What Does It Actually Cost to Be You?

Let’s be real for a second. When was the last time you sat down and worked out what it actually costs to live your life? Not in vague guesses or wishful thinking, but in honest, real-world numbers?

At Creo Wealth, this is something we talk about all the time – because understanding what it costs to be you is the first step toward building a retirement plan that actually fits your lifestyle (and doesn’t have you surviving on two-minute noodles and broken dreams).

So, let’s break it down. Grab your brew of choice – yes, even that $5 oat latte you love – and let’s unpack what it costs to be you, both now and in retirement.

“How Much Do I Need to Retire?” – It’s Not a One-Size-Fits-All Answer

We get this question constantly: “How much do I need to retire?”

And our honest answer? “We don’t know.”

Not because we’re dodging the question. But because retirement isn’t a fixed number. It’s not one-size-fits-all. It depends entirely on your lifestyle, your goals, your coffee habits, your travel plans, in short, what it costs to be you.

Think about it – have you ever sat down and figured out how much your daily life actually costs?

Whatever you’re spending today gives you a pretty good clue about what you might need tomorrow.

Step One: Know Your Numbers (No, Your Memory Doesn’t Count)

Before you start planning your dream retirement, you need to know where your money is currently going.

Track it. All of it.

We know, the “B” word (budget) can feel a bit overwhelming, but honestly, call it whatever makes you feel better – a money map, spending tracker, financial truth bomb – the point is, it has to be done.

You can use:

• Your bank’s app (most have handy tracking tools built-in)
• A spreadsheet (ask us for ours – it’s free and easy to use!)
• A budget app
• Or good old pen and paper if you’re more analogue

You might be shocked at what turns up. Forgotten subscriptions, daily Uber Eats deliveries, three different streaming platforms no one watches… it all adds up.

Even small things, like a $5 coffee every day? That’s $150 a month. Over a year? That’s a short coastal break. Over ten years? That’s a flight to Europe and then some.

We’re not saying ditch all the fun stuff. We’re saying: make it a choice, not a habit.

Step Two: Future You Deserves a Plan Too

Let’s fast-forward a bit. You’re no longer working. The 6am alarm is gone. You’ve got time to travel, relax, garden, binge-watch shows guilt-free – but have you got the cash to fund it?

There’s a myth that you’ll automatically spend less in retirement. The truth? You might need more.

Here’s why:

• Health care costs tend to go up
• Travel becomes a bigger priority for many people
• Hobbies and downtime activities (which you finally have time for) aren’t always cheap
• You still have everyday bills: electricity, insurance, car rego, and if the mortgage isn’t paid off – that too

Unless your idea of retirement is yelling at neighbourhood kids from your front porch while eating your can of baked beans (no judgement!), you’re going to need a plan that aligns with your version of freedom.

Step Three: Start Now (Yesterday Would’ve Been Better, But Today Works)

The good news? You don’t need to have it all figured out today. You just need to start.

Here’s how:

1. Automate your savings – Pay yourself first. Set up a savings account you can’t easily access and start squirrelling money away.
2. Look at your super – Are you making additional contributions? Do you know what you’re entitled to contribute without hitting your cap limit? (This isn’t advice – just a prompt to look into it!)
3. Consider investing – Whether it’s with help from a financial planner (hi, that’s us!), or through platforms you research yourself, don’t let your money just sit there.
4. Tackle your debt – Credit cards, Afterpay, and ‘buy now, panic later’ plans can be silent killers for your budget. If you’re carrying high-interest debt, make a plan to get rid of it.
5. Have a ‘Holy you know what Fund’ – Life happens. Redundancy. Medical bills. Broken appliances. Aim for 3–6 months of expenses in an emergency fund – and guard it like Gollum with his precious.

Step Four: Be Intentional, Not Perfect

No one’s saying you have to give up everything you love. The takeaway here isn’t guilt. It’s awareness.

Be intentional with your spending. If your Friday night Thai takeaway is your weekly joy? Keep it. Just don’t let Uber Eats silently become your default dinner plan.

Ask yourself:

• Does this spending align with what I value?
• Is this helping or hurting future me?
• Can I make small changes now that will add up later?

This isn’t about perfection. It’s about giving yourself more choice later on. Freedom. Options. Peace of mind.

The Bottom Line

If you take one thing from this, let it be this:

✨ Know what it costs to be you – today, and tomorrow.

Track your spending. Plan for your future. Set aside a little now to avoid big stress later. And most importantly, live the life you want – just with your eyes wide open.

If you’re not sure where to start or need help with a budgeting spreadsheet (or want to chat about your ‘holy you know what fund’), reach out to us anytime at hello@creowealth.com.au.

You can also join Kylie in The Money Brew community – where we keep it real, have a laugh, and tackle money without the shame or snoozefest finance talk.

Because the cost of being you is worth figuring out.

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📌 This information is general advice. We have not considered your objectives, personal or financial circumstances. You should consider the appropriateness of the advice for your circumstances before making any decision.
 Creo Wealth Pty Ltd ABN 96 605 894 415 is a Corporate Authorised Representative (No. 1236172) of Matrix Planning Solutions Pty Limited ABN 45 087 470 200, AFS Licence No. 238256. Financial Services Guide

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