How to Budget on a $60K Salary in Australia
How to Budget on a $60K Salary in Australia 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 $60...