Monthly Budget for a Family of 3 in Melbourne, Australia

Living in Melbourne, Australia as a family of three can often feel like a financial balancing act. The costs of daily living can vary widely based on lifestyle, location, and specific needs. To help you plan, we've outlined some average estimates for common monthly expenses as of 2023.

Housing

When it comes to housing, the cost can be substantial. Here are the average monthly costs for various types of accommodation in Melbourne:

Rent in the city center: AUD 2500 - AUD 3500 for a 2-bedroom apartment Rent outside the city center: AUD 1800 - AUD 2500 for a 2-bedroom apartment

For homeowners, mortgage payments for a 3-bedroom house in a suburb like Surrey Hills (3 minutes from the station) can range from AUD 3000 to 3500 per month. If you're looking for something more modest, a 3-bedroom unit in an eastern suburb 30 minutes from the CBD can cost AUD 350 to 400 per week, or about AUD 1000 a week for a substantial house on land.

Utilities

Utilities are another area where costs can add up:

Electricity, heating, cooling, and water: AUD 200 - AUD 350 Internet: AUD 70 - AUD 100

Transportation

Transportation costs can significantly impact your monthly budget:

Public transport pass (monthly): AUD 150 - AUD 200 per adult. If you buy an annual pass, you can save significantly, around AUD 1600 per year (adult half price for kids, student passes may be even cheaper). Car expenses (fuel, insurance, and maintenance): AUD 300 - AUD 600 if applicable. Unless you work in a suburb with free parking, driving can be more expensive and often slower than using public transport.

Groceries

Grocery bills can also vary depending on your eating habits and preferences:

Groceries: AUD 800 - AUD 1200

Childcare and Schooling

Childcare and schooling costs are also important factors:

Childcare (if applicable): AUD 1200 - AUD 2000 per month Schooling (public school): AUD 200 - AUD 500 for supplies, uniforms, and other needs.

Health Insurance

Health insurance is a significant expense:

Health insurance: AUD 300 - AUD 600

Miscellaneous Expenses

Lastly, there are miscellaneous expenses to consider:

Entertainment and dining out: AUD 300 - AUD 600 Clothing and personal care: AUD 200 - AUD 400

Estimated Total Monthly Expenses

Adding all these expenses together gives a rough estimate of monthly costs:

Lower Range: AUD 5200

Upper Range: AUD 9000

Summary

In conclusion, the monthly expenses for a family of three in Melbourne can range from approximately AUD 5200 to AUD 9000, depending on lifestyle choices and specific circumstances. Factors like location, lifestyle, and specific needs will heavily influence these figures.

For a more realistic perspective, consider the following: A full-time retail worker earning around AUD 50,000 per year may be able to support a partner and a child but would likely have minimal funds left for savings or luxuries. If you are a smoker, your cost of living could be significantly higher, especially if you smoke a 20-cigarette pack a day, which might cost almost half your rent.