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 a product manager on on €141K living in Dublin. This Christmas Day, a communications manager on €69K living in Cork City.
I live in a Cork suburb with my husband and our one-year-old child. We bought a house here five years ago, having previously rented in the city. My office is in the city centre, but I primarily work from home which makes our week a lot easier.
My husband and I split our monthly costs evenly but he is better at saving than I am (he also earns more). While we have separate finances, we do have a joint savings account.
We got into the habit of saving while building up a deposit for our house and paying for our wedding and have continued to save since. We currently have €30K in our joint savings, and each of us has separate savings on top of that. We are trying to decide if we should invest money in our home, get an electric car, or do nothing and build up the pot further. Apart from our mortgage and car payment, we avoid taking out loans and make sure to save up until we can afford what we want instead.
I am quite an outgoing person, so I put a value on eating out, travelling and being active through sports and social events. This is also where I spend most of my money!
Occupation: Comms manager
Age: 33
Location: Cork City
Salary: €69,000 plus an annual bonus of up to 10%.
Monthly pay (net): €3,534 (after healthcare and pension deductions). I pay 7% of my salary into a pension and my employer matches my contributions with 10%.
Transport: €280 car payment, which is shared between my husband and I. Approx. €50 in petrol.
Mortgage: €607 (my half). We overpay by the maximum 10% allowed.
Creche: €812.50 (this will reduce by about €170 monthly from January 2023 when the universal subsidy increases)
Household bills: €147 (life, car and home) insurances and bins.
Phone bill: Covered by work
Health insurance: My work thankfully pays healthcare for our whole family. I only pay BIK tax.
Groceries: I estimate about €400 per month.
Cleaner: €40 (helps us every two weeks)
Subscriptions: €92 (Sky, Netflix, Spotify).
Joint savings: €250 (my share)
Own savings: Anything between €200 to 500, depending on the month. I keep a spreadsheet where I track my outgoings and set aside what I can when I am paid.
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5.30 am: The week starts with a sick child. I rearrange my meetings for the day and let my manager know I will be out for the morning.
9.15 am: We did a big shop yesterday, so I make myself some toast and tea while trying to get the baby to eat something. I then hang up the washing.
10.30 am: I bring the buggy for a walk to the local coffee shop. The library is closed, so instead we stop by a charity shop on the way where I buy a puzzle and two books (€2) to entertain junior while I drink my cappuccino (€3.55). On the way back I take out cash for a charity fundraiser in work (€40).
12.00 pm: Nap time means I get to do some work. I make a pancake stack for lunch as a sick day treat. By 3 pm my husband comes home and takes over, enabling me to catch up on work for a few hours.
5.45 pm: I generally try to make sure we have two meat-free days a week, and today is one of them. I prepare today’s dinner which is a goat’s cheese and red pepper quiche – a recipe from yesterday’s Times paper.
8.00 pm: Monday is tag night, so I leave the house to join my teammates. It’s a cold and crisp evening and I enjoy the run around. We lose the match but it’s the social element and the exercise that matters more to me.
9.30 pm: Home again. I jump in the shower, sit down with a cup of tea, and read a bit before turning the lights off.
Today’s total: €45.55
7.15 am: Rise and shine! Have breakfast, get dressed and cycle to créche for the drop off. I bought an electric bike and child seat on the Bike to Work Scheme last spring, which reduced the cost of the bike by about 50%. It’s by far the best thing I’ve bought in years as it (alongside working from home) has enabled us to get rid of our second car.
9.00 am: Back home I put on another load of washing and start today’s work.
12.45 pm: The sun is shining, so I hang out the wash and go for a walk for some fresh air before tucking into a leftover quiche for lunch. My godfather calls for a catch-up too – I make a mental note to go visit him soon.
5.00 pm: My husband did the collection from créche, and I finish up for the day. We watch a World Cup match, read stories, give the baby a bath and play before bedtime.
8.00 pm: We help each other make a curry with leftover meat from Sunday’s roast dinner and add in chickpeas to make it stretch so there’s enough for lunch tomorrow.
9.00 pm: I send a reminder to a builder due to get back to us with a quote for renovation works on our house and find a Christmas film on Netflix.
Today’s total: €0.00
6.50 am: Is it morning already? Groggy from being up a few times during the night, I stumble out of bed and commence the ‘get dressed battle’ with the baba – it feels like fighting an octopus! Say goodbye to husband and child as they head off in the car.
8.00 am: I make use of the quietness and do half an hour’s yoga, then make a pot of coffee and have a bowl of cereal before starting work at 8.30 am.
12.00 pm: I cycle down to collect an order from my local bread maker and have a chat with her for a while. €10 for a sourdough loaf and two cinnamon buns. I buy some butter to have with it (€1.19) and stop by the Credit Union to lodge the Child Benefit payment into our child’s savings account (€140). Back home, I shower and then return to work.
4.30 pm: My mum calls to coordinate Christmas presents. In my family, we always make a wish list to help the giver and to make sure we don’t end up with unwanted items. After agreeing on what to buy for my dad, I cycle to collect from créche.
7.00 pm: My husband is working late, so I begin dinner prep. This evening’s menu is a pasta dish with prawns, squid and a semi sundried tomato paste that an Italian stallholder in George’s St Arcade taught me years ago (his stall is sadly closed now… must see if I can buy the products somewhere online instead).
