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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 marketing advisor, living in Essex. After saving throughout the pandemic, my boyfriend M and I bought our first house in 2021. We did this together, without any help from our families. Apart from our mortgage, neither of us have any debt, so after we have paid our utilities and mortgage, our disposable income is left to do whatever we would like with. We both work from home, so often head to coffee shops to get out of the house.
I’m trying to build a better attitude towards my finances, and I’m researching ways to invest, like better saving account options, and on decreasing my impulsive spending.”
I’m trying to build a better attitude towards my finances, and I’m researching ways to invest, like better saving account options, and on decreasing my impulsive spending.”
Occupation: Digital marketing advisor
Industry: Local government
Age: 24
Location: Essex
Salary: £33,236
Paycheque Amount: £2,769
Number of housemates: One, my boyfriend M (and our cat P).
Pronouns: She/her
Industry: Local government
Age: 24
Location: Essex
Salary: £33,236
Paycheque Amount: £2,769
Number of housemates: One, my boyfriend M (and our cat P).
Pronouns: She/her
Monthly Expenses
Housing costs: £880 mortgage
Loan payments: None
Savings: £7,000
Pension? £180
Utilities: £133 council tax; £60 energy; £45 water; £50 broadband.
All other monthly payments: £13 pet insurance; £11 phone. Subscriptions: £10.99 Spotify; £8.99 Netflix; £8.99 Kindle Unlimited; £2.99 Google drive.
Loan payments: None
Savings: £7,000
Pension? £180
Utilities: £133 council tax; £60 energy; £45 water; £50 broadband.
All other monthly payments: £13 pet insurance; £11 phone. Subscriptions: £10.99 Spotify; £8.99 Netflix; £8.99 Kindle Unlimited; £2.99 Google drive.
Did you participate in any form of higher education? If yes, how did you pay for it? No, I left school straight after A levels.
Growing up, what conversations did you have about money?
My parents were teenagers when they had me, so we often relied on family loans, credit cards and frugal living. Working in retail, they didn’t have huge incomes, but we got by. Growing up, we didn’t discuss managing finances at all.
My parents were teenagers when they had me, so we often relied on family loans, credit cards and frugal living. Working in retail, they didn’t have huge incomes, but we got by. Growing up, we didn’t discuss managing finances at all.
If you have, when did you move out of your parents’/guardians’ house? I moved out at 21.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life? I started working at 15, but I would say I became completely financially independent when I bought my house at 21. Now, my boyfriend and I split our home finances, including utilities, our mortgage and most weekly food shop costs.
What was your first job and why did you get it? My first job was waitressing when I was 15. Finding a job as soon as possible was important for me, so I had my own money and relied less on my parents. I wanted to buy gig tickets without needing to ask!
Do you worry about money now? More than I used to. I’m noticing items becoming more expensive, and disposable income isn’t going as far as it would a few months ago.
Do you or have you ever received passive or inherited income? No.
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