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

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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.

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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!

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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.

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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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