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Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking every last penny.
This week: "I'm a 40-year-old business manager for a £1 billion revenue energy business. I went away for university at 18 and then accidentally spent 15 years working around the world. I trained as a project manager through a graduate scheme but never had a career plan other than motivation to succeed and knowing I have a natural talent for leadership. I have taken some pretty big gambles with my career, starting by going to work on offshore assets in Africa at 21 and ending up setting up a business entity there. As a result, my career has progressed quickly and I am proud to say I have taken advantage of every opportunity thrown my way.
I met my husband, A, 11 years ago and ended up back in Lincolnshire, where we have settled in a lovely coastal town with our two rescue dogs, D and J. We are child-free by choice although my children are really my dogs and my horse, C, who costs me as much as a child in livery costs. She is my indulgence and my escapism from a pretty stressful and high-pressured job. My husband is a builder and carpenter and we have taken advantage of this by renovating four houses in 10 years, which has led us to be able to purchase a house that would usually be beyond our means. Luckily we fixed our mortgage at a ridiculously low level for five years and still have three years to go so we are overpaying and have 10 years left. The plan has always been to use our house equity to downsize and supplement my husband’s self-employed pension. I would say overall I have a good attitude to money. I know I am lucky with my earning ability but I also work very hard and am sensible while still enjoying life."
Occupation: Business manager
Industry: Energy
Age: 40
Location: Lincolnshire
Salary: £110k plus £7,000 car allowance and £3,000 benefits allowance.
Paycheque amount: £5,680 after pension, salary sacrifice payments of car, life insurance, medical insurance etc.
Number of housemates: One: my husband, A (and our two dogs, D and J).
Pronouns: She/her
Industry: Energy
Age: 40
Location: Lincolnshire
Salary: £110k plus £7,000 car allowance and £3,000 benefits allowance.
Paycheque amount: £5,680 after pension, salary sacrifice payments of car, life insurance, medical insurance etc.
Number of housemates: One: my husband, A (and our two dogs, D and J).
Pronouns: She/her
Monthly Expenses
Housing costs: £2,700 mortgage (I pay £1,800 of this — a higher % because I earn more).
Loan payments: £0
Pension? I contribute 7% and the company contributes 15%. I also pay my bonuses into it, which tops it up. The dream is to retire at 55 so we are working hard but balancing playing hard with saving hard for our future.
Savings? £20,000 in ISA, £9,000 in emergency fund, £3,000 in a holiday fund, £600 in Christmas/birthday pot — A and I contribute equally monthly.
Utilities: £140 council tax, £120 gas/electric, £50 water/sewerage (this is my half).
All other monthly payments: £58 mobile phone, £925 C’s livery bill, £158 charity donations. I also support a dog rescue sanctuary, on average £100-150. Subscriptions: £8 Netflix , £10 Amazon Prime.
Loan payments: £0
Pension? I contribute 7% and the company contributes 15%. I also pay my bonuses into it, which tops it up. The dream is to retire at 55 so we are working hard but balancing playing hard with saving hard for our future.
Savings? £20,000 in ISA, £9,000 in emergency fund, £3,000 in a holiday fund, £600 in Christmas/birthday pot — A and I contribute equally monthly.
Utilities: £140 council tax, £120 gas/electric, £50 water/sewerage (this is my half).
All other monthly payments: £58 mobile phone, £925 C’s livery bill, £158 charity donations. I also support a dog rescue sanctuary, on average £100-150. Subscriptions: £8 Netflix , £10 Amazon Prime.
Did you participate in any form of higher education? If yes, how did you pay for it? I did an undergraduate degree which I funded myself through student loans, including the tuition fees. I cleared all my student loan debt about eight years ago.
Growing up, what kind of conversations did you have about money?
My parents are what they describe as ‘asset-rich, cash-poor’. They were very astute with money when I was younger. We didn’t go on holiday very often — I think three holidays to Europe in 16 years and one to a UK holiday camp. If I wanted to go on a school trip, I had to choose between that and going on a family holiday. My parents are actually very comfortable but have always kept that separate to my sibling and me. We have never had any financial help from them and if I am honest, it means I don’t have to live under their somewhat controlling behaviour so it suits me as I don’t feel that I have to conform because they’ve helped me financially.
My parents are what they describe as ‘asset-rich, cash-poor’. They were very astute with money when I was younger. We didn’t go on holiday very often — I think three holidays to Europe in 16 years and one to a UK holiday camp. If I wanted to go on a school trip, I had to choose between that and going on a family holiday. My parents are actually very comfortable but have always kept that separate to my sibling and me. We have never had any financial help from them and if I am honest, it means I don’t have to live under their somewhat controlling behaviour so it suits me as I don’t feel that I have to conform because they’ve helped me financially.
If you have, when did you move out of your parents'/guardians' house?
I moved out at 18 to go to uni and never moved back.
I moved out at 18 to go to uni and never moved back.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
At 18, when I went to uni. I graduated and got my first job at 21 and saved for a year while renting to buy my first house, which I did at 22. Apart from A, no one else contributes to my financial life.
At 18, when I went to uni. I graduated and got my first job at 21 and saved for a year while renting to buy my first house, which I did at 22. Apart from A, no one else contributes to my financial life.
What was your first job and why did you get it?
At 14 I worked in the local grocer's for £2.20 an hour. I got it because I wanted my own money. We never had pocket money growing up so I knew if I wanted to spend money, I had to earn it.
At 14 I worked in the local grocer's for £2.20 an hour. I got it because I wanted my own money. We never had pocket money growing up so I knew if I wanted to spend money, I had to earn it.
Do you worry about money now?
Not really, no. I am so fortunate to have a great job with an excellent salary, although I work very hard for it. I have a decent amount saved if I need it and I try to balance saving and living for now. Within reason, A and I have what we want and my babies have everything they could ever need so I am pretty happy where I am.
Not really, no. I am so fortunate to have a great job with an excellent salary, although I work very hard for it. I have a decent amount saved if I need it and I try to balance saving and living for now. Within reason, A and I have what we want and my babies have everything they could ever need so I am pretty happy where I am.
Do you or have you ever received passive or inherited income?
My nanna left me £10,000 when she passed away in 2015. A and I put it towards renovating our second house together. I miss her every day — she was my hero.
My nanna left me £10,000 when she passed away in 2015. A and I put it towards renovating our second house together. I miss her every day — she was my hero.
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