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 retail manager in Dublin on €48K living at home with their parents to save money. This week, a social care manager on €58K in the east with family.
I currently live in the East with my husband and two children who are seven and 11. I like putting money away in savings even though the return rates are so poor: I like the feeling that there is a buffer in place in case it’s needed.
I put away €125 per week in savings, plus the €280 per month from the Child Benefit into the kids’ Credit Union accounts: we never touch this money. I have a credit card with a limit of €1,000 and I am a stickler for clearing it as I go. I hate borrowing.
At the moment, my only escape is a weekly sports class which costs €100 per six weeks, but I am looking forward to re-joining the gym, which will be €50/month. The way we organise the finances in our household is by putting between €500 and €550 each week into our joint account, and the mortgage, all children’s expenses, bills, groceries, car maintenance, petrol, etc, come out of that account.
Personal expenses, like hairdressing, personal phone bill, etc come out of our personal accounts. I also pay for the health insurance for the kids and I: we aim to put in €500 savings each into our shared savings every month. My pension, about €200/month comes out of my gross income.
Occupation: Social care manager
Age: 38
Location: East
Salary: €58,800
Monthly pay (net): €3,393
From my personal account:
To the joint account: €2,200
Phone bill: €30/month
Health insurance: €130 for the kids and myself
Hairdressing and nails: €150
Savings: €500
Trade union membership: €21
Sports class: €100 for 6 weeks
From our joint account:
Mortgage: €1,400
Childcare: €1,000
Transport: €300 in petrol
Household bills: €200
Groceries: €600
School contribution: €25
Broadband and TV: €98
Life insurance: €65
Any one-offs like children’s clothes, shoes: variable
Gymnastics classes: €340 for a full term (Sept-Dec) for two children.
Swimming classes: €270 for nine weeks for two children.
Other: Car insurance, house insurance, car tax are paid yearly.
6.30 am: Get up, shower, grab some breakfast: toast with smoked salmon and a cup of coffee. I make the kids’ lunches (wraps, fruit, some veg), wake them up, give them breakfast. Junior has the mother of all tantrums but we manage to be out the door at a decent enough time so we are not late for school at 9am.
9.20 am: I am sitting at my desk. I work straight until my belly rumbles during a meeting so I get lunch.
2.30 pm: Lunch today is the leftovers of yesterday’s dinner (fajita chicken and salad).
4.30 pm: I leave work, pick up the kids, we are home by 5.15 pm. I make dinner: hake, couscous with veg and a few oven chips.
6.30 pm: I need to join a virtual meeting, it’s over by 7.30 pm.
7.30 pm: Put Junior to bed, eldest does homework. I do a final check on my work emails and tidy a bit around. I put on a wash. I go to the local shop to get a few goodies that I can eat in peace: crisps and chocolate cost me €13.53. I do a bit of online banking, I put €550 into the joint account, €125 in savings and €50 into my credit card.
9.00 pm: I go to bed and read a book because I am officially middle-aged and this baby face needs her rest.
Today’s total: €688.53
6.30 am: Get up, shower and have breakfast: boiled egg on toast, orange juice and coffee. I make the kids’ lunches (wraps, fruit, yoghurt), wake them up, give them breakfast. Out the door at 8.30 am, 15 mins drive to school so they have some time to play a bit before they go in at 9 am.
9.20 am: I arrive at the office and I work until 1.30 pm.
1.30 pm: I have some lunch: soup that I bought during the weekly shop and toast.
4.30 pm: I leave work and pick up the kids.
5.15 pm: We are home and I make dinner which today is seafood pasta in homemade tomato sauce. I am reminded that “I haaaaate this dinner!!!!”. I re-examine my life choices.
6.30 pm: Homework, tidying up, playing and watching some TV.
8.00 pm: Kids in bed. I call a couple of friends who I haven’t seen in a while.
9.30 pm: I go to bed and read a book.
Today’s total: Sweet €0.00
6.30 am: Get up, have breakfast: toast and a coffee. I make the lunches, wake the kids up and give them breakfast. We are out the door as usual and in school with time to spare. Our mortgage is paid today, bye-bye to €1,400.
9.20 am: I arrive to work and realise one of the front tyres needs replacing badly: what a lovely Wednesday this is turning out to be. Road assist included in our motor insurance come and change the tyre so at least I can drive the car to the garage. No major disasters, I work until lunch.
1.30 pm: I have a small tin of baked beans and toast with some coffee.
4.30 pm: I leave work, drop the car to the garage for a new tyre to be fitted (€65). Pick up the kids.
