Money Diary: A Full-Time Mum & Part-Time Data Analyst On 14.5k
Last Updated 18 August 2021, 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 people how they spend their hard-earned money during a seven-day period – and we're tracking every last penny.
As every person's financial situation is unique, going forward we're asking diarists to complete a series of financial-based questions to provide readers with more context to their relationship with money. Please remember before commenting that the diarists are from a range of different backgrounds and cultures and their experience, education and mental relationship with money might be very different to yours. Money Diaries are designed to provide readers with diverse experiences of spending, saving and asking for more in the hope that by learning from each other, we can build a more positive financial future together.
This week: "I'm a 30-year-old full-time mum and part-time data analyst. Since having my first child over two years ago, my husband and I have combined all our finances so that anything we spend comes out of our joint account. We've both kept our own accounts too, which we keep ticking over with direct debits and the occasional present purchase for one another. Before going on maternity leave I was a full-time analyst in the charity sector. Now, I work a part-time position remotely which I can fit around my toddler, T, and newest addition, B, so that we don't have to send them to nursery. I’ve always lived mostly paycheque to paycheque with some savings building up here and there, but more often than not those savings get spent and we end up back at square one."
Occupation: Full-time mum and part-time data analyst
Industry: Third sector
Age: 30
Location: Plymouth
Salary: £14,585 for me, £28,000 for my husband, making our total joint income £42,585.
Paycheque amount: £1,130 for me, £1,750 for my husband.
Number of housemates: Four: one husband (H), one toddler (T), one baby (B) and one dog (D).
Monthly Expenses
Housing costs: My mortgage is £455. My water and energy bills come to approximately £210 and council tax costs £133. My internet and TV package costs £62 and my TV licence costs £14.
Loan payments: I pay £190 on a combined loan that covers our furniture and car.
Savings? None
Pension status: I have a few pensions from over the years but I’m fairly new to this job so I’m expecting my contributions to start in the next month or two.
All other monthly expenses: Phone bill £75 for both. Insurance and breakdown cover for both cars costs £80 and car tax costs £11 (the other car is £30 a year and we paid this off a few months ago). Our life insurance costs £35 and our pet insurance costs £14. Subscriptions: £10 National Trust pass, £10 Spotify, £10 Readly, £10 Netflix, £8 Amazon Prime and £8 Morrisons delivery pass.
Industry: Third sector
Age: 30
Location: Plymouth
Salary: £14,585 for me, £28,000 for my husband, making our total joint income £42,585.
Paycheque amount: £1,130 for me, £1,750 for my husband.
Number of housemates: Four: one husband (H), one toddler (T), one baby (B) and one dog (D).
Monthly Expenses
Housing costs: My mortgage is £455. My water and energy bills come to approximately £210 and council tax costs £133. My internet and TV package costs £62 and my TV licence costs £14.
Loan payments: I pay £190 on a combined loan that covers our furniture and car.
Savings? None
Pension status: I have a few pensions from over the years but I’m fairly new to this job so I’m expecting my contributions to start in the next month or two.
All other monthly expenses: Phone bill £75 for both. Insurance and breakdown cover for both cars costs £80 and car tax costs £11 (the other car is £30 a year and we paid this off a few months ago). Our life insurance costs £35 and our pet insurance costs £14. Subscriptions: £10 National Trust pass, £10 Spotify, £10 Readly, £10 Netflix, £8 Amazon Prime and £8 Morrisons delivery pass.
Growing up, what kind of conversations did you have with your family about money?
The messages I got about money growing up were clear: save your money so that you can enjoy spending what’s left over, bargain hunt where you can and buy good quality above everything else. The message regarding saving, however, mostly fell on deaf, impulsive ears so I’ve never had a great deal kept back. I always knew we had enough money and had a nice lifestyle with horse riding and holidays, but I also knew we weren’t loaded either.
If you have, when did you move out of your parent or guardian's house?
I moved out for a year in my teens, then went back home for two years. I finally moved out when I was 20 into a shared house and then shortly after I moved in with my boyfriend, now husband.
At what age did you become financially responsible for yourself?
When I moved out for the final time at the age of 20. We don't currently have anyone else paying for any aspect of our life. We probably could ask either of our parents to bail us out if we were in need but we would always rather temporarily extend an overdraft to cover unexpected bills if we needed to.
What was your first job and why did you get it?
When I was 14 I got a job as a Saturday girl at a local hairdresser. A friend of mine had a similar job and I was envious of the money she had.
Do you worry about money now?
Occasionally. When we have a few thousand pounds saved I feel very content and secure. When there’s nothing tucked away (like now), I feel vulnerable about any unexpected bills. I have a couple of credit cards with big limits so I know if anything very expensive came up that we would be able to sort it out, albeit with a lot of debt.
Do you or have you ever received passive or inherited income?
We received £10,000 from a family member sadly passing away, which we spent on house renovations.
The messages I got about money growing up were clear: save your money so that you can enjoy spending what’s left over, bargain hunt where you can and buy good quality above everything else. The message regarding saving, however, mostly fell on deaf, impulsive ears so I’ve never had a great deal kept back. I always knew we had enough money and had a nice lifestyle with horse riding and holidays, but I also knew we weren’t loaded either.
If you have, when did you move out of your parent or guardian's house?
I moved out for a year in my teens, then went back home for two years. I finally moved out when I was 20 into a shared house and then shortly after I moved in with my boyfriend, now husband.
At what age did you become financially responsible for yourself?
When I moved out for the final time at the age of 20. We don't currently have anyone else paying for any aspect of our life. We probably could ask either of our parents to bail us out if we were in need but we would always rather temporarily extend an overdraft to cover unexpected bills if we needed to.
What was your first job and why did you get it?
When I was 14 I got a job as a Saturday girl at a local hairdresser. A friend of mine had a similar job and I was envious of the money she had.
Do you worry about money now?
Occasionally. When we have a few thousand pounds saved I feel very content and secure. When there’s nothing tucked away (like now), I feel vulnerable about any unexpected bills. I have a couple of credit cards with big limits so I know if anything very expensive came up that we would be able to sort it out, albeit with a lot of debt.
Do you or have you ever received passive or inherited income?
We received £10,000 from a family member sadly passing away, which we spent on house renovations.
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