WELCOME TO HOW I Spend My Money, a series on The Journal that looks at how people in Ireland really handle their finances.
Are you a spender, a saver or a splurger? 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. 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 IT systems architect on €90K living in Dublin. This week, we have an assistant lecturer on €46k working in Leinster.
I am a lecturer working in Leinster. I only started this new position in September so I’m very much still finding my feet. I am the definition of the eternal student, having spent about ten years completing my undergrad, masters and PhD in engineering. I absolutely love my job and albeit my salary isn’t amazing (especially compared with my classmates who work in industry being on close to double what I earn), I count myself very lucky. I worked my proverbial off to get to this position and it all feels like it has eventually paid off.
On my weekends I reside in Munster at home with my family, I’m a complete home bird. I try to buy groceries and bits while I’m around and make a point of cooking as much as I can when I’m there. I don’t drink but I am a devil for a good coffee. The majority of my disposable income goes towards sport and fitness, activity is my non-negotiable.
As far as money goes, the last several years of my life have very much been scraping by. My PhD scholarship paid €16,000 a year, so trying to live and pay rent with this was a challenge. Throughout all of college I worked in hospitality, sometimes in two jobs, to try to support this, so many, many years of seven-day work weeks. However, it did teach me to live efficiently.
As far as my current and future finances go, I have a spreadsheet budget which I update monthly to help me with spending and saving. My biggest monthly expense, outside of rent, is my car loan. My old car died a death over the summer, so I decided to invest. I do a lot of weekly mileage (approx. 600km) so having a safe, comfortable and reliable car was a worthy expense in my books.
I also completely drained my savings starting this new job (think security deposits, no income etc) so that is an important goal to try build it back up asap. I also have just started saving for a mortgage, but I know I am a long way off. My salary should considerably increase in about three years so the plan is to have the deposit saved by then.
Occupation: Assistant lecturer
Age: 32
Location: Munster/Leinster
Salary: €46,100
Monthly pay (net): €3,493
Monthly expenses
Transport: €240 (diesel), €10 (motor tax), €44 (insurance), €625 (car loan), €1.20 (toll tag)
Rent: €650
Household bills: Included
Phone bill: €12.99
Health insurance: None, this is on the to do list for the new year.
Groceries: I aim for €100 personally, what I pick up for home varies
Subscriptions: €10 (Audible), €108 (training), €45 (gym), €28 (pool)
Mortgage savings: €500
Personal savings: €200
***
Monday
7.50 am: Woken up to the dog standing over me. Apparently, it’s time for breakfast so we’re up and at ‘em. Get the girls (dogs) their breakfast and make a coffee and porridge for myself. I’ve no classes Monday so I work from home. I check the emails and Teams before I have an appointment at 9.
10.00 am: Appointment completed (€70) and before I get stuck into work I head to the kitchen. Monday is soup day, so I prepare the ingredients for myself and my folks for the week. Today there is choice of cream of mushroom or tomato and basil. It’s definitely a day for something hearty and warming. Soups on the stove, its back to the desk. I work best in the evenings (3-10pm) so I use the mornings to do work that requires a little less brain power (emails, lecture slide prep, scheduling).
11.00 am It’s a beautiful fresh and sunny morning outside so myself and the dog head off for a walk. My brother is around for the morning before heading back to college so I text him to meet us at a café at 11.40. Two flat whites and a dog treat, we all cosy around for the chats (€7.90). Parking costs €1.90. Sent the brother to get mince and a tin of chopped tomatoes on his way home for dinner (€6.50).
12.30 am Back at the desk again, getting into some lecture prep. I know I’m lucky to have the freedom in my schedule. I worked for a few hours yesterday evening so I could get out and about this morning. In saying that, I’ve been over doing it of late, with no work life balance. I put a 60-hour work week down last week with zero exercise so that was a red flag for me. I am going to try regain some of that balance back this week.
1.30 pm Blend soup, and tuck into lunch with folks. Prepare a spaghetti bolognaise ragu with the tomatoes and mince and leave it simmering on low with some red wine for the evening.
