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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 24-year-old construction buyer living in the northwest. I have been in this role since I left college at 16 and have had a couple of promotions and pay rises to get me where I am today. I have completed my HNC (a construction course), which the company paid for. I moved in with my boyfriend, L, a year ago after we'd been together for four years. L is currently having a career transition and earns less than me. However, we go 50/50 on all household bills, while I like to treat him to new clothes and the occasional meal out as I prefer spending my money on others than on myself. We are both money-savvy, keeping track of our spending and savings, and giving ourselves a monthly allowance to be spent on whatever we like. I love to travel and try to fit in two or three holidays throughout the year, when I can find good deals. I like to exercise and eat out but also love a cosy night in."
Occupation: Buyer
Industry: Construction
Age: 24
Location: Northwest
Salary: £41,000
Paycheque amount: £2,646
Number of housemates: One: my boyfriend, L.
Pronouns: She/her
Industry: Construction
Age: 24
Location: Northwest
Salary: £41,000
Paycheque amount: £2,646
Number of housemates: One: my boyfriend, L.
Pronouns: She/her
Monthly Expenses
Housing costs: We split our mortgage 50/50 so my half is £550.
Loan payments: £0
Savings? I have £6,000 in an easy access account with different categories which I keep track of in an Excel spreadsheet e.g. car insurance, holiday pot. I also have £8,000 in a Vanguard stocks and shares ISA, which I pay into each month.
Pension? I have a pension pot that currently has £13.5k in. It is an investment pension, which means that I can split the money into different funds with different risk factors, which I did at the start. Of the £13.5k, £2k is due to gaining value on the investment. I pay in 5% while my employer pays in 4%.
Utilities: £34 gas and electricity, £19.50 broadband, £8 water, £113 council tax for my half, this is split 50/50 with L.
All other monthly payments: £20.30 phone, £19.95 dentist, £0.99 iCloud, £15.99 gym, £4 running club, £5.17 life insurance. Subscriptions: £8.30 Spotify, £6 postcode lottery, £5 window cleaner — both shared with L.
Loan payments: £0
Savings? I have £6,000 in an easy access account with different categories which I keep track of in an Excel spreadsheet e.g. car insurance, holiday pot. I also have £8,000 in a Vanguard stocks and shares ISA, which I pay into each month.
Pension? I have a pension pot that currently has £13.5k in. It is an investment pension, which means that I can split the money into different funds with different risk factors, which I did at the start. Of the £13.5k, £2k is due to gaining value on the investment. I pay in 5% while my employer pays in 4%.
Utilities: £34 gas and electricity, £19.50 broadband, £8 water, £113 council tax for my half, this is split 50/50 with L.
All other monthly payments: £20.30 phone, £19.95 dentist, £0.99 iCloud, £15.99 gym, £4 running club, £5.17 life insurance. Subscriptions: £8.30 Spotify, £6 postcode lottery, £5 window cleaner — both shared with L.
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