Money Diary: A Healthcare Programme Manager On £45,879
Last Updated 5 January 2024, 7:00
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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 32-year-old wife, mother and programme manager living in Manchester. I worked in the charity sector following my undergraduate degree, however, after my mum died in my mid 20s I had a career change, undertaking a graduate scheme in the NHS. I’m really passionate about what I do and while I’m not in any rush to climb the career ladder, I do want to progress to make sure I’m having a positive impact on others. I’m conscious about achieving this while still giving my daughter everything she could ever need (while not spoiling her!). I love my life and I feel so lucky to have bought a home in a lovely area. However, I do still think and worry about finances quite a lot, especially as the cost of living and extortionate nursery fees rise every month. I think overall I’m sensible about finances. I’m definitely not a risk taker and I’m very aware how easy it would be to lose everything if something unexpected happen, but I do definitely still treat myself. I think I have a reasonable balance and actually one that I’m sure a lot of people would love to have.”
Occupation: Programme manager
Industry: Healthcare
Age: 32
Location: Manchester
Salary: £45,879.20
Paycheque Amount: £2,190
Number of housemates: Two, my husband F and my daughter E
Pronouns: She/her
Industry: Healthcare
Age: 32
Location: Manchester
Salary: £45,879.20
Paycheque Amount: £2,190
Number of housemates: Two, my husband F and my daughter E
Pronouns: She/her
Monthly Expenses
Housing costs: £1,421 mortgage, split proportionally based on take-home income with my husband (I pay around 35%). We also pay £30 monthly estate management fees (we live on a new-build estate).
Loan payments: £32 for a 0% interest couch. I also have a lease car via salary sacrifice at £358.
Savings?: We have a joint savings pot of £7,500. I also have £3,007 in an easy access savings pot and £3,770 in a S&S ISA. It was originally £4,000 about two years ago but its lost money which is really disappointing. I keep hoping it will go back up in value so I can take it out!
Pension?: I pay 9.8% of my salary in and my employer pays 20.6%.
Utilities: Our joint expenses include £31 internet, £45 water, £203 council tax and £180 energy (split based on take-home income).
All other monthly payments: Our joint expenses include £15 life insurance and £10 National Trust membership. I also pay from my personal account a £10 SIM only phone contract, £38 charity direct debit, £23 gym membership and £165 for weekly PT sessions. Subscriptions: £7.99 Disney+; £17.99 Spotify family.
Loan payments: £32 for a 0% interest couch. I also have a lease car via salary sacrifice at £358.
Savings?: We have a joint savings pot of £7,500. I also have £3,007 in an easy access savings pot and £3,770 in a S&S ISA. It was originally £4,000 about two years ago but its lost money which is really disappointing. I keep hoping it will go back up in value so I can take it out!
Pension?: I pay 9.8% of my salary in and my employer pays 20.6%.
Utilities: Our joint expenses include £31 internet, £45 water, £203 council tax and £180 energy (split based on take-home income).
All other monthly payments: Our joint expenses include £15 life insurance and £10 National Trust membership. I also pay from my personal account a £10 SIM only phone contract, £38 charity direct debit, £23 gym membership and £165 for weekly PT sessions. Subscriptions: £7.99 Disney+; £17.99 Spotify family.
Did you participate in any form of higher education? If yes, how did you pay for it?
We didn’t live in a great area and the schools didn’t have a good reputation so my mum pushed for me to go to a (free) grammar school even though it was an hour away. I did really well and went on to do both an undergraduate and eventually a master’s degree but, unlike me, most children who get the opportunity to go are already from a privileged background so it maintains that gap in society which I don’t feel comfortable with. For my undergraduate degree, I was eligible for the maximum student loans and grants available — which just about covered all of my tuition and living costs — but I also worked part time the whole way though uni to pay for any extras. My master’s degree was funded through work which I’m so grateful for and I did it part time over two years while working full time.
We didn’t live in a great area and the schools didn’t have a good reputation so my mum pushed for me to go to a (free) grammar school even though it was an hour away. I did really well and went on to do both an undergraduate and eventually a master’s degree but, unlike me, most children who get the opportunity to go are already from a privileged background so it maintains that gap in society which I don’t feel comfortable with. For my undergraduate degree, I was eligible for the maximum student loans and grants available — which just about covered all of my tuition and living costs — but I also worked part time the whole way though uni to pay for any extras. My master’s degree was funded through work which I’m so grateful for and I did it part time over two years while working full time.
Growing up, what kind of conversations did you have about money?
I don’t remember ever having conversations about money but I do remember having to hide whenever the door knocked and it was the bailiffs. My mum was terrible with money and as a result I find money a real stressor and have the total opposite approach to hers.
I don’t remember ever having conversations about money but I do remember having to hide whenever the door knocked and it was the bailiffs. My mum was terrible with money and as a result I find money a real stressor and have the total opposite approach to hers.
If you have, when did you move out of your parents’/guardians’ house?
18.
18.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
When I went to university at 18 (except for the odd food shop my mum would buy for me).
When I went to university at 18 (except for the odd food shop my mum would buy for me).
What was your first job and why did you get it?
My first job was in a shoe shop when I was 16. I got it to be able to afford things like clothes and just days and nights out in general.
My first job was in a shoe shop when I was 16. I got it to be able to afford things like clothes and just days and nights out in general.
Do you worry about money now?
Yes, although my dad had a good job, my mum was really bad with money and after they separated it was a common occurrence that my mum wouldn’t have enough money to pay the bills because she would spend it on other things that weren’t necessities. I do just want to say here that my mum was such a loving mum and a real character, but she had a really difficult upbringing with more tragedies than anyone should have to bare and that obviously impacted her decision-making in life.
Yes, although my dad had a good job, my mum was really bad with money and after they separated it was a common occurrence that my mum wouldn’t have enough money to pay the bills because she would spend it on other things that weren’t necessities. I do just want to say here that my mum was such a loving mum and a real character, but she had a really difficult upbringing with more tragedies than anyone should have to bare and that obviously impacted her decision-making in life.
Do you or have you ever received passive or inherited income?
My mum died several years ago and she had life insurance, so after I paid off her debts and paid for the funeral I received £20,000. It goes without saying that I would take my mum back over that any day of the week. I also received £10,000 from my dad that he had been saving since I had been born and, combined, this was how we put a deposit down on our home.
My mum died several years ago and she had life insurance, so after I paid off her debts and paid for the funeral I received £20,000. It goes without saying that I would take my mum back over that any day of the week. I also received £10,000 from my dad that he had been saving since I had been born and, combined, this was how we put a deposit down on our home.
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