Inside a Week: A Fintech Worker’s €55K Life in Dublin

The Journal’s “How I Spend My Money” series offers an in-depth look at the financial habits of individuals in Ireland. This week, we feature a fintech worker in Dublin who earns €55,260 annually. The account provides insights into his spending patterns, savings strategies, and lifestyle choices over one week.

Financial Overview

The 32-year-old worker has developed a savings mentality thanks to early lessons from his mother about the value of money. By the beginning of 2025, he reported savings of €65,000, partly bolstered by a lucrative overtime scheme his employer offered in 2023 and 2024. Currently residing in a central Dublin location, he enjoys easy access to transport and amenities, which he values greatly.

Despite considering home ownership, he acknowledges that affordable options are often far from his current residence. He is also learning to drive, which he recognizes is essential if he plans to move to a more distant location in the future. His savings goal for the year is €10,000, split evenly between his savings account and pension contributions. He intends to take advantage of tax refunds by maximizing his pension contributions, hoping to receive approximately €3,500 back in January.

His monthly net income stands at €3,625, while his expenses remain manageable due to his current living situation. Here’s a breakdown of his monthly costs:

• Rent: €750
• Gas: €50
• Electricity: €0
• Phone Bill: €15
• Gym Membership: €22.50
• Health Insurance: €0
• Pension Contribution: €229
• Groceries: €100
• Subscriptions: €28.14
• Support for Mother: €216.67

A Week in Review

The week kicked off with a memorable concert experience. After attending an Oasis concert, the worker found himself waking up on Monday feeling the effects of a late night. Despite this, he managed to ease into the work week from home, tackling admin tasks while sipping coffee. His first expense of the week came from a trip to the local supermarket, where he spent €6.99 on coffee and €8.30 on energy drinks, followed by a discounted dinner for €2.45.

On Tuesday, he focused on meal prep, spending €14 on groceries while returning bottles for a small refund. His day consisted of productive work hours, GAA training in the evening, and a healthy dinner of chicken jalfrezi.

Midweek brought a visit to the office where he had a significant meeting with a mortgage advisor. Feeling accomplished after the meeting, he received a positive assessment of his eligibility for a €221,000 mortgage—though he recognized that the amount would not stretch far in Dublin’s housing market. Later, he impulsively bought a ticket to see Queens of the Stone Age for €40, adding excitement to his week.

Thursday was marked by a team workshop and lunch at a Nepalese restaurant. He opted out of drinks to prepare for GAA training later that evening, demonstrating his commitment to maintaining a balanced lifestyle. His day concluded without any spending.

Friday brought a busy workday leading to post-work drinks. After sending €70 to his mother for her upcoming dinner, he enjoyed free food and drinks at the office before heading out with friends, where he spent €19.80 on drinks.

The weekend ushered in more social activities. A breakfast outing with his father and a friend cost €10.90, while preparations for his girlfriend’s arrival included grocery runs and a dinner bill of €100. They attended a concert that night, where he spent €26.60 on drinks, foregoing the last train home for a taxi ride instead.

By Sunday, the worker found himself recovering from a busy weekend. After a family roast, he spent €9.85 on snacks for a relaxed evening at home, bringing his weekly total spending to €277.54.

This experience highlights the financial and social dynamics of living in Dublin on a €55,260 salary. The worker’s thoughtful approach to savings and spending reflects a balance between enjoying life now and planning for the future.

“Life is for living!”

In summary, this week was not representative of a typical routine, largely due to the concerts and social events. The worker remains aware of the challenges posed by Dublin’s housing market and contemplates his next steps regarding home ownership. His candid insights contribute to a broader understanding of financial management within the context of modern urban life.