Am I earning enough?

Question

Hi everybody,

just wondering....

I am 21 years old, earning $500 a week after tax. Am i earning good money for my age? Im a sectary/Data entry.

Ive finished school and haven't studied anything or have major experience in anything. Although I will study next year.

thank you :)

Answer 1

In general, if you income exceeds your outgo (i.e. expenses),

then you're all right.

If your take-home pay is $500/week, that means about $750 gross.

That comes to around $37500/year (pretax), $25000/year (after tax).

For a first job with no special training, that is not too bad,

as long as you're not in a high-cost area like New York City.

In the grand scheme of things, it's not a high salary, but it's well

above the poverty line (especially for one person - lots of families

have incomes in that range).  If you live modestly and budget

well you should be able to put something away each month.

Over the long run, you'll want to move up the ladder by acquiring

desirable skills, but I'd say you're off to a good start.

Answer 2

You are doing quite well enough with that. But you can do it much better if you are set out to learn few new things and increase your knowledge.

Good luck with your school next year

http://www.4minutemoney.com

Answer 3

I think that's okay for a p/time, not sure about full time though.

Probably you want to see salary surveys/advice, they have it on websites like mycareer.com.au or careerone.com.au (I am assuming you're in Australia)

http://www.careerone.com.au/jobs/job-sea...