which here in Aus is alot, they could be FIRE is 3.8 years.

RWD

  • Handlebar Stache
  • *****
  • Posts: 2160
  • Location: Mississippi
Re: How a Sydney mum spends her 700k income
« Reply #1 on: August 08, 2018, 09:49:14 PM »
How the heck is she spending $10k/month on just "living expenses". Split that category up and identify the money leaks! The rest of her sixteen non-mortgage categories don't even amount to a third of that one single category.

At least the mortgages are building up equity...

onlykelsey

  • Handlebar Stache
  • *****
  • Posts: 1886
Re: How a Sydney mum spends her 700k income
« Reply #2 on: August 09, 2018, 08:01:30 AM »
How the heck is she spending $10k/month on just "living expenses". Split that category up and identify the money leaks! The rest of her sixteen non-mortgage categories don't even amount to a third of that one single category.

Sometimes I see similar write ups of budgets for NYC/London/HK bankers, lawyers, etc and wonder if an expensive illicit item should be a sub-category.

I'm emotionally preparing myself to get back to budgeting (I have literally no idea what I've spent in the last 18 months) but at least I'm not this bad...

patchyfacialhair

  • Pencil Stache
  • ****
  • Posts: 789
Re: How a Sydney mum spends her 700k income
« Reply #3 on: August 09, 2018, 09:18:17 AM »
She must have insane connections. 700k for each 90 minute session at $1500 a session is 466 sessions per year. Assuming 240 work days (48 weeks, 5 days per weeks), that's 2 sessions a day every work day.

Craziness...

honeybbq

  • Pencil Stache
  • ****
  • Posts: 997
  • Location: Seattle
Re: How a Sydney mum spends her 700k income
« Reply #4 on: August 09, 2018, 10:20:04 AM »
I didn't understand what the second house was for???

magnet18

  • 5 O'Clock Shadow
  • *
  • Posts: 40
Re: How a Sydney mum spends her 700k income
« Reply #5 on: August 09, 2018, 11:03:36 AM »
Cracks me up that they have Netflix on there


Mortgage 1, $5000
Mortgage 2, $4000
Misc living expenses, $10000
Netflix, $20

"See I'm just like everyone else!"

rbuck

  • 5 O'Clock Shadow
  • *
  • Posts: 73
Re: How a Sydney mum spends her 700k income
« Reply #6 on: August 09, 2018, 11:09:27 AM »
Cracks me up that they have Netflix on there


Mortgage 1, $5000
Mortgage 2, $4000
Misc living expenses, $10000
Netflix, $20

"See I'm just like everyone else!"

Call me crazy but I for one think she might have been able to include Netflix in with her $10,000 living expenses category.

FIRE@50

  • Bristles
  • ***
  • Posts: 278
  • Age: 40
  • Location: Maryland
Re: How a Sydney mum spends her 700k income
« Reply #7 on: August 09, 2018, 11:19:03 AM »
That is funny

Tinker

  • 5 O'Clock Shadow
  • *
  • Posts: 9
Re: How a Sydney mum spends her 700k income
« Reply #8 on: August 12, 2018, 07:22:00 AM »
Cracks me up that they have Netflix on there


Mortgage 1, $5000
Mortgage 2, $4000
Misc living expenses, $10000
Netflix, $20

"See I'm just like everyone else!"

Call me crazy but I for one think she might have been able to include Netflix in with her $10,000 living expenses category.
Nah, spending more than 10000 on living expenses would have made her look bad.

CrustyBadger

  • Bristles
  • ***
  • Posts: 432
Re: How a Sydney mum spends her 700k income
« Reply #9 on: August 12, 2018, 07:34:28 AM »
How the heck is she spending $10k/month on just "living expenses". Split that category up and identify the money leaks! The rest of her sixteen non-mortgage categories don't even amount to a third of that one single category.

At least the mortgages are building up equity...

She says that includes "school fees" -- would that be private school tuition?

talltexan

  • Handlebar Stache
  • *****
  • Posts: 1647
Re: How a Sydney mum spends her 700k income
« Reply #10 on: August 13, 2018, 09:57:58 AM »
Could that possibly be an understanding with a spouse: "We'll make sure $10K gets into this account each month, and that can go for all the stuff you're doing to manage kids, food, pets, etc."?