Money Diary 30-Year-Old Music Teacher On 47k

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 30-year-old, non-binary, Aspergic music teacher living and working in Hertfordshire. I would identify as a workaholic and I think music work is one of my fixated interests – I just LOVE music. Fixated interests is a feature of how autism presents in me, alongside a need for rigid routine and order. My partner and I managed to save up and buy a house five years ago and we are currently in the process of renovating it. Daily bills come out of my bank account and my partner does the saving for the renovations from their salary. I would say that I am a spender rather than a saver. I really struggle to keep track of my spending and to avoid impulse fashion purchases. I’m trying to scale this back by saving up for things such as shoes, handbags and clothes rather than splurging."

Occupation: Music teacher and musician
Industry: Music education
Age: 30
Location: Hertfordshire
Salary: £47,000
Paycheque amount: £2,000 from school + around £1,000 side-hustle money from performance, teaching and consultancy work.
Number of housemates: One partner (married) and a gazillion musical instruments.
Pronouns: They/them

Monthly Expenses

Housing costs: £550 (+£200 overpay) mortgage.
Loan payments: £127 student loan, £250 cycle to work scheme for me and my partner's bike. These come directly out of my wages.
Savings? I have around £7,000 in various pots. My partner (C) and I completely share finances. There are savings in their bank account for our house renovations but I don't know how much. It's a very informal arrangement and we don't keep track of who pays for what.
Pension? I have a standard teacher’s pension that is taken automatically from my salary. Usually about £127 a month.
Utilities: £100 council tax, £42 broadband, £100 gas and electric, £24 water.
All other monthly costs: £80 family plan phone contract. Subscriptions: £45 gym membership, £19 face sheet mask subscription, £5.17 organic tampon subscription, £20 probiotics and vitamins, £60 teaching and musicians union, £22 cleaner, £15 The Times subscription.

Did you participate in any form of higher education? If yes, how did you pay for it?

I went to a music conservatoire where I studied performance. I took out all the loans I could get and took all sorts of jobs including lifeguarding, waitressing, bar work, babysitting, barista-ing and eventually teaching. I have undergraduate and postgraduate degrees in classical music performance and I've just submitted a PhD thesis. I received partial scholarships for my postgrad and PhD.

Growing up, what kind of conversations did you have about money?

We didn't talk about money at all. Literally ever! I remember having to budget and set up phone contracts as a student and I was absolutely clueless.

If you have, when did you move out of your parents'/guardians' house?

I moved out aged 18 when I went off to music college.

At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?

When I left for music college, aged 18. My parents had no idea what leaving home to study meant, either practically or financially. I took out all the student loans available to me and grafted every job I could find. I never told my parents that I was struggling. My partner and I have a really informal arrangement with money. We see it as 'our' money but have separate bank accounts. All household bills come out of my account and I leave the saving to them.

What was your first job and why did you get it?

I joined a wedding function band as a singer when I was 14. It was awesome! The band had a bus and we used to head off on Friday and Saturday nights, playing all over the country. I got paid between £50-£100 a week, which for a kid was a lot of money. I used to spend this money on violin strings, sheet music, shoes and, of course, cider.

Do you worry about money now?

I always worry about money. My self-employed partner was seriously ill a few years ago and couldn't work for a number of years. Their insurance wouldn't pay out so we were left with my salary. I took on an extra job and did every gig that came my way. We are financially stable now and I can be very frivolous. In general I am terrible with money but I am getting better.

Do you or have you ever received passive or inherited income? If yes, please explain.

I received £25,000 from an aunt as a gift. I spent this all on my violin, a bow, swanky violin case, laptop and a frivolous but great fun holiday around Europe. My violin was made in France around 300 years ago. It has grown in value and while I would never sell it, it is comforting to know that I made the right choice musically and financially.