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Welcome to Money Diaries, where we're tackling what might be the last taboo facing modern working women: money. We're asking a cross-section of women how they spend their hard-earned money during a seven-day period – and we're tracking every last penny.
This week we're with a 28-year-old Executive Assistant at an investment bank in the City of London. When she moved to the capital she lived first with her sister, then her uncle and, after four years, managed to save up enough for a deposit on a flat – although she does now miss being bill- and rent-free!
She tries to spend less by exploring the free things that London has to offer but invariably winds up in a pub en route... so it doesn't always work out so well...
Industry: Banking
Age: 28
Location: London
Salary: £43,100
Paycheque amount per month: I got a 2% inflation pay increase in March but haven’t had a full paycheque yet as our business changed companies mid-month. I think it will be around £2,385 – will find out end of April! I also make a 2% pension contribution.
Number of housemates: 0
Age: 28
Location: London
Salary: £43,100
Paycheque amount per month: I got a 2% inflation pay increase in March but haven’t had a full paycheque yet as our business changed companies mid-month. I think it will be around £2,385 – will find out end of April! I also make a 2% pension contribution.
Number of housemates: 0
Monthly Expenses
Housing costs: Mortgage £845.08/ Service charge £100
Loan payments: Student loan £179 – deducted from my paycheque before I get it.
Utilities: Internet, landline & BT TV £34.99/ Gas & electric £54/ Water £25.74/ Council tax £84.10/ TV licence £12.12
Transportation: £110 for travel card from Penge to London: my commute works out at £2.60 each way. My dad loaned me the money for the yearly travel card as it worked out a lot cheaper than paying weekly or monthly, and I pay him back the £110 per month.
Phone bill: £27.99
Health insurance: £45 – deducted from my paycheque before I get it.
Savings: I have a few online accounts where I try to put a bit of money each month: £150 holiday, £50 birthday and Christmas, £20 for wedding fund (I have a couple of weddings coming up in the next year that I’ll need travel, hotel and gift for), £30 student loan (I’m hoping to have finished paying it back before I turn 31 so if I can overpay a bit for the next couple years I should be able to).
Other: Netflix £7.49, Amazon Prime £7.99, Gym £27.99, Spotify £9.99.
Insurance: Home £18.56, life £12.99, buildings £12.73.
Loan payments: Student loan £179 – deducted from my paycheque before I get it.
Utilities: Internet, landline & BT TV £34.99/ Gas & electric £54/ Water £25.74/ Council tax £84.10/ TV licence £12.12
Transportation: £110 for travel card from Penge to London: my commute works out at £2.60 each way. My dad loaned me the money for the yearly travel card as it worked out a lot cheaper than paying weekly or monthly, and I pay him back the £110 per month.
Phone bill: £27.99
Health insurance: £45 – deducted from my paycheque before I get it.
Savings: I have a few online accounts where I try to put a bit of money each month: £150 holiday, £50 birthday and Christmas, £20 for wedding fund (I have a couple of weddings coming up in the next year that I’ll need travel, hotel and gift for), £30 student loan (I’m hoping to have finished paying it back before I turn 31 so if I can overpay a bit for the next couple years I should be able to).
Other: Netflix £7.49, Amazon Prime £7.99, Gym £27.99, Spotify £9.99.
Insurance: Home £18.56, life £12.99, buildings £12.73.
Total £1,641.76
Available to spend for the month: £743.24
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