Welcome to Money Diaries, where we tackle the ever-present taboo that is money. We ask real people how they spend their hard-earned money during a seven-day period — and we track every last penny.
Currency written in AUD
Occupation: Freelance Illustrator and Graphic Designer / Receptionist
Industry : Arts / Medical
Age: 24
Location : Melbourne, CBD
My Salary: I don’t have a salary, but I would estimate around $30,000 a year.
Net Worth: $27,972 total ($18,528 in savings, $942 in spending, $8,501 in super).
Debt: $25,249 HECS debt, I haven’t started to pay any of it back yet.
Paycheque Amount: My hours just got cut in half so now $540 a fortnight from my reception job, and anywhere between $1000—$3000 a month from freelancing.
Pronouns : She/Her Monthly Expenses
Rent: $977.50 a month with no utility costs. I live in a super cute two-bedroom apartment on the cusp of the CBD and Carlton, sharing with my BFF and housemate, T.
Spotify : $11.99
Phone bill: $45.16
Internet: $35 ($70 split between T. and I)
Binge: $10 (My current streaming service of choice — I’m making my way through the rest of Modern Family )
Shopify: $29 USD
Adobe Photoshop: $171 (I pay annually to save a bit of money)
Savings contribution: It was about $2,000 a month, but will likely go down now that my pay has been cut. Did you participate in any form of higher education? If yes, how did you pay for it?
I graduated with a Bachelor of Creative Industries in 2018. I’m yet to start paying off my HECS/HELP debt as I don’t earn enough. Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
When I was younger, I can’t remember having specific conversations about money. However, I knew it was earned with hard work, and what we had always felt like enough, even though it wasn’t a lot.
Since a young age, I’ve been a saver, not a spender. My parents encouraged me to get a part-time job when I was old enough and I started to save a lot of money — more than I have now! My dad specifically encouraged me to be a good saver and helped me set up my first bank account and super. Even now, he still asks how much I have in my savings account — he shook his head when it dipped below $5k last year.
My parents really wanted to see me go to university and get a proper full-time job. Even now, although I know they’re proud of me, I can tell I stress them out when I say I want to continue working freelance and juggling other jobs. What was your first job and why did you get it?
I started my first job when I was 15, washing dishes every Saturday at a fancy grocer and deli. I remember feeling very grown-up when I stamped my time card at the end of each shift. I wanted a job so I could start saving to go to Paris as part of a school trip for my French classes. I saved enough for the trip and plenty more, and before I left, my parents surprised me and almost doubled my earnings as a gift. Did you worry about money growing up?
I don’t remember ever feeling worried about money. We always had plenty of food in the fridge, got to go on nice holidays and I never felt as though I missed out on anything. Do you worry about money now?
I definitely worry a lot more about money now than I did in the past. Trying to ‘make it’ as an artist has meant that I’ve had some breaks between hospo jobs, and when my savings start to dwindle, I go running back to the first cafe job I can get. When I first moved to Melbourne, I spent four months trying to find a full-time job and my savings dropped from $12k to $4k.
However, I know I’m a hard worker and a good saver, so I don’t stress too much. My biggest worries are when I look to the future and panic because I don’t have enough in my super, or that I should be investing my savings. I’m definitely not as financially savvy as I’d like to be. At what age did you become financially responsible for yourself and do you have a financial […]
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