Brunch, yoga and burritos: What an adviser on $110,000 spends in a week

This article originally appeared in Refinery29 Australia.

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This week on Money Diaries, an advisor impulse purchases a kneeling chair for her home office and attends a few Pilates sessions.Credit: Refinery29 Australia

Today, a strategy adviser impulse-purchases a kneeling chair for her home office, attends a few Pilates sessions and spends a Saturday with her “non-boyfriend”.

Occupation: Strategy adviser
Industry: Private industry
Age: 26
Location: Potts Point, Sydney
Salary: $110,000
Assets: $183,000 ($122,000 equity, $22,000 savings, $1000 in shares, and $38,000 in super)
Debt: $458,000 left on my mortgage
Paycheque amount (fortnightly): $3,221
Pronouns: She/her

Monthly Expenses

Mortgage: $2688 for my mortgage repayments on my one-bedroom apartment. I bought my apartment with the help of a down payment from my parents. Without their help, I would not have been able to buy solo. I live alone and cover the repayments, bills, strata, etc. alone.
Therapy: $360. I do fortnightly therapy sessions. It’s a pricey recurring expense, but I get a lot of value out of it, and I find the accumulation of continuing to go makes a big difference, rather than necessarily just what you get out of an individual session.
Internet: $54
Electricity & gas: $80
ClassPass: $50
Health insurance: $49
Streaming services: $21
Voluntary repayments: $100. I put a little extra into my mortgage each month. It’s not much, but anything to see that interest percentage go down.
Savings Contributions: $1000

Did you participate in any form of higher education? If yes, how did you pay for it?

I did a Bachelor of International Relations through HECS.

Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?

We grew up without much money, and money was a constant topic of fights between my parents. I was hyper-aware of how stressful our finances were from a young age, which probably influenced my strong saving habits.

As I’ve always been pretty good with savings, I don’t think my parents felt the need to give me much financial instruction. Our family finances were very different as I became a young adult (marrying rich really works) and I still feel like I don’t fully understand or appreciate the position my parents are in now.

What was your first job and why did you get it?

I worked as a shop assistant in a local pharmacy — cleaning, stacking shelves, manning the till. I worked there from about 14 to 17 years old, and I got the job because it was the expectation in my family that you would work as soon as you could. As soon as I was old enough, my mum helped me write a resume (I cannot even imagine what I put on there at 14) and I handed it out to local businesses. The job was dull but having my own money was awesome. Also, I used the uniform to buy cigarettes underage.

Did you worry about money growing up?

I was lucky to never worry about meals or housing, but I think when you grow up without money, you learn not to ask for much.

My mum is great with money though, and even though I know things were super tight when my parents first got divorced, they ultimately improved even though we were all on just her income, because she had total control of the finances.

Do you worry about money now?

I worry about money more than I should, I think. The cost of living, a mortgage, and single-person living expenses after being in a long-term relationship for many years have meant I’ve felt a real reduction in my purchasing power. I’m still trying to balance my financial goals with liking really nice things.

At what age did you become financially responsible for yourself and do you have a financial safety net?

I lived with my parents all through high school and university and was 22 when I got my first full-time job and moved out of home. However, over the years I did spend time living with my partner’s mum, and then moved back with my parents after separating from my long-term partner (we lived together — messy!!!). I have a massive safety net. I received a lot of help buying my apartment, but it’s more the indirect things I’ve benefited from. Living with my parents throughout uni gave me more financial freedom, so I only needed to have a part-time job. Most of my income could go towards savings and travel, and I could comfortably take opportunities like going on exchange.

Do you or have you ever received passive or inherited income? If yes, please explain.

My parents very generously gave me about $80,000 for my down payment to help me reach the 20 per cent threshold. For passive income, I receive small dividends from my stock portfolio, around $10 a quarter.

