ADVERTISEMENT
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'm a 31-year-old food buyer living in the northwest with my fiancé. I usually work in the office with one day from home. We are currently in the process of buying a house and also planning a wedding. We moved back to the north last year from London. We have been renting our whole lives so buying our house is something we are very excited to do. Our main financial goals at the moment are planning for our wedding and then from there we will look to do some small renovations on the house."
Occupation: Buyer
Industry: Food
Age: 31
Location: Northwest
Salary: £32,000
Paycheque amount: £1,900 (after pension, student loan, tax, NI etc.).
Number of housemates: One: my fiancé, J.
Pronouns: She/her
Industry: Food
Age: 31
Location: Northwest
Salary: £32,000
Paycheque amount: £1,900 (after pension, student loan, tax, NI etc.).
Number of housemates: One: my fiancé, J.
Pronouns: She/her
Monthly Expenses
Housing costs: £465 for my half of the rent (this will only be £350 when we move into our new house).
Loan payments: My student loan is taken out of my paycheque and is around £90.
Savings? £5k across Starling pots (saving for our wedding next year) and a stocks and shares ISA. We did have £30k in joint savings, which we put into our house deposit.
Pension? Yes, around £150 a month out of my pay and my employer pays double on top of that. I also have a private pension with Moneybox, which is a combination of my pension pots from other jobs. I top this up when I have some extra money, feel the doom of retirement and wonder if I’m doing enough.
Utilities: £62.50 into our bills pot for energy and water. £67.50 my half of council tax. We pay our other bills quarterly.
All other monthly payments: £8 phone bill (cheap Black Friday SIM-only deal), £7.50 phone insurance. Subscriptions: £5 Beauty Pie membership, £14.99 Soul Sanctuary yoga membership, £3.50 Google photos/Apple storage, £6.80 Ohne tampons, £16.99 Spotify, £9 for my half of Nespresso, £15 for Wild deodorant every three months.
Did you participate in any form of higher education? If yes, how did you pay for it?
Housing costs: £465 for my half of the rent (this will only be £350 when we move into our new house).
Loan payments: My student loan is taken out of my paycheque and is around £90.
Savings? £5k across Starling pots (saving for our wedding next year) and a stocks and shares ISA. We did have £30k in joint savings, which we put into our house deposit.
Pension? Yes, around £150 a month out of my pay and my employer pays double on top of that. I also have a private pension with Moneybox, which is a combination of my pension pots from other jobs. I top this up when I have some extra money, feel the doom of retirement and wonder if I’m doing enough.
Utilities: £62.50 into our bills pot for energy and water. £67.50 my half of council tax. We pay our other bills quarterly.
All other monthly payments: £8 phone bill (cheap Black Friday SIM-only deal), £7.50 phone insurance. Subscriptions: £5 Beauty Pie membership, £14.99 Soul Sanctuary yoga membership, £3.50 Google photos/Apple storage, £6.80 Ohne tampons, £16.99 Spotify, £9 for my half of Nespresso, £15 for Wild deodorant every three months.
Did you participate in any form of higher education? If yes, how did you pay for it?
Yes, I did go to university and did a BA degree. I paid for it through a combination of working while studying and student loans, grants, bursaries. My parents helped where they could but I by no means relied upon them.
Growing up, what kind of conversations did you have about money?
Growing up, what kind of conversations did you have about money?
My parents openly spoke about when money was tight but they wouldn’t let us see if they were struggling. My parents would have given us everything we wanted if they could – they worked multiple jobs when I was little and are still hard grafting now (my dad retires next year) – but I didn’t learn budgeting or anything from them.
If you have, when did you move out of your parents'/guardians' house?
If you have, when did you move out of your parents'/guardians' house?
When I went to university at 18. I moved back for about a year to save up money to go travelling but then I never really lived at home from about the age of 21/22.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I became completely and totally responsible at the age of 23 when I started living and working in London.
What was your first job and why did you get it?
What was your first job and why did you get it?
My first job was when I was 14 as a waitress in my local village. I got it to pay for treats for myself and to get experience in the world of employment.
Do you worry about money now?
Do you worry about money now?
Yes, but only as I got myself into a lot of debt from a mixture of travelling after university and living in London beyond my means. I had to go onto a debt management plan to pay it back and it affected my credit report massively. I paid off the debt around two years ago and managed to save around £10k towards our house deposit in that time too. I worry less now but it is always in the back of my mind to make sure that never happens again. I am extremely organised and budget mine and my fiancé's money down to the last penny. I’m sure I will ease up eventually and I am proud of how far I have come.
Do you or have you ever received passive or inherited income?
Do you or have you ever received passive or inherited income?
No, never.
ADVERTISEMENT