A Week In Williamstown, Melbourne, As A Buying Manager On $125,000

Occupation: Buying, Communications & Marketing Manager
Industry: Finance, but I also freelance in luxury fashion
Age: 27
Location: Williamstown, Melbourne
Salary: $125,000 (I earn $100,000 from my main job and $25,000 from my freelance consulting job in luxury fashion marketing). I get about 15-20% in bonuses on top of my main job, so I'd probably add an extra $10,000 to $20,000 on top of this.
Net Worth: $1.48 million. I have $82,000 in super, $100,000 in shares, and $200,000 in savings. I also have a trust, which I'm not allowed to touch until I'm older (boo!), but I think there might be about $500,000 in there from my grandparents, parents, the family business, and stock trades. I also have about $600,000 worth of assets in luxury items, including bags, clothing, art pieces and jewellery.

Some of these include: a couple of bracelets and rings from Boucheron, Cartier and Mellerio, which are around $5,000 to $10,000 each; a bunch of Chanel bags worth about $20,000; and several couture pieces, including a Valentino dress that's worth $50,000. I'm also currently having another dress made for a family gala which is worth $120,000. A lot of my jewellery has been gifted or is hand-me-downs from family members. I also have some Japanese art sculptures and prints that I bought for $10,000 each.

My dad's side of the family has a very successful business overseas, so this is where my 'wealth of assets' comes from. Many of my handbags and couture items were introduced to me by my godmother, who has quite strong ties to that industry. My parents expect me to be relatively smart with my money, so I'm not meant to spend a lot on a dress, but I'll often be 'approved' to get dresses made for various reasons, such as family events.
Debt: I do not drive, so I have no car debt. I also decided to kickstart my house-hunting goal by paying off my HECS in 2022, which was about $45,000. I have a regular credit card bill of about $1,000 a month, but it's nothing I can’t pay off easily.
Paycheque Amount (Monthly): $8,200 from my main job and $2,200 from freelance jobs.
Pronouns: She/Her

Rent: $1,000. I don't have a mortgage at the moment, and I don't pay 'rent' per se as I moved back home with my family at the start of the pandemic. My parents paid off the house years ago, so it's very easy-breezy. We live in a six-bedroom, four-bathroom house with some four-legged roommates. However, I contribute to monthly bills and groceries. Despite my parents not needing me to, I'll still pay them $1,000 each month as a form of rent, but it's for them to spend however they want. It's more to show gratitude.
Groceries: About $500 a month. I tend to just send the money to my mum since she handles the food at home!
Utilities: $200 to $600 a month. It changes with the seasons and how busy people are at home. In February, I paid $334.57 for electricity, $60 for gas, and $250 for water.
Car Cost: $0! I don’t drive as I don't like being in the driver's seat, plus it's good for the environment.
Pet Expenses: Usually this cost comes out of the monthly grocery money, but I would say I spend about $150 a month on cat food (we have two very hungry cats).
Internet Bill: $90
Phone: I’m usually at work, so I don’t have a phone plan. I usually just buy $180 worth of data at the start of the year which will get me through for a year.
Health Insurance: I’m on my own separate insurance plan from my family which is $400 annually, so I pay $100 every three months.
Spotify: $5.99 a month. I’m still graciously on a student plan but it will expire any day now.
Netflix/Disney+: $0. I’ve been so blessed that people in my life allow me to use their accounts. I owe them my life, honestly.
Donations: Every month, I donate $1,000 to a charity of my choice, whether local or international. I started doing this when I turned 25 because I felt so lucky to have so much. On my birthday this year, instead of asking for gifts, I asked friends to tell me where they wanted me to donate my money. This month, I donated to Fondation de France in France, which was recommended to me by a dear friend who resides in Paris. My mum is really active with philanthropy, so she's instilled it in me to give back as much as I can. I want to put more time into doing it this year, whether that's donating money or starting to volunteer at organisations.
Spending Money: $1,000-ish. I find it a little hard to justify spending money as I usually put most of my money away into savings accounts.

I did! I did my undergraduate in Australia, as well as a couple of years studying abroad that was covered by a scholarship. Like everyone else, I put it on HECS. My parents did not contribute at all to my loan, so I paid it off myself. I know people tend to not worry about it, but I felt like I couldn’t enjoy my life unless I had that loan out of the way. I’ll be doing my Master's soon — work has a program that will cover the tuition depending on how much it is, so I might only need to pay for half of my program.

