Money Diary: A 28-Year-Old Film Exec Living In London On 37.5k
Last Updated 12 December 2020, 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: "I am a 28-year-old film executive living and working in London. Most film productions have been on hold because of the coronavirus pandemic. I’ve been lucky to hold on to my permanent job as it is focused on developing projects to eventually film – hopefully next year. I have been working from home since March. I live with my boyfriend in a one-bedroom flat in zone 1. Please note: if I discuss being out with friends, this is within the tier 2 regulations (meeting outside). When my friend drives me, I am sitting in the back wearing a mask like she’s a taxi driver (my poor friend!)."
Industry: Film
Age: 28
Location: London
Salary: £37,500
Paycheque amount: £2,189.12
Number of housemates: One (my boyfriend)
Age: 28
Location: London
Salary: £37,500
Paycheque amount: £2,189.12
Number of housemates: One (my boyfriend)
Monthly Expenses
Housing costs: £650 per month for my half in rent (which is a steal for zone 1 but we know our landlord and have a great deal with her. Means I have a good proportion of my income to spend and save each month).
Utilities: Bills split in half with boyfriend: £20 water, £84.92 standing order electricity, £107 council tax = £105.96 per month for my share.
Transportation: None at present (because of WFH) but I usually cycle or get the bus when I need to travel.
Phone bill: N/A as paid for by work.
Savings? £11,000 in savings – £8,400 in a savings account and £2,600 in a Help to Buy ISA. Most of this has been accumulated since lockdown 1 – I am one of the people who has massively benefited from working from home and not going on holiday, which is usually my biggest expense. I try to save £300 per month into each account so £600 total via direct debit, and some months I manage more than that. I was also very fortunate to receive a pay rise just before lockdown as part of my annual review, so have managed to accrue more savings as a result.
Utilities: Bills split in half with boyfriend: £20 water, £84.92 standing order electricity, £107 council tax = £105.96 per month for my share.
Transportation: None at present (because of WFH) but I usually cycle or get the bus when I need to travel.
Phone bill: N/A as paid for by work.
Savings? £11,000 in savings – £8,400 in a savings account and £2,600 in a Help to Buy ISA. Most of this has been accumulated since lockdown 1 – I am one of the people who has massively benefited from working from home and not going on holiday, which is usually my biggest expense. I try to save £300 per month into each account so £600 total via direct debit, and some months I manage more than that. I was also very fortunate to receive a pay rise just before lockdown as part of my annual review, so have managed to accrue more savings as a result.
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