How much are YOU spending per week? Aussies are shocked to see how a young project manager, 28, earning $100,000 budgets her salary – and there isn’t much left for fun
- Finance expert has broken down the budget of a 28-year-old project manager
- With her $100,000 salary she ends up having $1,082 leftover to add to ‘goals’
- Many were confused by how much insurance she was paying overall
- Others said it was unrealistic with hardly any money set aside for gifts or clothes
A finance expert targeting women has revealed how a 28-year-old project manager spends her $100,000 salary while living in Sydney, and it has shocked a number of Australians.
Smart Women Society shared an eye-opening TikTok video on Tuesday revealing how a middle of the range professional chooses to spend her hard earned cash.
After taxes, compulsory student loan payments and superannuation the anonymous woman was left with $5,297 a month, with her long term goals being to top up her ’emergency fund’ and save for a $3,000 holiday at the end of the year.
Her expenses each month total $4,215, with $2,200 spent on her mortgage, $400 on bills, $30 on her phone, $250 on transport and $140 on her health.
Smart Women Society shared an eye-opening TikTok video on Tuesday revealing how a middle of the range professional chooses to spend her hard earned cash
She also forks out $500 in groceries, $500 in insurance, $70 for internet and $25 for subscriptions, with an extra $100 given to charity at the end of the month.
The employee has no extra debts other than her $32,000 HECS bill which is automatically taken out before she’s given her pay packet each month.
At the end of the month she is left with $1,082, or $300 for her emergency fund, $400 for her holiday and $382 just for ‘fun’ activities.
Many of those who watched the video were astonished by her miniscule ‘fun’ money at the end of the month.
‘So you’re earning $100k but only have 400 bucks to yourself a month?’ One woman said.
‘You are making me feel so bad that I’m spending more than $300 each week on drinks since the lockdown was over… I think I should work from home again,’ said another.
Many of those who watched the video were astonished by her miniscule ‘fun’ money at the end of the month
A third added: ‘I’m not sure how smart it was to be paying that mortgage on $100,000’.
Others had advice for the young professional looking to get the most out of her budget.
‘I think she should also allocate some of that amount into investments each month, even if it’s a small amount to reap the rewards of compounding,’ said one woman.
‘That budget is not realistic. You haven’t included any money for general spending like gifts, hair cuts, medicine, dentist, new tires and clothes,’ said another.
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