Welcome to Money Diaries, where we ask real people how they spend and save their money during a seven-day period, tracking every last dollar. Anyone can write a Money Diary! Want to see yours here? Here\u2019s how.<\/p>\n
Today: a communications specialist who makes $118,000 a year, confesses she is terrible with money, and buys a $450 Marc Jacobs bag for her mum.<\/p>\n
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On Money Diaries, a communications specialist who makes $118,000 a year and spends some of her money this week on a Marc Jacobs bag for her mum.<\/span>Credit: <\/span>Refinery29 Australia<\/cite><\/p>\n Occupation:<\/strong> Communications Specialist Rent: <\/strong>$1,680 for a one-bedroom apartment in Petersham that I live in by myself. It has an internal laundry and car space and is in an old inner west building. Gorgeous lighting, but there\u2019s construction next door, hence the cheap rent. I did a Bachelor of Communications (Journalism) and paid for via HECS.<\/p>\n My parents are terrible with money! They love going on holidays and back to their home country every year. I grew up going back to Vietnam for five weeks every year despite my parents not being well off. I am very much the same way now and spend what I don\u2019t have.<\/p>\n My first job was at McDonald\u2019s when I was 14. I wanted to buy shoes and go to the movies. I have always wanted to work because I think people who grew up in poor immigrant homes where they couldn\u2019t buy nice things, want to grow up and spend their money on whatever they want. I think we develop horrible spending habits because we never got anything when we were younger.<\/p>\n Not really. My parents didn\u2019t make a lot, but we always managed. They also always took holidays, so I just figured we were fine. I was very aware that we weren\u2019t rich, but I wasn\u2019t aware of how okay my parents were about living in debt.<\/p>\n Yes, because I\u2019m terrible with it and my life circumstances have been crazy in the past three years. Moving overseas, being stuck overseas during COVID-19, flying back (which cost me nearly $10,000 alone), quarantine fees (that\u2019s another $2,500), a horrible break up where I lost all my shared possessions and had to start again, being a maid of honour throwing really expensive bachelorette parties in the middle of all that, and a manic New York City trip because I\u2019m reckless! I hope I can recover by the end of this year. I WILL! I can\u2019t keep spending to make myself feel happy for a moment.<\/p>\n I became financially responsible for myself at 22 and I\u2019d say I have a financial safety net because I know my parents will always help me, even if they have very little. I have always had good jobs because I have always been good at school and work. Even though I\u2019m in a bad situation now, my paycheques are very good and I don\u2019t rely on other people. It\u2019s just a me problem!<\/p>\n No, I wish!<\/p>\n 8:20am<\/strong> \u2014 Stayed at my parent\u2019s house last night because they got a new beagle puppy and I love him! I lost custody of my border collie after a bad break-up last year, so this is cheering me up.<\/p>\n 8:45am<\/strong> \u2014 Go downstairs to make a coffee with the Moka pot. No Vietnamese iced coffee this morning because it\u2019s too decadent!!! I had a phase where I was having three a day while staying at my parent\u2019s place.<\/p>\n 9:00am<\/strong> \u2014 Log on to my laptop to read work emails and start the day. Make some miso soup for my breakfast.<\/p>\n 10:00am<\/strong> \u2014 Weekly morning WIP with the team where we run through our tasks for the week. I don\u2019t have my contacts in, so I\u2019m wearing my chunky glasses and everything on my laptop is reflecting back.<\/p>\n 12:00pm<\/strong> \u2014 Lazily answer emails for two hours before I take the puppy for a walk before lunch. He goes nuts because he just realised he enjoys walking after spending a while being scared to leave the house.<\/p>\n 12:30pm<\/strong> \u2014 Have some B\u00fan b\u00f2 Hu\u1ebf for lunch that my mum made. Mmmmmm. Love that for me.<\/p>\n 1:00pm<\/strong> \u2014 Say goodbye to everyone (and the puppy) and drive back to Petersham. I have a dinner tonight in Newtown and have work tomorrow, so I can\u2019t stay in the suburbs.<\/p>\n 1:30pm<\/strong> \u2014 Make it back to my apartment and work from my couch for the rest of the day. I text my boyfriend, M., throughout the day. I forgot to mention him before, but yes, he exists.<\/p>\n 6:00pm<\/strong> \u2014 Promised my friend, A., that I\u2019d teach her how to drive, so we\u2019re meeting up every Monday night before she takes her driving test. I drive two minutes to her house and we do a little practice before our friend F.\u2018s birthday dinner.<\/p>\n 7:40pm<\/strong> \u2014 Get to the teppanyaki restaurant in Newtown. Twelve of us are here! This is not a place for introverts! There\u2019s a lot of yelling, throwing, mess, and laughter. $46<\/strong><\/p>\n 10:30pm<\/strong> \u2014 Drive back to F.