Money Diary: A Local Government Worker On 26k
Last Updated 26 October 2022, 6:00
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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'm a 29-year-old local government worker living in Hampshire. I started my current role earlier this year, having worked at another local authority prior to this. I live at home with my parents. In fact, I haven’t moved out apart from when I attended university! I love my parents and they are very chilled out.
I am more of a spender than a saver. This has gotten me into trouble in the past but now, having paid off a significant amount of debt, I am in a much more stable financial position. My long-term money goals are to get married to my partner without going into debt and saving towards a house deposit. My salary should go up significantly in around 15 months so these goals feel achievable to me. Seeing as I spent most of last year paying down debt and saying no to things, this is definitely the year of yes. My boyfriend and I have already discussed that we are going to cut down on socialising and treats next year to save for our futures."
Occupation: Local government & part-time customer service advisor
Industry: Local government & travel and tourism
Age: 29
Location: Hampshire
Salary: £26,446 salary. I also earn roughly £200 pcm from my other job (six months each year) but it depends on hours worked.
Paycheque amount: £1,622.22 (+£200ish)
Number of housemates: Two: my parents.
Pronouns: She/her
Industry: Local government & travel and tourism
Age: 29
Location: Hampshire
Salary: £26,446 salary. I also earn roughly £200 pcm from my other job (six months each year) but it depends on hours worked.
Paycheque amount: £1,622.22 (+£200ish)
Number of housemates: Two: my parents.
Pronouns: She/her
Monthly Expenses
Housing costs: £0. My parents do not charge me anything to live at home. It is quite common in my culture to stay at home until you are married. While my parents are not that strict, there's no pressure for me to pay rent.
Loan payments: £0! It is still quite novel to me that my bank account is always in credit and that I have no debt to pay.
Savings? I have £6,893 in a LISA. I also save £25 NSI (Premium Bonds) and the current balance is £1,100. I have recently started saving £200 per month into a H2B ISA.
Pension? I have a work pension and I pay £143.25 into it.
Utilities: £0
All other monthly payments: £10 SIM only with EE, £11.25 UNISON, £18.37 road tax, £60 singing lessons. Subscriptions: £9.99 Spotify, £39 per year Amazon Prime.
Housing costs: £0. My parents do not charge me anything to live at home. It is quite common in my culture to stay at home until you are married. While my parents are not that strict, there's no pressure for me to pay rent.
Loan payments: £0! It is still quite novel to me that my bank account is always in credit and that I have no debt to pay.
Savings? I have £6,893 in a LISA. I also save £25 NSI (Premium Bonds) and the current balance is £1,100. I have recently started saving £200 per month into a H2B ISA.
Pension? I have a work pension and I pay £143.25 into it.
Utilities: £0
All other monthly payments: £10 SIM only with EE, £11.25 UNISON, £18.37 road tax, £60 singing lessons. Subscriptions: £9.99 Spotify, £39 per year Amazon Prime.
Did you participate in any form of higher education? If yes, how did you pay for it?
I paid for my degree using Student Finance. I was the last year of £3k tuition fees. I received a loan and small grant. I also got a job at a local supermarket in second and third year to supplement my spending.
Growing up, what kind of conversations did you have about money?
Not much! My parents told me to avoid debt, apart from for education and owning a home. Both of my parents are quite frugal and they have always made sure that my siblings and I have been provided for but they never spoke to me explicitly about money. I wish they had as I think that if I had been able to speak to them, I wouldn't have felt so ashamed about my debt and I would have tackled it sooner. They were very supportive when I told them about my plans for repayment.
If you have, when did you move out of your parents'/guardians' house?
I am still here! I hope to move out within the next two years with my boyfriend.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I still live at home and I am culturally not expected to contribute towards the household. I was paying £150 once a month for the family food shop but my parents told me to stop and use this towards my debt and to put into savings. My parents do not give me any money, outside of birthdays and Christmas, but I still consider myself reliant on them in some respects as I could not afford my life if I had to pay rent. I make up for this by doing most of the cleaning and buying random gifts. I tend to pay for meals out or if we order a takeaway. I also tend to treat them with clothes and help my little sister out (she's in university).
What was your first job and why did you get it?
I worked as a cleaner at my school. All my friends were doing it and I got the job so that I could pay for mobile phone top-ups and clothes from New Look. I earned £5 an hour and at 16 this seemed like a fortune.
Do you worry about money now?
Sometimes. I no longer worry about debt as it has all been paid off now and I have no concerns about being able to afford the day-to-day. I do worry about the bigger things, like savings and owning a house. My salary will increase significantly within the next 15 months when I qualify and my boyfriend and I have discussed long-term plans, such as getting married and buying a house. Since becoming debt-free, I try to balance saving with enjoying the little I have left of my 20s.
Not much! My parents told me to avoid debt, apart from for education and owning a home. Both of my parents are quite frugal and they have always made sure that my siblings and I have been provided for but they never spoke to me explicitly about money. I wish they had as I think that if I had been able to speak to them, I wouldn't have felt so ashamed about my debt and I would have tackled it sooner. They were very supportive when I told them about my plans for repayment.
If you have, when did you move out of your parents'/guardians' house?
I am still here! I hope to move out within the next two years with my boyfriend.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I still live at home and I am culturally not expected to contribute towards the household. I was paying £150 once a month for the family food shop but my parents told me to stop and use this towards my debt and to put into savings. My parents do not give me any money, outside of birthdays and Christmas, but I still consider myself reliant on them in some respects as I could not afford my life if I had to pay rent. I make up for this by doing most of the cleaning and buying random gifts. I tend to pay for meals out or if we order a takeaway. I also tend to treat them with clothes and help my little sister out (she's in university).
What was your first job and why did you get it?
I worked as a cleaner at my school. All my friends were doing it and I got the job so that I could pay for mobile phone top-ups and clothes from New Look. I earned £5 an hour and at 16 this seemed like a fortune.
Do you worry about money now?
Sometimes. I no longer worry about debt as it has all been paid off now and I have no concerns about being able to afford the day-to-day. I do worry about the bigger things, like savings and owning a house. My salary will increase significantly within the next 15 months when I qualify and my boyfriend and I have discussed long-term plans, such as getting married and buying a house. Since becoming debt-free, I try to balance saving with enjoying the little I have left of my 20s.
Do you or have you ever received passive or inherited income?
I expect to receive an inheritance when my parents die. I have no idea how much I will receive and I am not counting on this in any way. I would love to pass my share directly to my younger sister. I hope it is not something that I have to think about for a VERY long time.
I expect to receive an inheritance when my parents die. I have no idea how much I will receive and I am not counting on this in any way. I would love to pass my share directly to my younger sister. I hope it is not something that I have to think about for a VERY long time.
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