Is $12,000/Month Enough to Live Comfortably in a Melbourne Suburb 20-30km Away with a Family of Four?

Living on a monthly budget of $12,000 in a suburb 20-30km from Melbourne with four family members can provide a comfortable lifestyle. However, it depends on various factors such as housing, lifestyle choices, and personal circumstances. Here's a detailed breakdown to help you determine if this budget is sufficient.

Housing Costs

Rent/Mortgage:

Suburbs around Melbourne vary widely in rent. As of 2023, a 3-4 bedroom house might cost anywhere from $2,000 to $3,500 per month.

Utilities:

Expect to pay around $200 to $400 per month for electricity, gas, water, and internet.

Groceries and Household Expenses

A family of four might spend approximately $1,000 to $1,500 per month on groceries, depending on dietary preferences.

Transportation Costs

Car Ownership:

Consider costs for fuel, insurance, and maintenance, which could amount to about $300 to $600 per month.

Public Transport:

Public transport costs can vary, but a family might spend around $200 to $400 monthly.

Healthcare and Insurance

Consider health insurance premiums and out-of-pocket medical expenses, which could total around $300 to $600 per month.

Education and Childcare

If your children are in school, additional costs for uniforms, supplies, and extracurricular activities can add up. Childcare costs can be significant, ranging from $1,000 to $2,500 per month.

Miscellaneous Expenses

Entertainment, dining out, clothing, and other personal expenses can vary. Budgeting around $500 to $1,000 monthly for these costs is reasonable.

Total Estimated Monthly Expenses

Housing: $2,000 - $3,500

Utilities: $200 - $400

Groceries: $1,000 - $1,500

Transportation: $300 - $600

Healthcare: $300 - $600

Education/Childcare: $1,000 - $2,500

Miscellaneous: $500 - $1,000

Total Range:

Low End: ~ $5,600

High End: ~ $10,100

Conclusion

With a budget of $12,000 per month, you should be able to cover these expenses comfortably and still have room for savings, investments, or discretionary spending. However, lifestyle choices, specific suburb costs, and personal financial management will ultimately determine your comfort level.

The cost of living in suburbs 20-30km from Melbourne can be challenging but manageable with careful budgeting and prioritization. Ensure you have a detailed budget plan and consider factors such as healthcare, education, and entertainment expenses.