How poor are you?

Image of $2 coins

If you think you are doing it tough on $150K, think about the Aussies earning much less than 49 000.

We read a lot in the media about how a family on $150 000 a year in Australia is reported as ‘struggling’ to make ends meet – the new middle class poor.

Consider this.

Half the full-time workers in Australia earn less than $57 400 a year (in August 2011 according to Australian Bureau of Statistics). That’s almost 100 grand less than those struggling middle class poor on 150K.

If we add the 3.6 million part-time workers, half Australians in the workforce earn less than $46 900.

Here’s another interesting stat – only 62% of Australians over 15 had a job in April 2013 – that leaves 38% who are even worse off. All these people are trying to make ends meet on incredibly low incomes. An aged pensioner has to make do with something like $8000 a year (single rate).

Can you still say you are struggling on $150 000? If you are earning this, you’re in the top 5% of Australians so 95% of workers are doing it tougher than you.

For all those Australians living on very low incomes, I can’t imagine how they manage to pay rent, power, telephone and food bills.

So how poor are you?

As for Gina Reinhardt, don’t get me started. She’d have us all earning $2.00 a day. Let’s just stop listening to her rubbish.

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