5.30 pm: I take the children to gymnastics class (about €24 for both children, paid per term). They finish at 6.30 pm.
6.30 pm: My husband has started dinner, which is pork stir fry with veg. He will take the leftovers to work tomorrow for lunch.
7.30 pm: Kids in bed. I do some tidying up and watch some telly.
9.30 pm: Bed for me too!
Today’s total: €1,489.00
6.30 am: Get up, shower, have breakfast: today bran flakes and a cup of coffee, I make the kids’ lunches (wraps, fruit, yoghurt), wake them up, give them breakfast. Today we leave at 8.10 am as I am training in work and our childminder will drop the kids to school.
9.00 am: I am at work, training for the full day.
1.00 pm: Lunch is organised by work so I have some mixed sandwiches.
5.10 pm: I leave work and traffic is mental, so I am late collecting the kids.
6.30 pm: I put on the emergency pizzas in the oven and things are looking up.
7.00 pm: I go to my sports class, I finally get to do something active today.
9.30 pm: I watch some telly with my lobster and go to bed.
Today’s total: €0.00
(Technically my sports class is about €17/week – paid in blocks of six weeks)
6.30 am: Get up, shower, have breakfast: today chocolate cereal because after all, it’s Friday. Cup of coffee, I make the kids’ lunches (wraps, fruit, a cookie for good luck), wake them up, give them breakfast. Out the door at 8.30 am, 15 mins drive to school.
9.00 am: Kids in school. I pay childcare: €250 for the week. I go to the Post Office to pay some Customs charges, not 100% sure what they are for. €10.32 for one delivery and €12.60 for the other. I also send back two rain jackets for the kids that I got online but they don’t suit. Return is free. I am due back a €73 refund. I am working from home today, so I am ready to start at 9.30 am.
11.30 am: I take a break and make a bagel with bacon and egg and some coffee. This means I am sorted for lunch, so I work through until 4 pm.
4.00 pm: I skid out the door to pick up the children and take them to swimming classes. While I wait for the classes to finish, I spend €7.20 in snacks to share. Also, the school get in touch about a day camp: I book both kids in, so that’s another €100. After the swimming classes, I get some petrol: that’s €70 as the price has come down a bit, which will do me for seven days.
5.30 pm: I need to join an urgent call and complete some last-minute stuff before I finish for the week.
6.30 pm: It is officially the weekend! Doesn’t make much of a difference at the moment, but we live in hope. I make dinner, which today is turkey burgers and salad.
7.30 pm: I grudgingly share some of the goodies that I bought on Monday.
Today’s total: €450.12
9.30 am: Hairdressing appointment: I need to cut my hair today, so more expensive than just the usual colour and blow dry: it came to €101.
11.45 am: I get my nails done, they should be ok for three weeks: €45.
1.00 pm: I get some bits we are missing for a fry in the local shop: €11.21. This makes lunch for the four of us.
2.00 pm: I need to get a basket for the firewood: €26 in the local garden centre. I also take the kids to the shop to get some decorations and arty crafty things: €40. I leave leather boots at the shoe repair shop to be re-soled and re-heeled, collection next week.
4.00 pm: I pay the deposit for Junior’s birthday party: €100: the full affair will be just over €300.
6.00 pm: Today it’s take-away for dinner, we normally do this every other week: €42.30
7.30 pm: We are in for the evening, we watch some TV.
9.30 pm: Bed!
Today’s total: €365.51
9.00 am: Believe it or not, this is what passes for a sleep in these days. I get up, make breakfast: bagel with salami and cheese and fresh coffee.
10.00 am: I do the weekly shop, it comes to €136.71 in one of the discounters.
1.00 pm: Lunch: today it’s every man for himself… crackers and cheese? Grand. Pasta with ketchup? Grand. Two apples? GRAND.
5.00 pm: Back from a family hike. I make dinner: chicken curry with rice, my husband will take the leftovers for lunch tomorrow.
6.30 pm: Junior has a bath, eldest has a shower. Some tidying up goes on but we are landscaping the garden, so let’s manage expectations.
8.00 pm: Kids in bed, I book tickets for the Wild Lights in Dublin Zoo over Christmas: €84 for the four of us. Since I am planning for Xmas already, I also do the full Christmas shopping for Junior: he is easy as he is stubborn as a mule and has his presents chosen for the last few months, so I buy the stuff online: I will collect tomorrow, it comes to €201.76 and I put this on my credit card. The eldest is interested in some new IT, so I can wait a bit longer and see if there are any offers closer to December.
9.30 pm: Bed, bed, bed.
Today’s total: €422.47
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What I learned –
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