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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’m 31, living in SE London with my partner, J, and our dog, B. We bought our place at the end of last year after years of saving (renting in London while trying to save is near impossible – kudos to anyone who does it). I moved jobs in October last year so have only just started going back into the office and meeting my colleagues. We’re not back full-time by any stretch and at the moment I usually go into the office a day or two a week.
Me and my partner had our civil partnership in April of this year. After postponing the day once, we thought we might as well just get it out of the way (romantic, I know) so technically we are saving for our honeymoon but given all the uncertainty it’s hard to know if we’ll go ahead. Added to that is the fact that my partner recently left his job. He works in development, which has been stressful of late given cuts to the UK’s aid budget. He was under enormous pressure and reaching the point of burnout. His last day was only this week and we’re in a fortunate position where he’s able to take a bit of a break before looking at his next move."
Industry: Consultancy
Age: 31
Location: London
Salary: £72,000 + £8,000 bonus
Paycheque amount: £3,900 after tax and pension contribution
Number of housemates: One man and one doggo
Me and my partner had our civil partnership in April of this year. After postponing the day once, we thought we might as well just get it out of the way (romantic, I know) so technically we are saving for our honeymoon but given all the uncertainty it’s hard to know if we’ll go ahead. Added to that is the fact that my partner recently left his job. He works in development, which has been stressful of late given cuts to the UK’s aid budget. He was under enormous pressure and reaching the point of burnout. His last day was only this week and we’re in a fortunate position where he’s able to take a bit of a break before looking at his next move."
Industry: Consultancy
Age: 31
Location: London
Salary: £72,000 + £8,000 bonus
Paycheque amount: £3,900 after tax and pension contribution
Number of housemates: One man and one doggo
Monthly Expenses
Housing costs: £1,466 (mortgage), £136 (council tax), £201 (major works charge – we bought a leasehold from the council and got stung with some works that we’re now paying down interest-free over 36 months – J pays), £200 (service charge, which J pays).
Loan payments: £0. I got bursaries and awards that covered my tuition and worked part-time throughout university so came out without any student loans and I pay my credit card balance in full every month.
Utilities: J pays for all the utilities which he tells me comes to approx. £130 a month. Given I earn more than him, particularly now his incomings are zilch, I’m happy paying more.
Transportation: I cycle wherever I can but otherwise probably about £30 on buses and Ubers a month – can’t remember the last time I used the Tube!
Phone bill: £26
Savings? After buying a house, doing a fair amount of work on it and paying for our ceremony and the day, my savings are well and truly drained. I’m building it back up slowly and we’ve got a honeymoon fund thanks to the generosity of friends and family that amounts to almost £3,000.
Other: I bought a Peloton at the start of the year and cancelled my ClassPass subscription. I bought the bike outright but pay £39 a month for the subscription. It’s my one big splurge! £100 to UNHCR – I tend to make ad hoc donations to various charities throughout the month but this is my one commitment. Also pay for a subscription to Netflix (£9.99) which both my parents and in-laws use.
Loan payments: £0. I got bursaries and awards that covered my tuition and worked part-time throughout university so came out without any student loans and I pay my credit card balance in full every month.
Utilities: J pays for all the utilities which he tells me comes to approx. £130 a month. Given I earn more than him, particularly now his incomings are zilch, I’m happy paying more.
Transportation: I cycle wherever I can but otherwise probably about £30 on buses and Ubers a month – can’t remember the last time I used the Tube!
Phone bill: £26
Savings? After buying a house, doing a fair amount of work on it and paying for our ceremony and the day, my savings are well and truly drained. I’m building it back up slowly and we’ve got a honeymoon fund thanks to the generosity of friends and family that amounts to almost £3,000.
Other: I bought a Peloton at the start of the year and cancelled my ClassPass subscription. I bought the bike outright but pay £39 a month for the subscription. It’s my one big splurge! £100 to UNHCR – I tend to make ad hoc donations to various charities throughout the month but this is my one commitment. Also pay for a subscription to Netflix (£9.99) which both my parents and in-laws use.
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