2.00 pm Return to work and I’m on more lecture preparations. This will mostly include reading and preparing lecture slides, as well as worked examples for the class. I feel like a student again, revising everything, and I love it! The advantage of my crazy week last week means I have one class fully prepared, and another half one done so its taken the pressure off me today.
4.30 pm Out the door again, this time for a swim.
6.00 pm Out of the pool and feeling all the better for the effort. Stop for diesel on the way home. Fill the tank and pick up a protein milk (€62.50). In the door and feed the hounds, who were not impressed that dinner is an hour late. Cook some pasta and serve up with the bolognaise sauce to the family.
7.00 pm Dinner devoured by all. Pack a portion for college, as well as a serving of soup and throw together some overnight oats. I return to my desk once more to wrap up a few things for two hours. Pay an outstanding physio bill (€55).
10.30 pm The dog follows me to bed, I put an audiobook on and its lights out. Early start tomorrow.
Today’s total: €203.80 (plus 4x round up of €5.64)
Tuesday
5.00 am The alarm goes off and I’m up straight away. The dogs aren’t impressed with the early start but give them a snuggle and make shapes. Get dressed, brush teeth, pop a bagel into the toaster and make a coffee. Out the door in 20 mins to hit the road to college.
08.15 am Land into the office, another cold morning! Paid toll along way (€2.30). I transfer rent (€150) once settled in at the desk. This comes from my bank account, which I use for all bills. At the start of every month, I transfer my disposable income to Revolut for day-to-day spending. Do some revision of lecture notes and have a battle with the printer before its off to class at 9.
10.00 am Returning to my office after a successful 9am lecture. It’s not the most riveting subject first thing in the morning but the students are fantastic and embrace it. Back into lecture preparation whilst eating my overnight oats before the next classes. Make a cup of tea to warm up as the office is like an ice box. The hat and jacket are on currently! I put headphones in and get stuck in.
2.10 pm Two more classes ticked off. Back to the office for a lunch on the go of a yoghurt because I forgot everything else.
5.15 pm Done for another day after an enjoyable afternoon of lectures. I’m always wrecked after Tuesdays, today and Fridays are my heaviest class wise. Tie up a few ends and call it a day on campus.
6.00 pm Arrive home, via Aldi. Pick up my groceries for the week which come to €12.44. I actually had a good few bits left from last week so I don’t need much. Also get Adblue for the car (€10.25). Unpack bags and hang up the clothes and I jump into the shower to decompress whilst last nights spaghetti is in the microwave. Throw Gilmore Girls on in the background, PJs on.
7.15 pm Its back to more prep for tomorrow before I admit defeat. Feeling a bit brain dead so its just formatting and arranging lecture slides. I also remember to take out tomorrow and Thursdays dinner out of freezer to defrost.
8.15 pm We have a club meeting online this evening so I call home and chat to mom for ten minutes before signing into that. Make a cup of tea to sip on and grab a cereal bar for a snack.
9.30 pm Meeting done, I shuffle to bed. Set the alarm for gym for 6.40am and audiobook on. Lights out.
Today’s total: €174.99 (plus 4x round up of €7.08)
Wednesday
6.40 am The alarm goes off and I roll out of bed. Gym gear is laid out, so get dressed, brush the teeth and I’m out the door. The quicker I get out, the less time I have to wake up which means less chance of me talking myself out of going. Get to the car. Wind screen frozen. Back to the house, a good old-fashioned pot of luke-warm water later and the car is ready for road.
8.00 am Home and leg day done, so I jump into the shower. Make some porridge and a coffee. Load the porridge up with berries, seeds and a banana. My favourite way to start the day is a black coffee with no rush. When at home, I have an espresso machine, here it’s the Aeropress, for which I buy beans every 2-3 weeks. I’m trying to save money on buying coffee in general, so my rule is to only buy coffee out when I’m at home at the weekend.
