Australians' salary expectations significantly exceed actual earnings

Australians believe they need to earn almost twice the average salary to live comfortably. According to a recent survey, the ideal salary is about $152,775. This figure is significantly higher than the average salary, which is around $78,567. Younger Australians, particularly Generation Z, have even higher expectations. They think an adequate salary should be about $177,212. This shift in salary expectations is largely due to rising housing prices and the high cost of living. In major cities like Sydney and Melbourne, housing is particularly expensive. Despite an average full-time salary of $102,742, many find it challenging to buy homes in these areas. The typical price for a house in major cities is now around $1 million. People in different age groups have varying views on what a good salary should be. For example, millennials believe a good income is about $152,402, while baby boomers think $126,938 is enough. Finder's expert, Sarah Megginson, points out that many Australians may need to rethink their spending habits. Simple changes, like cutting down on subscriptions or cooking at home, could help save money. Inflation continues to be a problem in Australia, especially for services. While the government has provided some relief on power bills, costs like insurance are still rising faster than general inflation. Megginson encourages everyone to compare prices and switch service providers to save money.