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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 37 years old and living in Edinburgh with my husband and dog. We’re about to go through our third round of IVF via the NHS, which was a hard decision to make after two failed rounds but we want to live without regret so we’re giving it one last go. In many ways it feels like we’re doing this round to confirm my infertility and close the door, rather than being filled with hope for a miracle, but we won’t know until we know. In terms of spending, we put £1,500 into a joint account each month and this covers travel, social lives, date nights and miscellaneous expenses like haircuts, acupuncture, therapy, presents, etc. All spending in this diary is on the joint account."
Occupation: Digital marketing manager
Industry: Marketing and comms
Age: 37
Location: Edinburgh
Salary: £44,000
Paycheque amount: £2,800
Number of housemates: One: my partner, Z.
Pronouns: She/her
Industry: Marketing and comms
Age: 37
Location: Edinburgh
Salary: £44,000
Paycheque amount: £2,800
Number of housemates: One: my partner, Z.
Pronouns: She/her
Monthly Expenses
Housing costs: My half of the mortgage is £592 and this includes a £200 overpayment we split between us.
Loan payments: £191 on our car finance and an additional payment of £26 per month to extend the warranty.
Savings? Our current joint safety net is £5,000 in a 4.5% Monzo account. We add around £500-700 to it most months (split evenly).
Pension? I pay 5% per month and my employer matches. It's a final salary pension.
Utilities: Council tax is £150, power/gas is £105. I pay for both of these. Z pays for our £30 life insurance, £70 dog food, £33 union memberships, £30 pet insurance and puts the rest aside as rainy day money for the end of the month when things are usually tighter.
All other monthly payments: £15 phone, £14 Spotify, £52 internet (all out of my account).
Loan payments: £191 on our car finance and an additional payment of £26 per month to extend the warranty.
Savings? Our current joint safety net is £5,000 in a 4.5% Monzo account. We add around £500-700 to it most months (split evenly).
Pension? I pay 5% per month and my employer matches. It's a final salary pension.
Utilities: Council tax is £150, power/gas is £105. I pay for both of these. Z pays for our £30 life insurance, £70 dog food, £33 union memberships, £30 pet insurance and puts the rest aside as rainy day money for the end of the month when things are usually tighter.
All other monthly payments: £15 phone, £14 Spotify, £52 internet (all out of my account).
Did you participate in any form of higher education? If yes, how did you pay for it?
I did a degree in marketing and communications. I had one year paid for by my parents, one year on scholarship and one year through loans. My student loan is all paid off, Z still has theirs.
I did a degree in marketing and communications. I had one year paid for by my parents, one year on scholarship and one year through loans. My student loan is all paid off, Z still has theirs.
Growing up, what kind of conversations did you have about money?
I was always encouraged to be responsible with my money, although sometimes to the point of not ever having any fun. I think I’ve struck the balance a bit better than my parents did.
I was always encouraged to be responsible with my money, although sometimes to the point of not ever having any fun. I think I’ve struck the balance a bit better than my parents did.
If you have, when did you move out of your parents'/guardians' house?
I moved out at 18 and have never moved back in.
I moved out at 18 and have never moved back in.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
My parents helped with the cost of two root canals and the first year of my degree but otherwise my cost of living became mine to cover when I moved out. Z and I have a good dynamic with our finances, having been together since we were 19, and we happily look after each other.
My parents helped with the cost of two root canals and the first year of my degree but otherwise my cost of living became mine to cover when I moved out. Z and I have a good dynamic with our finances, having been together since we were 19, and we happily look after each other.
What was your first job and why did you get it?
I worked in a wee corner shop and it mostly just funded my teenage social life.
I worked in a wee corner shop and it mostly just funded my teenage social life.
Do you worry about money now?
Yes I do. We’ve had a lot break in our flat in the last 18 months (boiler, washing machine, dishwasher, kitchen plumbing), which has set me on edge, but at least it’s good motivation to save.
Yes I do. We’ve had a lot break in our flat in the last 18 months (boiler, washing machine, dishwasher, kitchen plumbing), which has set me on edge, but at least it’s good motivation to save.
Do you or have you ever received passive or inherited income?
No, we’re both financially independent.
No, we’re both financially independent.
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