Industry: Federal Government
Location: Canberra, ACT
My Salary: $153,000 usually, but I'm now working part-time (16 hours/week) so I make around $80,000.
Husband's Salary: $120,000
Net Worth: $412,434 (A house worth $700,000 and an investment property worth $500,000. We also like to have a small amount of savings ($10,000) available which we maintain by paying over the minimum loan repayment or making additional payments.)
Debt: $797,566 (A $286,275 mortgage on our house, a $509,291 mortgage on our investment property, and $2,000 in credit card debt.)
Paycheck Amount (Fortnightly): $2,000.
Investment Property Mortgage: $2,000. This is covered by my rental income ($650/week).
Utilities: $200 (Electricity, gas and water)
Health Insurance: $110
House and Car Insurance: $100
Medical Costs: $250
Kids Activities (Ice Skating and Ukulele): $200
Fortnightly Cleaner: $192
Savings For Travel: $150
Dance Classes: $136
Personal Money: $700. I use this to pay for clothes, makeup and entertainment.
Did you participate in any form of higher education? If yes, how did you pay for it?
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
What was your first job and why did you get it?
Did you worry about money growing up?
Do you worry about money now?
At what age did you become financially responsible for yourself and do you have a financial safety net?
Do you or have you ever received passive or inherited income? If yes, please explain.
Yes. My parents generously provided us with $30,000 to purchase our house. I also received $3,000 when my grandparents passed away — this went towards dentistry for our oldest daughter. My parents will also occasionally gift us some money for purchases and are putting money aside for our daughters.