Financial Diary of a Millennial: How a Sydney Project Manager Won $100,000 Budgets Every Month


A 28-year-old project manager who earns $100,000 a year gave insight into how she budgets her money each month.

The owner of the house, from Sydney, earns $5,297 a month after taxes, mandatory student loan repayments and a superannuation.

WATCH THE VIDEO ABOVE: How a 28-year-old woman spends her salary

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Her long-term financial goals are to “top up” her emergency fund and save money for a $3,000 vacation at the end of the year.

Finance expert Téa Angelos, founder and CEO of Smart Women Society, explained how the young woman approaches her budget.

A 28-year-old project manager who earns $100,000 a year gave insight into how she budgets each month. Credit: Smart Women’s Society / TikTok

“This is how a 28-year-old woman spends her $100,000 salary in Sydney,” Téa said in a TikTok video.

Téa has created a series of “Budget Breakdown” videos to provide insight into how millennials are spending their hard-earned cash.

Living expenses

In one of her latest videos, Téa presents the case study of a 28-year-old project manager from Sydney who spends around $4,215 per month on living expenses.

The woman’s debts include $2,200 on her mortgage payments and her $32,000 HECS, which are automatically deducted from her salary.

The woman – who owns her car – spends $30 on her phone, $250 on transportation – including train and fuel – $70 on internet and $500 on insurance.

Although the woman did not mention what her insurance covers, many speculated that it could be her house and car.

Other expenses include $25 on subscriptions, $140 on “health” and $100 on charity.

Once all of her living expenses are covered, her remaining money at the end of the month is $1,082.

Depending on her goals, she sets aside $300 for her emergency fund, $400 for her vacation savings, and the remaining $382 for “fun expenses.”

“Not enough for Sydney’s life”

Her video has been viewed more than 150,000 times, with many saying they were surprised at the “low” amount of money she had for “fun” activities in Sydney.

“Spending $300? For the whole month? Good luck. Cost of fun in Sydney, she will need at least $300 a week,” one woman suggested.

Another asked, “How does someone with $100,000 a year end up with only $95 a week for personal expenses?” It’s not even a party in Sydney.

While one added: ‘$382 spread over the whole month for fun seems way too tight for Sydney’s life.’

Expensive living expenses

Meanwhile, many have suggested the woman should look for ways to reduce her “expensive” living expenses.

“Cut the insurance money she’s getting ripped off from. My annual auto insurance on a $70,000 car is only $650 and my home insurance is $500 a year,” one wrote.

Another said: ‘This budget is unrealistic. You haven’t included money for general expenses like gifts, haircuts, medicine, dentist, new tires, and clothes.

While one man added, “I would ask why the hell am I spending $400 a month on bills. I earn about 70% of her salary and bring in about 80% of what she does.

“Living alone and being an energy user (and my rent is only a few hundred dollars cheaper than her mortgage).

“And after savings, and the same level of bills, I have more money for myself than her.

“The only difference is my ‘health’ and ‘insurance’ is only $300 a month.”


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