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 a fintech worker on €65K living in Dublin. This week, a secondary school teacher on €68K who will shortly be taking maternity leave.

My husband and I live in the east of the country with our two small children, and we are currently expecting our third child. We are both teachers employed at the same school and are on identical salary scales. We work very close to home, and our children attend a crèche located beside our school which means we can walk or cycle to work each day. I will shortly be going on maternity leave. Before meeting my husband, I purchased my own home. This property is now rented to tenants and is fully registered with the Residential Tenancies Board (RTB). After tax, the rental income just covers the mortgage repayments on the property. We recently completed renovation works on the house, funded through a home improvement loan. As the property is rented, I pay income tax on the rental income and approximately 50% of the rental profit is deducted through taxation each month.

We are very careful and responsible with our finances. I have always adopted a frugal approach to spending, preferring to minimise costs in everyday areas so that we can prioritise experiences and long-term financial security. I always opt to buy secondhand when possible, and I’m mindful with keeping our bills and costs to a minimum. We love to get away for a holiday, and we try to take regular breaks, often booking at short notice to take advantage of discounted prices. Since having children, our holiday priorities have changed, and we now focus on family-friendly accommodation and facilities such as apartments, children’s pools and kids’ clubs. With busy teaching jobs and two small children, there isn’t much time these days for the hobbies we used to enjoy. Instead, our evenings and weekends revolve around child-centred activities such as library trips, playground excursions and attending the many family-friendly events and activities that take place across the city (usually always free activities).

We make a concerted effort to keep grocery expenditure low. Meal planning, batch cooking and preparing meals from scratch form a regular part of our household routine. Living within walking distance of several major supermarkets allows us to take advantage of reduced-price items throughout the week. Thanks to this, we maintain a well-stocked freezer and frequently purchase household essentials and food items in bulk when discounted, helping us to manage costs effectively.

We are currently focused on repaying a home improvement loan and a personal loan to a family member, so we don’t have a dedicated monthly savings amount. However, we both contribute to private pensions, invest our children’s Child Benefit payments and maintain income protection, specified illness cover and life insurance policies. We own our car outright, with this year’s tax and insurance already paid. As I’m originally from the west of........

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