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WELCOME TO HOW I Spend My Money, a series on The Journal that looks at how people in Ireland really handle their finances.
We’re asking readers to keep a record of how much they earn, what they save if anything, and what they’re spending their money on over the course of one week.
Are you a spender, a saver or a splurger? We’re looking for readers who will keep a money diary for a week. If you’re interested send a mail to money@thejournal.ie. We would love to hear from you.
Each money diary is submitted by readers just like you. When reading and commenting, bear in mind that their situation will not be relatable for everyone, it is simply an account of a week in their shoes, so let’s be kind.
Last time around, we heard from an accountant earning €73K details life and spending in Dublin. This week, a software manager living in Tipperary on €75K.
I am a 29-year-old software manager living in Tipperary with my girlfriend. I work remotely for a firm in Dublin and commute to Dublin once a week for an in-office day.
I also have a side job that I do in the evenings and on weekends. I am really interested in personal finance and keep an Excel budget that I update once per month, i.e. I am “one of those people”.
My main financial goal, having recently (in the last two years) become a homeowner, is to pay off my mortgage early by saving as much as I can. As this is a long-term goal, I’m trying to strike a balance between saving the pennies but also splashing out now on then on a nice holiday, gifts for family, etc.
Occupation: Software manager
Age: 29
Location: Tipperary
Salary: €75,000 gross per annum (€89,000 including side job)
Monthly pay (net): €4,083 (net of pension contribution)
Annual income from side job: €14,000 gross per annum. Net of circa €6,720 after tax so roughly €560 per month
Savings: €1,500 per month plus the majority of after-tax income from side job (total circa €1,900 per month on average)
Transport: €150 petrol (some weekly travel reimbursed by work)
Mortgage: €974 (overpaying on monthly repayments by 10%)
Electricity and bins: Circa €100 and €20
Phone and broadband bill: €10.99 and €35
Health insurance: €113
House alarm: €48
Serious illness and mortgage protection insurance: €25
Medical: €120 (DPS of €80 + €40 on average for doctor visits, consultants averaged out etc.)
Groceries: €300
Subscriptions: Netflix – €8.99
I use a lot of Revolut vaults to allocate out my monthly paycheck so I don’t lose the run of it. I also save monthly for bigger annual expenses such as;
Car insurance, servicing and tax: €110
House insurance: €25
Holidays/nights away: €200
Xmas spending on gifts, décor, nights out etc: €100
The balance not included above I spend on takeaways, Amazon stuff, unnecessary takeaway fancy coffee etc.
***
7.00 am: I work from home most of the week so the morning routine is fairly mundane. Up at 7 am, breakfast, coffee, enter computer password wrong twice, etc. I like starting work a little earlier at 7.30 am. It’s almost like the calm before the storm of emails and I feel I get a good chunk of actual work done rather than reacting to the fires that emerge throughout the day.
10.00 am: Work up to lunch involves various meetings and team updates, nothing hectic going on at the moment.
1.00 pm: I like to get out for a 2km walk at lunch (the route I usually do) and listen to music. No dog to walk, although my partner and I are considering getting one. I just have reservations about the days we are both out working for 8+ hours and the dog would be on its own all day. At lunch, I realise I am nearly out of coffee pods so I order more online (€71).
2.00 pm: Back to it after lunch for more of the same.
5.00 pm: Have an early finish. My partner is home at 6 pm and we go for a walk, catch up on the day’s events etc.
6.00 pm: I usually cook dinner. Today is pizza bagels with wedges, not as bad as you might think as we have low-calorie versions of the ingredients and homemade wedges with the right seasoning.
Today’s total: €71.00
7.00 am: More or less the same as yesterday, work from home with the usual routine and habits.
12.30 pm: At lunch, I head to the local start-up coffee shop. They are by no means cheap but don’t mind giving it to them as they are good local lads running it and I like to support them (€4.20).
