finance

What My Salary Gets Me: A 24-year-old accountant on $70,000 a year, who spends $1500 a month on rent.

Mamamia’s What My Salary Gets Me asks Australians to record a week in their financial lives. Kind of like a sex diary but with money. So not like a sex diary at all. We still find out the best kept secrets though. We discover what women are really spending their hard-earned cash on. Nothing is too outrageous or too sacred. This week, a 24-year-old accountant shares her week.

Age: 24

Job: Accounting

Salary: $70,000

Housing: Renting by myself

Regular expenses (monthly):

Rent – $1499

Phone – $108

Transport – $148

F45 – $286

Classpass – $15

Utilities – $100

Internet – $60

Stan – $10

Netflix – $0 (perks of having the family login)

Savings: $900

Debt: HECS, around $30,000

Watch: Constance Hall gets honest about money. Post continues after video.

Wednesday – Day One:

I wake up and have a quick sachet of porridge for breakfast, race onto my train and realise I’d forgotten my work laptop at home. I race home and grab an almond latte at my local coffee shop ($5) while I get my laptop. I make a second almond latte at work with the office’s coffee machine. I have ingredients for ham and salad sandwich thins for lunch. I’m off to a friend’s place for a homemade pizza dinner so I bring the wine ($15) and a housewarming gift from H&M ($24.97). It’s late when we are finished, so I UberPool home ($5.97).

Daily total: $50.94

Thursday – Day Two:

I wake up a little late so I’m in a rush to get ready. I leave the house with a quick sachet of porridge and once at work, I make an almond latte and my porridge. The 11am hunger hits so I go to the Woolies down the road and get some Carmen’s oat slices and vege chips ($7.40). At lunch, I have my homemade ham and salad sandwich thins again and do a free 45 min yoga class downstairs. After work, I go to a Barre class booked on my ClassPass membership and have some roast veggies and tuna for dinner.

Daily total: $7.40

Friday – Day Three:

I stay over at my boyfriend’s house – as I shower he goes to the shops and gets me a breakfast juice and breakfast bar (spoilt), I pop on my casual Friday clothes and tram into the city. I have the last of my homemade ham and salad sandwich thins for lunch. We have drinks and snacks at work from 4pm onwards and I head home for a quiet Friday night in.

Daily total: $0

Saturday – Day Four:

I wake up early to get a train out to Emerald where my brother is living at the moment. I get an almond latte ($5) on the way. When we arrive we get some lunch at Proserpina Bakery ($10.50), another coffee ($4.40) and then head for a walk in the beautiful botanical gardens. On our way back we get a cup of tea and brownie ($10.50) in Emerald before he drops me at the train station.

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I then get back to my apartment and meet my boyfriend. We are going to his friend’s house for her birthday, so I get a bottle of red wine ($13) and we get Lanzhou noodles for dinner ($15.99). We head out to the birthday have a lovely evening and I Uber home ($6.74)

Daily total: $66.13

Sunday – Day Five:

I get up early to go to the Camberwell markets where I have arranged to do a stall with my friends. The finances here are a bit messy as there’s a lot of sharing of overheads, and some cash sales, but I essentially break-even which is a win – and had lots of fun.

After an exhausting morning, I get into my trackies and watch Netflix on the couch with a friend – we order UberEats from my account ($28.45 – hopefully he pays me back his half). My boyfriend then comes over and we head to Coles to pick up some dinner ingredients ($21.54).

Daily total: $31.99 when he pays me back

Monday – Day Six:

Back to the grind – I have my sachet of porridge for breakfast and a roast vege, feta and tuna salad for lunch. I have office coffee and decide to get an online printable pattern for a crossbody bag I want to sew ($4.58). In the evening I head to F45 and make pasta for dinner.

Daily total: $4.58

Tuesday – Day Seven:

More sachet porridge for breakfast and an almond latte ($4.80) on my way to work. I always use my keep cup, but only some cafes discount and the almond milk is always extra ☹. Roast vege, feta and tuna salad for lunch and I join my colleagues for dinner at Fonda ($21).

Daily total: $25.80

Weekly total: $186.84

Reflection: I’ve never necessarily been caught short of cash, however, I am not good at saving. I listened to Barefoot Investor’s audiobook last month and decided it was time to get on top of my savings.

This was the first week after pay day – which admittedly has previously been a week of luxury, spending like there is no tomorrow. I made a conscious effort to spend less and although I ate out a bit more than I would have liked however it was an improvement on my usual impulse spending.

Mamamia’s What My Salary Gets Me series drops every Thursday. Want to share a week in the life of your bank account with us (anonymously of course, no judgement here)? Send us your Money Diary to [email protected]

For more What My Salary Gets Me:

What My Salary Gets Me: A 29-year-old on $108,000 a year, with $455,000 in savings.

What My Salary Gets Me: The 36-year-old project manager who spent $3,795 in one week.

What My Salary Gets Me: A Sales Director on $120,000 a year, who refuses to cook.

What My Salary Gets Me: A 34-year-old on $21,400 a year, who has hardly any daily expenses.

What My Salary Gets Me: A 54-year-old community worker who lives in public housing.

What My Salary Gets Me: A part-time physiotherapist who spent almost $2000 in a day.

What My Salary Gets Me: An Executive Assistant on $70,000, who has a long-term money strategy.

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