Australian Money, What Can It Buy You?

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Many new comers or visitors ask how much Australian money they need per week.

Australia is not a cheap country.

Because it has a very high standard of living.

One of the highest in the world.

As per the 2014 Credit Suisse Wealth report, only Switzerland had a higher average wealth.

So we come second. On average. Not bad!

But our median wealth is actually the highest in the world. Not the average one, but the median one.

Which means that there are as many people having riches above the middle number as there are people having less than that median. And the report showed that the median figure was USD 225,000 for Australia.

Is this good or bad?

Statistically speaking, it is better than in many other countries as Australia has a larger middle class and more affluent. 

But leaving statistics aside there's a price to pay for that. The richer you are the more you want. The more you want the more demand there is, which means sellers can charge more for whatever their customers want: food, rent, real estate, entertainment, services. Especially when the total number of the customers is much smaller than in other countries.

Every person is different. Some want to spend big on entertainment or attractions, others travel around and spend a lot on transport. But the one item for which everyone has to allocate money is food, whether they cook at home or dine out.

Australian Money - Food

Below are some examples of food items at average prices.

$ 5

2 litres of milk, or

2 loaves of sliced bread, or

1 - 2 kg of fruit or vegetables in season, or 

a cup of coffee and a cupcake or cookies, or 

1 - 2 scoops of ice cream, or 

1 beer at the pub

$ 10

1 kg of chicken breast fillets or red meat, or

1 kg of cheddar cheese, or

a bottle of wine at your local shop, or

take away meal with a can of drink at the food court

$ 20

2-3 good slices of fresh salmon or some nice seafood at the shops. Order 1 main course at a restaurant. Some restaurants may even throw in a glass of wine or soft drink.

$ 50

Basic groceries for one for several days. 

Dinner for two at your local pub or restaurant. Order drinks separately.

Prices will vary from place to place. The information above is a starting point to help form an opinion.

If you choose a basic or no frills alternative you'll get more of it for the same price. And you'll pay more if you want to go for organic food or higher quality.

Accommodation

Prices for accommodation are rather high too, with a very basic hotel room starting at around $100 a night and going up with the quality and location of the hotel.

If you are spending more than a week in an Australian city, or if you are a new resident it is better to rent an apartment.

Australian Money - Entertainment

Cultural entertainment includes museums, theatres and movies.

Many museums are free, for example the NSW Art Gallery, but they can charge a fee for special exhibitions.

Others are not and the entry cost can vary between $10 - 15. For example the Australian Museum.

The special exhibitions admission is usually higher, at around $25.

Theatre shows can be anywhere from around $60 to $150 on average, with some concerts higher than that. Good seats at the opera are around the $200 - 280 mark.
   
Movies don't come cheap either. A ticket at the cinema is $20. Add pop corn and a drink and you've spent over $30 just for yourself.

Take your date out, do the math and then ask yourself if it's not better to go to a club or restaurant.

It is.

But wait, there's the option of going to the movies on Tuesdays.

Much cheaper. Just $13 for the ticket.

And forget the movie food. Why would you have pop corn and soft drinks anyway when they are not good for your health?


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