I was very lucky growing up. My parents really instilled experiences in me and I never realised how much they spent on me as an only child (before my sibling was born). 

Back in the day, I was given the chance to do sports and music, and I got everything I wanted (and more). I think that taught me that I was very privileged. Admittedly, I did grow up a little spoilt and that bled into my adult life, but my parents have always reminded me that even though I have a cushion to fall back on, I’m expected to go out on my own and contribute to my own future. 

My parents are very big on reminding me to put away at least 50% of my pay, but I'm proud to say that I usually put away all of it. I’ve been told there’s a trust somewhere for me, but I won’t be able to access it for a while.

I’ve been humbled by the life experiences of my parents and family. I understand the distinction between wants and needs, so I’m pretty good at handling my finances. I can spend, but I’m responsible for the most part.

My first job was at Hungry Jacks, but I lasted two weeks before realising I was not having a good experience (there was unfortunately a lot of racism and very rude customers). My first ‘official’ job was at Safeway, now Woolworths. I was 16 and just wanted to do something that wasn’t studying, being at school or doing weekend recreational activities that my parents set me up for. It was actually really cool at the time to be in high school and to go to work after you finished school. I became exceptional at my job — it taught me how to bag things properly and to always be a bit kinder to those in retail and hospitality.

Not really. To be honest, money wasn’t really a concept for me until I started working after university as I was never in a position where I had to work for survival. My parents really cushioned me so I never worried and we lived without too many financial issues. I wasn’t ever pressured to work part-time (it was by choice), so I always had money available if needed it.

Despite my position, I think I worry a healthy amount about money, especially given the economics and politics of the world and how much the new generation is struggling. I know that I’m still cushioned, but of course, I worry. I don’t think it consumes me though or stops me from enjoying myself. I still go out to see friends and buy things for myself. I like that I can buy something and not worry if it breaks, gets ruined or is stolen as I can just replace it.

I hate to say it, but as someone who works in fashion, I think I have a really skewed perception of money. It’s something I’m trying to unlearn. I’ll have outbursts of buying lots of designer things as a treat to myself, then I’ll lock up from shopping for other months. I’m also big on gift-giving as a love language, so it’s an automatic process for me to buy people gifts for any reason at all (but not daily). I don't worry about how much things cost or if I have to pay bills. It may be different once I'm in my own house by myself.

Probably when I got into university — that was when I realised that beyond having the trust and family money, I need to make it on my own. I’ve always been ambitious and focused on school, but it really kickstarted when I realised that I was taking myself to and from university, making decisions to travel, see friends, and spend. I think I was 17. I do have a financial safety net now in the form of a trust, but it’s not something I want to rely on. I also can't even touch it until I'm much older.

I have the trust which is inherited income — or will be eventually. Some of the money in my bank account is also from my parents and family, or saved money from birthdays, celebrations, and Lunar New Year. I'd like to believe that most of what I’ve accrued is self-made money from stocks, work, and interest growth.

11:00am — Usually, Sundays are for staying at home. All I really do is get myself ready for the week ahead. Since I work most days in the office, I try to pre-plan meals for the week, but I'll also eat out with colleagues and friends on some days. I head to the local shops to get groceries for myself, including some salad ingredients that I'll spread over the week for lunch (and sometimes dinner). I buy two salad packs, a cucumber, tomatoes, salad dressing, a big tub of vegan yoghurt that I’ve become obsessed with, and some sweet treats. $55.57

1:00pm — I come home and have some yoghurt and fresh fruit, then I start a new show on Netflix that my friend's got me hooked on — Singles Inferno. It's a Korean dating show based on a deserted island and has a bunch of good-looking people on it. A lot of my friends live overseas because of my time abroad, so we have a weekly tradition of ‘streaming’ shows together. It's so fun.

5:00pm — I go for a very long walk while the weather is nice. We have a park in the area that leads into a big hiking spot, so I go off walking for about two or three hours. Then I come home and do a 20-minute YouTube workout (I'll usually do celebrity workout routines!).

7:00pm — My mum makes dinner. I never question what she makes. I have loved my parents’ cooking since I grew up and it's something that’s assisted with my management of money (why buy food outside when you can bring food from home?). After dinner, I spend the rest of the evening organising food for the week ahead and trying to catch my cat, who's decided to go explore the neighbourhood.

