A Week In Woy Woy, Central Coast, As A Risk Manager On $145,000

Occupation: Risk Manager
Industry: Government
Age: 39
Location: Woy Woy, Central Coast
Salary: $145,000 (I make $140,000 at my main job and approx $5,000 from my casual job).
Net Worth: $649,000 ($120,000 savings in mortgage offset, $29,000 in share investments, $140,000 in super, and a home worth $600,000)
Debt: $240,000 in my mortgage
Paycheque Amount (Monthly): $8,220 after salary sacrificing $700
Pronouns: She/Her

Mortgage: $1,440, but I always pay extra, so it's probably closer to $3,400/month with my current income. Once I have paid my HECS off in eight months, I can add another $500 per month towards my mortgage. I live on my own in a three-bedroom duplex. It is a lovely place in a quiet neighbourhood. I have a partner but we don't live together or share bank accounts. He has his own home.
HECS: $500 a month, which will be paid off in eight months. Yay! I have no other loans.
Group Personal Training: $225
Swimming: $35
Phone: $15
Pet Insurance: $55
Health Insurance: $135
Home Insurance: $86
Other Expenses: I set aside $412/month for quarterly and annual expenses such as car insurance, car rego, council rates, and vet expenses.
Shares: $500
Extra Mortgage Repayments: Whatever is leftover from my pay goes into my mortgage as an extra repayment. Once my mortgage is paid off (hopefully in three years' time), I'll max out my salary sacrifice and put most of the money currently going into the mortgage towards share investing. I am a big fan of ETF investing and have seen the benefit of dividend income, as well as capital growth.

Yes. My parents paid for most of my bachelor's degree in science. Then I completed a research degree under a scholarship program (which also paid for my living expenses). My work partly funded my Master's degree, which I completed last year. I'm currently studying for a graduate certificate, fully funded by work. I'm very grateful for the opportunities I've had.

My parents are very conservative about money. Dad earned most of the household income but he was never very good at managing his money and always ran out of cash just before his next payday (despite being extremely stingy). Mum earned very little compared to Dad, but she educated us from a young age about savings, setting aside money for rainy days and spending. Mum and Dad did not trust each other when it came to money and always hid their incomes from each other.

While I was studying my bachelor's degree at uni, I worked as a waitress in a Thai restaurant. A friend invited me to work there as they were short on staff one night, and I ended up working there for a year. It was cash in hand and I would get $70 a night. I was excited to have my own money!

At times. Growing up as kids we were reasonably comfortable. We were able to do sports and a few other extracurricular activities. But we rarely got birthday presents and never had overseas holiday trips (Dad said we couldn't afford it). We were also never afforded brand-name clothes and the latest gadgets that the rich kids at our school had. I'm now really grateful that as a child, I learned about the value of money and about spending mindfully. As an adult, I realised that these purchases wouldn't have contributed to my happiness.

Growing up, I would only get worried whenever Mum talked about how she never got to see the money Dad earned, despite how much he made. Whenever she was able to earn some more money or get money from Dad for household expenses, she always hid it in fear that one day, we wouldn't have enough money if Dad could no longer work for some reason.

Not really. But I am extremely careful with my money and very motivated to become financially free as soon as possible — with a paid-off mortgage and a share portfolio that can produce enough dividends to pay for my living expenses. I pride myself on being a financially savvy, independent woman!

I use the Barefoot Investor system and even though my income has grown significantly over the years, I still only put $300 a month into my 'splurge' account for eating out, buying discretionary items, and any other non-essential spending. Sometimes I think I have taken on the scarcity mentality that my parents have, as I certainly can afford to splurge more. But I find that $300 a month is enough. Most of my activities, aside from group personal training and swimming, do not cost a lot of money. 

I moved out of home at 18 for university, but my parents still paid for the majority of my expenses. I became fully financially responsible for myself when I was 24 after I got into my research degree under a scholarship scheme that also paid for some living expenses.

You could say that dividends from my share portfolio are passive income, but I always reinvest them, so no!

6:00am — My alarm goes off. I get up to feed the cats then go back to bed to cuddle my partner, A. It's Sunday. We were going to go to the beach, but I decided to sleep in and rest before heading to work at the pool this afternoon (I have a casual job. Yes, I'm hard-working!). A. finally gets up at 6:30am to make a coffee and kisses me before leaving the house.   

8:00am — I finally get up and take a shower. I make myself a flat white and some buttered toast. I also pop a pastizzi that I got from Harris Farm yesterday into the oven (it's a treat!). I eat breakfast and log the meal in MyFitnessPal. I track my meals to ensure I eat enough protein, carbs and fats within my daily calorie allowance to ensure I perform well in my sports and stay in shape.

