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  5. Is it possible to live on $45k a year for a family of 3?

Is it possible to live on $45k a year for a family of 3? Lock Rss

Our private health insurance is currently $250 a month. I am not sure if there is something we can do to reduce that. It covers hospital and extras, and excludes obstetrics.

I am very money conscious, but still can't seem to find how we can pay $250 a month on health insurance when our income goes back to $45k gross.

In the first instance, I would certianly be contacting your health insurance provider and/or something like iselect and seeing if there is a cheaper alternative for your situation.
$250 a month is a lot for hospital and extras excluding obstetrics. We were paying roughly that, and it included Obstetrics, and came down to about $170 or so when we dropped that cover as it was no longer needed. We are with HCF and have found them to be quite reasonable.

His Royal Highness, Prince William

thanks everyone.

We need two cars as hubby works over an hour away from home and we have a 12 week old in an area where public transport is extremely limited. We own both cars.

No pay tv here. Internet and phone are bundled together for next year and a half at a minimum.

Been looking around at health insurance options, can't get much cheaper for both, so I'm not sure why ours is so expensive compared to others?? Very frustrating...

Someone mentioned that with 3 kids we could manage - I just want to clarify there is only one child and two adults.

Thanks for all your tips I might have a closer look at our spending holes and see what I can do.

I might even look around for a second hand freezer.
We dropped our private health at the beginning of the year - for us it's about what our needs are at this moment in time. And at this moment in time, financially we need the money more. When I cancelled the insurance, I was advised that we have 2 years and 364 days (basically 1 day less than 3 years) to take up health insurance again without incurring any age penalty. A handy thing to know and hopefully at that time we'll be in a position to take it up again.
With our health insurance company, you can suspend your membership for up to 12 months if you're experiencing financial hardship. That way you don't have to see out the waiting periods again when you reinstate the policy. If you were planning to return to work that might be an option for you.

As pp's have said, it's definitely worth shopping around as insurers differ so much in price and what they cover.

Petal, NSW, Mini Cooper 10.3.07

Someone wrote about spending $100-120 on food a week, I am IMPRESSED!!! Would like your meal planner,,,,
I would look at the private health maybe just go hospital cover we had hospital n extras but have gone back to just hospital cover. we pay $500 a week for our house loan we pay a bit extra but we are only on one wage at the moment and expecting our first child. but it can be done.

Someone wrote about spending $100-120 on food a week, I am IMPRESSED!!! Would like your meal planner,,,,

That's all we spend for two adults and a 4 1/2 year old. Although we do have pretty plain eating habits. 3 nights a week we just have steamed vegies and if anyone is still hungry it's yoghurt and/or fruit. We'd have potato, fish, chicken once a week. Saturday nights we make something a bit better like honey soy chicken, or spag bol or something like that. Also what I do is if we have a week where we're not spending that much I buy some extras like cleaning stuff and pantry items.
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