The trick, if you ever do, is to ignore the way Aussies have it. It really is an acquired taste, and Aussies lather it on thick. But when first starting out, the best way to do it is to spread a large amount of butter (or margarine) on toast, and then over the top of that spread a very thin coating of Vegemite.

I use miso these days. It's a similar salty umami flavour to Vegemite. Miso and butter on toast is tasty.