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Pondering 2023

January 3rd, 2023 at 09:36 pm

Last year was a whirlwind. I moved to Australia with DW (who is an Aussie citizen), we bought a small place, and we both started new jobs. DW switched to contracting after 15 years of government service, so with that change came a large payraise. My pay is slightly higher than what I was making in the U.S., but I don't have as much time off because I'm not teaching. 

In 2023 we really need to update our plans to reflect our new income, expenses, and responsibilities. My goal so far is to sit with a financial planner to help us manage our money going forward. Taxes are very high out here, and with our jump in income, and no dependents, it will be even more brutal. I want an expert's advice on how to allocate our money most efficiently, as I have no idea about the Australian financial world. 

We haven't been doing anything special with our money this year, besides saving. Most of my money has been spent on travel, for my kids in university to stay with us during winter break. They fly back to the states tomorrow, I'm so sad. But we've had a wonderful visit with them, and I'm glad the girls have been able to enjoy some warm sun and beaches before heading back to the east coast winter. 

Posted in Uncategorized | 4 Comments »

4 Responses to “Pondering 2023”

  1. VS_ozgirl Says:
    January 3rd, 2023 at 11:01 pm 1672786894
    1672786894

    Glad to hear you’re both doing well in Australia! Please note that the Australian financial year ends on 30th June, so it’s advisable to find yourself a financial advisor very soon so that anything you implement you will get the benefit of between July-October this year (otherwise you’ll find that things will roll into the next financial year and you won’t receive anything from it until July-October next year).

  2. mumof2 Says:
    January 4th, 2023 at 01:41 am 1672796496
    1672796496

    Welcome to australia...yes our tax system is a bit different and our tax year ends june 30th...we also don't pay state and federal taxes and when you pay for thing you don't have to add the tax on at the register you pay what the tag says..so glad your children got to spend some time here on their "winter" break here in the summer...must have been weird to have a warm christmas

  3. rob62521 Says:
    January 7th, 2023 at 12:30 am 1673051401
    1673051401

    That's wonderful you are doing well in Australia. Sounds like you had some great family time too!

  4. MagicPenny Says:
    January 7th, 2023 at 11:27 pm 1673134072
    1673134072

    Thanks for the reminder about the tax year ending June 30. I do forget those little details!

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