\u2018s house so we can cut the heart-shaped birthday cake that her girlfriend baked her.<\/p>\n 11:00pm<\/strong> \u2014 Go home. Shower. Collapse. Text M. about teppanyaki and send him pictures of the cake.<\/p>\n Daily Total: $46<\/strong><\/p>\n 7:10am<\/strong> \u2014 Today is an office day so I get up earlier. I had bad dreams last night about my ex, J. I found out that my friend A. saw him walking with his new Asian girlfriend and they were walking my border collie. I say \u201cmy\u201d because he was mine. I bought him alone when I was 21, but J. had formed a strong attachment with him. One of the reasons why we broke up (and why I am broke) is because we did long distance for a year while I lived in Paris, which was a major dream of mine. But we weren\u2019t aligned. He took care of the dog while I was away. When I came back from Paris, everything imploded further. I now have zero money because I had to fly back during COVID. Yep!<\/p>\n 7:30am<\/strong> \u2014 Email my therapist to set up a session. I\u2019m bothered by the info about J. dating another Asian girl after me. I\u2019m Asian, his ex before me was Asian, his new girlfriend is Asian. Plus, the sighting of my old dog is triggering me. I miss my dog a lot.<\/p>\n 8:00am<\/strong> \u2014 Do my make-up. Pack a banana and yoghurt to eat at work. Make a Nespresso pod coffee in my Huskee cup to drink on the drive to the office.<\/p>\n 8:30pm<\/strong> \u2014 M. texts me and asks me to come over tonight after my French class, saying he\u2019ll make me eggplant pasta for dinner. I think about my morning and realise I am so happy to be with M. I feel like, for the first time, I\u2019m with someone who is actually compatible with me.<\/p>\n 9:00am<\/strong> \u2014 Takes me an hour to get to work because it\u2019s all the way in Macquarie Park. Set up at my hot desk and get a coffee with my colleague, K. I pay for both. $10.50<\/strong><\/p>\n 12:00pm<\/strong> \u2014 After working on some presentations this morning, I\u2019m starving. Go to the shopping centre to buy lunch. I get a spicy wonton soup. $14<\/strong><\/p>\n 12:30pm<\/strong> \u2014 Still hungry, lol. I go to Woolies and buy chicken fingers. I also buy two bundles of bok choy and oatmeal because I\u2019m out. $12<\/strong><\/p>\n 1:30pm<\/strong> \u2014 Look at my bank account and I hate it here. I have never bounced back since I came back from Paris a year and a half ago. I had to pay for expensive government flights home, as well as quarantine. Then I had my major break up and had to rent an apartment and furnish everything from scratch. In between, I also went on a gigantic trip to New York City and Montreal because I was sad. Put everything on my credit card. Damn.<\/p>\n 5:30pm<\/strong> \u2014 Leave work so I can make it back home in time for my online French class. I\u2019ve been taking it for four years now, every Tuesday night. I even took the class while I was living overseas!<\/p>\n 8:10pm<\/strong> \u2014 Class runs late. Rush to M.\u2018s place in Glebe. I spend half my time here. Most weekends, actually.<\/p>\n 8:30pm<\/strong> \u2014 Eat the delicious pasta he made. He always cooks for me.<\/p>\n 9:30pm<\/strong> \u2014 We go to bed, cuddle and watch an episode of BEEF<\/em>. I tell him about what\u2019s been happening in my mind about J. He\u2019s always understanding in general but particularly gets how I think.<\/p>\n 10:00pm<\/strong> \u2014 We both fall asleep. I have my period too, so I\u2019m indeed TIRED.<\/p>\n Daily Total: $36.50<\/strong><\/p>\n 5:30am<\/strong> \u2014 I hear M. wake up. He always wakes up super early. I can hear him turning on the TV in the living room to watch soccer. He leaves me so I can sleep a bit more.<\/p>\n 6:00am<\/strong> \u2014 I wake up after a good solid eight hours of sleep. See a text from my phone from another ex of mine, E. He\u2019s texting me about how he\u2019s in Brittany and there\u2019s a painting that reminds him of The Tudors<\/em>. We watched that show together. I don\u2019t wanna talk about this relationship, lol. I had a messy few years. Anyway, ignore me. I shout \u201chello\u201d so M. can hear me and ask him to come into the bedroom. To be clear, M. knows about everything in my life, including my messy era.<\/p>\n 6:14am<\/strong> \u2014 Tell M. that I have a headache. He rubs my head a bit and then makes me a coffee. He makes me one every morning and brings it to me in bed when I sleep over.<\/p>\n 7:00am<\/strong> \u2014 We cuddle a bit and then M. lays out some yoghurt and fruit for me in the kitchen. He knows what I like for breakfast before work. He makes a toastie for himself.<\/p>\n 7:30am<\/strong> \u2014 M. irons his work clothes and my shirt so I can wear them to work. We both head into the office. He\u2019s packed me lunch and even put a fork in my bag. We\u2019ll see each other later because he needs to borrow my car to go to soccer practice.