Isabelle,11,295 € for two: Real estate investment - my weakness..

How to effectively manage money when you have two (very) high salaries? Is investing in real estate reliable? This week in "Règlement de comptes," we address these and other questions. Talking about money in France is still taboo. However, it is an intriguing and (to some extent) feminist topic! In "Règlement de comptes," people from various professions reveal their financial budgets, share their financial organization in marriage or alone, and discuss their relationship with money. Today, Isabelle* has agreed to break down her finances for us.

Name: Isabel*

Age: 39 years

Profession: Chief Financial Officer

Net income before tax deductions: €7,750 for her and €3,510 for her husband.

Net income after tax deductions: €6,587.5 and €3,210

Family members: her husband and two children

Place of residence: Paris region

The situation and income of Isabel

Isabelle, 39 years old, holds the position of Chief Financial Officer. She works as a civil servant but also has private collaborations in the fields of education and consulting. Her job requires frequent travel and interaction with many colleagues. "I love my job. I need to constantly challenge myself with new tasks. Now I want to join the corps to participate in the senior management of the state."

She is married and lives with her husband and their two children, aged ten and four, in a 180 sq.m house in Île-de-France, which they have owned for eight years. In her position as a financial director, as well as through her private collaborations, Isabelle earns a net salary of €7,750, reduced to €6,587.50 after income tax. Her husband earns a net salary of €3,210 after taxes. For their two children, the CAF pays €35 in family benefits monthly. Thus, the family's total income amounts to €11,295. "I believe that compared to my position, I am not receiving adequate compensation for my doctorate and professional experience, but this is a conscious life choice."

An independent woman who has achieved success "through her own hard work," Isabelle acknowledges that she is "satisfied with her position in the organization." She also admits that her private collaborations in the private sector "raise her income to an interesting level." "This allows me to undertake projects and provide my children with a different view of the world and other opportunities."

Isabelle's attitude towards money and her financial organization

Isabelle grew up in a family where her parents had opposite attitudes towards money. "My father was a spender, while my mother strictly controlled expenses, almost in a military manner." A "minimalist" by her own words, Isabelle also defines herself as "a mix of her parents": she doesn't deprive herself of anything, but she doesn't particularly desire much either. "My attitude towards things is special: I have a daily bag that I bought three years ago from Longchamp, an old shoulder bag from ten years ago for the weekends, and that's enough for me. I buy clothes and shoes that last a long time, and I replace them when they fall apart; sometimes I take them to the cobbler for repairs. I really don't like filling my home with things, having too many possessions, a cluttered house."

However, she admits that she has a "bad tendency to invest in real estate." "I have several properties that are almost self-sustaining, so they are not part of my income and expenses." In her opinion, "this lack of desires and needs naturally leads to easy financial control without a sense of restriction." She never finds herself in the red; she "spends what she has," but she doesn't mind the idea of taking out a loan if it allows her to expand her property over time. That's why she invests in real estate.

As for their financial organization, Isabel and her husband have a joint account that they use to pay for shared expenses. "I alone pay the mortgage because my salary is twice his, which ensures balance, and we equally share the costs of housing and current expenses. I manage and finance the overwhelming majority of major projects, while my husband pays for minor repairs."

Isabel's expenses

Isabelle and her husband pay a monthly mortgage of €2300 for their 180 sq.m house in the Paris region, which is their largest expense. Their current bills (electricity, heating fuel, and water) amount to €344 per month, while they pay €141 for insurance (for two cars, home insurance, and school insurance). Other regular expenses include the cost of an internet subscription (€52 per month), three mobile phone plans totaling €35 per month, and bank fees of €10.8 per month. As homeowners in Île-de-France, Isabelle and her husband must pay property tax every year. Not calculated monthly, they need to pay €3407 this year, which breaks down to €284 per month.

To feed four people, Isabelle and her husband have a comfortable budget of around €600 a month. In the past, she preferred organic food stores, but now she prefers to shop at chain stores like Carrefour. Additionally, she buys fruits and vegetables at Grand Frais and meat from the butcher. "My husband is a meat lover." However, she still buys eco-friendly household products. "As for the rest, I don't like shopping, so I buy everything online. I don't focus on price; I focus on the quality of the products. I almost never buy ready-made meals because it's important for me to control and reduce the amount of preservatives in my children's diet. By the way, when they were little, I always made them purees, yogurts, and used cloth diapers. Of course, this requires special organization."

In addition to the budget for food, they also spend 300 euros a month on lunches at the cafeteria for the children and Isabel's husband. She prefers to bring food to work or go to a restaurant. The family also pays for childcare services: 131 euros for supervision and 50 euros for occasional babysitting. "Women's" expenses amount to about 35 euros in Isabel's budget - she pays for her purchases of face cream, lotion, and menstrual hygiene products on her own. In the end, Isabel notes that she spends an average of 500 euros a month on home repairs. "We are not very good at doing everything ourselves and almost always hire companies. Last year, for example, we spent 20,000 euros on renovating the bathroom and toilet, and this year 1,500 euros on painting."

Isabel's entertainment expenses

Isabelle and her family have an entertainment budget of about €455. €200 is entirely dedicated to children's activities: horseback riding lessons, conservatory for the family's daughter, as well as English lessons at a private school and swimming for the two children. Isabelle's husband spends about €100 a month on sea fishing and tennis. Isabelle, on the other hand, has few paid hobbies: she enjoys hiking and borrows books from the library. She spends about €5 a month on herself. The remaining €150 of the entertainment budget is spent on dining out and attending children's performances. "I believe it's important to offer my children activities outside of school. They are confident, open, and sociable, they know a lot and speak well. Yes, I am satisfied with how they are developing, and I hope to continue opening new horizons for them."

If Isabel spends little on her everyday entertainment, she admits that she has a passion - traveling. "I love to travel, and I have to do it because my family lives all over the world." This year, the family spent €10,000 on a two-week trip to Canada, €2,000...