1:00am — After some more Netflix, I'm knocked out.

8:00am — I'm working from home today, so I take my time to wake up. Usually, I’m up by 6:30am to leave the house, but when I work from home, I’ll sometimes wake up as soon as it’s time to start (which is not healthy!). I don’t have breakfast because I usually can’t stomach anything so early, so I just have some water and vitamins I’ve been trying to get myself on. Mondays are busy for me, so 8am to 11am is usually just for meetings and playing catch up with emails from the week prior. I work in fashion, so I have teams I deal with overseas. As a result, so much of my work is backlogged from Europe being awake.

1:00pm — I receive some annual pet bills for each cat. They're due in April, but I just decide to pay them off now to get them out of the way ($92). I eat some leftover dinner from yesterday for lunch, as well as some yoghurt. I look at my bank account and also see that some automatic payments for my freelance job came out. This includes $33 to Sprout Social to help with social scheduling for clients, as well as $385 for Facebook advertising. $510

4:00pm — When I work from home, I try to get myself out of the house for an hour for fresh air. I'll usually just wrap up a bit early and go for a long walk at the park near my house. I'm also looking for a house to buy, so my walks these days also double up as a way to see the neighbourhood and if there are any new houses on the market. I don't plan on moving too far from where I am. Then I get home, do a quick workout, and clean myself up.

6:00pm — The downside of working in the glamourous fashion industry and living in Australia means that I have to compromise with timezones. So despite being 'done' with work for the day, I hop back online for some meetings that run until 8:30pm. I'll catch up with freelance clients every now and then, mainly to discuss the Australian market. I can hear my mum cooking hotpot for dinner, which I'm excited about.

9:00pm — I wrap up my meetings, have my hotpot dinner, shower, and hang with the family. I'm exhausted, so I head to bed with my phone. I’ve been trying to sleep earlier as I’ve been jetlagged from a recent work trip, so I’m usually out like a light by 11pm!

7:00am — I'm awake and out the door by 7am to get to the office. I like going to work by train because it's always a lot more efficient than driving (not that I have a car). I also don’t mind working around public transport schedules. It always gives me a moment to wake up before sitting down for the day. My travel card is topped up once a month with around $150, so I can travel as often as I want on the train.

8:00am — In the office and ready to go until lunchtime. I don’t drink coffee which is a nice expense to save on daily. There's also some fresh fruit in the office which helps when I feel snacky. Remember my groceries from Sunday? Half of those salad ingredients stay in the office, coupled with leftovers and fruit that I’ll add to the salad for lunches.

12:30pm — A change of events during my day! My colleague wants to get some food and I simply can't resist the temptation of hot pot. We usually split a big bowl together, and she's kind enough to pay for us both. Our office is very relaxed so we can sometimes take a bit longer on our break. Afterwards, I take my colleague to one of my favourite cafés for pastries. I buy us both two slices of very good cake. $21

5:30pm — Leave the office to go home. By the time I get home during the week, it’s usually pretty dark already and someone has started dinner. On the way home, I can't resist something sweet, so I stop in at my favourite shop (heaven for kids and adults alike) and buy $11.16 worth of candy. Then I hop on the train. $11.16

7:00pm — Dinner at home again! Today’s dinner was pasta from my mum — nice and simple, but so delicious.

1:00am — Admittedly, I stay up late in bed to do some reading for work. I'm buzzing from the sugar rush and decide to do some window shopping for a dress. A colleague is getting married soon, so I'm on the hunt for a nice gown. Working in fashion gives me some nice connections, so I’ve been debating between a recent couture dress that I have to pre-order or just a generic ready-to-wear dress.

7:00am — Another day in the office today — and a much longer one, too. I wish I had slept more because I'm so sleepy this morning.

8:00am — I'm in the office, so I cut up some fruit and enjoy some yoghurt from home. I also make myself a cup of matcha latte; I discovered that my favourite café has matcha powder that I can buy, and while it was a little pricey, I can make as many drinks as I want with it. I use some of the soy milk that the office supplies and get frothing.

