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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 31-year-old food product development manager living in Hertfordshire with my other half and dog. I moved straight here for work after graduating and we’ve been in this house for three years now (we bought during COVID when the mortgage rates were super low). I work both in the office and at home whereas my other half is full time working from home. With regards to money, I would say I am more of a saver than a spender and I’m not overly frivolous with money. However, generally if I want something I will buy it as I work hard to be able to be comfortable with money.”
Occupation: Product development manager
Industry: Food
Age: 31
Location: Hertfordshire
Salary: £51,000
Paycheque Amount: £2,700
Number of housemates: One partner (P) and a dog (L)
Pronouns: She/Her
Industry: Food
Age: 31
Location: Hertfordshire
Salary: £51,000
Paycheque Amount: £2,700
Number of housemates: One partner (P) and a dog (L)
Pronouns: She/Her
Monthly Expenses
Housing costs: £550 per month for the mortgage, split 50/50 with partner.
Loan payments: £228 car payment, £186 student loan.
Pension? I pay 4% monthly out of my salary and my employer matches this. My contribution per month is £198.
Savings?: £17,000
Utilities: We put £1,000 into the joint account to cover mortgage and bills.
All other monthly payments: £34.95 gym; £11 contact lenses. Subscriptions: £10.99 Spotify; £15.99 Fitness app.
Loan payments: £228 car payment, £186 student loan.
Pension? I pay 4% monthly out of my salary and my employer matches this. My contribution per month is £198.
Savings?: £17,000
Utilities: We put £1,000 into the joint account to cover mortgage and bills.
All other monthly payments: £34.95 gym; £11 contact lenses. Subscriptions: £10.99 Spotify; £15.99 Fitness app.
Did you participate in any form of higher education? If yes, how did you pay for it?
I studied a food and nutrition degree which meant moving from a small village to a big city. There weren’t many employment opportunities where I grew up, so to make more money and pursue the career I wanted, it meant having to go to uni and move away. I paid for it via the normal route of student loans and was also lucky enough to receive inheritance to cover my accommodation payments for the first year.
I studied a food and nutrition degree which meant moving from a small village to a big city. There weren’t many employment opportunities where I grew up, so to make more money and pursue the career I wanted, it meant having to go to uni and move away. I paid for it via the normal route of student loans and was also lucky enough to receive inheritance to cover my accommodation payments for the first year.
Growing up, what kind of conversations did you have about money?
I was very fortunate to grow up in a family that was comfortable with money. I think for this reason I didn’t get a huge amount of money education via my parents as it wasn’t a huge concern for them. They were very savvy with investments, savings and so on, so I picked some of that up and have always been quite money conscious with anything I earn.
I was very fortunate to grow up in a family that was comfortable with money. I think for this reason I didn’t get a huge amount of money education via my parents as it wasn’t a huge concern for them. They were very savvy with investments, savings and so on, so I picked some of that up and have always been quite money conscious with anything I earn.
If you have, when did you move out of your parents’/guardians’ house?
I moved out at the age of 18 and only went back for short periods of time in the university holidays.
I moved out at the age of 18 and only went back for short periods of time in the university holidays.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I became financially responsible at the age of 22 with my first graduate job. My safety net is the savings pot I try not to dip into too much. I pay for everything myself, apart from the occasional dinner or trip my other half pays for.
I became financially responsible at the age of 22 with my first graduate job. My safety net is the savings pot I try not to dip into too much. I pay for everything myself, apart from the occasional dinner or trip my other half pays for.
What was your first job and why did you get it?
My first job was in a shoe shop aged 17, where I worked to earn money to go out with friends and buy the clothes I wanted to. A great perk of the job was a free pair of shoes when you joined.
My first job was in a shoe shop aged 17, where I worked to earn money to go out with friends and buy the clothes I wanted to. A great perk of the job was a free pair of shoes when you joined.
Do you worry about money now?
I worry more now about money than when I was younger. Having a mortgage is a big responsibility — especially now when the rates are soaring we would really have to compromise our spending if the payments went up much more. Saying that, both myself and my partner have worked hard to earn the salaries we do which enable us to not have to count every single penny.
I worry more now about money than when I was younger. Having a mortgage is a big responsibility — especially now when the rates are soaring we would really have to compromise our spending if the payments went up much more. Saying that, both myself and my partner have worked hard to earn the salaries we do which enable us to not have to count every single penny.
Do you or have you ever received passive or inherited income?
Yes. I received about £30,000 from in total from grandparents which helped with the deposit for my first house.
Yes. I received about £30,000 from in total from grandparents which helped with the deposit for my first house.
If you’d like to submit your own money diary then please do send a bit of information about you and your situation to moneydiary@refinery29.uk. We pay £100 for each published diary. Apologies but we’re not able to reply to every email.
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