4.00 pm: I work on my side job after an early finish at work. My main employer is aware I do this extra work so no issues there, but I did have to notify them upfront before starting it to ensure no conflicts etc. I work on my own initiative but have hard monthly deadlines for when a piece of work needs to be done. I work at my own pace so I do the majority of this at evenings and weekends. As we are going away this weekend, I am anxious to get a good chunk done. I am paid a few times a year for this based on output so the income is sparse and is all taxed at the top rate of 52%. It’s done through payroll so because I have no credits allocated against it, it’s 40% tax, 8% USC and 4% PRSI. Sometimes I don’t know why I bother doing it but, if I calculate out the hours I put in versus the amount I am paid, it works out OK. As I am paid by output the rate per hour varies but is decent even after 52% tax. I mainly do it to generate extra income to put towards holidays and the mortgage (I would say it’s a 20%/80% allocation split).
8.00 pm: Quiet evening after I finish: a quick walk, dinner, shower, Netflix etc.
Today’s total: €4.20
9.00 am: Payday! It always feels like forever coming around. Always a nice kickstart to the day. Work seems to go a little quicker these days.
1.00 pm: During lunch, I transfer out money to my Revolut vaults, savings accounts and investment account. Money earned on savings is small at 2%. My investment account is self-directed and I invest in the S&P 500 stock market index in America. The goal with the money in savings and investments is to eventually have enough to pay off the mortgage. I purchased the house in early 2021 for €282,000. It is a new build so economical (to an extent) to run and I got a contribution towards the deposit via Help to Buy. Admittedly I did get a gift from my parents of €10,000 to help me with the deposit. However, after getting everything over the line, I paid this back to them as I felt it was too much after all the years living at home, them putting me through school, college etc. I cleared this in early 2022. Since then, my goal is to save as much as I can (whilst also having a life) and pay off the house early. I project at the current rate I will have enough saved up to match the remaining balance on the loan by the end of Year 7 of the mortgage.
5.00 pm: I head down to Woodies before it closes to buy some draught excluders (€23). As the days are getting colder, we feel there’s a cold breeze in the front door and some windows, so we’re looking for a quick fix. I know they need to be properly adjusted but not bothered to get anyone in for the time being as I will probably be told they all need replacing or something like that (even though the house is only two years old!).
8.00 pm: I celebrate payday by treating myself and girlfriend to pizza and beers (€42).
Today’s total: €65.00, plus movement of funds into savings, vaults etc.
6.15 am: My weekly trip to the Big Shmoke. On the train for 7 am listening to podcasts and music to pass the time. I have time to grab some avocado toast and coffee before work (€14.80).
11.00 am: Good day in the office catching up with colleagues and grabbing multiple coffees. I pay for myself and my colleagues as someone else paid last week (€13).
1.00 pm: Work gets hectic in the afternoon so just have time to grab an overpriced pre-packed sandwich (€5.80) for lunch.
5.00 pm: Back on the train for 5 pm listening to music for the trip. The rest of the evening is spent putting up Halloween decorations and running to the shop to stock up for trick-or-treaters. My travel expenses will be reimbursed euro for euro by my employer so not counting them here.
Today’s total: €33.60
10.00 am: I’m on leave today as we are heading away for the weekend. Long drive ahead but it’s worth it.
3.30 pm: Check in. Expensive day today as the hotel charged the two-night stay up front (€1,156). I knew this expense was coming but that chunk of money for two nights still shocks me. That said, we do have a spa package, dinner, breakfast and we are in a suite so I guess it’s justified?! My girlfriend sends me half so the net cost to me is €578. Today is also the day the mortgage comes out of the account so big dip in the numbers on screen today!
6.30 pm: Dinner is delicious and we head out on the town for the rest of the night. We meet up with friends so rounds of beverages are had. My total spend for the night was €76.40.
Today’s total: €654.40
10.30 am: Hotel breakfast consists of multiple trips up to the buffet for a questionable assortment of bread, sausages and tiny orange juice glasses.
12.00 pm: Today is our spa day and it is well needed. I have numerous health issues (too many for my age) but a good massage is just what the doctor ordered.
4.00 pm: We head for a walk in the afternoon and grab some lunch which I pay for (€28.60). We like taking mini breaks as it really does recharge the batteries but we are doing this less and less due to the sheer cost of hotels in the big cities.
7.30 pm: Dinner is again had in the hotel and we have a few quiet drinks at the hotel bar (€32).
Today’s total: €60.60
12.00 pm: Check out. Today is travel home day and time to do the Sunday reset.
3.00 pm: The afternoon is spent cleaning, tidying, arguing about cleaning and tidying jobs etc.
