Money Diary PR Account Manager On 27k

Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We're asking real people how they spend their hard-earned money during a seven-day period — and we're tracking every last penny.

This week: "I’m a 28-year-old PR account manager living in Leeds with my husband. We bought our house just over three years ago and we are currently in the process of buying a new house in a different area. The value of our current house has increased much higher than we thought and as our new house is in a more rural area where prices are lower, we’re expecting to gain some cash from the sale. We’re planning on using this to top up our savings after an expensive few years of buying a house, getting married, going on honeymoon and buying a horse. Most of my time and money is spent on my horse but I wouldn’t have it any other way. She’s an ex-racer who’s had a tough life. Overcoming some of her physical and emotional issues has been emotionally and financially challenging but she’s made amazing progress. I know I could earn more money in another role but none would allow the level of flexibility I have now and this is what’s most important to my lifestyle."

Occupation: PR account manager
Industry: Marketing
Age: 28
Location: Leeds
Salary: £27,700
Paycheque amount: £1,826
Number of housemates: My husband, M, and our three cats.
Pronouns: She/her

Monthly Expenses

Housing costs: £310 for my half of the mortgage.
Loan payments: £165 for my car.
Pension? I pay the minimum amount into my pension, I think it’s 5%.
Savings? I have around £600 in savings, which covers insurance excesses for my car and my horse. I’m trying really hard to build my savings back up after a series of big (expensive) life events.
Utilities: I transfer £300 into the joint account each month to cover my share of bills, food shopping and cat insurance. We split this cost as a percentage of what we earn, as M earns more than me.
All other monthly payments: £28 phone bill, £216 assisted DIY livery including unlimited hay and straw, £69 equine insurance, £7 rider’s insurance. Subscriptions: None.

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

I went to university, which was funded through student loans (I was eligible for the maximum amount, including maintenance grants) and working outside of termtime.

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

I don’t remember having many conversations about money growing up but I never felt like I went without anything. My dad paid child maintenance and my mum had a good salary, meaning I had a horse and at least one holiday most years. I’m sure this wasn’t easy for my mum and I’m really grateful to have had the childhood I did on pretty much one income (although I wish I had a better understanding of finances).

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

I moved out at 18 for uni but I went back during the holidays and after travelling. I moved out properly to live with my now husband when I was 24.

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

When I moved out properly at 24. However, I know my lifestyle is made much easier through sharing a mortgage and living costs with a partner who earns more than me.

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

I started working at a shop in a motorway service station when I was 17. Most of the other staff were my age and we were all really close. The pay was way above average for retail so I absolutely loved it and only left to get a full-time job after graduating.

Do you worry about money now?

It depends on the day. Sometimes I feel fine about it as I’m spending it in the best way possible for me; other days I feel really anxious about what would happen if my circumstances were to change.

Do you or have you ever received passive or inherited income?

I received £1,000 from my great grandma when she passed away about 15 years ago, and my grandparents very kindly gifted me £4,000 towards a house deposit.