8.00 pm: After dinner, we relax with tea and the cinnamon buns while I watch an episode of Kleo before getting ready for bed.
10.30 pm: Zzzzz
Today’s total: €151.19
7.40 am: I never set an alarm anymore, relying on the baby to wake us instead. Today we all had a lie in, as it happened. I plan on going into the office today, so running a bit late. Get the baby dressed for créche, send him out the door with my husband. Dress myself, get on my bike, and cycle to work.
9.00 am: Arrive at the office and have breakfast in work which is a nice company perk. Normally I’d buy a coffee on the way in, but as I’m late, I make a cup of tea instead.
10.00 am: Check my bank account as I’ve been paid today. Transfer my half of the mortgage, bills and our joint savings (€672) and pay the monthly créche fee (€812.50). I bought flights last month and my credit card is also cleared with money I had already set aside (€360). Looking at my outgoings for this month (December is expensive!), I reckon I can save €300, so I move this amount into my personal savings account.
12.30 pm: Pop into the English Market to stock up on items for the weekend, add in lunch while there. Cheese, olives, veg and a salad set me back €18.22 in total.
4.30 pm: I drop off a present for the SVP Christmas giving tree then finish up for the day, cycle home and collect the baby. We make a baby bowl with what’s in the fridge.
7.00 pm: Heading out with a few friends this evening for dinner and drinks. My friend drives in and back, saving me transport costs. Wine, tapas and a tip add up to €35.
11.00 pm: Back home to a quiet house, I sneak into bed.
Today’s total: €1,537.72
7.15 am: My husband wakes me to say goodbye as he heads to the gym. I fall back asleep for a bit and stay in bed checking emails until I hear the chat from the cot. It’s a lovely morning, which is handy as it’s my turn for the créche drop. On the bike we go!
9.00 am: I have breakfast at my desk while I respond to a few emails that came overnight. Oats, raisins, chia and sunflower seeds, followed by coffee.
10.45 am: Ahead of my next call, I make a shopping list for dinner. Friday is normally our takeaway night but this evening we have guests staying over. I send my husband a text asking him to pick up wine and beer as he has the car. I’ll get the food on my lunch break.
12.45 pm: With a pang of guilt, I put a load of washing in the dryer. Normally I’d hang it up, but with people visiting I don’t want our laundry visible. Cycle to Aldi. Dinner for four and a few household items add up to €31.95. Drop a few bits to the local charity shop. Back home again, I make myself a toastie with some ham that’s due to be eaten.
2.00 pm: Spend the rest of the day checking in on campaigns we’re running, preparations for the week ahead, and the last unticked items on this week’s to do list.
7.00 pm: Our friends arrive. Goat’s cheese/fig starter, followed by spaghetti meatballs and a side salad. Never bought dessert, so I offer them their drink of choice instead. Spend the rest of the evening laughing till my face hurts.
11.00 pm: Lights out!
Today’s total: €31.95
8.15 am: A nice slow morning. My husband pops to the shop to buy breakfast items and the weekend papers and I quickly check for work related media coverage.
11.30 am: I put the baba down for a nap and use the peace to order a Christmas present online. The first search result is from Amazon. I opt for an Irish toy shop instead, paying a few more euros to shop local (€28.98). I then go for a short run.
1.30 pm: After a shower, I grab a banana and a pastry from the kitchen. We all head into the city centre to do some Christmas shopping. I use my office car park to save on parking costs.
5.30 pm: Only found one present. My husband usually pays for his family, and I sort mine. €17 spent, which will grow substantially over the coming weeks. I leave my husband to catch up with a friend and stop by Aldi on the way back (€5.55) for a plan B dinner in case my option A is turned down by the baby.
6.00 pm: Feeling peckish, I have the leftover salad from last night while the baby has leftover meatballs. I’ll have a proper dinner later with my husband when he’s back. I pour a glass from the leftover prosecco too.
9.00 pm: Steak and ginger noodles served. We watch a Christmas movie and then head off to bed.
Today’s total: €51.53
6.55 am: Awoken by a call from the cot. Chill in bed for a while all three before getting up for breakfast which today is scrambled eggs and toast. Based on the ingredients we already have in our fridge, we prepare a shopping list for the week ahead.
10.00 am: I make a risotto with leftover veg. I will freeze a few portions for the baby for busy weeks ahead.
12.00 pm: Head to Aldi for the “big shop”. My husband and I take turns paying, and this week it’s my round. We have been using Go Fresh since its launch in Ireland but have decided to skip the next two weeks. While the ready recipes and delivery to the door is super convenient, it does mean that we end up spending more on lunches out as there are no leftovers so overall, I feel a big shop and meal plan is more efficient and economic. The petrol light is flashing so I fill €20 in the car. This week’s shop comes to €84.79 which will do us until Friday.
3.00 pm: We’ve no plans today so decide to go into the city for a Christmas carol service. We find street parking which is free on a Sunday. On our way to the event, my husband gets us coffee in Cork Coffee Roasters.
7.00 pm: The baby is tucked in, and my husband cooks us dinner. Today’s menu is a roast chicken with all the trimmings. The leftover meat will be used for a meal during the week, lunches and baby bowls. We have a glass of wine with dinner and stay seated at the table chatting and listening to music together.
10.00 pm: We get an early night to start the week on a good footing.
Today’s total: €104.79
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What I learned –
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