It's Pay Day! The ABC's new column where we ask Australians the money questions we don't like to talk about. We aim to demystify personal finance and normalise conversations about what we earn and how we save it — or spend it.

Luke Springer — or Mr Luke as he is known to his 1.8 million TikTok followers — is a primary school teacher, social media creator and self-described "big kid" from South Australia. After a short stint studying business, he landed the job he now believes was his destiny. His viral videos offer a window into the kindergarten classroom and the often hilarious reality of educating "tiny humans".

For Pay Day, he reveals the valuable money lessons he learnt from his parents, the splurges he refuses to give up, and how getting called upon by a debt collector paved the way for an important financial victory. 

How would you describe your financial situation right now?

I consider myself extremely fortunate. I'm lucky enough to have a job that I absolutely adore, which not only brings me a lot of joy but also allows me to live comfortably without too much worry over my finances.

When it comes to spending, I don't go for overly lavish or extravagant things. Sure, I might have a bit of a soft spot for buying a few too many plants every now and then, but on the whole, my spending habits are pretty grounded.

For me, it's all about finding that sweet spot between enjoying the present and being smart about the future. It's not just about having enough for today but also ensuring stability and flexibility for whatever comes down the line. I could definitely be saving more than I currently am — or paying more off the mortgage, of course.

How was money spoken about in your house growing up?

My parents were hard workers, no doubt, and we chose to celebrate those efforts. Money in our household didn't just come and go; it flowed in as a testament to hard work and flowed out in a stream of joy, enabling a lifestyle that I can only describe as genuinely enjoyable.

They had this incredible knack for making life feel like an adventure. The fruits of their labour were not just saved for rainy days but were also spent on creating sunny memories — be it through travelling overseas or simply indulging in the pleasures of life.

From this vibrant backdrop, I learnt that money wasn't merely a tool for survival but a means to enrich our lives. As I grew older and started earning my own money, I like to think I carried those lessons with me — that it's possible to be responsible and adventurous at the same time.

About how much of your income goes towards your rent or mortgage each week?

Roughly 25 per cent of my fortnightly pay cheque goes towards paying off my mortgage. However, I do throw a bit more at it every now and again.

What has been your biggest financial disaster?

While I pride myself on a somewhat disciplined approach to budgeting and often rely on automation for managing my finances, this system led to my biggest financial oversight. There was a period when, unbeknownst to me, my car loan payments ceased to be deducted from my account.

The root of the issue was a move to a new address and my contract needing to be renewed. However, the communication from my loan provider failed to reach me, nor did any attempts to contact me about the halted payments.

This went unnoticed for a couple of months and I was under the impression that my payments were proceeding as usual. It wasn't until a debt collector unexpectedly reached out that I realised the gravity of the situation — I had fallen a couple of thousand dollars behind on my car loan and now had to pay out the remaining balance of just over $10,000.

Fortunately, thanks to my savings, I was able to rectify the situation. I now own my car, a nice little win to come from such a debacle. This resolution, while relieving, was a critical learning curve in my financial journey. It underscored the importance of attention to account transactions and the need for proactive communication with financial institutions, especially during life transitions like moving homes.

What's your guilty splurge?

It's a tie between my weekly meal plan membership, an ever-growing collection of plants, and a steadfast commitment to premium coffee beans for my espresso machine.

Starting with the meal plan, it's less about indulgence and more about practicality, intertwined with a hint of luxury. Having a curated menu delivered to my door saves me invaluable time and energy — time that I can then redirect towards activities I love or simply unwinding after a long day. It also navigates the issue of food wastage, a problem I've grappled with when cooking for one.

Then there's my slight obsession with plants. Despite telling myself I have enough greenery to start a small jungle, I find it nearly impossible to resist adding a new leafy friend to my collection.

Lastly, investing in high-quality beans for my espresso machine is a non-negotiable weekly treat. There's something deeply satisfying about starting my day with a perfectly brewed cup, made from beans that have been chosen with care. This ritual serves as a daily reminder to appreciate the finer things in life, even if it's just a cup of coffee. I will say though, since investing in an at-home coffee set-up, the amount of coffee I now get out has dramatically decreased! So that's got to be a win!

Have you ever kept a secret about money?

There are no scandalous secrets, hidden Swiss bank accounts, or lock boxes in my financial history. My approach to finances has been characterised by transparency and a sense of openness, especially given the nature of my government job, where my annual salary is readily accessible through a quick online search.

This candidness extends to my family, particularly in discussions with my siblings. We've normalised having open conversations about finances and supporting each other through our financial journeys. Whether it's sharing insights on savings plans, investment strategies, or navigating financial challenges, these discussions are a regular part of our relationship.

It's fostered a supportive environment where we can all learn from each other's experiences and perspectives. It's not just about offering advice; it's also about celebrating milestones together and providing a listening ear during tougher times. This mutual support system has enhanced not only our financial health but also strengthened our bonds as siblings.

How much was the last loaf of bread you bought?

Helga's Pumpkin Five Seed Bread from Coles: $4.90.

Cash or card?

Most of the time, these days, I only have my phone on me and leave my wallet with my cards at home. It's almost as if the collection of notes in my wallet has become more of a permanent fixture than functional currency.

It's been so long since I last used cash for a purchase that I genuinely struggle to recall what that transaction was. Even when I recently travelled overseas, I didn't change over any currency! (I probably should have for safety, but I made it the entire trip without cash and felt very comfortable doing so.)

How many bank accounts do you have? How do you organise your money?

I currently manage four distinct bank accounts, each serving a specific purpose:

My offset account acts as my primary savings account. It reduces the interest I pay on my home loan, while still giving me instant access to my funds if needed.

A billing account is solely for handling regular bills and expenses. By allocating money into this account, I ensure that all my bills are paid on time and that I can easily track my monthly expenses (after the car payment experience, I watch this rather closely now).

And I have two variable mortgage accounts, with the aim of maintaining flexibility in my repayments. 

Each fortnight when I get paid several small deductions come out automatically (anything from $10 to $30) that go towards bills such as gas, electricity, water, rates, phone, and internet. These small amounts mean a smaller hit when each bill is due. It works really well for me, although I'm sure I could stop doing that and leave the money in my offset account until it's due.

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What's your biggest financial achievement?

Purchasing my own property in my mid-20s stands out as my most significant financial milestone. The timing and circumstances aligned perfectly — I found a place that was just right for me, buying off the plan in an ideal location at the time.

Opting for a modest dwelling — a simple two-bedroom, one-bathroom, single garage — taught me that contentment doesn't necessarily come from sprawling square footage but from creating a home that reflects my personal style and meets my needs. It's a sanctuary that offers joy and comfort in its simplicity.

Another achievement I'm proud of is owning my car outright. This accomplishment — although marred by a slight hiccup along the way — has not only been a practical win, but a significant personal victory as well.

If you could tell 18-year-old you one thing about money, what would it be?

That the key to financial freedom lies in simple, effective budgeting and a balanced perspective on the role of money in life.

Mastering the art of simple budgeting can be a game-changer. Understanding your finances doesn't require complex formulas or strict deprivation, but rather a balanced, realistic view of your income and expenditures.

I'd also stress the importance of maintaining a healthy relationship with money. It's easy to let financial concerns dominate your thoughts and dictate your happiness, but it's crucial to find a balance. Where possible, money should serve as a tool to achieve your dreams and support your well-being, not a source of constant worry or stress. Learning to manage it wisely, without letting it consume you, can lead to a more fulfilled and less anxious life.

Luke Springer's first children's book, Guess What We Are Doing Today?, is available for pre-order now.