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- 06-03-2009, 03:55 PM #1
Can you be a SAHM with a family income of $70 000?
Ok this question seems crazy because I know there must be a lot of other families out there with SAHM's/SAHD's where the main income earner earns less than this. I think 70 000 is a pretty good income so why does it seem so hard to make it work?
We have been thinking more and more that I don't really want to have to go back to work when DS is 1 year old, DP would like to wait until he is at least 18 months but really we would both love it if I did not have to go back to work until he is at school.
DP's income is $70 000 (it just went up). Our car is salary packaged through her work and she has a HECS debt so her take home pay is $1500 a fortnight. Our mortgage is $1000 a fortnight (2 bedroom unit in Sydney). Can it be done?Me 27
m/c Oct 2007 @ 9.5 weeks baby "S". Always remembered and loved
Little JoJo born Sept 08 The love of my life!
- 06-03-2009, 03:58 PM #2
So you'd be living on $250 a week, after rent? With some budgeting, I'm sure it can be done, but my guess is it would tight. Would you received anything from Centrelink?I swam and I swam, and I damn well made it!
- 06-03-2009, 04:00 PM #3
Of course it can .
Also if your dp is earning $70,000 a year you are also entitled to family tax benefit and most likely a small amount of rent assisant . So you really have more then $500 a fortnight to live off .
We do it and we have 3 kids . Quiet happily we dont have money to burn but we can afford everything we need and some of the stuff we want .Noah Mr everywhere 25th of January 2008
Ethan the Cookie Monster Born 8th September 2005
Jake my big boy 21st December 1998DH thinks he is a stud
A Baby Girl coming Spring 2012
- 06-03-2009, 04:06 PM #4
I think if you REALLY want something, it can be done.....you essentially have $250 a week after paying your mortgage (plus what you might get from Centrelink - check it out!!) to pay for
*nappies (if you use disposables...you could always become a clothie if you're not already )
*fuel (could easily be cut back!!) and car costs (since you already have a car...otherwise I would say maybe think of alternate ways of getting places)
Might not seem like much but essentially, it is all you REALLY need
*Phone and Internet
*Health Insurance (some people see this as a necessity but it's not necessarily)
*Home and Contents Insurance (again, I wouldn't risk NOT having it, but hey - lots of people do!)
I am sure there are more but my head is not very clear at the moment (I am sick...)
But what I would do is go through everything you are spending ATM (break it into categories and costs, probably fortnightly is easiest for you), take out any 'luxury' items or 'non-essentials' and see what it adds up to. Oh and check out Centrelink as you wouldn't be HIE I don't think, on $70K so you should be able to get some kind of payment...
HTH a little...
Last edited by livelaughlove; 06-03-2009 at 04:10 PM.Me 25 DH 25"Princess" - April 2008"Little Man" - May 2010
- 06-03-2009, 05:33 PM #5
I would definitely check out centrelink first before deciding. $250 while doable would leave you with barely anything and after awhile you could become resentful at having no money to do anything or buy extra luxury items.~Aimee~Kaelyn & Mackenzie 9/7/05Ryder 22/9/06Chase 5/6/09
- 06-03-2009, 06:04 PM #6
Personally I couldn't do it - check how much more the centrelink support would get you. I'd be needing something closer to $350 but we're all different and our ideas of what's necessary are also different.Me = 36
DH = 37
#1 born 7 July 2006
# 2 is currently cooking and is due early August
Doggies x 1.
- 06-03-2009, 06:14 PM #7Member
- Join Date
- Jan 2009
Personally, I would say no. I wouldn't like to live on that budget. It could be done but you will have to make sacrifices. DF earns quite good money (we're in Sydney too) and we own a nice house in a very good area close to the city. I used to hate it when we were living from pay packet to pay packet - it's merely existing. We like our lifestyle so much that I chose to go back to work 2 days a week...basically because my paid maternity leave ended (yes, I am one of the lucky ones to get paid maternity leave.) I had 28 weeks at half pay which was good. But found that we would have struggled to maintain our lifestyle if I didn't go back to work and I actually enjoy being back at work - it's only 2 days.
If you really want to stay at home then I'm sure it is possible but it might be difficult. It sounds like you really want to stay home with your baby - good luck, I hope it all works out for you!
Last edited by lozzaaa; 06-03-2009 at 06:17 PM.
- 06-03-2009, 06:15 PM #8Member
- Join Date
- Jul 2006
- in perpetual chaos
yes!!! cntact Centrelink though as I think you'd get prob $100 ish a fn from them for Fam AssistMe - the Twi-nerdDH - the computer geek 33
DD 4 our breastfeeding journey ended after 22 months
DS2 2 >>birth story<< the boobie bandit at 2 1/2
Our family is perfect and complete
- 06-03-2009, 06:20 PM #9
And we have lived week to week before...I wouldn't want to go back there...Me 25 DH 25"Princess" - April 2008"Little Man" - May 2010
- 06-03-2009, 06:25 PM #10
I do not think that I could live off that. I am a SAHM too DP earns 58,000 has a lease so his take home pay is not huge. We don't have a mortgage and live in a DHA house so it is reduced rent. It leaves us about $600 to live off. I have been stressing about it but thinking about it I think we will be fine.**please do not reproduce for FaceBook**Me A 29 Him B 40Married 11th June 2011DS 1 My Big 4 Year Oldhttp://www.facebook.com/profile.php?....4266451883..1