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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 nurse working in a specialist role. I qualified in 2014 and I have worked this particular job nearly three years. I am fairly independent and I run clinics myself. To help consolidate this I am currently completing a part time MSc programme in advanced practice. This, coupled with the COVID-19 changes at work has kept me fairly busy!
I live in London with my partner. Earlier this year we got engaged and starting saving up for a house and a very small wedding. We decided a house is a priority for us and we will probably get married abroad. This is now on hold so our only concrete plan for the moment is to save. We moved out of the flat we previously rented by ourselves and downsized to a house share to save money. Prior to this I had never lived in a house share, just with my family and then my partner so this has been a challenging experience to say the least!
We live with four other housemates who we seem to get on OK with. We barely see each other during the working week but catch up on weekends. I have built a good relationship with one of the housemates (M) and she teaches me how to bake from time to time.
Industry: Healthcare
Age: 27
Location: London
Salary: £36k
Paycheque amount: £2,312 (after tax, NI, pension scheme)
Number of housemates: 4
Age: 27
Location: London
Salary: £36k
Paycheque amount: £2,312 (after tax, NI, pension scheme)
Number of housemates: 4
Monthly Expenses:
Housing costs: £650 - my partner pays the rent (he earns significantly more).
Loan payments: None
Utilities: My partner pays and I put £250 on my Monzo card for all things food and cleaning products etc.
Transportation: £200 (Zones 1-4) and £250 on driving lessons.
Phone bill: £12.00, I also pay my sibling's phone bill £22.95.
Other: Gym, £24.00, trade union, £17, charity donations, £100
Savings? I try to put aside £1,200 a month and live on £225 for my little treats and random bits. I log my spends using the Fudget app to try and practice conscious spending. I find that I spend far too much in the first week after pay day and so try to practice ‘no spend’ weeks every once in a while. It’s like a little challenge or bet that I set with myself though I never last the full week!
Loan payments: None
Utilities: My partner pays and I put £250 on my Monzo card for all things food and cleaning products etc.
Transportation: £200 (Zones 1-4) and £250 on driving lessons.
Phone bill: £12.00, I also pay my sibling's phone bill £22.95.
Other: Gym, £24.00, trade union, £17, charity donations, £100
Savings? I try to put aside £1,200 a month and live on £225 for my little treats and random bits. I log my spends using the Fudget app to try and practice conscious spending. I find that I spend far too much in the first week after pay day and so try to practice ‘no spend’ weeks every once in a while. It’s like a little challenge or bet that I set with myself though I never last the full week!
I also have £8,000 in a generic savings account, £3,243 in help to buy ISA account and £135 in my slowly growing emergency fund.
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