Big Time Savings With FIFO

December 11, 2018
By Chris Girardi

With costs of living rising rapidly - particularly in cities like Melbourne and Sydney - it can seem like you’re spending everything you earn just as quickly as it comes in. That’s why more and more Australians are turning to FIFO work to save on the costs of living, while putting their hard earned cash towards their savings goals - from holidays, to houses and much more!

Whether you’re looking to improve your work-life harmony, launch a global career or make the most of your time off, more and more people are turning to FIFO work to make the most of its hidden benefits.

One awesome benefit that may not immediately spring to mind however is the amount you can save when you take up FIFO work. Firstly, FIFO jobs are generally BETTER PAID  than most city jobs due to the time you have to spend on site. But the benefits keep getting better. When you live on site, your living expenses are also covered.

That means you get accommodation, cleaning services, meals and, at some sites, gym classes, golfing practice and more all for FREE, saving you on all sorts of things you’d normally have to pay for when you’re at home.

This calculator is an example of how much you can save each week on site by switching to FIFO work (assuming you don’t have a mortgage or a full time rental contract):

1 - Data from  https://abs.gov.au/household-expenditure  2 - Rent assumes cost of housing save for those who opt to not have full time rental contracts

1 - Data from https://abs.gov.au/household-expenditure
2 - Rent assumes cost of housing save for those who opt to not have full time rental contracts

The Takeaway

Obviously everyone’s situation is a little different. In some cases, if you have a full time rental contract, you may end up paying for rent in your home off-site, or a mortgage for your family home. But the amount you save in food, transport and utilities in one week is quite a substantial amount you can put towards housing payments or that dream holiday!

You might also find you spend less on transport if you take public transport to your current job every day rather than driving. In this case you save around $45/week, but also think about the amount of commute time you are cutting off each day to focus your free time on things for you! (Time is money, after all!)

And don’t forget about all of the frequent flyer miles and points that you will earn as you travel to and from site each roster. Besides the amazing benefits that status can earn you, (member’s lounge and upgrades anyone?) mileage accumulation can also mean free flights for you and your family to anywhere in the world. Some airlines even work with partner hotels, allowing you to redeem for free hotel nights as well! That’s money in your pocket while you take a holiday of a lifetime.

So, no matter how your personal savings fall out, you can rest assured that FIFO work will leave you with some extra cash in your pocket to put towards your next savings goal!

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Well, that sounds great! How can I get started?

We get it, you’re pretty excited to make a lifestyle change and start saving on your living costs. To help you get there, Paddl Co. is helping find FIFO chefs to work across Australia.

All you have to do is create your Paddl Profile and join our Paddl Hospitality and Food Service Facebook Group to be a part of a community that shares industry insights and awesome opportunities!