<\/p>\n 8:30am<\/strong> \u2014 Get to the office. I have a big presentation this morning. Get a coffee before I sit at my desk. $5.30<\/strong><\/p>\n 10:30am<\/strong> \u2014 Do my presentation. I\u2019m always nervous, but I like the responsibility.<\/p>\n 12:10pm<\/strong> \u2014 Heat up the lunch M. packed and eat it at the food court because I hate interacting with people in the lunchroom.<\/p>\n 12:50pm<\/strong> \u2014 Get a matcha latte at Starbucks because I spend money for no reason and like warm beverages. $6<\/strong><\/p>\n 5:10pm<\/strong> \u2014 Drive home. It\u2019ll take an hour to get back to mine. Stop to fill up petrol. $40<\/strong><\/p>\n 6:15pm<\/strong> \u2014 Park my car and see M. waiting in the car park of my place. We kiss and I give him the keys so he can drive the car to soccer.<\/p>\n 6:30pm<\/strong> \u2014 Make myself dinner. Dumplings with rice and steamed bok choy in chilli oil. I did a big grocery shop last week, so have a lot of food to cook with this week.<\/p>\n 8:30pm<\/strong> \u2014 Watch some episodes of Morning Wars<\/em> on Apple TV (I have a free trial). M. texts me that he\u2019ll drop off the car after he has dinner at his mum\u2019s.<\/p>\n 10:00pm<\/strong> \u2014 M. knocks on my door. He gives me a kiss and we catch up about how his game went and how his mum is doing. I drive him home to Glebe and then go back to mine. I need to go to my parent\u2019s house tomorrow, so I prefer to sleep at mine tonight.<\/p>\n 11:30pm<\/strong> \u2014 Fall asleep after TikToking and scrolling on my phone.<\/p>\n Daily Total: $51.30<\/strong><\/p>\n 7:30am<\/strong> \u2014 Wake up before my alarm because of the construction work next door. Scroll on my phone for an hour.<\/p>\n 8:30am<\/strong> \u2014 Roll out of bed and make myself a coffee and miso for breakfast.<\/p>\n 9:00am<\/strong> \u2014 Work from my bed all morning because I\u2019m extra lazy today.<\/p>\n 12:00pm<\/strong> \u2014 I make a kale salad for lunch because I bought a gigantic bunch last week that needs to be used. Then I head to my parent\u2019s place. I\u2019m meeting with a friend who is visiting from Melbourne tonight, and she\u2019s staying at her parent\u2019s place which is close to my parent\u2019s.<\/p>\n 1:30pm<\/strong> \u2014 Get to my parent\u2019s. Beagle puppy freaks out!<\/p>\n 3:00pm<\/strong> \u2014 Worked for a bit, then browse The Iconic for Mother\u2019s Day gifts for my mum and grandma. I have no money actually, so I\u2019ll have to Afterpay this. Feels bad to go into more debt. I can\u2019t get out of the cycle. There are always expenses. Buy Mum a Marc Jacobs bag and Grandma a Giorgio Armani perfume ($450). Tell my brother that we can say it\u2019s from both of us. He\u2019s eight years younger than me and only an intern. I don\u2019t make him split it with me. $450<\/strong><\/p>\n 5:20pm<\/strong> \u2014 Head to my friend D.\u2018s house to pick her up. We\u2019re going to hot pot in Canley Vale tonight. Yessss.<\/p>\n 6:00pm<\/strong> \u2014 D. and I catch up over all-you-can-eat hot pot. Also, I was D.\u2019s maid of honour last December, which also cost me a lot of money (never-ending expenses!). She\u2019s also Asian, so we discuss the news of my sighting my ex with his new Asian girlfriend. She confirms it\u2019s weird and uncomfy. One is fine, two is maybe okay, three is weird! $45<\/strong><\/p>\n
Industry:<\/strong> Consumer Electronics
Age:<\/strong> 27
Location:<\/strong> Petersham, Sydney
Salary:<\/strong> $118,000 + a $10,000 bonus
Net Worth:<\/strong> $28,200 ($45,000 in superannuation and $200 in savings \u2014 I\u2019ll explain!)
Debt:<\/strong> $4,000 in credit card debt and $13,000 in HECS debt.
Paycheque Amount (Monthly):<\/strong> $6,444.33
Pronouns:<\/strong> She\/her<\/p>\nMonthly Expenses<\/h3>\n
Private Health Insurance: <\/strong>$144
Electricity: <\/strong>$70
Internet: <\/strong>$75
HECS Debt: <\/strong>$800
Car Payment: <\/strong>$200
Credit Card Debt: <\/strong>I put whatever money I have left over towards my credit card debt.
Binge: <\/strong>$10
Petrol: <\/strong>$200
Groceries: <\/strong>$400
French Classes: <\/strong>$520 every two months
Savings Contributions:<\/strong> $0 currently as I\u2019m putting anything extra towards my credit card debt right now. \ud83d\ude41<\/p>\nDid you participate in any form of higher education? If yes, how did you pay for it?<\/h3>\n
Growing up, what kind of conversations did you have about money? Did your parent\/guardian(s) educate you about finances?<\/h3>\n
What was your first job and why did you get it?<\/h3>\n
Did you worry about money growing up?<\/h3>\n
Do you worry about money now?<\/h3>\n
At what age did you become financially responsible for yourself and do you have a financial safety net?<\/h3>\n
Do you or have you ever received passive or inherited income? If yes, please explain.<\/h3>\n
Day 1<\/h3>\n
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Day 3<\/h3>\n
Day 4<\/h3>\n