Mamamia’s What My Salary Gets Me asks Australians to record a week in their financial lives. Kind of like a sex diary but with money. So not like a sex diary at all. We still find out the best kept secrets though. We discover what women are really spending their hard-earned cash on. Nothing is too outrageous or too sacred. This week a 40-year-old mum tells all.
Industry: Government (middle management).
Salary: $1,250 per week plus $250 child support.
In total: $1500 a week.
Housing: Single mum living in Inner City Brisbane with my three-year-old twins (who go to daycare four days a week). I was really lucky – my inheritance helped me buy me a house in Melbourne when I was in my early twenties and it made a huge profit when I sold it a few years ago. It’s the only reason I am in such a good financial position now as a single parent.
Regular expenses including annual costs on a weekly basis:
- Gym membership – $17
- Private Health Insurance – $51.50
- Home and Contents insurance – $15
- Groceries – $100
- Electricity – $25
- Water – $22
- Petrol – $30
- Gas – $5
- Car insurance – $9.50
- Car registration – $14
- Car service – $29
- Daycare – $250
- Mobile and internet – $25
- Mortgage – $400
Total costs per week: $993.
Savings: I have $60,000 in my offset account, and around $2000 in mojo.
Debt: I owe $82,000 on my mortgage. I’m paying interest on $22K. The aim is to pay the house off in two years if I pay $400 a week.
Assets: House worth $650,000.
Saturday June 8.
I take the kids out for breakfast with a friend which costs $58. This is not a common occurrence, often we do play dates at the park, but it’s my friends birthday.
I also let the kids buy a toy each at the shops for ($15) with their birthday money.
It’s my kid free night and I always try and be social which ends up being expensive.
I host the girls for a few pre-drinks (they bring booze) so I shout everyone Uber Eats sushi ($88).
I also buy a round of drinks for ($28) and pay for a cab ($14).
Gym membership comes out ($17).
Total amount spent: $220
Sunday June 9.
Rest day! I do some study (I’m studying at the moment in addition to full-time work) and buy the kids McDonalds for dinner ($12).