Money Diaries: The 21-year-old FinTok influencer with a $156k salary

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on August 05, 2021
Money Diaries: The 21-year-old FinTok influencer with a $156k salary

This week: A 21-year-old FinTok influencer with a $156k salary and $100k in super.

Have you ever wanted to find out how a total stranger spends their money? Same. Savings.com.au’s money diaries asks Australians to record a week in the life of their bank account. We want to know exactly what you spend your money on, how much you earn, save, if you invest and what your money goals are.

Industry: Finance (AussieMoneyMan)

Salary: 156k

Age: 21

Where do you live? Blue Mountains, NSW

Housing: Renting

Debt: Nil

Assets: Shares

Regular monthly expenses: Rent: $800, Phone $25, Internet $50, Spotify $8, Private Health $180


Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market

Lender

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  • Take money out at any time without affecting your bonus rate.
  • Open up to 10 Save accounts and get bonus interest on all of them, including shared Save accounts.
  • Get bonus interest on a combined balance of up to $250K across all your Save accounts.

Save Account

  • Take money out at any time without affecting your bonus rate.
  • Open up to 10 Save accounts and get bonus interest on all of them, including shared Save accounts.
  • Get bonus interest on a combined balance of up to $250K across all your Save accounts.
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

High Interest Savings Account (< $250k)

    4001$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

    Online Saver ($1-$100k)

      0500$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

      Reward Saver

        000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details

        BU Savings Account

          Rates based on a savings balance of $10,000. Sorted by total interest rates. Refer to providers' websites for bonus rate conditions and for any applicable fees and charges. Rates correct as of August 10, 2022. View disclaimer.


          Save

          How much of your income do you save and what are you saving for?

          I save 90% before tax, I am saving for early financial retirement.

          How do you budget?

          I only buy things that offer extreme value (frugal).

          What money habits are you especially proud of?

          Always thinking of purchases through a criteria I designed.

          Growing up, did your parents have conversations with you about money? Did your parents/guardian teach you about money?

          Very little, was taught to save which I am grateful for but my parents did not know about investing or much else about personal finance.


          Spend

          What do you spend most of your money on?

          Living costs and business expenses

          Do you make spending decisions carefully or are you a bit loose with the purse strings?  

          Very strict!

          Do you have any money habits you aren’t especially proud of?

          No, luckily! Working in the personal finance space allows me a lot of education to avoid mistakes prior to them occurring.

          What’s your favourite thing to spend money on? 

          Computer builds normally!


          Invest

          How do you invest?  

          World-wide (developed and emerging markets), cap weighted, half hedged and half un-hedged, ETFS.

          What has been your best/worst investment?

          I only invest in long term focused ETFs and have had much success doing so.

          How much is sitting in your super and do you regularly contribute to it? 

          About 100k, yes.


          A week in the life of my bank account

          Monday - Day One

          Daily spend: $70 groceries (median weekly spend) and $128 supplements (3 months worth) - These are proven by science to have what I deem highly worthy advantages and hence I spend on this.

          Tuesday - Day Two

          Daily spend: $ 544 + 428 green slip and rego

          That time of the year again! 12 months worth.

          Wednesday - Day Three

          Daily spend: $38 Fuel

          I spend this amount on fuel about fortnightly.

          Thursday - Day Four

          Daily spend: $15 cable for pc set up (multi-monitor) and $35 Software for Video Editing (for business).

          Friday - Day Five

          Like most days in a normal week I spend nothing! I spend most days inside (short of exercise) working from my computer and hence besides using up food and power, I am not actually spending!

          Daily spend: 0

          Saturday - Day Six

          Daily spend: $120 Fire-wood (Used as heating).

          Sunday - Day Seven

          Like most days in a normal week I spend nothing! I spend most days inside (short of exercise) working from my computer and hence besides using up food and power, I am not actually spending!

          Daily spend: $0

          Weekly spend: $1,215


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          author-avatar
          Emma Duffy is Assistant Editor at Your Mortgage and  Your Investment Property Mag, which are part of the Savings Media Group. In this role, she manages a team of journalists and expert contributors committed to keeping readers informed about the latest home loan and finance news and trends, as well as providing in-depth property guides. She is also a finance journalist at Savings.com.au which she joined shortly after its launch in early 2019. Emma has a Bachelor in Journalism and has been published in several other publications and been featured on radio.

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