Money Diary: An Operations Manager On £49,000

This week: “I’m an ops manager in the East Midlands living with my two daughters. I have worked in the same company for over 10 years now and the stability and flexibility has been great while my children have been growing up. I divorced around four years ago and I’m currently single. I bought my ex out of the house almost immediately and although I’m keen to move to somewhere bigger, the increasing costs make it seem more out of reach. I try to put away a little each month to allow for a family holiday once a year, so that has wiped out my savings this year, but now I will start saving again for next year. I am conscious of my incomings and outgoings and try to stay on track throughout the month, and instil in my children how important it is to save, but they don’t listen!”

Occupation: Operations manager 
Industry: Retail 
Age: 42 
Location: East Midlands 
Salary: £49,000 
Paycheque Amount: £2,744 
Number of housemates: Two daughters, R and S, and one dog, J.
Pronouns: She/her 

Housing costs: £485 mortgage payment.
Loan payments: £135 car loan, £190 approximately for student loans, taken straight from my salary.
Savings?: £4,000.
Utilities: £210 energy, £43 water, £115 council tax, £33 broadband, £13.37 TV  licence.
Pension? I pay 6% and my company add 7%, totalling £245 per month.
All other monthly payments: £10 life insurance, £60 phone contracts, £19 pet insurance, £248 for my children’s activities. Subscriptions: £7 Netflix.

Did you participate in any form of higher education? If yes, how did you  pay for it? Yes, I did a degree that was funded by student loans and I’m still paying it off.

Growing up, what kind of conversations did you have about money?
My parents split when I was a baby. When I  was young we were quite well off and money was never an issue, but I remember my stepdad losing his job when I was around 10 and we really struggled for a few years financially after that. My parents have always taught me to be financially independent, to save and live within your means and they encouraged us to work hard for everything. 

If you have, when did you move out of your parents’/guardians’ house?
I moved out after uni when I was 23.

At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
When I moved out at 23. I’m financially responsible for myself now and nobody else covers any aspect of my living expenses.

What was your first job and why did you get it?
Working in a local pub-restaurant at the age of 14. I started washing dishes and worked my way up to waitressing, chef and bar, and kept this job for years. 

Do you worry about money now?
Yes! On a daily basis. Over the past year costs have steadily increased and I have found it more and more of a worry  covering all bills on one income. 

Do you or have you ever received passive or inherited income?
No, never.