Sage-Tips

How much do you need to live in South Africa per month?

To answer the question – How much do you need to live comfortably in South Africa? You need about R15 000 – R20 000 per month to afford the basics.

What is the standard of living in South Africa?

The 2018 study found that a monthly income of around R7,000 per person is associated with a decent standard of living. This has now been updated using a special subset of the CPI and in 2020 amounts to R7,541 per person per month.

What is cost of living in South Africa?

What are general living expenses like in South Africa?

Total living expenses in Johannesburg⁵	Average cost
1 person, per month (without rent)	ZAR9,389.56
4 person family, per month (without rent)	ZAR32,914.84
Utilities, basic, for 85m² apartment	ZAR1,493

What is a good salary in South Africa?

According to these average wage indices reports, the employees’ basic salary/wages shot up from R646. 7 billion in March to R653. 9 billion in June 2021. According to the BankservAfrica Take-Home Pay Index (BTPI) for February 2021, the median wage of a South African resident is around R13,044 per month in 2021.

Does South Africa have good living conditions?

South Africa ranks close to the average in civic engagement. It is below average in the dimensions of income and wealth, jobs and earnings, housing, work-life balance, health status, education and skills, social connections, environmental quality, subjective well-being and personal security.

How much does a person need to live comfortably?

The median necessary living wage across the entire US is $67,690. The state with the lowest annual living wage is Mississippi, with $58,321. The state with the highest living wage is Hawaii, with $136,437.

What is the basic salary in South Africa?

Domestic workers are entitled to a minimum wage of R19. 09 per hour; Workers employed on an expanded public works programme are entitled to a minimum wage of R11. 93 per hour.

How much is a good salary in South Africa?

According to the BankservAfrica Take-Home Pay Index (BTPI) for February 2021, the median wage of a South African resident is around R13,044 per month in 2021. It means half of SA’s population earns less than R13,044.

How much is a loaf of bread in SA 2021?

Summary of cost of living in South Africa

Food
0.5 l (16 oz) domestic beer in the supermarket	R 21
1 bottle of red table wine, good quality	R 85
2 liters of coca-cola	R 23
Bread for 2 people for 1 day	R 13

Is R2 million enough to retire in South Africa?

If you can live comfortably on R10,000 a month, then R2 million is enough for a decent retirement; but if you need R50,000 a month, then even R5 million will be too little. Having ‘enough’ means you can maintain the standard of living you are used to for the rest of your life.

How much money do I need to live comfortably in South Africa?

The amount you need depends on your life style, but I would think to live comfortably you would want about R40 000 per month, so about 8 million. Also 12\% return is an average, some years you will get 20\% and some years -10\%. No, I doubt it. Perhaps if you were very frugal, and even then it would be a scrape.

How much do you need to save to retire with R1 million?

“The table below shows that if you want to retire with an extra R1 million at age 65 and you start saving at age 25, you’ll need to save R180 per month,” he said. “If you want to end up with R1 million at age 65 but only start saving at age 45, however, you will need to put away a far greater amount – almost R1,400 per month.

What is the average disposable income in South Africa?

The average disposable income in South Africa is R156,206 per year, which is well below the OECD average of R439,120. In Mercer’s Quality of Living Survey 2018, three South African cities ranked in the top 100: Durban was ranked the highest (87 th), whilst Cape Town (94 th) and Johannesburg (95 th) were not far behind.