6.00 pm: We head out to buy food for the week (my half is €52). We like to plan our meals for the week and stay somewhat healthy. We generally avoid junk food unless we have a good reason (like a Friday night) etc. We are both relatively health conscious but don’t get a whole pile of exercise in or go to the gym.
9.30 pm: Finish off with a late evening walk in the dark and an early night.
Today’s total: €52.00
***
What I learned –
I hope the automatic weapons are better secured than the TVs!
Aren’t they lucky the boys weren’t there when they broke in!!
Surely by going public and disclosing what was taken the Burglars now about the garda involvement in the premises. I hope the gardai now vacate the premises. To use a phrase used in many a film ” position compromised”.
When my house was broken into recently I was told that there was a good chance if I went to balbriggan or fairy house markets I would find my belongings I suggest they do the same see how that goes for ya….
This premises is probably one of many locations the ERU have. No firearms or confidential documents would have been left there, even in a lock up, if it was not going to be supervised. This is just a typical bandwagon story that sells papers and gives people a chance to give out.
3 tv’s were takin and I would be confident in sayin very little if anything else was!!! BOTTOM LINE, it makes a good headline for the papers….
They robbers might get a surprise when they go to use the remote.
Why don’t they take the gardai off shatters door and put them minding premises like this. Get your priorities right Callinan!
They stolen all the toilet seats too.
Even now, they have nothing to go on.
i will give them a good price for an alarm on the gaff might even do it for cash
I really dont understand why the stores werent on a 24 hour guard like the army stores?
It’s not an armoury, it’s a range & training facility. They don’t keep any kit or documents there so there’s no need for a guard on it.
Sure if the burglars now know its the operational headquarters for the guards they will tell any other criminals they know where it is.point being u might as well appeal for witnesses as the cat is out of the bag anyways.no point in not moving if the criminal fraternity know where it is.
If it was used for admin purposes you would hope that no sensitive information was taken. Tv’s aren’t a big deal but confidential files getting into the wrong hands could have major consequences…I wouldn’t want to be on a witness protection program knowing that this can happen so easily
Confidential files can get into anybody’s hands given that Gardai are apparently using their own laptops as they wish.
you mean in here as well
@brian daly, ‘apparently’ they use their own laptops eh? Care to elaborate?
Witness protection Irish style.
Move back to the UK where you have fammily and come home again for weddings or social occasions.Like Steve Collins does in Limerick.
Witness protection anywhere else.
You and your fammily disapper for good under new passports,IDs ,names and backstopped aliases.
You DO NOT ever ,never go back to your old haunts,habits or make contact with your old way of life or friends or kin. Costs lots of money and resources.
So much for security. That place should have been well secured and monitored. Are they telling us that there was no CCTV? That place should have been like Fort Knox – easy to get into, impossible to get out of. No doubt someone is going to get their butt kicked over this.
Why? Do you know what it was used for? What was in it?
Here in US giggling to myself reading this story. My US friends curious to know what’s it about. Too embarrassing to show them
Why is it embarrassing!? The article said it was a facility used by the specialist unit not its headquarters or operational base. It could be a firing range or self defence training area where the televisions were used for playback instruction or monitoring the process! As said before there were no firearms or sensitive documentation stored there and the location was most likely alarmed only with such low Garda numbers a response mightened have arrived in time to prevent the theft. This break-in is no different to any other break-in where its only the fact that the Gardai use it and don’t want attention drawn to it by giving out its location to the national media seeking assistance that makes it unusual! I doubt junkie burglars read the journal every day with their morning methadone so it’s not like they’d be back!
Not good to hear, but the Garda ERU have a number of secretive lock-ups around the country apparently. No firearms or weapons are stored in them, only at Garda Stations. The place will be forensically examined, so there’s a good chance these eejits will be caught!
If this is an april the 1st joke its in bad taste .Its not funny
And a day late..
If the public don’t know the location of the facility, the only way they can provide information is to have been one of the people who took part in a burglary between Sunday night and yesterday morning, where three flat-screen TVs were taken, somewhere within Ireland.
So in affect are the Gardaí asking the people who took part to hand themselves in?
Theyre not asking for the publics assistance
g why
Ah shur look, harmless auld craic in fairness.
slow news day was it journal.ie
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