1:00pm — After a busy morning, I'm finally able to make lunch. I use all the ingredients I didn't get to use yesterday — garden mix salad, cucumbers, nectarines (trust me, it’s good!), some nori flakes, and some food from last night’s family dinner, all tossed together! Then I take a little walk since it's a nice day. While I'm out, I grab some things. First, I buy a gift for a friend that I'm seeing for dinner later — two perfume samples from one of my favourite local shops, LNKU ($24). Then I buy a facewash from Ren, which at $48, and is half of what I was paying with my old brand. I love a good deal, and given the seasons are changing, I need something less harsh for my skin. Finally, I get some pastries from the bakery ($15.30). I also stop by Cartier to pick up a bracelet that I had getting cleaned, thankfully, at no cost. $87.30

5:00pm — We have a team meet and greet with another office, so we head over from the office to a venue that a lovely colleague of mine picked out. There are lots of nibbles and drinks, so I hang around for a while before leaving for dinner with my friend.

6:30pm — I didn’t realise that the venue I'm at is on the other side of the city from where I'm meeting my friend, so I'm in a bit of a hurry to meet her. I barely end up making it on time, but I do successfully make it. I'm not a picky eater so I told her to choose where we're going, which is a Japanese restaurant. I see her and hand over her gift and we enjoy a lovely catch-up over dinner. I don’t eat out often out of habit, but I’m always happy to spend time with friends that I really cherish. We both split the order as it was an order-as-you-go situation. I buy our massive mains ($80), and she gets the dessert and drinks. We chat until we're kicked out! $80

11:00pm — By the time I get to the train station near my house, it's relatively late, so I get an Uber the rest of the way ($9.86). I do a quick workout, shower, and immediately head to sleep. $9.86

7:00am — One more day in the office… I usually work at home, but I’ve been so busy that I need to be in the office to focus on my workload! I'm in the city by 8am again, but this time, I decided to treat myself to a juice from a stand that I love visiting. They have an amazing juice that’s meant to help with colds and I needed a little pick me up, as I haven't been sleeping well and am feeling under the weather. I get a large drink for $8.90, then head to the office to work quietly (I know, so boring, I’m sorry). $8.90

9:00am — My day-to-day job in finance is usually spent sitting in meetings to go over the stock market, the industry needs in Australia, and how to focus on making the most out of the investments our client gives us. I'm also responsible for updating a lot of end-of-month data that's set to come through in the next week, so I've been busying myself with spreadsheets and awful Excel formulas that no one likes to think about. Eventually, I’m slated to be an all-rounder in the company, dealing with investments as well as analytical work.

12:30pm — Usually, I don’t eat lunch this early, but it’s been more quiet than usual today. I whip up a salad and add a can of tuna. Then I head out for a walk around the city to clear my mind and enjoy the weather. I catch up with another friend and wait for her while she orders some coffee. I opted not to have anything this time.

4:00pm  — Leave the office early today so I can go home and get some things done! I have an open inspection for a property at 5pm and really don't want to miss it. I also want to squeeze in a workout.

6:00pm — Inspection done, back at home, all exercised out. I hang with my family and help make dinner with my mum. We're making sashimi with lots of steamed vegetables.

11:00pm — I'm in bed by 11pm and lounge around. I get to work from home on Fridays so I tend to be easier on myself if I go to bed later.

6:00am — Start work today with a meeting with my colleague who's overseas. Sometimes I make the effort to be the one to wake up earlier so people don't always have to wake up for me. Plus, I'm at home and not in a rush, so I don't mind compromising. It is fashion after all! Don’t tell my bosses, but I’m a little lazier on Fridays. I work from my bed and I like to lie down a lot in between emails — I think it’s deserved!

11:00am — I go meet a broker to look at another house, I’m not in a rush to buy, but I do like the feeling of being consumed with finding the perfect house and going to look at places! The house is in the neighbourhood, so I'm able to go for a walk and see the house. After, I walk home and make lunch — some leftover fruit from the office and leftover salad ingredients. I mix it all up with boiled eggs and have some yoghurt afterwards. Yes, it's all I eat, but I promise it's really yummy and very healthy.

4:00pm — I try to wrap up early today because who even works so much on a Friday?! I go for another walk, work out, and catch up with a friend on the phone to plan for a tentative trip we’d like to do in the future. When the weather gets colder, I like to call my loved ones instead of seeing them so much IRL as I'm a lot lazier. I need to conserve my energy!

