Australians have been left divided over what salary would be comfortable enough to live on during the cost of living crisis.
Gold Coast woman Hannah Elliott, who works as an associate financial advisor, took to TikTok in November to ask how much was necessary to live well.
“I’m curious what you think is a good salary,” he asked.
‘What is a number that if you applied it to your salary you would say, “I’m happy with this, I don’t care if it never goes up again, this is a good salary?”‘
The question sparked fierce debate among hundreds of commentators.
‘Good’ $120k. Comfortable $80,000,” one person wrote.
“$280,000 would be good for me,” another person responded.
“$180,000 would be the ideal amount,” added a third.
Hannah Elliott (pictured), who works as an associate financial advisor, uploaded a video to TikTok in November to pose the subjective question to social media users.
Others shared how much they are paid at their current job and how their earnings impact their lifestyle.
“My partner earns $150,000 and has no degree or education after year 11… I’m a nurse and he earns a lot more but our combined income is ‘good,'” one person wrote.
“Right now I only make about $85,000 a year, which to me is not surprising considering my partner makes almost double that without any degree,” another person wrote.
‘I currently earn between $110,000 and $120,000 and, honestly, it’s hard for me to have money to have fun and at the same time have savings, good super and investments, that’s why I want more!’ a third intervened.
Some said it depends on factors such as interest rates, which affect the price of necessities like food and groceries, and people’s ability to pay off debts, such as student loans.
‘Cost of living inflation must be taken into account. Mine would have to be between $250,000 and $300,000,” one person wrote.
‘Pre-cash rate increases: $120,000. Now $250,000 adjusted for future inflation,” another person wrote.
“In today’s economy, $180,000, but planning for the future if it never went up again… $250,000 to accommodate the CPI (consumer price index) until the end of my working life,” added a third.
Hundreds of commenters shared how much they are paid at their current job and how their income impacts their lifestyle (pictured, a shopper in Sydney).
“$130,000, without HECS (Higher Education Contribution Plan), and that figure is adjusted for inflation.”
The Reserve Bank has raised interest rates 13 times since May 2022.
The cash rate held at 4.35 per cent for the ninth consecutive time after the RBA’s last meeting of the year on Tuesday.
Elliott said it’s difficult to come to a decisive conclusion about how much income reflects a “good” salary.
“I think there’s no right or wrong answer to what a ‘good’ income is; it definitely depends on the individual and their lifestyle,” he said. yahoo.
“There are many factors to consider, such as whether you have children, where you live and your health, to name just a few.”
Ms Elliott also uploaded another video and asked social media users to share what they do for work and how much they earn.
Financial comparison website Findr conducted a survey of 1,032 respondents and found Australians believed they needed to earn $345,815 to fund a prosperous lifestyle.
The average salary in Australia is $67,203 and the average salary for entry-level positions is $58,353, according to talent.com figures.