Thread: Petrol is still cheap

Originally Posted by simonr23

just going off-topic for a second. i hate the average wage amounts they use. in real terms (median perhaps?) i would think the average wage is more along the lines of 750-850gross per week. especially here in SA. there are just too many people people working in retail and manufacturing(unskilled) as a % for 1100p/w to be relevant here. i know in my brief work history (im 26) ive only worded with/for a handful of people earning over 50k a year.

The average quoted in this, as with most statistics is the mean unless otherwise qualified. More useful in this case would be the median, which will be the same as the mean if the distribution is normal. Which it probably is not!

But even so, I suspect that it is not too far wrong - your experience is probably biased - partly because of your age, but also because of where you live. Except for the those in mining, SA is probably below the median, but don't forget that as well as the people you know, there are quite significant numbers getting a lot more, not only people who have been in employment a lot longer, but people in higher paid industries or locations or doing shift work. Starting salaries for most university graduates are close to this average, and a large proportion of new entrants to the workforce come from university.

Of course, there are also a lot with significantly lower incomes as well - for a start most retirees, students, and invalids, as well as those in many retail and manufacturing jobs.

John

This following is a huge pile of BS written on nightshift .......


A lot of it also comes down to lifestyle choices, and whilst I respect peoples right to spend their money as they see fit it does amuse me no end!

My first home cost me $100k in 1992.... I sold it for $125k 18 months later

My second home after my divorce (smaller but on larger block with a HUGE workshop) cost me $67k in a nice suburb 20 minutes from work. I put in a new bathroom, kitchen and floor coverings and got $140k... This was in 2000

My 3rd house cost me $150k, had 6 bedrooms, 3 bathrooms, Family, Formal Dine, Lounge, Study and inground pool..... Got it in 2000 and sold it to move to Whyalla for a 'sea change'... Got $280k from it in 2004

Whyalla, South Australias "boom town" purchased a 1942 Bungalo.. For $150k... Its now worth $350k market value...

The ISSUE is overspending...... And as mentioned earlier "Keeping up with the Jones' "

Today we all want the big kitchen, 5 bedrooms, dbl garage.. New car... etc...

We dont need these to be happy.... Having a "life" makes us happy...
Working to support outrageous debt is not life...

A workmate of mine said this "Dont be so busy making a living that you forget to make a life" I think its great....

My parents started with nothing, saved and built a house which cost less than my first car

Then us kids grew up and moved out and they built another new house....
Much nicer, roomier, it was done as an investment in their retirement...

They worked hard to make their money, and both retired at 53...
They sold their BIG house and built a nice house on a smaller block on the edge of dads favourite golf course...

They have new cars, etc and travel often...

But my point is THEY EARNED IT OVER TIME....

They didnt spend $500k+ on their FIRST or SECOND homes...

They didnt have flashy cars....

They were careful with their finances and made wise decisions...

They KEPT their cars for 7-10 years for quite some time...

And now, in their later years, the fruits of sensible spending and controlled debt they have a comfortable lifestyle that will take them to their graves.

Oh yeah, and their $10k house (36 years ago) and their $2000 datsun 1200 was done back in the day when they were making $95 per week. And interest rates were 18%+...

They survived the "fuel crisis"... The recession we had to have... And a host of other trials and tribulations


Modern housing prices is a product of our own stupidity... People are paying insane prices for a "box"....

Who cares what suburb you live in? If the house is a HOME and safe then thats all that should matter...

My HOME is somewhere I stay when I'm not out doing things And somewhere to keep my things when I am out

I like it to be clean, tidy and safe... But dont need to sink my earnings into it.... I'd rather sink them into a holiday

istill believe fuel is the cheapest cost of owning a vehicle particularly if u pay someone else to service it.looking at prices of 05 & 06 D3(as an example) secondhand the depreciation of these vehicles is a lot more to worry about than the price of fuel

looks like i will have the D2 for a while

tombie2 you are right.
we now have a want it now generation,many have never done it tough & they dont know what the word SAVE means,how would they be if interest rates were 18% ?
anyway,the sun is still shining & the landy still goes
cheers

Our experience mirrors some of the above.

I seem to recall paying, in Carnarvon in 1970/71, the same for a gallon (4.54 litres for you young'uns) of petrol as I paid for a pack of ciggies - about 35 cents.

I was on pretty good money of about $100 per week. I had a company house at $10 per week (10% of my salary). Elisabeth was working for NASA and earning about half what I got.

Because our 1966 Vauxhall Viva was giving problems, we bought a new car - a top of the line Hillman Hunter Royal 660 - for $2670 which meant going to a solicitor to get a bill of sale before we could get the CU loan (because the company CU was in Sydney). Elisabeth's earnigns were not considered in the loan application. We drove that car for 30+ years (then my son got it - I gave it away last month).

When we came back to Sydney in 1971, we bought a house in Penrith for $15,000. We couldn't afford Paddington where I worked - a terrace there cost $30,000. The house was a tiny (8-9 square) 3-bedroom, fibro/tile place, single bathroom and toilet, no garage, no dining room or family room, no paths. We had second hand furniture and some crates. House payments were $57 per month.

But we had a home. We added ducted aircon so we could sleep (shiftworkers) in Penrith's summers. Then a new kitchen and garage as we could afford it. Most of our money went on our hobbies (no kids!!!) but we also paid out the 25 year loan in 7 years. Interest rates were a lot higher than now!

When we sold that house for $50K we moved to our current location. We had to borrow $20K to get into this house. Even with an excellent credit rating, we couldn't get a loan - not even from the same building society with whom we'd saved our money and who had loaned us the money for the first house. Money was tight! We eventually got the loan from an insurance company. It took about 7 years to pay that 25 year loan off, too, when interest rates were around 17%.

My problem is that I'm still stuck with a Seventies mindset on prices. I look at stuff and say "Cor, that's flamin' expensive!"

It's also interesting to note with the stories above that consumer credit in the form of credit cards was not available until the mid 70's (I think Bankcard was introduced in 1975 ) So people were not carrying debts apart from maybe a mortgage and a car loan or small overdraft.
The other week the bank that has our home loan kindly sent out two pre approved credit card applications for $15,000 each to the wife and myself. We were a bit miffed as the last time they sent them out they were for $25,000 each, money must be getting tighter
These went into the shredder as well.......
Regards,
Tote