Money Diary 20-Year-Old Law Student In Wiltshire

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 currently at university. I am originally from Wiltshire but moved to London in 2018 to pursue a law degree (LLB). I fund my university with student loans and supplement the loans with my part-time job as a tutor.

Growing up, I observed the complicated relationship that my parents had with money. They would seldom express the financial difficulty that they were in but it was an unspoken rule between my sister and I that we would not ask for more than necessary. This meant that we often declined optional school trips and social engagements.

Understanding how much debt my parents were in encouraged me to step up to add some order. I often drafted a shopping list for my parents, advised on how we could save money, got a job to contribute early on and cautioned my parents on their spending. I understand that my parents were unable to prioritise our family's financial future because, being the first generation of our family to reside in the UK (they moved from Nigeria), there was a lot of pressure from the external family to financially support others once we came here.

Moving back home during the pandemic was not an easy decision because I had moved to London in the hope of finding independence and establishing myself in the city. My decision to move home was for a range of reasons which included saving money on rent and transportation. I know that a lot of young adults have had to move back home, which helps me not to feel like I am behind in life. While it is discouraging to have the global pandemic cause financial harm, I choose to acknowledge this as an opportunity to spend time with family, to save money and take an inventory of my finances. I continue to worry about money but in these times I have been working hard on shifting my mindset from one of scarcity to one of abundance."

Industry: Law student
Age: 20
Location: Wiltshire
Salary: £13,000
Paycheque amount: £300 from my part-time job. I don't pay tax as I am not over the personal allowance yet.
Number of housemates: Four (parents and two younger siblings).

Monthly Expenses

Housing costs: £0 since moving back home, previously was £640/month.
Utilities: £0. Previously this was included in the rent.
Net worth: £0
Loan payments: I will have about £60,000 debt when I finish my degree.
Transportation: Since moving back and working and studying from home, I have not opted for a bus pass because the places I go to are walking distance.
Phone bill: £20
Savings? Investment: £30. I got into investing a few months ago and I am committing to investing 10% of my monthly paycheque from my part-time job. I invest this amount and I try to replicate successful ‘investment pies' shared by others slowly.
Other: Apple storage: £0.79 for 50GB storage plan. Tithe: £30. Since the start of the pandemic, I have reconnected with my Christian faith and I have recommitted to tithing 10% of my paycheque.