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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 37 year-old internal communications officer working for a local authority in central London. I’m originally from the North West but moved to London 15 years ago and can’t imagine living anywhere else. I previously worked in PR and media relations, but in 2023 I switched to internal communications for a new challenge and started my current job two months ago. I’ve definitely had to hit the ground running but so far I’m really enjoying it! Currently I live alone in a one-bed flat. I bought the flat in 2020 after my ex-husband bought me out of our marital home. The divorce had a huge impact on my finances as I spent a lot on solicitors and rental deposits before buying the flat, as well as on things I didn’t need to make myself feel better. As a result, I ended up with a large amount of credit card debt. I’ve been working hard to pay this off in the last few years and I am aiming to be debt free by April! Otherwise, I would rather save for experiences like holidays or concerts, so I do my best to be frugal in my everyday life wherever I can but still enjoying myself.”
Occupation: Internal Communications Officer
Industry: Local Government
Age: 37
Location: London/Surrey
Salary: £47,628
Paycheque Amount: £2,756.86 (after income tax, National Insurance, pension fund contribution and student loan repayment)
Number of housemates: None
Pronouns: She/her
Industry: Local Government
Age: 37
Location: London/Surrey
Salary: £47,628
Paycheque Amount: £2,756.86 (after income tax, National Insurance, pension fund contribution and student loan repayment)
Number of housemates: None
Pronouns: She/her
Monthly Expenses
Housing costs: £756.45 mortgage (fixed until December 2027).
Loan payments: £230.63 credit card repayment. I also have a student loan which is repaid out of my salary before tax.
Savings?: Around £300 in my easy access savings account. I put aside £100 a month as a sinking fund for haircuts and concert tickets. I’d like to save more but have been focused on clearing my debts first.
Pension?: I pay 6.8% of my salary (£270) into the local government pension scheme, which comes out before tax. I also have around £37,000 in a pension pot with Scottish Widows from two previous jobs, plus some smaller ones from temporary roles over the years.
Utilities: £78.23 gas and electricity, £15 TV licence, £23 broadband, £120 council tax (including 25% single occupancy discount), £24.53 water. Annually, I pay £58.91 contents insurance and £596 buildings insurance.
All other monthly payments: £25.89 critical illness cover, £52.62 income protection, £25.80 phone bill, £13.60 charity donations. Subscriptions: £4.99 Netflix, £11.99 Spotify, £15 Sew Over It membership, £16.09 festival payment plan, £28.90 contact lens plan, £4 meal plan subscription. Yearly subscriptions: £90 Disney+, £24 political party membership, £40 Substack subscription.
Loan payments: £230.63 credit card repayment. I also have a student loan which is repaid out of my salary before tax.
Savings?: Around £300 in my easy access savings account. I put aside £100 a month as a sinking fund for haircuts and concert tickets. I’d like to save more but have been focused on clearing my debts first.
Pension?: I pay 6.8% of my salary (£270) into the local government pension scheme, which comes out before tax. I also have around £37,000 in a pension pot with Scottish Widows from two previous jobs, plus some smaller ones from temporary roles over the years.
Utilities: £78.23 gas and electricity, £15 TV licence, £23 broadband, £120 council tax (including 25% single occupancy discount), £24.53 water. Annually, I pay £58.91 contents insurance and £596 buildings insurance.
All other monthly payments: £25.89 critical illness cover, £52.62 income protection, £25.80 phone bill, £13.60 charity donations. Subscriptions: £4.99 Netflix, £11.99 Spotify, £15 Sew Over It membership, £16.09 festival payment plan, £28.90 contact lens plan, £4 meal plan subscription. Yearly subscriptions: £90 Disney+, £24 political party membership, £40 Substack subscription.
Did you participate in any form of higher education? If yes, how did you pay for it?
I studied English Literature and graduated with a 2:1. I paid for it with student loans and maintenance grants, plus a weekly allowance from my parents during term time and a part-time job in a hotel bar during the holidays.
I studied English Literature and graduated with a 2:1. I paid for it with student loans and maintenance grants, plus a weekly allowance from my parents during term time and a part-time job in a hotel bar during the holidays.
Growing up, what kind of conversations did you have about money?
We didn’t have formal conversations about money, but we were comfortable and I didn’t want for anything growing up (though eating out was only for special occasions and we only went on a holiday abroad a few times when I was young). Both my parents were the first in their families to go to uni, so they pushed me to do well at school, get a good job and work hard at it, as well as not buying things on credit if I couldn’t pay it off straight away. That said, they’re both very generous and quick to treat loved ones, which has also rubbed off on me. Overall, I think they gave me a very balanced attitude to money.
We didn’t have formal conversations about money, but we were comfortable and I didn’t want for anything growing up (though eating out was only for special occasions and we only went on a holiday abroad a few times when I was young). Both my parents were the first in their families to go to uni, so they pushed me to do well at school, get a good job and work hard at it, as well as not buying things on credit if I couldn’t pay it off straight away. That said, they’re both very generous and quick to treat loved ones, which has also rubbed off on me. Overall, I think they gave me a very balanced attitude to money.
If you have, when did you move out of your parents/guardians house?
I moved out to go to university aged 19 and then came back for a couple of years after graduating where I lived rent free. I moved out for good when I was 23 and came down to London.
I moved out to go to university aged 19 and then came back for a couple of years after graduating where I lived rent free. I moved out for good when I was 23 and came down to London.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
Although I’d been able to support myself since I moved to London, I didn’t feel fully financially responsible for myself until I bought my flat. Currently no-one else covers any aspect of my financial life. My parents have repeatedly offered to help me out if I need it and I’m very grateful for that, but I wouldn’t ask them unless I was desperate (as in 'suddenly lost my job' desperate).
Although I’d been able to support myself since I moved to London, I didn’t feel fully financially responsible for myself until I bought my flat. Currently no-one else covers any aspect of my financial life. My parents have repeatedly offered to help me out if I need it and I’m very grateful for that, but I wouldn’t ask them unless I was desperate (as in 'suddenly lost my job' desperate).
What was your first job and why did you get it?
I did cash-in-hand babysitting as a teenager, but my first proper job was on the checkout in the local supermarket aged 17. I got it to be able to buy new clothes and have my own phone.
I did cash-in-hand babysitting as a teenager, but my first proper job was on the checkout in the local supermarket aged 17. I got it to be able to buy new clothes and have my own phone.
Do you worry about money now?
Yes, a lot. I can comfortably support myself and like living alone but paying a mortgage and bills by myself eats into my disposable income a lot compared to friends who are cohabiting or living with housemates. I also feel angry with myself for getting into debt and worry that I’m behind on savings as a result. Lastly, I’m at a point where longer term finances are starting to worry me, like potentially buying a bigger home or having a larger pension pot.
Yes, a lot. I can comfortably support myself and like living alone but paying a mortgage and bills by myself eats into my disposable income a lot compared to friends who are cohabiting or living with housemates. I also feel angry with myself for getting into debt and worry that I’m behind on savings as a result. Lastly, I’m at a point where longer term finances are starting to worry me, like potentially buying a bigger home or having a larger pension pot.
Do you or have you ever received passive or inherited income?
I received £7,000 from the sale of my nanna’s house after she passed away in 2023. The bulk of that went on paying off my credit card debt but I also used some of it for a holiday last year.
I received £7,000 from the sale of my nanna’s house after she passed away in 2023. The bulk of that went on paying off my credit card debt but I also used some of it for a holiday last year.
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