Money Diary: A Database Assistant In Edinburgh On £28,000

This week: “I’ve just turned 27, I’m single and working for a university in a database management role. I’ve worked here since January, having worked in the charity sector prior to this since graduating. I’m about to buy my first flat (with a very generous gifted deposit from my parents), but I’m currently renting with a flatmate. I used to be terrible with money throughout my early-to-mid 20s — too much partying and not enough checking my bank account! It’s totally at odds with how I was as a child, as I used to save all my birthday and Christmas money in my piggy bank and not spend any of it. I decided to quit drinking about a year ago (after thinking about it for a long while) which has had a hugely positive impact on me in every way — emotional, physical and of course financial. Through this I’ve rediscovered my love of saving and budgeting, and I’m much better with money now. I’ve never been in a serious relationship which does worry me a bit as I get older, as I would like to settle down eventually, but I have a good group of friends and I’m pretty happy the way I am. I’m quite independent and don’t really like the thought of being financially dependent on a partner. I love the idea of having my own place, and I’m really looking forward to this next stage of my life.”

Occupation: Database assistant
Industry: Higher education
Age: 27
Location: Edinburgh
Salary: £28,000
Paycheque Amount: £1,792.09 after deductions
Number of housemates: One, K
Pronouns: She/Her

Housing costs: £440 for rent which includes council tax. This is very cheap for Edinburgh and from my approximate calculations so far, will increase to approximately £625 when I move into my flat (this includes mortgage, council tax and insurances).
Loan payments: Student maintenance loan £2 (thank you, Scotland).
Savings?: £5,000 in a LISA which is being used to purchase the flat I’m currently in the process of buying. A woeful and doleful £31 in crypto (this used to be more), and £120 in ETFs.
Pension?: I’m lucky enough to be in the Local Government Pension scheme so I pay 5.8% and my employer pays 24.7%.
Utilities: We pay for what we use so it’s been about £50 each recently.
All other monthly payments: £12.99 Youtube Premium; £8.99 Amazon Prime; £9.49 Kindle Unlimited; £37.99 Bumble Premium; £0.79 phone storage; £24.99 Skin + Me Daily Doser.

Did you participate in any form of higher education? If yes, how did you pay for it?
I went to university straight after school for four years, with free tuition as I’m in Scotland. I was only eligible for the minimum loan to live on so I took this and did call centre work throughout it to supplement my income (and because I could choose my shifts, which meant I never had to work when I wanted to party…).

Growing up, what kind of conversations did you have about money?
Honestly, I don’t really remember many conversations about money at all. I actually had no idea what kind of money my dad earned until a few years ago. He was the breadwinner and my mum stayed at home throughout my early childhood and worked in part-time jobs from when I was around 10. We weren’t handed things on a plate and I would do jobs round the house to earn a few extra quid.

If you have, when did you move out of your parents’/guardians’ house?
I moved out at 18 for uni then spent the next six years going between various student halls and flats and moving home for periods of time in between. I moved into my current flat in June 2020 and as I’ll be buying my own flat soon, hopefully I won’t be moving back to my parents’ house again!

At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I’d probably say I became financially responsible for myself at 23 when I moved into my current flat, though obviously they generously gifted me the deposit for the flat I’m about to buy.

What was your first job and why did you get it?
In my second year of uni I got a job in an absolute cliché of an outbound call centre, where we were cold-calling random people and trying to persuade them to get new windows.

Do you worry about money now?
Whenever I’ve been in any sort of credit card or overdraft debt I’ve hated it and paying it off was always in the back of my mind. Now I’m lucky enough not to be in any debt, I’m taking this as a last chance to not get into any again. I think I don’t worry as much as some other people might as I’m in a very lucky situation where I know my parents would help me if I ever needed it, which I’m so grateful for.

Do you or have you ever received passive or inherited income?
£25,000 for my flat deposit. Also, my mum gifted me £1,000 from the sale of my grandad’s house when he died and I spent some of this on driving lessons which I didn’t do well in and I still haven’t passed my test. I am hoping to restart these again at some point!