When it comes to finances, we may be getting slightly better at talking about things like investments, savings and salaries with our friends, but how many times has a pal shared the exact dollar value sitting in their bank account?
Our bet: Zero times.
But that is all about to change. Because the Mamamia Money Survey has opened up that can of worms in a big way.
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Yep, we asked women how much they have in their savings account right this very second, and they shared. Totally candid anonymous amounts, paired with a little intel on their income, debts and lifestyle so we can piece together a pretty complete picture of where they stand financially.
Here's what they had to say.
How much money do you have in savings?
A 33-year-old lawyer working in the resources industry earning $111,000 per year, currently has $90,000 sitting in her savings. She is living in a share house and tries to add $2,000 into her savings each month, but she's also paying off her remaining $14,000 of HECS/HELP debt.
A 20-year-old assistant working in the media industry earning $55,000 per year, currently has $8,222 sitting in her savings. She admits that she probably spends too much on nights out and should commit more to chipping away at her $73,657 of HECS/HELP debt.
A 33-year-old administrator working in the mining industry earning $82,000 per year, currently has $4,000 sitting in her savings. She puts $200 a month into savings and invested $10,000 into stocks when she was just 20 years old.
A 29-year-old tax accountant working part-time in the accounting industry earning $36,700 per year, currently has $60,000 sitting in her savings. Her biggest splurge to date has been $46,000 on a new car.
A 38-year-old manager working in the education industry earning $170,000 per year, currently has $150,000 sitting in her savings. She usually puts about $4,000 into savings each month, has no debt and her biggest purchase was her wedding dress for $1,500.
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A 33-year-old healthcare professional working in the resources industry earning $250,000 per year, currently has $1.6 million sitting in her savings. She puts at least $10,000 away in savings each month, and ironically that's the same amount of money she spent on her biggest purchase: A Rolex watch.
A 32-year-old roster co-ordinator working in the healthcare industry earning $59,000 per year, currently has $0 sitting in her savings. She says, "I would like to buy a fireplace but I keep spending my savings".
A 33-year-old legal counsel working in the education industry earning $280,000 per year, currently has $500,000 sitting in her savings. She adds $8,000 into her savings each and every month.
A 46-year-old hospitality worker earns $70,000 per year, currently has $70,000 sitting in her savings. She tries to contribute $3,000 per month to her savings, and proudly spends no money on subscriptions like Netflix or Spotify.
A 43-year-old teacher working in the education industry earning $101,000 per year, currently has $7,000 sitting in her savings. She tries to put aside $1,200 a month to savings, and has $5,000 in ZipPay debt for a recent solar panel purchase.
A 48-year-old unemployed woman earning $24,000 per year from disability support benefits, currently has $2,000 sitting in her savings. She tries to put aside $100 a month to savings, and has no debt to her name.
A 42-year-old executive producer working in the TV industry earning $231,000 per year, currently has $35,000 sitting in her savings. She tries to put aside $1,000 a month to savings, and is currently paying off a car on finance with $11,000 left to go.
A 34-year-old psychologist working for the government earns $110,000 per year, currently has $48,000 sitting in her savings. She tries to put up to $2,000 aside a month for savings, and has $25,000 in credit card debt. She says she's been able to save more during the pandemic and is on par financially with her friends at the moment.
A 32-year-old lawyer earns $220,000 per year, currently has $200,000 sitting in her savings. She tries to put up to $5,000 aside a month for savings, has $1,000 invested in stocks and reckons she spends $800 a month on clothes.
A 30-year-old stablehand working in the horse racing industry earns $53,000 per year, currently has $13,000 sitting in her savings. She tries to put up to $500 aside a month for savings, but is trying to spend less money on beauty treatments.
A 42-year-old community support worker in the disability sector earns $43,000 per year, currently has $115,000 sitting in her savings. She tries to put up to $1,500 aside a month for savings, has $7,000 in Afterpay and HECS/HELP debt and believes disability workers are underpaid for what they do.
A 28-year-old accountant in the defence sector earns $87,000 per year, currently has $2,000 sitting in her savings. She tries to put up to $100 aside a month for savings, but is struggling to pay off $400,000 in Afterpay, credit card and HECS/HELP debt.
A 30-year-old doctor earns $130,000 per year, currently has $70,000 sitting in her savings. She tries to put up to $2,000 aside a month for savings, but says her friends are much better with money than she is.
A 28-year-old café manager earns $53,690 per year, currently has $2,000 sitting in her savings. She tries to put up to $1,200 aside a month for savings, and spends $440 per month on her gym membership.
A 27-year-old nurse earns $98,690 per year, currently has $18,000 sitting in her savings. She tries to put up to $1,500 aside a month for savings, and only spends $20 a month on clothes and beauty products.
A 41-year-old account manager working in marketing earns $35,000 per year, currently has $25,000 sitting in her savings. She tries to put up to $200 aside a month for savings, and reckons she spends $250 every month on takeout.
A 34-year-old full-time mum earns $12,000 per year, currently has $160,000 sitting in her savings. She invested $15,000 into stocks a couple of years back and has $3,000 left to pay off her HECS/HELP debt.
A 32-year-old co-ordinator of a youth ministry earns $92,157 per year, currently has $150 sitting in her savings. She tries to put up to $400 aside a month for savings, but has over $37,500 in credit card debt to pay off first.
A 31-year-old dentist earns $280,000 per year, currently has $220,000 sitting in her savings. She tries to put up to $8,000 aside a month for savings, and her first full-time job out of uni had a $180,000 salary.
A 28-year-old hairdresser earns $26,000 per year, currently has $4,500 sitting in her savings. She has $660 in Afterpay debt and thinks that hairdressers are seriously underpaid.
A 49-year-old dairy farmer earns $60,000 per year, currently has $10,000 sitting in her savings. She tries to put up to $1,000 aside a month for savings and hopes to pay off her farm as soon as she pays off her $2,000 credit card debt.
A 34-year-old photographer earns $74,000 per year, currently has $70,000 sitting in her savings. She tries to put up to $2,000 aside a month for savings and has $24,000 in HECS/HELP debt.
A 44-year-old self-employed woman working in the finance sector earns $27,000 per year, currently has $60,000 sitting in her savings. She doesn't commit to adding to her savings each month, as she's still paying off her $2,000 in credit card debt.
A 44-year-old part-time veterinarian earns $26,000 per year, currently has $280,000 sitting in her offset account. She has a mortgage of $1.5 million and if she could give one piece of financial advice it would be this: "Find a job that pays well, [don't] just follow your dreams."
A 26-year-old chef earns $75,000 per year, currently has $3,000 sitting in her savings. She used to put $300 per week into savings, but says that she lost almost everything because of COVID and that has stunted her financially.
A 33-year-old librarian earns $82,000 per year, currently has $15,000 sitting in her savings. She tries to put up to $3,000 aside a month for savings as she's currently saving to start a family.
Do you have a money story you'd like to share with Mamamia? Be a part of our 'What My Salary Gets Me' or 'Debt Diaries' series by sending an email to submissions@mamamia.com.au.
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