WELCOME TO HOW I Spend My Money, a series on The Journal that looks at how people in Ireland really handle their finances. 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.

Are you a spender, a saver or a splurger? We’re looking for readers who will keep a money diary for a 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 HR administrator on €43K living in Co Wicklow. This week, a director at an IT company who is on the shortlist for redundancy. 

I’m currently living in the countryside in the south of the country. We were lucky enough to buy this property right before the pandemic, thank goodness, because we would not be able to afford a place like this now. My husband and I both work from home. We’re in the same industry (IT), and usually we put away all of my wages into savings. However, I was recently informed my role may be made redundant, so this will be an interesting exercise to see how I can better manage our money.

What I want to get out of this? Well, I intend to go on the dole after this period of “collective discussion”. I’ve never been on the dole before, but I’ve always paid my taxes, so I figured I might as well. So I want to see how much I’m spending and how I can adjust my lifestyle. At the very least, I’d like to see if I can pay for our household groceries.

Occupation: Was a director at an IT company, now on the shortlist for redundancy (we are in the “collective discussion” phase)

Age: Mid-40s

Location: South of the country

Salary: Was €168,000 bonuses and stocks per annum

Monthly pay (net): About €6.7k after tax, PRSI, and pension

Transport: About €80 every 10 days for diesel

Rent/mortgage: €0 – We are lucky enough to have bought this property in cash after many years of hard work abroad

Household bills: About €200 a quarter for electricity (we have solar panels), and we fill up our oil tank maybe twice a year to the tune of about €1,300 each time. I also occasionally have a local lady clean for me at €15 an hour

Phone bill: €47.50

Health insurance: Company-paid (for now)

Groceries: About €200 a week on groceries; since we work from home, we tend to eat a lot of leftovers, so our takeaway/eating out is minimal.

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