Money Diary: A Primary School Teacher In Leeds On £33.8k
Last Updated 13 October 2023, 6:00
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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 primary school teacher, living in a suburb of Leeds. I now live alone after buying a house with a partner and subsequently breaking up. I took on all the house expenses, which allowed him to move out and get a new place (while the re-mortgage completed), as I will be staying in the house on a solo mortgage. Taking on the expenses of the house on my own has been a stretch, but it is so satisfying to work on a house that is your own and I feel so grateful to be in this position. I am trying to take my spending more seriously as I have a lot less disposable income now. This is hard in the summer holidays with so much free time to fill. I’m hoping this money diary will be a good chance to reflect on my outgoings.”
Occupation: Primary school teacher
Industry: Education
Age: 28
Location: Leeds
Salary: £33,850
Paycheque Amount: £2,012.50
Number of housemates: None
Pronouns: She/her
Industry: Education
Age: 28
Location: Leeds
Salary: £33,850
Paycheque Amount: £2,012.50
Number of housemates: None
Pronouns: She/her
Monthly Expenses
Housing costs: £731.19. After we split, I took over all the costs of the house, including the full mortgage payment. I am in the process of switching from a joint to a solo mortgage, which will reduce this payment, with the help of my parents.
Loan payments: £49 student loan.
Savings?: £1,500 emergency fund for the house, £10,000 in an ISA and about £900 in a separate savings account for an upcoming trip to Mexico.
Pension?: 8.6% of my gross salary. I don’t think about my pension much — I was automatically enrolled at the percentage I currently pay and have been paying into it for five years.
Utilities: £28 water, £134 gas/electric, £124 council tax, £22.44 house insurance, £24 Virgin Media.
All other monthly payments: £29.99 gym.
Subscriptions: £9.99 Twinkl; £8.99 Amazon Prime.
Loan payments: £49 student loan.
Savings?: £1,500 emergency fund for the house, £10,000 in an ISA and about £900 in a separate savings account for an upcoming trip to Mexico.
Pension?: 8.6% of my gross salary. I don’t think about my pension much — I was automatically enrolled at the percentage I currently pay and have been paying into it for five years.
Utilities: £28 water, £134 gas/electric, £124 council tax, £22.44 house insurance, £24 Virgin Media.
All other monthly payments: £29.99 gym.
Subscriptions: £9.99 Twinkl; £8.99 Amazon Prime.
Did you participate in any form of higher education? If yes, how did you pay for it?
I got student loans to cover the fees, as well as some living expenses. The loan didn’t completely cover my housing, so my parents also contributed each month. I also worked waitressing shifts over the holidays to cover my extra living costs.
I got student loans to cover the fees, as well as some living expenses. The loan didn’t completely cover my housing, so my parents also contributed each month. I also worked waitressing shifts over the holidays to cover my extra living costs.
Growing up, what kind of conversations did you have about money?
My parents are very money savvy, particularly my dad, and they’ve always extolled the virtues of saving. My mum is more relaxed about spending and encourages me to spend on things like holidays and time with friends. Neither of them are materialistic and prefer to spend money on activities, which I’m trying to emulate by reducing my spending on clothes and so on.
My parents are very money savvy, particularly my dad, and they’ve always extolled the virtues of saving. My mum is more relaxed about spending and encourages me to spend on things like holidays and time with friends. Neither of them are materialistic and prefer to spend money on activities, which I’m trying to emulate by reducing my spending on clothes and so on.
If you have, when did you move out of your parents’/guardians’ house?
I moved out when I was 18 for university. The summer that I finished, I moved back in for about five months.
I moved out when I was 18 for university. The summer that I finished, I moved back in for about five months.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I became financially independent aged 22 when I moved back to Leeds, where I was waitressing, as well as volunteering in a school while I secured a school-based job in Leeds.
I became financially independent aged 22 when I moved back to Leeds, where I was waitressing, as well as volunteering in a school while I secured a school-based job in Leeds.
What was your first job and why did you get it?
My first job was waitressing at weddings and events during college and university holidays. I applied for the job as a friend worked there and absolutely loved it for nearly five years.
My first job was waitressing at weddings and events during college and university holidays. I applied for the job as a friend worked there and absolutely loved it for nearly five years.
Do you worry about money now?
Yes! Since I have taken on the costs of the house myself, I worry lots about money, especially as my parents are helping me to take on the mortgage on my own. I feel a huge responsibility towards them and want to be respectful with my spending. I’m hoping this diary will allow me to reflect on my spending and make changes, while still maintaining my social life.
Yes! Since I have taken on the costs of the house myself, I worry lots about money, especially as my parents are helping me to take on the mortgage on my own. I feel a huge responsibility towards them and want to be respectful with my spending. I’m hoping this diary will allow me to reflect on my spending and make changes, while still maintaining my social life.
Do you or have you ever received passive or inherited income?
My parents contributed £10,000 to the deposit of my current home when my ex-partner and I initially bought it. As the house is not quite within my affordability on my own, they have offered to contribute more towards the house so that I can afford the mortgage solo. While this fills me with anxiety, and feels like a huge debt to repay, I am so grateful for their offer. This money will come from my mum’s inheritance from my lovely grandad.
My parents contributed £10,000 to the deposit of my current home when my ex-partner and I initially bought it. As the house is not quite within my affordability on my own, they have offered to contribute more towards the house so that I can afford the mortgage solo. While this fills me with anxiety, and feels like a huge debt to repay, I am so grateful for their offer. This money will come from my mum’s inheritance from my lovely grandad.
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