Jul 23 2008
Confused Average Australian
I read an article recently which made some interesting statements about the financial position of the average Australian.
Apparently it breaks up as follows
You have a house valued at $458,488.00
You have a mortgage valued at $341,000.00
You have a credit card debt of $3,085.00
You earn a massive per week salary $1,124.50 ($826.00 after tax)
And apparently you are worth $250,000.00
As per normal the average Australian is obviously a hooch smoking liar or someone is confused (and I am not ruling myself out here).
Confusion 1
House value $458,488.00
Minus mortgage $341,000.00
Total equity $117,488.00
So most of Australia has another $132,512.00 sitting in super, the bank or in possessions somewhere…… That dog don’t hunt
Confusion 2
Mortgage $341,000.00 +
Credit card debt $3,085.00
Total $344,085.00
Cover this with a 9% interest rate $2,580.00 per month (interest only loan)
With a take home pay of $3,580.00 per month
Apparently the average Australian can survive on the remaining $1000.00 per month. Not hard you say, somehow fuel, insurance, food, rates, electricity and every other expense can be covered by $230.00 per week? Once again the hoochie coochie is clearly disturbing someone’s perspective.
Maybe I am all mixed up here or maybe you chaps have some special ‘bookwork’ or ‘creative accounting’, if you will, to account for this?
I will be happy to hear suggestions and look forward to entering the housing trap… I mean market.
Thought I would start this off. I assume these igures have been peaced together from a number of different sourses as quite oviously they do not work out mathmatecally.
You will find that using an average is not statistically accurate for data that is in any way skewed ie. non-normal. Home prices and salaries are perfect examples of non-normal data since only a few very high salaries/prices will influence your average and make it useless. Medians are more typcially used for such collections of data.
While I agree with you Marteen I still believe the figures illistrate a systemic problem with the financial leveraging mentality of the citizens of this country and theit unrealistic view of attainable living standards.
Once again I ask the question……………Is Jethro really Rambo??????????
With an average income of only $58k/year it’s easy to see why so many people struggle and our country is full of bevans and bogans.
Maybe we could turn the town of Bathurst into a concentration camp for all those who choose to wear flannies, thongs and drink VB…..oh wait….we do that every year.
Jethro, what language do you speak?
Well well Marteeen may just be the smartest bus driver in the country or has he cut & paste his explanation from a math text?!
Boring, your post once again confirms your status as the imbecile of the site!
Reeeegitz, leave Sly alone.
Cervelo, WELCOME. I could grow to like you!
Thanks for the welcome iamasmartman.com, though sorry to disappoint you…i’m not GAY!
That’s OK Cervelo, but it would have been nice to have some more diversity amongst the readership. The rest of us are hetero as well. All except the brothers Boring & Velcrap; they’re animal lovers if you know what I mean!
Not sure if you can include yourself amongst the hetero readership IASM since you’ve never had the chance to try it either way….
Fat One, I have a girlfriend who can attest to my heterosexuality. I’m not interested in trying homo. Thanks for the offer though.
I refer you to my earlier pizzling champ. Blow up “girlfriends” are a bit of a laugh for bucks nights, but they don’t count. Not even for someone with your unbelievably long list of short-comings.
Simple Fat One, She is not a blow up girlfriend. She’s real & beautiful!
Sorry to rub your big fat nose in another aspect of my great life! Let me guess…you’re an overweight, beer drinking, cigarette smoking, problem gambler whose fat bevan wife left him & you spend your spare hours being bitter & twisted & wonder what could have been??!?? How close am I loser??
You got 3 right champ, I’m an overweight, beer drinking, problem gambler. I used to spend a portion of my spare time wondering what I could have been. Then you came along and made me realise how good I actually am in every conceivable area of my personal and professional lives.
Thanks for setting such a low benchmark for us all….
Fat Simple One, a front foot defense. Well played.