8.45 am Start into the preparation for class. Go hunting for some videos to aid with concept explanation for today. Dip in and out of tomorrow’s lab and a worksheet for another lecture for Friday.
12.15 pm Throw together some scrambled eggs and brown bread from yesterday’s shop for an early lunch as I’m in for the evening. Put together and packed up to stroll into college for the afternoon of classes. Put a podcast on for entertainment and it’s another beautiful winters day out.
2.30 pm Turning to stress central this afternoon leads me to buying a hot chocolate for emotional support (€4.35).
5.30 pm Classes finished and wander home in the crisp winter air. I do love this weather. Jump into the shower to defrost and throw dinner in the microwave. It’s a three-bean chilli I meal prepped last week and made way too much of, so I get two weeks out of. I tend to do a big meal prep every few weeks and freeze the food for use then.
6.30 pm Back to the desk for more prep. I always have the fear for Thursdays as they’re the hardest classes to prepare trying to cater for differing abilities. As such Wednesdays tend to be a late night, and I expect this evening to be no different.
10.35 pm Not the worst time, but certainly not the best time to be finishing work. I grab a hot water bottle and switch the light off, audiobook on.
Today’s total: €4.35 (plus 4x round up of €2.60)
Thursday
7.50 am I brew a coffee to go with porridge and berries and sit down to eat. Once I’m finished, get ready and stroll on into campus in the crisp air. Blue skies, sunshine and a hard frost on the cars. I love the fresh air in the morning to wake up, nothing like it.
12.30 pm The schedule is a little lighter class wise today so I walk home for lunch after morning classes. Once there, I make a coffee and heat up Monday’s soup with some brown bread. Perfect cosy food. I decide to work from here for two hours once I’ve eaten, much more desirable than sitting in the cold office with the hat and coat on.
2.30 pm Walk back to campus for the afternoon classes.
5.15 pm Stroll home after another day complete. Heat up the chilli for dinner.
6.00 pm I get back to some more preparation. The semester wraps up in just over two weeks so trying to get ahead on all the exam season festivities. Setting up things like excel grading sheets, end of semester in class exams and presentation schedules.
8.30 pm Throw together some overnight oats for breakfast in the morning and organise tomorrow’s clothes. I managed a no spend day today, I try to get at least one a week. Hop into bed with the hot water bottle and call home. Half an hour later, I set the gym alarm, audiobook on, lights out.
Today’s total: €0.00
Friday
6.40 am Alarm goes off. I’m delayed this morning as the car is frozen solid.
7.50 am Home from the gym, upper session done. I jump into the shower to defrost while coffee is brewing. Make myself presentable and pack breakfast of overnight oats and lunch of yoghurt, an apple and a cereal bar.
8.20 am On Fridays I drive to campus so I can hit the road straight away after class in the evening. The parking situation is a bit chaotic on site so I am on the road by 8.15. Eat my overnight oats at the desk before its off to class for 9.
12.10 pm Fridays are a super busy day with just an hour of no classes. I take the break to get some lunch of an apple and a yoghurt.
4.00 pm All finished for the week and I hit the road. It depends on the week whether I stop at a service station on the way home for snacks for the drive, but today I resist.
8.00 pm Land in home. Mom has dinner ready for us of. It’s a treat after the drive.
8.40 pm Admit defeat as my eyes won’t stay open, I hit the hay shortly after dinner. Smugly, I switch off the alarm for tomorrow.
Today’s total: €2.30 (plus 4x round up of €2.80)
Saturday
8.05 am That was the extent of my sleep in. Woken up to the dog licking my face, so I can’t be mad. It’s what I miss most about being away mid-week. We get up and get breakfast. Part of me toys with the idea of doing the park run.
9.45 am Feel bad about not being able to bring the dog with me, so I decide against so instead, we head to the woods for our own trail run.
11.30 am One of my favourite parts of the week is Saturday morning. Since starting the new job and my brother starting college, I bring us and mom out for coffee and buns for a catchup and debrief of the week. Two flat whites, a cappuccino and three cinnamon buns comes to €23.90.
