Money Diary: A 22-Year-Old Electrician In Grimsby On 17k
Last Updated 27 February 2021, 7:00
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Welcome to Money Diaries, where we're tackling what might be the last taboo facing modern working women: money. We're asking a cross-section of women how they spend their hard-earned money during a seven-day period – and we're tracking every last penny.
This week: "Hi! I am 22 years old and I work as an electrical apprentice in the oil and gas industry. I am currently completing an HNC alongside my day-to-day work; I prefer this type of education as I get to learn vocationally and I get paid as I learn. I live at home with my parents at the moment and I am very fortunate to have very little outgoings. I have worked throughout the pandemic so I have been able to save up some money to hopefully move into the home my boyfriend is buying!"
Industry: Oil and gas
Age: 22
Location: Grimsby
Salary: £8.20 an hour, for 40 hours a week.
Paycheque amount: £285 weekly after tax, national insurance and pension.
Number of housemates: Five (Mum, Dad, sister C, her boyfriend B, and my brother A) and seven pets (three dogs and four cats).
Age: 22
Location: Grimsby
Salary: £8.20 an hour, for 40 hours a week.
Paycheque amount: £285 weekly after tax, national insurance and pension.
Number of housemates: Five (Mum, Dad, sister C, her boyfriend B, and my brother A) and seven pets (three dogs and four cats).
Monthly Expenses
Housing costs: £0. I am very lucky that my parents don’t charge me rent to live at home, although they do ask that I put the money I would spend on rent in savings so I put £50 a week in a help-to-buy ISA.
Loan payments: £0. I have a credit card that I pay off in full each month and no student loan as I didn’t go to university.
Utilities: £0 as I still live with my parents.
Transportation: I own my car, insurance £73 a month, fuel £60 a month and I pay my tax yearly. I would usually pay at least double the fuel but I am not travelling anywhere other than work at the moment. I would also top up my HumberTag for the Humber Bridge with £20 as my boyfriend lives in Hull but I cannot see him because of the lockdown at the moment.
Phone bill: £35 contract, £5.50 insurance.
Savings? Weekly £50 into a help-to-buy ISA, £25 into an emergency fund, £25 in a holiday fund and £12.50 each in a car fund and a gifts fund. I currently have £5,300 saved between all of those accounts.
Other: I pay £9.99 a month for Spotify and £0.79 for iCloud storage. I try to keep to £100 a week for spending.
Loan payments: £0. I have a credit card that I pay off in full each month and no student loan as I didn’t go to university.
Utilities: £0 as I still live with my parents.
Transportation: I own my car, insurance £73 a month, fuel £60 a month and I pay my tax yearly. I would usually pay at least double the fuel but I am not travelling anywhere other than work at the moment. I would also top up my HumberTag for the Humber Bridge with £20 as my boyfriend lives in Hull but I cannot see him because of the lockdown at the moment.
Phone bill: £35 contract, £5.50 insurance.
Savings? Weekly £50 into a help-to-buy ISA, £25 into an emergency fund, £25 in a holiday fund and £12.50 each in a car fund and a gifts fund. I currently have £5,300 saved between all of those accounts.
Other: I pay £9.99 a month for Spotify and £0.79 for iCloud storage. I try to keep to £100 a week for spending.
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