Money Diary: An A&E Nurse On The Front Line On 27k
Last Updated 1 April 2020, 5:00
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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 am a 30-year-old emergency department nurse living in London. I love my job and work with an amazing supportive team but the last few weeks have been really tough; we were just coming to the end of a really busy winter and then COVID-19 hit. The pressure we are under is hard to describe but I know I am lucky to have a secure job with extra overtime always available, which we are paid weekly. This helps with a weekly spending allowance as I transfer it to Monzo to spend as I want.
I moved to London about three years ago and have a pretty active social life when I am not working. I enjoy going out for food and drinks and will rarely cook at home. There always seems to be an excuse to go for after work drinks, which means I don’t always stay in my weekly budget. I live in hospital accommodation, which is cheap for where I live though it’s pretty basic – but with a less than 10-minute commute to work I can’t complain.
I had planned two trips to Paris next month but they don’t seem likely at the moment, as well as some other holidays later in the year. I am also currently saving to buy a flat back home, which I'm hoping to do in the next year if I can get my spending under control. Most of the time I have no idea where my money has gone..."
Industry: Healthcare
Age: 30
Location: London
Salary: £27,628 basic rate
Paycheque amount: My pay varies each month depending on how many weekends and nights I work but averages £1,800 for my main job. Plus between £200-£600 a week in overtime, depending how many shifts I work.
Number of housemates: 0
Age: 30
Location: London
Salary: £27,628 basic rate
Paycheque amount: My pay varies each month depending on how many weekends and nights I work but averages £1,800 for my main job. Plus between £200-£600 a week in overtime, depending how many shifts I work.
Number of housemates: 0
Monthly Expenses
Housing costs: £644, going up to £674 next month.
Loan payments: £408. I consolidated all my debt two years ago and only have two payments left!
Utilities: All included in rent.
Transportation: £136 for a zone 1-2 travel card.
Phone bill: £15.
Savings? I have four savings accounts: one with my bank which is my main savings and I try to put half my overtime pay in there. I pay £50 a month into a help to buy ISA but will change to the max amount once my loan is paid off. A Monzo daily savings which rounds what I have spent to the nearest pound and puts it aside for me – this is the one I dip into the most. My fourth is another Monzo that I started at the beginning of the year. I pay in £1 on Monday, £2 on Tuesday etc. and any extra unexpected money I get; this was meant to be used for holiday spending money.
Other: Registration fee for work £130 which I pay yearly. Royal College of Nursing Union £16 monthly, Netflix £6, internet £20.
Loan payments: £408. I consolidated all my debt two years ago and only have two payments left!
Utilities: All included in rent.
Transportation: £136 for a zone 1-2 travel card.
Phone bill: £15.
Savings? I have four savings accounts: one with my bank which is my main savings and I try to put half my overtime pay in there. I pay £50 a month into a help to buy ISA but will change to the max amount once my loan is paid off. A Monzo daily savings which rounds what I have spent to the nearest pound and puts it aside for me – this is the one I dip into the most. My fourth is another Monzo that I started at the beginning of the year. I pay in £1 on Monday, £2 on Tuesday etc. and any extra unexpected money I get; this was meant to be used for holiday spending money.
Other: Registration fee for work £130 which I pay yearly. Royal College of Nursing Union £16 monthly, Netflix £6, internet £20.
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