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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 27-year-old project manager from a smallish town in Cheshire. I’ve lived in the same town my whole life and despite hating it as a child, I have grown to love it, and I couldn’t see myself anywhere else now. I purchased my first property, a one-bed apartment, earlier this year. I live there alone, which I love. I am very grateful to be in a position where I’m able to experience living alone as I know it is a luxury not everyone can afford.
Work-wise, 'project manager' is the best title we could come up with as my role is extremely varied and spans several different businesses and industries. I work alongside an owner of multiple businesses and I work on whatever is needed at the time; sometimes it's heading up the rollout of a new CRM (customer relationship management) system, other times it's planning permission for one of his properties. I love my job and the variety I have, although I do sometimes see people getting bored when I try to explain what I do for a living. I’ve been with my partner, E, for several years now. We met at a music event through mutual friends; six months later, we started dating. He lives around 50 miles from me so we split our weekends between each other's houses. We are very lucky to have met through friends and despite the distance, we each have close friends in the other's hometown, which keeps us nice and busy on the weekends!"
Occupation: Project manager
Industry: Several
Age: 27
Location: Cheshire
Salary: £34,000
Paycheque amount: £2,220
Number of housemates: None
Pronouns: She/her
Industry: Several
Age: 27
Location: Cheshire
Salary: £34,000
Paycheque amount: £2,220
Number of housemates: None
Pronouns: She/her
Monthly Expenses
Housing costs: £342 mortgage.
Loan payments: £0
Savings? £1,250 in a "bills" account. I put £250 per month in here to pay for service charges/buildings insurance. I’ve had no contact from the managing company since I bought the property (despite me chasing them). I know this bill is going to come eventually but for now, it's nice seeing it build up. I will also use this pot to pay for my car insurance renewal when it is due. I have £4,000 in a personal savings account, to which I’m currently adding £500/month to rebuild my savings since buying my apartment (and admittedly a summer full of holidays and events). Once I have a good emergency fund, I will be reducing this to £250 a month and putting the rest into investments.
Pension? I pay 5% and I believe between my employer and the tax relief from the government, this is made up to 10%. There's only about £5k in there currently and I am acutely aware that I need to be preparing for the future better.
Utilities: £29.30 water, £122.83 for gas, electricity and broadband combined.
All other monthly payments: £103 council tax, £10 giffgaff SIM only, £10.90 life insurance, £11.79 income protection, £11.41 contents insurance policy, £16.62 for my car tax. Subscriptions: £4.99 Netflix, £10.99 Spotify, £26 Now TV Sports, £10 Guide Dogs charity, £2.99 Apple storage, £2.29 F1 app.
Loan payments: £0
Savings? £1,250 in a "bills" account. I put £250 per month in here to pay for service charges/buildings insurance. I’ve had no contact from the managing company since I bought the property (despite me chasing them). I know this bill is going to come eventually but for now, it's nice seeing it build up. I will also use this pot to pay for my car insurance renewal when it is due. I have £4,000 in a personal savings account, to which I’m currently adding £500/month to rebuild my savings since buying my apartment (and admittedly a summer full of holidays and events). Once I have a good emergency fund, I will be reducing this to £250 a month and putting the rest into investments.
Pension? I pay 5% and I believe between my employer and the tax relief from the government, this is made up to 10%. There's only about £5k in there currently and I am acutely aware that I need to be preparing for the future better.
Utilities: £29.30 water, £122.83 for gas, electricity and broadband combined.
All other monthly payments: £103 council tax, £10 giffgaff SIM only, £10.90 life insurance, £11.79 income protection, £11.41 contents insurance policy, £16.62 for my car tax. Subscriptions: £4.99 Netflix, £10.99 Spotify, £26 Now TV Sports, £10 Guide Dogs charity, £2.99 Apple storage, £2.29 F1 app.
Did you participate in any form of higher education? If yes, how did you pay for it?
I didn’t. I left college after the first year and got an apprenticeship in an office just before my 17th birthday. I made a total of £400 per month — how apprentice wages are legal, I will never know. I have been working full-time ever since.
I didn’t. I left college after the first year and got an apprenticeship in an office just before my 17th birthday. I made a total of £400 per month — how apprentice wages are legal, I will never know. I have been working full-time ever since.
Growing up, what kind of conversations did you have about money?
There were never many money conversations when I was younger. For most of my childhood, my mum was able to be a stay-at-home mum while my dad supported the family on his own. He worked long hours and late nights to make this possible and his sacrifice was not lost on us. Our parents never let us go without what we needed, however I do remember feeling a lot of guilt surrounding money when I was younger. I would try to convince my parents that I did not want to go on school trips etc. as I wanted us to have more time together.
There were never many money conversations when I was younger. For most of my childhood, my mum was able to be a stay-at-home mum while my dad supported the family on his own. He worked long hours and late nights to make this possible and his sacrifice was not lost on us. Our parents never let us go without what we needed, however I do remember feeling a lot of guilt surrounding money when I was younger. I would try to convince my parents that I did not want to go on school trips etc. as I wanted us to have more time together.
If you have, when did you move out of your parents'/guardians' house?
I moved out at 26, into the apartment I recently purchased.
I moved out at 26, into the apartment I recently purchased.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I have worked since 16, which is when I stopped receiving any money from my parents. I started paying board and purchasing all my own food, toiletries etc. at my parents' house from around 18.
I have worked since 16, which is when I stopped receiving any money from my parents. I started paying board and purchasing all my own food, toiletries etc. at my parents' house from around 18.
What was your first job and why did you get it?
I got a job as a waitress in a local pub straight after my 16th birthday because I wanted to learn to drive as soon as possible. I saved almost every penny I earned and was able to buy a car and pay for my driving lessons when my 17th birthday rolled around.
I got a job as a waitress in a local pub straight after my 16th birthday because I wanted to learn to drive as soon as possible. I saved almost every penny I earned and was able to buy a car and pay for my driving lessons when my 17th birthday rolled around.
Do you worry about money now?
Yes and no. I worry about saving enough for the future, and I worry I don’t have the financial literacy to make the correct decisions surrounding that. I also worry in a way about being able to pay my bills. I feel a strange kind of guilt sometimes when spending money in case I ever find myself out of work as I don’t have anyone in the house to fall back on if anything happens to my income. That being said, I try not to restrict myself as I want to make sure I enjoy my life.
Yes and no. I worry about saving enough for the future, and I worry I don’t have the financial literacy to make the correct decisions surrounding that. I also worry in a way about being able to pay my bills. I feel a strange kind of guilt sometimes when spending money in case I ever find myself out of work as I don’t have anyone in the house to fall back on if anything happens to my income. That being said, I try not to restrict myself as I want to make sure I enjoy my life.
Do you or have you ever received passive or inherited income?
Yes. Unfortunately I've lost a lot of my immediate family over the years, which meant that when my final grandparent passed in 2022, my mother's share of the estate was split between myself and my sibling. I received £27,000, which, along with my personal savings of a similar amount, enabled me to put down a large deposit on my apartment. I am aware of what a privilege it is to receive money like this and that not everyone will be afforded the same opportunity but, like anyone else in a similar position, I would still much rather have my mum and grandparents here with me instead.
Yes. Unfortunately I've lost a lot of my immediate family over the years, which meant that when my final grandparent passed in 2022, my mother's share of the estate was split between myself and my sibling. I received £27,000, which, along with my personal savings of a similar amount, enabled me to put down a large deposit on my apartment. I am aware of what a privilege it is to receive money like this and that not everyone will be afforded the same opportunity but, like anyone else in a similar position, I would still much rather have my mum and grandparents here with me instead.
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