Money Diary: An International Recruitment Officer On £34,556

This week: “I’m a 25-year-old international recruitment officer working at a university and living in London. I’ve lived here all my life, apart from university, and have a really great relationship with my family (although moving out is the long-term goal!). With regards to money, I’m definitely a spender, but I would say I’m sensible with it. I never go beyond my means and will always do little ‘side hustles’ to make a bit of extra money. I also realise the lucky position with being able to save so much and having such little outgoings, so I treat myself at the weekends with days/meals out. 
I love to travel also, which has landed me in my job. I’m out of the country approximately 10 weeks a year for a range of activities (fairs and visits) and all trips are fully paid for along with all food and drink. Saying that, the trips are exhausting as it is normally one city or country per day and then travel straight to the next. I do have the option to stay on in a country if possible and I’d have to pay for food and hotels myself."

Occupation: International recruitment officer
Industry: Higher education
Age: 25
Location: London
Salary: £34,556
Paycheque Amount: £2,126
Number of housemates: Three
Pronouns: she/her

Housing costs: I live at home and pay a 20% contribution for rent of my monthly take home — this is equivalent to £425. 
Loan payments: I have a Plan 2 student loan and this is £63.
Savings?: I have £38,000 in a maxed out Help to Buy ISA and in premium bonds, £600 in a travel fund, £450 in an emergency fund, £430 for driving lessons (if I ever actually book them!) and £157 for “silly spending”. This consists of money I’ve made from selling my old clothes et cetera and is solely designated for purchases that are completely unnecessary but also very necessary. 
Pension? I do and I believe I pay 6.5% and my employer pays 14%.
Utilities: Included in my monthly rent.
All other monthly payments: £17.99 phone bill. Subscriptions: £10.99 Spotify; £2.99 Apple.

Did you participate in any form of higher education? If yes, how did you pay for it? I did an undergraduate degree and I took the full student loan and received the full maintenance loan to live off. I chose a cheap city in the UK to study in but also worked on/off throughout term time and full term during holidays. 

Growing up, what kind of conversations did you have about money?
I’ve grown up with an example of a good attitude to money. Money was also spent very well and we had holidays, treats and fun despite mainly having one income in the family. I got a job as soon as I could for “treats” as all necessities were always covered. I’ve been educated about finances but only because I’ve shown an interest in it. You can catch me and my mum discussing the budget, interest rates and savings accounts over a gin.

If you have, when did you move out of your parents’/guardians’ house?
One day I will, but I have a great relationship with my family and can’t pass up the opportunity to live in London for much less then I would if I rented a room. Add in the fact I’m in a relationship and we plan to buy in the next two years means that I am not moving out until that happens.

At what age did you become financially responsible for yourself?
I’m still not due to the fact I live at home. I was fully responsible for myself at university (as much as you can be) but always returned home during holidays and always had the security blanket of my mum if I needed it. 

What was your first job and why did you get it?
I worked in Lush and was paid a London living wage. I got it because I wanted to work and earn my own money. 

Do you worry about money now?
Yes and no. I am fed, dressed and have no day-to-day worries, but I do worry about the housing market and not being able to afford a similar life to what I have now, in the future. 

Do you or have you ever received passive or inherited income?
I have not. However I know I will receive support when I eventually buy and further in the future.