The average cost of living in Sydney is A$5,100/month for a single person. Here is what that covers, what different salaries get you, and your path to financial independence.
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| Expense | Monthly (AUD) |
|---|---|
| Rent (1-bed) | A$3,000 |
| Groceries | A$600 |
| Transport | A$200 |
| Dining out | A$700 |
| Utilities | A$200 |
| Miscellaneous | A$400 |
| Total | A$5,100/month |
Estimates for a single person renting a 1-bedroom in a central area. Actual costs vary by neighbourhood and lifestyle.
Sydney has some of the highest housing costs in the world. Superannuation provides a solid retirement base but is locked until 60.
Income tax up to 45% plus Medicare levy. A A$100,000 salary takes home roughly A$73,000.
Superannuation (compulsory 11% employer contribution) is the pension base. Additional investing through ETFs via CommSec or Pearler.