How to Budget on a $60K Salary in Australia

How to Budget on a $60K Salary in Australia

Young professional managing monthly budget on a laptop with charts and notes.

Making $60,000 a year in Australia puts you slightly below the median full-time salary, but it’s still enough to live well with proper budgeting. Here’s how to break it down, save smart, and still enjoy life.

Step 1: Know Your Net Income

On a $60K gross salary, your after-tax income in 2025 is approximately $48,500/year or around $935/week.

Step 2: Use the 50/30/20 Rule

This classic budgeting strategy helps you divide your income wisely:

  • 50% Needs: Rent, groceries, utilities, transport (~$467/week)
  • 30% Wants: Dining out, entertainment, hobbies (~$280/week)
  • 20% Savings & Debt Repayment: Emergency fund, credit card, investments (~$187/week)

Example Monthly Budget

Category Amount (AUD)
Rent (shared apartment) $1,200
Groceries $400
Utilities & Transport $300
Dining & Entertainment $500
Savings & Investments $600
Total $3,000

Tips to Stretch Your Budget

  • Use cashback credit cards or BNPL wisely (see our credit card guide)
  • Cook more meals at home using a weekly meal plan
  • Use public transport or car-sharing services
  • Set up automatic transfers to a savings account each payday

Recommended Tools & Apps (Affiliate Opportunities)

  • Frollo: Free budgeting & savings app for Aussies
  • WeMoney: Debt payoff tracker + credit score insights
  • Revolut: For budgeting, international money & savings vaults

Final Thoughts

A $60K salary may not make you rich overnight, but with a realistic budget, you can reduce stress, build savings, and move toward your financial goals with confidence.

Next: 5 Mistakes to Avoid When Applying for a Personal Loan

 



 

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