Living cost in Melbourne

Some years ago, I find it very difficult for me to check for information of the living cost in Australia when I was looking for more detail information about Australia. Very few website available but seem is outdated if you are trying to Google it online.

Here I would like to share some of the living cost information in Melbourne so that someone who is keen to know about living standard in Australia would find it useful.

Asian grocery cost (just as guideline as up to date):

Usually, Melbourne city, Footscray, and Boxhill are few area that you can easily get cheaper Asian groceries.
$=AUD

1. Thailand imported rice, $24/10kg
2. Spring onions, $1.20
3. Lettuce, $1.70/each (During Spring sales is abt $0.99)
4. Soya sauce 500ml(Kikoman or LeeKimKee brand) AUD6
5. Chili, $9.99/kg
6. Tomyam paste/bottle, $2.50
7. Choysum, $1.40/stack
8. Kangkung, $1.40/stack
9. Mackerel fish, $24
10. Grapes, $6/kg
11. Chicken whole, $8
12. Salmon, $6.50/piece
13. Skinless prawn, $13/kg
14. 1L olive oil, $8
15. Onion 1 pack ( abt 1kg),$1
16. Garlic 1 pack (abt 6 pcs),$1
17. English spinach, $2.98/stack
18. Mushroom cup, $7.98/kg
19. Chinese mushroom (500g), $9
20. Japanese toufu, $1/each
21. Peanut butter 500g, $3
22. Whole meal bread loaf 800g, $2.50 (sometimes can find discounted price at $1.20 from Coles/Safeway)
23. Cucumber, $1.48/kg
24. Yogurt, $4/kg
25. Ginger, $13/kg
26. Tomato, $1.75/kg
27. Msia Kampung Koh chilli souce, $1.60/bottle
28. Farm egg XL size, $4/dozen

Transportation cost:
1. Cost of owning a car can be varies according to age of the car and type of a car. You can go to http://www.carsales.com.au/ to check for price of second hand car.
2. At the rate of USD80/barrel world petrol price, Ron-95 petrol in Australia is selling at about $1.25/liter. You can get 4 cents discount if you purchase $30 more receipt from Coles or Safeway.
3. Car insurance cost abt $900-100o/yr including coverage for windscreen damage
4. Car service about $250 each time for changing engine oil and oil filter
5. Cost of public transport depending where you going and where your are staying. Go to http://www.metlinkmelbourne.com.au/ to look for public transport fare

Housing:
A decent housing at inner suburb for 3-rooms house near the city is about 500k-600k. A 3-rooms house at outer suburb at west of Melbourne will be about 300k-350k.
Rental varies and depending which suburb you are staying. Go for http://www.realestate.com.au/ for more information.

Utilities cost:
1. Electricity - 18- 19 cent per kw/hr
2. Gas bill about $25/mth without ducted heating system
3. Water rate (Based on City West Water as per date)
<440 day =" $1.26"
>440<880 day ="$1.4785"
>800 litres/day =$2.1844
Sewerage $1.4545/kilo litres

Water service charge abt $35/ 3 mths
Sewerage service charge abt $40/ 3 mths

Hope these information are helpful to those who intend to move to Melbourne to live.

Online saver

After arriving to Melbourne for almost a month, I managed to grab a local Australian money magazine. I had been developing a habit of reading finance magazine since few years ago. I am glad that I can find the various type of finance magazines in Australia as well.

One article caught my attention regarding higher interest rate of online saver from Ubank. Ubank, NAB backed bank has launch an online saving account paying a good rate of 5.11%p.a compare with the rest of competitors.

To find out more on this bank. Please log into following link.
http://www.ubank.com.au/ub/web/usaver/online-savings-overview

New update on top 10th country of origin migrant to Australia

I had shared the information about number of Malaysian that getting visa and permanent residency in my previous article.
This is the latest information in year 2008-2009 on top 10th country of origin migrant to Australia.

Starting a saving account in Australia

Transferring your money to Australia is one of process while you are relocating to Australia. Do bear in mind that opening a saving account in Australia no need to be qualified as a resident. Therefore, you can even start a saving account while you are doing your first landing after you got your visa or visiting to Oz. However, without the TFN, all interest earn will be taxed 10% for normal saving account.

Australian bank is offering pretty good interest rate for investment saving account compare with some of South East Asia countries such as Malaysia or Singapore.

There are few options of saving account below which are offering good interest rates.
1. Bankwest: Gold Term Deposit (saving amount $5,000 - $20,000)
2. Bankwest: Bankwest Smart esaver (give good rate of interest each month without any withdraw. Investment up to $5000,000)
3. Bankwest: Regular saver high interest account ( deposit $50-$500 each month without any withdraw )
The variable interest rate for accounts as mention above.
4. ANZ Bank: First Home Saver Account

For those who intend to save money to purchase a new home in Australia, start a First Home Saver account is best option to earn interest rate as high as 17%.
However, one of disadvantage of the account is retaining the account for at least 4 financial years in order to use it for first home purchase. I believe that many migrants would not prefer to rent a house for four years because house rental rate in Australia is quite high compare with monthly housing mortgage installment.

To open the first home saver account, you must:
- be aged 18 or over and under 65 as a resident
- have a tax file number
- have never owned a home in Australia that you have lived in
- have never opened a First Home Saver Account before

Below is features of the account including attractive interest rate that offered:
- the Government will contribute 17 per cent on the first $5,000 (indexed) of individual contributions made each year;
- an overall account balance cap of $75,000 has been introduced;
- Investment earnings (or interest) that accrue in the accounts will be taxed at 15 per cent.
- Withdrawals will be tax free where they are used to purchase a first home to live in.

More detail information about the account can be found at Q&A of First Home Saver Account

Another sham and scams in education industry - a way to gain permanent residency

Looks like this is not as simple as we think as education a way of gaining the immigration pasport seem led to black market.

Refer to news link as below:

http://www.theaustralian.news.com.au/story/0,25197,25778649-601,00.html

Job slump hits migrants most in Australia

http://www.theaustralian.news.com.au/story/0,25197,25738099-601,00.html

How the new financial budget helps

How does a new financial budget helps? Effective from 1st July 09, some of the list below will change for better to help us to ease individual financial burden during this crisis.

For Victorian, first homebuyers in Victoria are eligible for up to $36,500 in grants before year end. For those who is still not having the first property, better hurry for this before the first home grant boast from federal goverment end.

http://www.news.com.au/business/money/story/0,28323,25717019-5017313,00.html