9:00am — I do my meal prep for the week (fried rice, oven-roasted broccoli) and a Marley Spoon meal of beef dukkah with freekeh salad. Then I cancel my Marley Spoon membership as I have used up all my discounts, so it's cheaper to buy my own groceries. 

10:00am — Laze around on the couch reading Money Magazine — I'm a personal finance nerd!

11:30am — I eat two more pastizzi and get ready for a 4.5-hour shift at the pool. I work casually as a lifeguard and swim instructor, and I get paid time-and-a-half on Sundays. Yeah! I use all the income from this job to buy shares. 

5:30pm — I'm home and showered. Feed the cats and clean their kitty litter. The cats always get fed before I do, otherwise, they are very vocal and do not leave me alone. Dinner is my last Marley Spoon meal of jerk chicken (yum) which A. cooks for me. Then we finish off with a Magnum.

8:00pm — I read some more Money magazine while A. watches The Big Bang Theory on his iPad, then I'm out like a light. I don’t watch TV as I do not like the loud noise from ads (can you tell I am an introvert?). A. gave me a large TV (he is a tech guy) but I hardly ever turn it on. I read the news online to keep up with what’s happening in the world (usually economy and finance!).

5:00am — I get up, grab a banana and drive to the gym for group personal training. This small group session specifically caters to the sports that I do, which are swimming and running. I really like the coach as he works on individual goals. The class is 50 mins and in a few weeks, I will be doing it twice a week. At the moment, I pay $25 for one class per week. When I go twice per week, I will pay $50 per week, but I'll also get unlimited classes. Each session is hard work, but I am happy as I increase the weights I am lifting every week. I can feel myself getting stronger.

6:55am — I arrive back home, have a shower and drink half a choc protein smoothie. Then I make myself a coffee and bacon and egg sandwich for breakfast. As I wash the dishes, I make a mental note to add some new dish sponges to my shopping list. I pack my lunch, clean the kitty litter and get dressed for work. 

11:00am — Work is very busy already, full of meetings and lots of face-to-face time. My job is full of variety and it involves interacting with staff from all departments. Although I have the flexibility to work from home if I want to, I really like talking to people in person. I feel I have more impact.

4:55pm — I finally finish at work, so I stop by Coles on the way home as I need to get a few things for this week's meals. I open the notepad on my phone to check my shopping list. I grab a 5kg bag of jasmine rice (half price!). I also get a can of pineapples in juice, dish sponges, chillies, some marinated pork loin steak and a cucumber ($26.85). It costs a lot for just a few things and I still need to get more items tomorrow from Woolworths. I usually check out the weekly Coles and Woolworths catalogue on Mondays and plan the week's groceries based on what's on special. $26.85

5:15pm — I arrive home and cook half the pork steak and pop the other half into the freezer for next time. I also bake some frozen battered fish, make a pineapple and cucumber salsa, and microwave the fried rice I made over the weekend. 

5:55pm — Dinner is done. I log my meals into MyFitnessPal and prep a choc banana smoothie for the morning. I get ready to spend the night at S.' and pack him some fried rice and cooked pork steak. In return, he will pack me some slow-cooked bolognese (yum!). I notice on my online banking app that payment for next week's personal session has come out ($25), as well as last month's phone bill ($15). Both are part of my planned monthly expenses.

8:15pm — I arrive at A.’ place. I watch him eat dinner while we talk about our day. Then I jump into bed. I struggle to stay up beyond 8:30pm most nights. A. joins me after he gets a few things ready for work tomorrow. He has two school-aged kids about 50% of the time. When he doesn’t have them, we pretty much live together. We have been together for almost three years but we are still living separately. Although we know we would be better off together financially, there’s a lot of work to be done if we are to move in together. House renovations so we can have a fourth bedroom, a second car space, or even just purchase another home. I'm feeling nervous about taking out a larger loan when I'm so close to paying off my current mortgage, so I'm not sure if it's the right move at the moment.

5:45am — Alarm goes off. A. gets ready to head to Sydney for work, but Tuesday is a bit of a sleep-in for me. I get up and ready for a paddle at my local beach. I make a coffee to go and grab my choc banana smoothie. Then I drive for 18 minutes to the beach.

8:14am — I arrive home after training and get ready for work. Tuesday is always a later start due to board training time.

11:48am — After a few back-to-back meetings to coordinate some people activities, I eat my lunch — the penne bolognese that A. made. Then I get ready for an afternoon of more meetings. I get a message from the pool that tonight's swim squad has been cancelled. There is a real shortage of swimming teachers everywhere at the moment. It's so bad that the council is offering free training to anyone over 16 years old so they can become a swim teacher. At my local pool, there is only one coach for the adult swim squad. If she cannot teach, then they have to get someone from another pool almost an hour away, so most of the time they can’t find anyone and have to cancel the class. 

