Freelance worker, 30, on a $46,800 salary reveals exactly how she spends her paycheck each week after her income was HALVED at the beginning of COVID-19
- A 30-year-old media professional who earns $46,800 shared her financial diary
- The woman said her income has halved since the beginning of COVID-19
- She has cut back her discretionary spending hugely too and upped her savings
- Nowt, the woman said she has $20k in savings and values having that much
A 30-year-old freelance media worker whose income has ‘more than halved’ since the onset of COVID-19 has offered a glimpse at her finances, and revealed how she spends her new $46,800 yearly salary.
The anonymous woman told Mamamia that she now receives just $900 each week, alongside $385 a week from her investment rental property.
However, she has to pay a monthly mortgage of $2,160, as well as shelling out $350 per month on the water and strata rates, and other regular financial commitments.
The 30-year-old and her partner have moved in with her parents rent-free to save some money.
A 30-year-old freelance media professional whose income has ‘more than halved’ since the onset of COVID-19 has offered a glimpse at her finances (stock image)
Where does the woman spend her money each month?
Rental property: $350 (water rates, strata etc)
Spending: $600 ($150 a week)
Health insurance: $154.70
Brow appointment: $80
When it comes to how she spends her cash, the media professional said she allows herself $150 spending money per week.
She spends the rest of her monthly income on her health insurance, gym membership, mortgage, phone and rental property bills, chiropractor and beauty appointments.
‘When my salary was impacted my partner took over our Netflix, Stan and Spotify accounts. He’s also been covering my half of a meal service that we share for weekly lunches,’ she told the publication.
This means that many of her weekday meals are free.
The woman said she makes savings by working from home on her laptop as much as possible, which means she buys far less cafe-bought coffee and meals.
‘We go through a sh*t ton of coffee being at home, but we use the Nespresso machine instead of getting café coffee so it’s saved us some cash there,’ she said.
She has also saved money by switching to a cheap gym that only costs around $13.50 per week.
If she needs extra exercise, the media professional said she just embraces something free like a walk in her local area.
The woman addressed how her attitude towards money has changed since the onset of the global pandemic, as she has completely changed her discretionary spending (stock image)
The woman addressed how her attitude towards money has changed since the onset of the global pandemic.
She said she has now ‘reined in’ her personal spending as much as possible, especially within the beauty treatment area.
‘Given my income has been so unpredictable, I’ve been putting a lot of my money into savings just in case I need to dip into it in an emergency,’ she said.
At present, she has $20,000 in savings – and said it’s the ‘most she has had in a while’.
‘After my experiences this year, it made me realise why it’s really important to have some money set aside and not spend every single cent,’ she said.
The woman said she knows she is ‘lucky’ because she has been able to live at home and therefore survive such a huge reduction in her income.
However, it has been a timely reminder to stop ‘mindlessly’ shopping and instead only buy herself items that bring her true joy.