Yeah, vanishingly few people use wage increases, promotions etc to make their current life easier. Almost everyone simply continue having a very hard time but now paying an audi off rather than a kia or whatever.Yup. I recently got an increase as I changed jobs. I was very cognisant of life-style creep. Will admit the temptation was there to have a better car, better place to live, etc. But I'd rather not be worse off after getting a better job. But I guess not everyone thinks like that.
Yup. after tax her income is approx $14k/month. Certainly no wiggle room, unless shes living on 1min noodles, lol.
Yeah, vanishingly few people use wage increases, promotions etc to make their current life easier. Almost everyone simply continue having a very hard time but now paying an audi off rather than a kia or whatever.
At the end of the day, it's simple effort/sacrifice vs reward. My brother just turned a promotion down because of the very simple fact that it was 15% more money for about 40% more work. He knew what doing so meant for him/his family.That's very true. I understand wanting to spend money and have nicer things but I think people take it too far. There's a myriad of reasons, but obviously looking good to friends is one of them. Probably the same reason they don't want to downsize the house, don't want the 'friends' to think you're having a hard time because you can't pay the mortgage of a 2.6mil house. I mean.....how scandalous.
I admittedly spent my undergraduate years poor AF and working multiple jobs. I have no interest in returning to days of worrying so much about finances, particularly if its self-imposed like this situation.
But to bring it back to the article, as it's been mentioned they won't be the only one. Will this be one of the sparks to set it off? Who knows. But its probably indicative of a larger portion of people--even in the upper echelons.
that depends on the ( Noosa ) house , i used to work with an architect student who went on to designing some very interesting ( and expensive ) houses on the QLD North Coast , what doesn't attract you might a 'must-have ' feature for others ( i am very negative on pools but they can be a key feature for other buyers , those bloody hot tubs seem to be another deal-clincher for some )no sure if due to Noosa proximity, but a house : nice but just on 10 steep acres today appeared on the market and offered at 3.6m, with my wife thinking they must have done a typo..so basically, for local and informed of the market people, we are not sure if a house is valued at 2.xx or 3.xx..that's a bloody big amount to save or borrow, even when earning a bit of coins...
my view just below 3m, my wife below 2m...will keep you posted.Had agents looking at our place this past week
Women are far more materialistic than men though. Once you get to a certain point with (a lot of) men, the money is nothing other than keeping score with other men.The 260k p/a woman kinda reminded me of some of my readings of the Stoics:
"If you live in harmony with nature you will never be poor; if you live according what others think, you will never be rich." .... Lucius Annaeus Seneca
Our friend Seneca had many other thoughts along these lines too.
At various times I've been in every marginal tax bracket from below the threshold to the highest rate.. My brother just turned a promotion down because of the very simple fact that it was 15% more money for about 40% more work. He knew what doing so meant for him/his family.
Yeah, and then you torpedo your economy.FWIW I note that, using NAB's online calculator, a 3% rise in interest rates adds just under 41% to monthly repayments on a 30 year loan.
That there is the elephant in the room in my view.
Inflation is rising that's a fact.
Will there be a forced increase in interest rates? If so well that's where the real pain starts I expect.
Incoming torpedo?Yeah, and then you torpedo your economy.
It's almost as if there's only so long you can kick a can down the road for.
Back in the days a 30k first buyer grant would fix things right up, add another 0 now sir, sink more bad tax dollars into the black holeIf you are in your 60's, you have seen enough booms and busts, to realise this is shaping up to be a big one IMO.
It will be quite interesting IMO to see how it unfolds, especially in Melbourne /Sydney massive mortgages dependent on massive wages and low interest rates, that sounds as though the elastic band is stretched about as far as it will go.
Well there is nothing better in a time of massive change, which we definitely are entering into, than a scared and money hungry workforce. As @ humid has said on numerous occasions there is great money in FIFO work, but not many are interested, well if this transition to renewables is going to cause a huge amount of work in the outback, we will need a huge amount of workers to make it happen in a relative short period of time.Back in the days a 30k first buyer grant would fix things right up, add another 0 now sir, sink more bad tax dollars into the black hole
Well there is nothing better in a time of massive change, which we definitely are entering into, than a scared and money hungry workforce. As @ humid has said on numerous occasions there is great money in FIFO work, but not many are interested, well if this transition to renewables is going to cause a huge amount of work in the outback, we will need a huge amount of workers to make it happen in a relative short period of time.
Let's see what happens, when it becomes the money, or the house. ? Try explaining to the missus, but honey I won't be home all the time, can't we just downsize and tighten the belt, maybe you get a second job instead?
Interesting times coming, if you read in the future of generation and storage thread, over in general chat, the amount of remote work is going to be incredible.More economically viable to downgrade the missus ?
2 young ones swap??More economically viable to downgrade the missus ?
I suspect something many are unaware of is just how long it all takes.If you are in your 60's, you have seen enough booms and busts, to realise this is shaping up to be a big one IMO.
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