Money Diary: An E-Commerce Project Manager On 38k

This week: "I'm a 24-year-old project manager in an e-commerce agency. I work remotely from home in the southeast. I prioritise spending on travelling and like to go on a number of city breaks and a few other holidays each year. Other than that, most of my spending is on eating out and experiences rather than material goods. One of my goals this year is to build up an emergency savings pot of a couple of months' worth of pay. I had done this previously but then spent it on a new car (which was very much needed). I do feel very privileged that I feel financially secure and owe a lot of this to my parents for educating me about the importance of saving from a very young age. I am also aware that my situation would be different if I were single, as I would have been unable to buy my first home by myself."

Occupation: Project manager
Industry: E-commerce
Age: 24
Location: Southeast 
Salary: £38,000
Paycheque amount: £2,374
Number of housemates: Two: my partner (K) and our dog (B). 
Pronouns: She/her

Housing costs: My share of the mortgage is £421.
Loan payments: £0
Savings? £800
Pension? Yes, I currently pay in 5% and my employer 3%.
Utilities: My share monthly is £77.50 council tax, £50 energy, £14.85 water, £8.10 home insurance.
All other monthly payments: Share of collective bills: £14.65 pet insurance, £8.30 vet's monthly plan, £6.62 TV licence, £11 internet. Bills that I cover in full: £37 phone contract, £40 car tax and insurance, £13 netball, £35 gym. Subscriptions: £9.95 Estrid razors every three months.

I did a degree apprenticeship, where I worked for a company four days a week and attended university one day a week for seminars. I watched lectures online outside of this time. The company paid for my degree and also paid me a salary for the duration of the course (just over two years). 

I feel like the importance of saving was really drilled into me from a young age. My family definitely lived within their means, not going abroad yearly or going out for food much, and they were very averse to any sort of debt (except their mortgage), which I think I have internalised. I certainly never felt the need to worry about money as a child, which I feel puts me in a privileged position. 

I moved out aged 21 when I purchased my first home with my boyfriend, K. My goal was always homeownership and I had been saving since I was about 17. We were very fortunate that the first COVID lockdown accelerated our savings as we both continued working while living with our parents and not paying a huge amount of rent. We also managed to buy in the period of uncertainty where house prices were slightly lower in the southeast.

I became financially responsible for myself aged 21, when I moved out of my family home. I did contribute to the household once I was 20, but it wasn't a huge amount. 

My first job was assisting a caterer when I was 14. I got it because I wanted to earn my own money as my parents moaned if I asked them for money. I moved on to working in an extremely busy café aged 15 for more hours, then to a higher paying retail role at 17 while in sixth form. 

I wouldn’t say I seriously worry about money. Our bills and mortgage have gone up but I know we can afford it as we earn similar incomes with no dependants (except our dog, B). I purposely went into a role where I have gained a lot of transferable skills but if the worst happened and I lost my job or split up with K, I feel like I would be welcome to stay with my parents. I do worry about my lack of savings but I recently used my post-home savings to purchase a new car. 

No.