A Charity Fundraiser In The East Of England On £38,000

This week: "I'm 27 and live in a small town about an hour outside of London. My partner, M, and I bought our house almost two years ago and even though the housing market seemed crazy then, I'm very grateful that we took a leap and bought when we did. The crazy interest rates mean we would struggle to get the same size house if we were trying to buy now. Right after buying the house, my first priority was rescuing a dog. R is a total princess and she's brought so much light and fun to our lives. We probably overspend on nice food, clothes and activities for her but she's worth it. Beyond being a dog parent I try to save money for travelling, and we have some big travel plans this year that were meant to happen way back in 2020. Prioritising spending on things that bring me real enjoyment (like the dog, books and holidays) definitely matters to me and helps me be conscious about unnecessary day-to-day purchases."

Occupation: Fundraiser
Industry: Charity
Age: 27
Location: East of England
Salary: £38,000
Paycheque amount: £2,256.82 after tax/NI/pension.
Number of housemates: One human, M, and one dog, R.
Pronouns: She/her

Housing costs: £550 for my half of the mortgage.
Loan payments: £80 student loan payment comes out pre-tax.
Savings? £7,500 in an easy access saver, £800 in a holiday Monzo pot.
Utilities: £50 gas and electric, £21 water, £92.50 council tax (all my half).
Pension? I pay 6% and my employer pays 5%. I have a few pension pots floating around from previous jobs that I need to consolidate.
All other monthly payments: £14.82 house and life insurance, £23 pet insurance, £32 dog food, £8 SIM-only phone. Car insurance and tax paid annually, about £250 for my half. Subscriptions: £40 gym, £15.99 Netflix, £5 Battersea Dogs and Cats Home, £4 Focusmate, £12 contact lenses, £19.40 Cineworld Unlimited. Yearly subscriptions: £95 Amazon Prime, £79.90 Disney+, £17.99 Nintendo Online.

Yes, I studied a humanities degree at university. I took out student loans for the fees and the minimum amount of maintenance loan. My parents paid my rent and living expenses for the three years I was studying, which I topped up with the maintenance loan and a part-time job in a supermarket.

Although we did have conversations about money, I only became fully aware of how privileged my upbringing was in the last few years. My parents had well-paid, professional jobs, we had foreign holidays every year and we never went without. My dad is very careful with money and I’m really grateful for the advice and guidance he gave me growing up. We were taught the importance of saving, never taking on debt you can’t afford, paying into a pension and investing. 

I moved out of my parents’ house when I was 23. 

I became financially responsible for myself when I moved to London at 23. Now that I’m living with my partner and splitting expenses, it's definitely easier for me to live comfortably, but I know I could still be financially independent if I were on my own.

I worked for an after-school tutoring company in sixth form. Easiest £5 an hour I’ve ever made!

Sometimes. Day to day I feel fine about where I am financially but with mortgage rates going up, owning a house feels like a big financial responsibility, especially with the price of everything else rising too. I’m able to save money every month but I’d love to be able to increase this and I want to start investing too. 

I lived at home rent-free for two years after graduating, which helped me to save towards a house deposit. I’ve also received about £15,000 over the years from children’s savings bonds and gifts from grandparents and other relatives — almost all of this contributed towards my house deposit. I’m very aware of the leg up this has given me and I’m eternally grateful.