In our money talk we talk openly about money. This time with Simone, 43. She is a self-employed life and social counselor in Vienna.
"You don't talk about money" - this is especially true in Austria. Most of us keep our own salaries a secret. We are confronted with our finances every day. Where has the 100 in the wallet gone? How do other people manage to put something aside? And how much do the colleagues who sit with me in the office actually earn? Last but not least, this secrecy when it comes to income means that women still do not earn as much as their male colleagues. We say we should talk about money urgently! That is why in this series we ask women in a wide variety of professions about their financial situation. In the current part of our financial series, life and social counselor Simone, 43, speaks openly with us about her income and how much she spends each month. The entrepreneur is married and has a nine-year-old son.
WOMAN: What exactly do you work?
Simone: I am a women coach, life and social counselor and professional popotreter with a heart.
How can you imagine a normal working day?
Simone: They are very variable in terms of content. But each and every one of them starts with a detailed morning routine: I meditate, do sports and prepare everything for breakfast with the family. Most of the time I work when my son is at school, i.e. between 8 a.m. and 2 p.m. During this time I have an average of two individual coaching sessions in which I help women to change their lives and business for the better. I often have network appointments with colleagues from the field of mindset, coaching, personal development or finance. Of course, strategic work is not neglected either: I work on the long-term strategy of my company and do operational things such as newsletters, blog articles, social media support, etc. I always spend the afternoon with my child, we are as much and as often as possible in the nature. In the evening I have group coaching two to three times a week or I am a guest in discussion groups. Otherwise I spend the evening with my child, read very often and before I go to bed I meditate and write in my gratitude diary. I always keep Friday free.
What training (s) did you do?
Simone: I am an international graduate in business administration and a diploma in life and social counseling.
How important is your job in your life?
Simone: I have the great pleasure that my life and my calling are reflected in my job. In this respect, it is a wonderfully large proportion.
How important is money to you?
Very important. Without money, I can neither invest in my personal development nor in my business. With more money I can help more people and thus make this world a little better. I can also pass on a lot more money when I have it myself. In the form of donations etc.
Has Corona hit you professionally and financially? If so, to what extent?
Simone: I have continuously positive development in my business, even in the Corona year, which is due to the fact that I did a lot online in advance and was therefore already well positioned.
How much do you earn?
As an entrepreneur, this varies a lot and has been between 3500-6000 net in the last few months.
How satisfied are you with your income?
Simone: I'm always happy and satisfied in the here and now, and I have just as big visions in which even larger monetary resources play a role.
How much are your private fixed expenses?
Simone: 3,000 euros.
Do you have a private pension plan? If so, why and how much do you spend on it each month?
Simone: I still have life insurance that I took over from my parents, but I have this for nostalgic reasons, not economic ones. I believe that good investments are better retirement savings for me. I am currently investing around € 500 every month. But that can vary from time to time.
Are you saving money If so, how do you put it on?
Simone: I mainly invest in my personal development (education, courses, seminars, travel, books …) and otherwise I try to diversify very well (stocks, bonds, raw materials, crypto, etc.)
What do you like to spend most of your money on?
Simone: My personal development.
How much is left at the end of the month?
Simone: It depends on how much I invest.
What would you like to have but can't afford it?
Simone: At the moment, definitely more investments in my company for growth and scaling.
How good are you with money? And how do you keep an eye on your finances?
Simone: I think that I can handle money quite well, although there is certainly potential for improvement in terms of the structure in the area of accounting. I am very happy to have a wonderful tax fairy. I do my accounting every month, every quarter with the tax advisor, so I always have a good overview. My costs and income are broken down in pretty detail and I am trying more and more to the "profit first" concept according to successful entrepreneur Mike Michalowicz for unconventional bookkeeping, in which the focus is on profit instead of sales in the strategy and in the monthly "billing mania".
Do you know how much your colleagues in the industry earn?
Simone: I have a very good overview of the industry, although it varies extremely, from below the subsistence level to € 600,000 a month, everything is included.
Do you talk to your friends about your finances?
Simone: With one part, yes. Especially in a collegial environment and with new friendships. But I can't talk to everyone about it.