4:43pm — I stop at Woolworths on the way home and pick up bananas, milk and frozen raspberries ($13.59). I make a mental note to return in a couple of days to pick up fresh bread. The joys of living close to the shops mean I shop several times a week! $13.59

5:14pm — I'm starving. For dinner, I have leftover Marley Spoon rice, pineapple salsa and crumbed fish. While eating, I log my meals for the day and catch up on my messages. My swim buddy is disappointed that the pool has cancelled tonight's squad. We make an arrangement to do our own program tomorrow if they cancel again.

5:25pm — I work on my uni assignment. I am doing a graduate certificate in environmental health. This assignment is about influencing change in the workplace. I get distracted and look up the upcoming specials at Woolworths and Coles to start planning my weekend meals. 

6:34pm — I drive to A.' place to stay the night. We catch up on our day and he packs me some more bolognese (yay!). Then we get ready for bed.

7:35pm — We hop into bed. I scroll Instagram and look for brioche hot cross buns on the Woolworths website, making a mental note to pick some up tomorrow. Then it's sleep time. 

6:45am — Alarm goes off. I get an even later sleep-in today! I hit the snooze button and stay in bed until 7:55am before I get up and shower. 

7:00am — I get my bolognese lunch from the fridge and a packet of Coles marinated pork belly from A.' freezer, then head home.

7:34am — I get home, eat a breakfast of cheese omelette on toast and coffee, then get ready and head to work. I’m super lucky that my work is only a five-minute drive away. I purchased my home six years ago. It makes sense to live near work if you can afford it. My area luckily isn’t too expensive, but it is lovely and quiet. 

11:50am — Busy day. I really enjoy my work and our newly renovated open office. It’s nice to be surrounded by people, which is interesting given I’m introverted. I eat my bolognese at my desk then I go to a meeting. When I'm busy, I always eat at my desk. 

12:16pm — Meeting is cancelled. A colleague brought some Krispy Kreme doughnuts in for us, so I have the chocolate glazed one. Then I begrudgingly log it in MyFitnessPal.

1:00pm — An email of next week's pool roster comes through. I see that my supervisor has rostered me to a Sunday morning by mistake. I prefer to work on weekend afternoons. I call the pool and they are able to swap me with someone else but I will work fewer hours as the pool will operate on winter hours from next week, which means it'll shut earlier. Last year, I started working as a learn-to-swim instructor and pool lifeguard as a side hustle. It was mainly to have some extra cash to invest into shares without touching my main salary or reducing my extra mortgage repayment (I enjoy investing!). But I also enjoy the different types of work and keeping my skills up to date. I can work as little or as much as I like. I have been able to grow my shareholding so quickly in the last year thanks to this hobby job!

5:05pm — Late finish at work. I head to Woolworths to get fresh bread and try and find the brioche hot cross buns. I spot the pepper steak I've been looking for and it's on special. I buy two packets (two for $15) and then see that there is one packet of brioche hot cross buns left (score!). I also get two small tubs of Chobani Fit yoghurt that is also on special, as well as a mini low-GI sliced bread. It comes to $24.70 altogether. I need to stop going to the shops every day. Too much impulse buying. $24.70

6:00pm — Feed the cats and clean their litter trays. I have a quick snack of a banana and then head to the pool for swim practice. 

8:34pm — Swimming was great. I arrive home and heat up a Beef Dukkah meal and leftover bolognese. A. has his kids tonight, so we stay in our own homes. I tell him that it’s bedtime, so he video calls me and we briefly fill each other in about our days, then say good night. I spend a few minutes scrolling Insta, and looking at posts about swimming (I'm obsessed with finance and swimming stuff!). Then I fall asleep.  

7:22am — After snoozing my alarm twice, I get up and have a shower. Thursday is a super long sleep-in. I have a breakfast of bacon and egg sandwich with two small hash browns and my usual coffee.

11:30am — I'm at work and I feel a craving for hot chips. So I purchase some from the cafe but there is a minimum of $6 for EFTPOS purchases, so I also buy a pork schnitzel ($6). The schnitty is not very nice. I wish I had eaten my own lunch. $6

1:14pm — I heat some waffles and eat one as a snack.

4:04pm — It has been storming and raining all afternoon. I drive home while it isn't raining too heavily and prepare for Pilates. Then I see a text message from my instructor saying she is cancelling classes as her driveway is flooded. 

4:26pm — I put a hot cross bun under the grill and then slather it with butter. It is delicious. Then I study in the lounge with the cats sleeping on either side of me.

7:00pm — I cook the pork belly slices and put some crumbed fish in the oven. I do some chores and prepare my breakfast (choc banana smoothie) for tomorrow while waiting for the fish to cook and for A. to arrive.

