Is a Salary of $120k Including Superannuation Enough for a Family of Three in Melbourne?

Hello, wonderful Australians!

I recently obtained my permanent residency and received a job offer from one of the major tech companies. The offer is $120k, which includes the base salary and superannuation. I’m wondering if this amount will be sufficient for a young family of three—my toddler is currently 2 years old.

My wife may pursue work in a couple of years, but for now, she’ll be at home with our child.

When I say “comfortable,” I mean:

  • A safe living environment
  • A 2-bedroom house in the suburbs, about 45 minutes to 1 hour from the CBD, ideally in a good neighborhood with reliable transport options
  • Eating out two or three times a week—nothing extravagant, just a casual sandwich or burger
  • Enjoying nice dinners for special occasions like anniversaries or birthdays—about four times a year
  • Access to local parks, malls, etc., for family outings
  • A Netflix subscription and internet access

Essentially, I’d like to avoid stress regarding meals, housing, and general safety.

I believe once I’m settled in Australia, I have the potential to land a higher-paying job, possibly around $150k. What are your thoughts?

One thought on “For a family of 3, is 120k including Superannuation in Melbourne, enough for comfortable living?”

  1. Congratulations on your PR and job offer! It sounds like you’re on a great path. In terms of your question about living comfortably in Melbourne on a $120k salary (including superannuation) for a family of three, let’s break it down.

    1. Housing: Rent for a 2-bedroom house in the suburbs can vary widely depending on the area. On average, you might expect to pay anywhere from $1,800 to $2,500 per month, depending on how close you are to public transport and local amenities. Areas further out tend to be more affordable, but you’ll want to ensure you’re in a safe neighborhood with good schools if you’re considering your child’s future.

    2. Groceries: For a family of three, you might budget around $600 to $800 a month on groceries, depending on your eating habits.

    3. Eating Out: Casual meals can range from $15 to $25 per person. Eating out a few times a week can add up, so budgeting around $300 to $500 monthly for dining out is reasonable.

    4. Transportation: Consider whether you’ll need a car or if you’ll rely on public transport. If using public transport, a monthly pass will cost about $160. For a car, budget for fuel, insurance, and maintenance.

    5. Entertainment and Subscriptions: Including Netflix, internet, and occasional outings to parks, cinemas, etc., you might budget around $100-$200 monthly.

    6. Childcare: Since your toddler is two, if you choose to enroll them in daycare or preschool when you need it, that can range from $80 to $150 per day, which can become a significant expense depending on your work situation.

    Overall, with careful budgeting, $120k can provide for a comfortable life, but it will require planning, especially if your wife is not working initially. If you’re confident about landing a higher-paying job down the line, that will definitely ease financial pressures. Make sure to explore suburbs that balance cost, safety, and community well-being for families. Wishing you all the best in your new adventure in Australia!

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