Prices are high, wages are low. It's a reality that countless Australians are grappling with right now. Interestingly, new data has revealed which salaries we think equate to living a nice, comfy existence, dependent on each capital city.
The new survey from Finder dished the details, the vast majority of Aussies feeling they need far, far more than what they're currently earning to feel comfortably wealthy. The survey found that the average Australian said feeling rich required an annual pay of $345,819. For context, the average annual income among the population is $72,753.
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Finder's senior writer for money, Rebecca Pike, says the current cost of living is playing a part in people's earnings expectations rising.
"With everything from soaring property prices to expensive energy bills, the average person now feels they need to earn a whole lot more to be wealthy," she tells Mamamia.
"For most of us, this just isn't attainable; but I think it really showcases the financial stress people are under. Wage growth hasn't kept up with inflation and so people feel that money isn't going as far as it once did."