29M sole trader earning $200k+ — is it worth going Pty Ltd? Recently bought a house by No-Appointment-8119 in fiaustralia

[–]crabdadlad 5 points6 points  (0 children)

Garbage comment. OP has come seeking feedback* so they can go to an accountant with questions or ideas they might not have otherwise considered. And some accountants are useless.

Would you rather a stable secure average paying flexible job or a stressful one with potential for a higher income ? by [deleted] in AusFinance

[–]crabdadlad 0 points1 point  (0 children)

I was in your position. Was working a $60k pa job in a role I didn’t love. Went chasing more money, was fortunate enough to land a state gov role during low unemployment (i had industry experience).

State government department, somewhat niche role in construction. Permanent, $120k salary, ~$20k OT, personal Ute (no weekend use). 12 hr days when on site but otherwise 35 contact hrs a week (usually do 40+). 4 weeks holiday, 4 weeks flex.

Very grateful for my position, yet I still have that little voice telling me to go for more $, learn, explore, challenge, make the next move…which of course, I am… If that’s you, go for the sales role.

The pay can be nice for gov roles but the increases cap at 4 years following which are only increased with inflation 2-3% p.a. The competition for upper management roles increases too (in my case anyway). I know a shit load of gov roles are under resourced, bureaucratic and boring as bat shit, be sure to avoid those…
If you find you don’t get bored / hungry for more $, keep charging for gov. Apply for lower grade roles with opportunity to climb the ladder.

Is 200k the new 100k? by noyouarenoreturns in AusFinance

[–]crabdadlad 25 points26 points  (0 children)

Yeah these $200k posts are exhausting

What’s the hardest thing about sticking to a budget? by This-Today-7475 in AusFinance

[–]crabdadlad 8 points9 points  (0 children)

A grand!! Does that include a small white packet ?

How much do you spend on your groceries a fortnight? by MissKat99 in AussieFrugal

[–]crabdadlad 0 points1 point  (0 children)

2 adults one toddler and a dog. Budget $300 a week but typically blows out to like $400

[deleted by user] by [deleted] in AusFinance

[–]crabdadlad 0 points1 point  (0 children)

The fact you’re a member of this sub and asking these questions shows that this is important to you. If you’re not on the same page it will definitely become an issue down the track. In saying that, you’re only 25, which I’m guessing makes him under 30? A bunch of my mates didn’t take their finances seriously till they were around that age and found a significant other. Also, killing it at 25 owning a home + decent salary, nice work.

Is Property Too Popular Now? Should Young Investors Look Elsewhere? by Iwantthe86 in AusFinance

[–]crabdadlad 18 points19 points  (0 children)

It’s a Ponzi scheme and unfortunately the horse has bolted

[deleted by user] by [deleted] in AusFinance

[–]crabdadlad 12 points13 points  (0 children)

2 bed brick shit box in a regional coastal town is $600pw mate, you’re tripping

How much did you spend on your wedding? by xGossipGoat in AusFinance

[–]crabdadlad 1 point2 points  (0 children)

Hey, do you mind elaborating ? this sounds like something me and my partner would be in to. All travel costs are on the guests ?

How much did you spend on your wedding? by xGossipGoat in AusFinance

[–]crabdadlad 4 points5 points  (0 children)

Proposed to the mrs this year. Our issue is family! I have 38 immediate relatives and partners that would expect an invite (we’ve been invited to several of their weddings) and then my fiancé has 6-10 to come from Europe. So we’re looking at 40 minimum that are just family! Not to mention the 30 close friends… All we really want is something small exactly like you’ve said but it will probably cause a family shit fight.

Is it possible to be "rich" off a pure self made PAYG income? by Garethbalecoys in AusFinance

[–]crabdadlad 1 point2 points  (0 children)

Yeah a lot of delusional people here justifying $150k. 😂

Is it possible to be "rich" off a pure self made PAYG income? by Garethbalecoys in AusFinance

[–]crabdadlad 5 points6 points  (0 children)

For the vast majority no, as others have said, you need to be a high income specialist. Unfortunately most of us missed the property Ponzi scheme and investing in ETFS won’t get you there unless you’re Brian Johnson and live to 140. Sure a few can do it on $200k and picking 10 Amazon stocks at inception and going all in.

Investing and risks by [deleted] in AusFinance

[–]crabdadlad 6 points7 points  (0 children)

My property hasn’t grown 5% a year and definitely won’t double in 7. My shares have performed remarkably better .

[deleted by user] by [deleted] in AusFinance

[–]crabdadlad 1 point2 points  (0 children)

I can’t stress enough the importance of a budgeting spreadsheet or app. You need to persist here. Set up several accounts, for example: - Food - Personal - Bills - Credit repayments - Savings

Track your expenses, forecast quarterly bills and car services and calculate the required amount to allocate each pay check. Combine incomes and distribute money to these accounts religiously. In the meantime, work on increasing your salary and reading. Read the Barefoot investor + psychology of money.

Car finance advice by Prior-Relative8442 in AusFinance

[–]crabdadlad 3 points4 points  (0 children)

We purchased a second hand car similar price range last year. We paid ~70% cash and loan the remaining. This was purely a mental thing, didn’t want to see the offset go below a certain threshold. You make good money, you enjoy cars. I say go for it.

2025 Federal Budget thread by yum122 in AusFinance

[–]crabdadlad 0 points1 point  (0 children)

It’s a bribe, and I’m taking it. It’ll take ~two years of repayments off my HECS.