Money Diary 26-Year-Old Researcher In Hong Kong On 30k

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 26-year-old from London, working for a research firm in Hong Kong. I moved to the city last summer after many months of navigating travel bans and bureaucratic hurdles (not forgetting Hong Kong’s compulsory two-week hotel quarantine on arrival, electronic wristband and all).

I’ve always been fairly careful with money. My parents took a systematic approach to our financial education; we had an allowance from about 8 (I’m talking £2 a week, mainly spent on chocolate) and were taught to budget from that. The amount given increased proportionally as we got older but meant if I wanted new clothes or holidays, I always had to save for them. This experience probably put me at the upper end of the 'responsible with money' spectrum when I started university, which you’ll know (if you’ve spent any time with 18-year-olds) is directly inverse to how much fun you are.

Given that Hong Kong is the world’s most expensive city and I have a historical interest in being able to afford things, it may seem counterintuitive that I moved here. However, my overall expenditure is roughly the same as pre-COVID London, and local food and transport are comparatively cheap. I suppose bars being shut helps, too.

For some pandemic context, Hong Kong has never locked down. As of January 2021, just over 10,000 confirmed cases have been recorded in total. Relative to much of the world, community transmission rates are low and even clubs were open for a few months last autumn. I’m aware of how privileged I am to have had this degree of parental support growing up, in addition to the serendipitous events which led to me moving to a place less impacted by COVID."

Industry: Research
Age: 26
Location: Hong Kong
Salary: £30,000
Net worth: Roughly £50,000, half in savings from the last few years of working and the other from family inheritance.
Paycheque amount: £2,200
Number of housemates: Two

Monthly Expenses

Housing costs: I live in an apartment with two housemates and pay approx. £850 rent (HK$9,000), plus a little extra for gas/electricity (approx. £50 a month).
Loan payments: £50 a month student loan.
Debt: Around £45,000 in student loans.
All other monthly expenses: £19 (HK$210) for Hong Kong SIM card. I'm also still paying £20 a month for my English SIM because I haven't worked out how to keep my number and cancel the plan. £9.99 a month Spotify premium, £0 for Netflix because I use my parents' account. I was paying around £25 a month for ClassPass but gyms have been shut in Hong Kong since December so it's paused.