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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 marketing manager in the tech industry who recently moved to the UK from Hong Kong after several years of doing long distance with my partner.
I grew up in a family of teachers and was extremely lucky not to have any debt coming out of university. I received a full ride scholarship and worked multiple part-time jobs for my own spending money through the four years. I've been contemplating going back to school, maybe part-time, and will give this some more thinking over the next few years.
Looking back, my parents and I rarely discussed money and finances directly when I was growing up. But they have always lived frugally so I grew up with that behaviour ingrained in me. As my parents began to establish themselves more financially by the time I was in high school, I learned from observing them to spend money on not only necessity and planning well for the future but also on things you love. My parents both have things that they collect and will invest in without feeling guilty about it, and will splurge on special occasions. So I have tried to adopt that attitude as my income has increased over time.
Nowadays I'm quite comfortable and secure financially but it still sometimes shocks me how easily I can impulse buy things, knowing that my instinct is to pinch the pennies. I often question my purchases afterwards as well – like spending £100 on plants but thinking twice about getting the £2 over the £1.50 tea bags. If anyone has good insight into the psychology of this, please let me know!"
Industry: Tech
Age: 29
Location: London
Salary: £125,000
Paycheque amount: £6,100
Number of housemates: One, my partner B.
Age: 29
Location: London
Salary: £125,000
Paycheque amount: £6,100
Number of housemates: One, my partner B.
Monthly Expenses
Housing costs: £625. Live with partner B; we split rent half-half.
Loan payments: £0
All other monthly expenses: My partner and I recently moved in together and split rent, bills, groceries but keep separate accounts since it's easier to manage for now. My share of monthly bills: internet £37.50, electric/gas around £60, council tax £145. Personal expenses: phone £5, Spotify £10, consulting website hosting £10, password manager £2.
Savings? Around £110,000 saved up in cash and investments. Around £2-3,000 each month automatically gets pulled into savings accounts and Nutmeg ISA pots.
Loan payments: £0
All other monthly expenses: My partner and I recently moved in together and split rent, bills, groceries but keep separate accounts since it's easier to manage for now. My share of monthly bills: internet £37.50, electric/gas around £60, council tax £145. Personal expenses: phone £5, Spotify £10, consulting website hosting £10, password manager £2.
Savings? Around £110,000 saved up in cash and investments. Around £2-3,000 each month automatically gets pulled into savings accounts and Nutmeg ISA pots.
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