7:34pm — A. arrives. We eat dinner and catch up on our days. I eat half the pork belly (delicious!) and some of the crumbed fish pieces. I have been on an eating spree today and decide not to bother logging my meals into MyFitnessPal.

8:08pm — Dinner is done, dishes washed, then it is bedtime!

6:00am — Alarm goes off. I press snooze and tell A. that I'm too exhausted to get up and go to training. He makes a coffee and kisses me goodbye before leaving the house.

8:24am — I wake up after a big sleep-in, still feeling exhausted. I shower and get dressed. I make a toasted hot cross bun for breakfast, make a takeaway coffee, and drive to work. A. calls to say good morning and tells me how good training was in the morning. I feel annoyed with myself for missing it.

11:00am — The pool rosters for the next two weeks land in my inbox. I see that I don't have a shift next weekend, and only a two-hour shift the Sunday after. I call the pool to check there isn't a mistake. They say that due to public holidays, the pool is operating at reduced hours so not everyone gets a shift. I will be forced to rest, which I guess is a good thing considering I have been working a few Sundays in a row now. 

1:20am — I pay my Coles car insurance ($463.26, covered in my monthly expenses). The premium has increased by $200 this year, so I shopped around a couple of weeks ago and no one else has it cheaper than Coles, in my experience. I increase the excess from $600 to $2,100 which significantly reduces my annual premium. I reckon I am a safe driver, so the chance of being in an accident should be pretty low. I also pay annually as it saves me $59.82. I pay using my credit card and then transfer the payment to pay it off straight away. I get points for using the credit card.

3:20pm — Pool calls me and asks if I can start work earlier tomorrow. That means an eight-hour shift, which is too long for me. I say I can work an extra hour. They book me in. With the 30-minute unpaid break, I will work a total of 5.5 hours tomorrow at the Saturday pay rate. 

3:35pm — I finish work early and stop by Coles to get food for the weekend and the early part of next week. I get canned salmon, canned tomato and red kidney beans, Weet-Bix, Masterfood recipe base (two for $5), chilli seasoning, mince, potatoes, onion, some fresh tomatoes, cucumbers, a pack of ten tortillas, some ham from the deli and a dozen eggs ($46.39). I forgot to get petrol. I will get it tomorrow morning. $46.39

6:05pm — I make some chilli con carne and salmon fish cakes. I eat the salmon fish cakes with bread for dinner, then pack the rest in the fridge. Then I do some study before heading to bed to read some more Money Magazine.

8:14pm — I put aside Money Magazine, scroll some Insta, then A. call to say goodnight.

7:07am — It's voting day. I wake up slowly after snoozing my alarm. I have a breakfast of Weet-Bix, toasted muesli, almonds with yoghurt and milk. It is one of my standard breakfasts, joining a lineup of: choc banana smoothies, bacon and egg sandwiches, porridge oats, and baked beans on toast. I also have my coffee (of course!). By the time I shower and get ready, it's 8:16am so I grab my umbrella and walk to the local public school to vote.

8:46am — I can smell the sausage sizzle and there is a big queue to vote. I read some finance news on my phone while queueing, while also deciding who to vote for. As I grow older, I find I am becoming increasingly concerned about animals. So I vote for the Animal Justice Party first, then Liberals/Nationals second.

9:40am — I arrive home, quickly get changed, pack some snacks and my lunch and then drive to the pool. On the way, I get petrol ($55.51). Living on the coast means I have to drive almost everywhere (except maybe Coles and Woolies), so I fill up petrol once a week. At the pool, I swim for about 20 minutes before having a shower and getting dressed in my uniform. I eat a snack of salmon fish cake sandwich before I walk to the pool deck to start my shift at 11:27am. $55.51

2:33pm — It's my half-hour break. I eat the last of my Marley Spoon beef dukkah meal. I'm glad it's not a hot day — it makes the shift more pleasant.

5:25pm — I clock off and drive home.

6:46pm — Dinner (chilli con carne with tortillas) is done and all meals logged. This time, I did not exceed my daily allowance. There are still at least 5-6 portions of chilli con carne left. The problem with cooking for one is I always eat the same meals for days. I usually put some aside for A., he can take them for work lunches. But I recently saw a recipe for beef stroganoff noodles, which looks interesting. I make a plan to freeze a few portions of the chilli so I can cook something else. I'm happy and settle in for the night. I'm contemplating eating some ice cream later. 

I am quite boring when it comes to spending money. I live by the Barefoot principles and I am really disciplined with buying things I don’t consider necessities. I think this is why I have been able to reduce my mortgage reasonably quickly and build up my shares, even long before I was earning my current salary.