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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 25-year-old working in food and living in central Scotland. Financially, the last few years have been quite varied and there’s always been uncertainty/a bit of money stress. I’ve done a few different jobs in the last few years and bought a flat with my partner last year, which took a lot of time and expense. My hope this year is that now I’ve got fewer expenses and life changes coming up, I can be a bit more settled in my job and enjoy my money a bit more. I’m hoping to take some trips at home and abroad and generally have more time to enjoy myself, while not going crazy and still putting a bit of money aside for the future."
Occupation: Technologist
Industry: Food
Age: 25
Location: Central Scotland
Salary: £34,500
Paycheque amount: £2,153.37
Number of housemates: One: my boyfriend.
Pronouns: She/her
Industry: Food
Age: 25
Location: Central Scotland
Salary: £34,500
Paycheque amount: £2,153.37
Number of housemates: One: my boyfriend.
Pronouns: She/her
Monthly Expenses
Housing costs: £1,080 mortgage (split equally between boyfriend and me).
Loan payments: £30 sofa, £40 student loan.
Savings? £1,500 in a joint account. I recently paid off a (free) overdraft using savings so that’s why I don’t have any personal savings at the moment but I try to save £350/month personally.
Pension? I pay 7% and the company pays 5%. I have a few thousand across a few accounts.
Utilities: £100 gas/electric, £22 wi-fi, £70.50 council tax.
All other monthly payments: £7.99 phone, £40 pole classes, £1.99 Google storage, £14.99 Spotify (split). Subscriptions: £30 gym membership, £10.99 Netflix.
Loan payments: £30 sofa, £40 student loan.
Savings? £1,500 in a joint account. I recently paid off a (free) overdraft using savings so that’s why I don’t have any personal savings at the moment but I try to save £350/month personally.
Pension? I pay 7% and the company pays 5%. I have a few thousand across a few accounts.
Utilities: £100 gas/electric, £22 wi-fi, £70.50 council tax.
All other monthly payments: £7.99 phone, £40 pole classes, £1.99 Google storage, £14.99 Spotify (split). Subscriptions: £30 gym membership, £10.99 Netflix.
Did you participate in any form of higher education? If yes, how did you pay for it?
I did an undergraduate degree at a Scottish university so the fees were covered. I took out the maximum student loan/bursary, which was £475-£625 per month during the degree. I worked part-time for spending money in bars and my parents gave me £100 a month, which was a great help.
I did an undergraduate degree at a Scottish university so the fees were covered. I took out the maximum student loan/bursary, which was £475-£625 per month during the degree. I worked part-time for spending money in bars and my parents gave me £100 a month, which was a great help.
Growing up, what kind of conversations did you have about money?
I don’t think there was much talk about money — or maybe I just didn’t ask! I often noticed when my friends went out that they were much happier to spend and that they’d turn up with a few £20 notes that had been given to them. My mum would always get me a little present or treat when she went away, even if it was just something like the Biscoff off her coffee (this was and still is a great gift). Looking at it with an adult perspective, I think we were firmly middle class. As an adult I have friends who had far more growing up and friends who had far less.
I don’t think there was much talk about money — or maybe I just didn’t ask! I often noticed when my friends went out that they were much happier to spend and that they’d turn up with a few £20 notes that had been given to them. My mum would always get me a little present or treat when she went away, even if it was just something like the Biscoff off her coffee (this was and still is a great gift). Looking at it with an adult perspective, I think we were firmly middle class. As an adult I have friends who had far more growing up and friends who had far less.
If you have, when did you move out of your parents’/guardians’ house?
I moved out at 18 to go to uni. I moved back in for around two months during COVID, and also lived at my boyfriend’s childhood home multiple times for a few months during summers/after graduating.
I moved out at 18 to go to uni. I moved back in for around two months during COVID, and also lived at my boyfriend’s childhood home multiple times for a few months during summers/after graduating.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I would say I became semi-financially responsible for myself during uni but not entirely as I had loan payments and also received some money from my parents. I became totally financially responsible for myself at 21 after I graduated and got my first job. I wouldn’t say I’m financially reliant on anyone else but my finances are pretty intermingled with my boyfriend’s and a lot of payments are built on the assumption that they are paid jointly, although we have factored in that this may not always be the case.
I would say I became semi-financially responsible for myself during uni but not entirely as I had loan payments and also received some money from my parents. I became totally financially responsible for myself at 21 after I graduated and got my first job. I wouldn’t say I’m financially reliant on anyone else but my finances are pretty intermingled with my boyfriend’s and a lot of payments are built on the assumption that they are paid jointly, although we have factored in that this may not always be the case.
What was your first job and why did you get it?
I started out selling cakes and cleaning on a campsite but my first official job (where I received a paycheque) was at a local restaurant the summer I left school. I wanted some spending money and to have a bit of independence to pay for fuel for driving, clothes etc.
I started out selling cakes and cleaning on a campsite but my first official job (where I received a paycheque) was at a local restaurant the summer I left school. I wanted some spending money and to have a bit of independence to pay for fuel for driving, clothes etc.
Do you worry about money now?
A bit. I do feel like sometimes I spend too much and treat myself when I should be saving but I enjoy doing nice things, treating friends to a drink etc. Lots of fun things involve spending money! I am trying to be more conscious of money though and to put a bit more into savings while still having a fun time. I think buying clothes I don’t really love and purchases to cheer myself up that I only use once or twice may be the offenders here. I'm not worried but feel quite conflicted on whether to start focusing on paying off my student loan or whether to keep paying the minimum. I’m quite happy with my salary but even now I am still not making payments above interest so I do find that quite disheartening when I look at it.
A bit. I do feel like sometimes I spend too much and treat myself when I should be saving but I enjoy doing nice things, treating friends to a drink etc. Lots of fun things involve spending money! I am trying to be more conscious of money though and to put a bit more into savings while still having a fun time. I think buying clothes I don’t really love and purchases to cheer myself up that I only use once or twice may be the offenders here. I'm not worried but feel quite conflicted on whether to start focusing on paying off my student loan or whether to keep paying the minimum. I’m quite happy with my salary but even now I am still not making payments above interest so I do find that quite disheartening when I look at it.
Do you or have you ever received passive or inherited income?
When my boyfriend and I bought our flat we both had Help To Buy ISAs so we received 25% from the government on top of what we had saved to purchase our flat — around £2,100 for me. I also recently inherited £10,000 and was gifted around £4,000 of shares in a renewable energy company.
When my boyfriend and I bought our flat we both had Help To Buy ISAs so we received 25% from the government on top of what we had saved to purchase our flat — around £2,100 for me. I also recently inherited £10,000 and was gifted around £4,000 of shares in a renewable energy company.
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