Gen Z producer, 24, earning $104,000 a year reveals the VERY controversial amount she budgets for ‘fun’ every month – so whose side are you on?
- A finance expert has broken down the monthly expenses of a producer
- The 24-year-old anonymous woman from Melbourne makes $104,000 a year
- Per month she takes home $5465 and an extra $1000 on a side hustle
- Her expenses cost $2377 per month and she allocates $2482 for ‘fun’ activities
- Others couldn’t believe the amount she spends on shopping and eating out
A finance expert has shared how her 24-year-old producer client budgets her $104,000 salary while renting in Melbourne – and many can’t believe that she spends $2582 on ‘fun’ each month.
Téa Angelos, the founder of education company Smart Women Society, posted a now-viral TikTok video breaking down the anonymous woman’s expenses.
After taxes, superannuation and compulsory student loan debt payments, the woman takes home $5,465 per month.
In addition to her income she makes $1000 a month on a ‘side hustle’ and has a the long-term goal to save $60,000 for a home deposit and extra for an ’emergency fund’.
Her monthly expenses total $2377, which includes $1424 on rent, $140 on bills, $300 on groceries, and $74 on insurance.
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Téa Angelos, the founder of education company Smart Women Society, broke down the $104,000 salary of a 24-year-old producer from Melbourne
After paying her expenses, the woman divides the remaining $3728 three categories. She allocates $700 to her savings account, $300 to her emergency fund and is left with a staggering $2582 to use ‘fun’ – such as shopping and eating out
Her other expenses include a $40 phone bill, $50 on transport, $99 on health, $90 on the internet bill and $160 for psychologist appointments.
After paying her expenses, the woman divides the remaining $3728 three categories – savings, emergency fund and spending.
She allocates $700 to her savings account, $300 to her emergency fund and is left with a staggering $2582 to use for ‘fun’ – such as shopping and eating out.
The only debt she has is her $26,000 HECS student loan, which is removed from her pre-tax pay, and invisalign treatment of $363 per month.
After taxes, superannuation and compulsory student loan debt payments, the anonymous woman takes home $5,465 per month. Monthly expenses total $2377, (pictured: expenses)
‘Do you think she should be doing anything differently?’ Tea said in the video, which has now exceeded 27,000 views.
‘I think if she’s serious about a house loan she should be dropping at least twice that into her house savings,’ one person wrote.
Another suggested: ‘Put more money in the house deposit fund and less in fun activities.’
A third added: ‘Put $2500 into your savings, emergency fund and your super – and use the $1,200 or less for fun. Nobody needs $2500 for shopping and eating out. That’s whack.’
But some disagree and say the young woman should ‘live it up’.
‘I think she’s fine. Life is for living and she’s young and should be enjoying it,’ one person wrote.