5:30pm — I decide to go to a Pilates/ballet class. I recently took up ballet (something I didn’t get to do in my youth) and I’m loving it. Nothing is more fun than exercising and looking cute while you’re at it. I head out to the studio by Uber. It should have been a $30 trip, but I had a coupon credited to me on the app, so I didn't have to spend a cent!

8:00pm — I come home and make dinner for my family with a bunch of things we have in the fridge. It's kind of like a stew... but not really. But it is good food, I promise!

9:00pm — On Fridays, I'll usually cosy up in bed with my cats, relax, watch movies, or think about what to do on the weekend. I book in a nail appointment with my artist for Saturday. I've been going to them for the last three years with total devotion and loyalty. I think this is a treat that I just can't give up as I enjoy it so much. Eventually, I fall asleep.

7:00am — I wake up earlier than usual because I want to go to an equestrian class. It’s not something I do often but I love it. I also like to check up on my horses at the stable. Now with work and travelling, I don’t get the chance to ride as much as I used to. After, I head into the city for my nail appointment.

11:00am — My appointment with my nail artist is usually two to three hours long with prep and art, so I try to schedule times that work for both of us (and so I can make the most of the day). By the time I'm done, it's about 2pm. I pay $150 for my nails, and we decide to go and get lunch together. $150

2:30pm — We eat some Korean food, catch up, and chat until it's time for her to depart. My nail artist is super sweet and offers to pay for lunch. It was about $86.30, so I'm super grateful. After, I go and visit an art gallery that a friend has recommended I visit.

5:00pm — I know this is the time when people usually start to go out for the weekend, but I feel old and I'm ready to head home to the family. I stop by a drink shop to get my family some sweet treats ($15.30). Then I take a pitstop by my favourite candy shop again, and spend $30.20 stocking myself up for the weekend. I usually feel a little angsty if I haven’t had a salad once a day, so I go home and have my usual garden mix. I feel like a rabbit sometimes. $45.50

7:00pm — I accidentally go on a little online shopping spree. Usually, when I buy one thing, the floodgates open and I feel like I have to buy everything I want (need!) at once, so I don’t regret it later. I purchase a gorgeous knit set from Max Mara that I had been eyeing for a while ($1,454.51). They have free shipping and it's already discounted, so how could I resist? I also buy a friend an early birthday gift, including some keychains from an artist she adores ($20), as well as some household items ($152). $1,626.51

9:00pm — I do a bit of work for my freelance clients. I also confirm a meeting for a special jewellery piece that I've been gifted (they have to make it and it comes all the way from Europe!). To be transparent, the base price of this piece would be in the high six figures. It's meant to be a gift from the brand, but I don't like the idea of brands gifting me really expensive things, so I feel like it's only right to at least pay for the management of the jewellery piece, especially if they're not going to make me pay outright for the piece. I send an invoice over to cover insurance, shipping and delivery, which comes to $10,000. This brand and the team have worked with me since I first started in the fashion industry and we've gradually evolved our relationship beyond simply being sent things because of my family name. I'm very blessed with these gifts and opportunities. $10,000

11:00pm — I go over some bills that I want to handle for the month so my parents don't have to, including $452 towards electricity, $60 to gas (both covered in monthly expenses) and some invoices for some house renovations that my parents had done ($1,050). Then, finally, I clear out all of my candy, binge Netflix until the crack of dawn, and do some house hunting online. $1,050

My dad's side of the family owns an incredibly successful company overseas. We're not 'notable' in Australia so we're able to keep things quiet, but overseas, we're very well known.

My mum's side of the family is actually just everyday people with normal jobs who had to migrate to Australia as refugees. They worked hard to study and be at the top of their education, but I guess it was lucky my mum met my dad. That's why she's such a big advocate for giving back and supporting charities and communities, especially from back home.

My $200,000 in savings didn't all come from me working (I'd actually say only a third of it is from my own efforts). Most of it was just always in my account growing up and has accrued interest.

I understand my privilege, but I don't feel like I take advantage of it to spend recklessly. I feel like I want people to understand that a lot of the way people spend their money is the result of their environment. Are lots of rich people really pretentious and removed from reality? Probably — but not all of them are. I look at my parents as examples of this — they're down to earth and still like free and inexpensive things. I think some people have the wrong idea of what 'generational wealth' is because of what we see in Hollywood. I feel like we're like every other family and, at the end of the day, they just have a business that they have to keep running. I get to reap the benefits for now, until I step up.