2.00 pm Have some soup and brown bread for lunch. Start into preparation for a lasagna for dinner tonight using ingredients mom had picked up. While I’m at it, I also prepare some waffle batter for tomorrow morning’s breakfast for the family. You may be getting the sense that I’m not good at doing nothing by now, and yes, you are correct.
4.30 pm I had planned on heading to the pool for an hour but I’ve made a mess of the timetable, so no swim for me today. I hop on the bike for a quick session instead.
6.00 pm Send my friend €17 for an event ticket.
7.30 pm We all sit down to dinner of lasagna, and everyone seems happy. Theres a portion left which my brother can take back to college.
10.30 pm After a far from wild night laced with too much scrolling, I head to bed. See an appeal from Dogs Trust, so make a €30 donation. Set the alarm for 7am for the morning.
Today’s total: €70.90 (plus 4x round up of €0.40)
Sunday
7.00 am Up and at em for a swim session with the club. Roll out of bed and head to the pool. No faster way to wake up than pool water which is slightly on the cool side.
8.45 am Home and set the waffle iron on. Make waffles for myself and mom and leave the batter out for the gentlemen of the family who are still in bed. Switch on the espresso machine and make a coffee to have with breakfast.
10.00 pm We have a club event in the wind and rain this morning, so I grab mine and the dog’s jackets and we head out.
12.00 pm Steps done, one of the girls texts to see if I want to go for a catch up after the week. We go for a drive and grab coffees, which we fight over who pays. Then decide to throw together our cash instead of using card. I found €2.50 in my pocket and she had a fiver so that was that.
1.30 pm Home and make lunch, which is some egg fried rice and a smoothie.
3.00 pm I sit down to do some college work for the evening. I know I should try keep my weekends free, but it takes the pressure off Mondays.
5.30 pm Take a break and hop on the bike for another quick session.
7.00 pm Bike done, and I’m showered. Dad has picked up some beef from the butchers, so I suggest I’ll make a beef bourguignon in the slow cooker. Start into that whilst simultaneously making tonight’s dinner which is a stir fry.
8.00 pm Dinner finished, we sit down to watch something on TV.
10.30 pm The dogs decide it’s time for bed, so I follow suit. Alarm on, audiobook on, lights out.
Today’s total: €2.50
Weekly subtotal: €458.84
***
What I learned:
- This would be slightly above my normal week, primarily due to the two appointments. But I suppose week to week, there’s always something that creeps up. I probably spent less on food this week than I normally would though.
- I thought once I’d finished the PhD, I would be far more financially stable. I know I’m only new into full time employment but still feeling anything but. I think once I build my savings back up to a comfortable level I will rest easier. In saying that, the medical expenses which were unplanned wiped out my budget this week so I only have a pittance to live on until I get paid in 5 days because I have myself so tight with savings targets. I’m not looking forward to balancing out next month what with Christmas spending if I’m like this in a bog-standard November.
- I definitely need to spend more time on my work-life balance. This was an easy week by my standards and I still have put down probably 50 hours. I do absolutely love what I do and that’s probably part of the problem, but I need to get better with boundaries. I keep saying to myself that it will be easier next year once I’ve the first full year down, but I need to live in the present. This diary has also made me very aware my lack of social life midweek which is as a result of this too. Moving somewhere completely new where you know no one is quite isolating so I need to make efforts to change that.
- For someone who started off this diary saying fitness is a non-negotiable, I could definitely be doing better. Considering the money I pay towards it especially. Its furthermore cemented by my inability to put work asides.
- I know I am incredibly lucky to have such wonderful parents, they won’t take rent and it’s a struggle for them to let me even pay for food. They would much prefer to see me saving and spending the money on myself. I love being able to cook for them so it’s the least I can do to show my appreciation.
- Pension and health insurance are things that I need to sort out next. I am clueless around all these things so very happy to take any advice given!
