Money talks: How a 31-year-old data analyst manages their money
Here’s how a millennial data analyst balances rent, savings, and fun on €3,200 a month.
5 min read
Please note that the interviews do not constitute professional financial advice and are for informational purposes only. For personal financial decisions, you should consult a qualified advisor. Any financial decisions made based on the information provided in the interviews are your responsibility.In this series, we sit down with real people from different backgrounds and professions and ask how they spend, save, and think about their money. Today, we’re talking to a 31-year-old data analyst to find out how she navigates balancing financial security with creative expression, planning for the future, and talking about money with her friends.
The basics
Job title/industry: Data analyst in the insurance industryAge: 31Salary: €61,000 yearly / €3,200 netLocation: Berlin, Germany
Monthly cost breakdown
Rent: €1150 (I live with my partner, and we split rent 40/60 as they make slightly less than me)Groceries: €70 (should be more, but I spend waaay too much eating out!)Takeout: €160 (We’re too lazy to cook during the week)Meals and drinks out: Around €190
Subscriptions
Urban Sports Club: €69Netflix: €14 (I should really cancel this one, we never watch it)Spotify: €11 (sorry, artists!)Masterclass: €10 Dental insurance: €15 (as it’s not covered by my health insurer)Mobile phone: €12
Savings
Investments: €500 (I’ve just started investing in stocks)Pension: €300 (via my company pension scheme)
What is your first memory of money?
As a kid, I had one of those plastic cash registers. You’d slot money into it and crank a handle on the side to open the money drawer. I loved asking people for money and giving them ‘change’ in return. Later, as a student, I got a job as a cashier at a supermarket, but it turned out to be much less fun in real life!
How would you describe your relationship with money now?
If I’m being honest, I don’t really think about money much. I’ve always had enough to ‘get by,’ and I’ve not really been interested in chasing a super lucrative career and making loads of it. Apart from spending quite a lot of money on food, I’m not a massive splurger, so I think that helps.
What’s the best financial decision you’ve ever made, and what impact did it have on your life?
I really hate to say it, but probably not pursuing my teenage dream of becoming a musician. I have a few friends who followed this path, and financially, it’s been quite challenging for a few of them. Going the analyst route has, at least financially, been a good decision that’s meant I’ve not had to worry about money for most of my adult life so far. But am I as creatively fulfilled as my musician friends? Absolutely not. Do I get jealous when I see them post photos of their gigs or share their most recent songs? 100%! But I guess I chose security over a more risky, creative lifestyle.
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Have you ever experienced financial stress or hardship? How did you cope with it?
I’ve been fairly lucky in that I’ve always had quite a stable stream of income, and my expenses have never been particularly high. I guess being a student was when I had to be the most careful with how I spent my money, but that wasn’t too difficult as none of my friends had any money either!
Are there any money topics that keep you up at night?
My partner and I often talk about the future, but getting enough money to save for a house deposit or a wedding seems like it’ll be out of reach for quite a while. We’d also like to start thinking more seriously about whether or not we want children in the next few years, and that will also be a big financial shift for us, one I’m not sure we’re ready for yet. When I think about achieving some of these more ‘classic’ milestones and how long it’ll take us to reach them, then I can get a little anxious.
Are you saving for anything currently?
Well, in theory, saving for a deposit for an apartment! But, in reality, neither of us has really committed seriously enough to this goal to be saving in any consistent way. But, if we decide to go all-in on the buying a home, getting married, and having kids route, we’re going to have to start getting a bit more serious about saving.
Do you discuss finances with your friends or family?
With my partner, yes. Neither of us find it particularly hard to talk about, but maybe that’s because we don’t put a huge value on making lots of it? When it comes to my friends, it depends. I have some more “high-flying” friends on quite large salaries but they don’t delve too much into the specifics. Then I have a bunch of friends who aren’t making too much and often share exactly how much they’re making compared to their rent/general expenses. Which, thinking about it, is kind of interesting I guess!
What role does money play in your overall sense of happiness and fulfillment?
I’m fairly cheap to run, so just having enough to feel comfortable while occasionally indulging in an expensive meal or a haircut here and there is enough for me. I don’t really buy into the whole money equals happiness idea, but then again, I’ve been privileged enough never to have to worry about paying the bills.
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