Day 1

8am – I wake up, go on my phone for a bit, and then have my morning catch-up meeting with my team. It’s Friday, so it mostly consists of chat about weekend plans. I only physically exit my bed minutes before I have to start work, which means I maximise sleep, but consistently get told I look tired in morning meetings. A trade-off I am willing to make.

10am – I walk down to a nearby cafe and get an almond iced matcha. ($6) It’s a well-known place so it’s packed, even on a weekday. It’s excellent though, and a pretty good price in my opinion! It’s also one of the last places in the city I know of that has a $3.50 base coffee. $6

12.30pm – Lunch is leftover spring pasta with broad beans, spring onions, lemon, tuna, and orecchiette. I eat it cold because I don’t have a microwave and can’t be bothered to heat it up on the stove. Not having a microwave isn’t a stance on anything, it’s just my last one got infested by cockroaches so I think I’m done with them forever.

5pm – I log off work and head out to yoga. I just miss my first train and the second is delayed, so I am too late to make it to my class. The staff are super nice to me and let me reschedule for tomorrow, even though I booked through ClassPass and it was my fault for being late! I get the train home ($5.60), and pick up some Guzman for dinner on the walk back ($16.40). $22

7pm – I semi-impulse buy a kneeling chair ($238.60) online that I’ve been looking at for a while. My tiny desk stool isn’t cutting it any more. $238.60

8pm – I wash my hair, text a few friends, and watch some TV before turning in for the night.

Daily total: $266.60

Day 2

9am – I wake up and noodle around on my phone for a while. I get dressed in workout gear, have a caramelised fig yoghurt, and get the train to class.

11am – Back at yoga baby! I make sure to get here early this time. It’s a fancy place I haven’t been to before, and it’s a bit woo-woo, but it’s a good class and they have delicious free tea after.

1pm – I get the train back to mine ($5.60) and make some lunch. Beetroot and tofu buns with some seasoned steamed broccoli and cauliflower, some radish kimchi, and chilli oil over the buns. It was a damn good lunch if I’m being honest. I’m out of chocolate so I mix some peanut butter with some jam as a sad post-lunch sweet treat.

2pm – I spend a few hours lazing about on my phone, doing some jigsaw puzzles, and calling a friend.

5.30pm – I clean up and get changed to go to dinner with a friend. It’s a beautiful night so I walk into the city and we catch up over some Vietnamese food. I pay for dinner which is two meals and two beers ($51.77), and my friend pays for our bingsu after. $51.77

9pm – I walk home, have a shower, and head to bed.

Daily total: $57.37

Day 3

8am – I’m spending the day with my not-boyfriend today (please see above reference to the suspension of my long-term relationship). I’m 26, my love life is messy! He’s handsome! What else would you expect?

9.30am – He swings by my place and we chat for a bit before walking 20 minutes to a nearby cafe we both love. It’s still lovely despite being popularised on TikTok recently by the brunch girlies (sometimes gatekeeping is good). I order avocado and egg on toast, a sweet pancake, and an almond latte. ($42.63) Very delicious. $42.63

11.30am – We get a quick Uber down to the IMAX theatre to see Killers of the Flower Moon — he pays for the Uber and the tickets. The movie is really good but it does feel like a long 3½ hours.

4pm – We grab a Paloma and margarita at a nearby bar — he pays.

5pm – The day is so clear and bright and we are at Barangaroo staring at the water, so we decide to get on the ferry somewhere and figure out dinner. On the ferry, we settle on Indian in North Sydney, so we get off after only two stops ($5.60). Dinner is palak kale chaat and lamb biryani and it is so good. After much resistance from him, I cover us both ($52.80). $58.40

6:30pm – We leave to head back to our respective homes. I get on the train ($8.90) and he sends me really cool pictures of my street from the City of Sydney archives as I travel. $8.90

7pm – I arrive home and call my mum. I talk to her for a while, then have a shower and wind down for the evening. I’m pretty exhausted so I just spend some time on my phone and then head to bed.

Daily total: $109.93

Read the rest on Refinery29 Australia here.

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