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this is a very generalist question and I understand will have lot of variables at play. However, I'll try my best to make it as specific as I can. I'm after an acceptable everyday living expenses figure in Melbourne, AU in 2022.

Scenario: Couple in mid-40s > no dependents

  • Following expenses already put aside and budgeted for > monthly rent, electricity, gas, water, internet, streaming services, car repayments, insurances(car, medical, home), fuel, personal loan/credit card repayments
  • This leaves with everyday groceries, weekend entertainment, clothing, home running expenses etc. Is budgeting $100 a day for these- i.e. $2800 for a 28 day month a reasonable estimate?

I'm sure everyone will have different views but a realistic estimate is what I'm after.

Thank you.

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Please pardon that this is US centric, but I think the principles apply.

I'm after an acceptable everyday living expenses figure

My question is why? Why is that important to you?

The figure is something that will vary from couple to couple, and will often vary over one's life time. We live in free societies, and it is somewhat rude to tell someone how they should spend their hard earned income.

The varying part occurred in my life as when we were first married my wife and I made it a priority to reduce our debt to nothing. We directed most of your disposable income to debt reduction and then college savings for our kids.

After those goals were accomplished, and our retirement savings were on track we directed a decent part of our disposable income to travel.

So first I would recommend that you further categorize your 2800 number. How much is for groceries, how much for entertainment, etc... The number seems high, but it may not be. Perhaps certain dietary restrictions require a higher than normal food budget. Perhaps it is a priority that you both complete IronMan Australia, which consumes budget like crazy.

So it seems high to me, and it also seems that you have a lot of debt payments. If it were my wife and I, we would pay down that debt.

But what does your spouse say? The key is for you two to work together on how to spend the money you two earn.

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  • Thank you Pete. Since covid, the household is down to 1 income and everyday living seems to be a difficult component to formulate. Everything else mentioned in the 1st bullet point is OK as those amounts are known.
    – aJ-47
    Commented Mar 1, 2022 at 6:31
  • @aJ-47 If it is not COVID, it will be something else. At times it seems like the world is set against you and your family. However the key is that you and your spouse work together. I, for one, am rooting for you two.
    – Pete B.
    Commented Mar 1, 2022 at 13:34

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