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Living on your income whether it be earned or a pension depends entirely on your ability to manage what you have. My mother never worked officially and lived 38 years on the OAP quite well. She left $65000 in her will when she died.
I live extremely well on $30000. The essentials of living such as rates, insurance, electricity, gas, communications do take a large proportion of the income eg in real terms $8283. Not including petrol or other car running expenses or rents . That leaves $20000 for entertainment and eating. Food etc for two is an average of $800 per month, I pay half about $5000 per year. We eat out with the family (birthdays etc) about 5 times a year at a cost between $250 and $700 a time and I always pick up the tab.
Barry
PS I do have an advantage that I have a well equipt workshop and can do all my own repairs and maintenance and with the over generous solar electric scheme I collect $1600 for generation after paying a similar amout for electricity. B.G
Last edited by Barrykgerdes; 11-10-2012 at 09:36 AM.
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