Money Diary: A 25-Year-Old Radiographer On 31k (& Getting The Vaccine!)
Last Updated 13 January 2021, 7:20
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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 a 25-year-old diagnostic radiographer working for the NHS and living in Devon. I moved here three years ago after I graduated with my now ex-boyfriend and have been living by myself since November last year. With hindsight it was definitely not a great year to decide to live alone as I am usually very sociable and don’t love spending lots of time in my own company. I grew up in the southeast and none of my family lives locally, meaning I rely heavily on my friends for social interaction.
While the pandemic has made my social life nonexistent, it has really helped me get my financial ducks in a row. At the beginning of the year I had just maxed out a credit card to help furnish my flat, and still had my student overdraft hanging over me. By setting a proper budget (thanks Monzo) and not spending money on my usual social activities and holidays, I’ve managed to pay off the overdraft and nearly half my credit card debt.
This year has also brought newfound appreciation for the financial security my job offers. Working on the front line throughout the pandemic has been a real struggle at times but I’m very thankful that paying the bills was something I never had to worry about. Devon was in tier 2 while I was keeping this diary but I’ve found that for me personally there’s not much difference between tier 2 and lockdown (in the winter anyway), as I prefer not going to the shops if I can help it and I don’t have a household or support bubble to go out to eat with even if I wanted to."
Industry: Healthcare
Age: 25
Location: Devon
Salary: £31,365 (before overtime)
Paycheque amount: This can vary wildly depending on how much overtime I have worked. It’s usually in the region of £2,200-£2,800 (after my pension and student loan repayment).
Number of housemates: None
Age: 25
Location: Devon
Salary: £31,365 (before overtime)
Paycheque amount: This can vary wildly depending on how much overtime I have worked. It’s usually in the region of £2,200-£2,800 (after my pension and student loan repayment).
Number of housemates: None
Monthly Expenses
Housing costs: £500 rent for a one-bedroom flat (no bills included).
Loan payments: Student loan repayment is usually between £80-£180 (again varies depending on my paycheque) – I’m very lucky that I didn’t have to pay tuition fees as my degree was NHS sponsored at the time. Minimum of £200 a month to my credit card to clear it before the interest-free period ends.
Utilities: £24.70 water, £40.86 gas and electric, £36 internet, £79 council tax.
Transportation: £50 for petrol per month (anything over this comes out of ‘fun money’) and car tax monthly which is £10. I used to budget £50 a month for parking at work but since the first lockdown, parking has been free for staff. I pay for my car insurance annually.
Phone bill: £28 plus £7 insurance.
Savings? £600 in a Lifetime ISA set up earlier this year and £2,500 in various Monzo pots (£1k in car, £1k in holiday for when we can eventually travel again and the rest in a pot currently called 'lockdown/Christmas'). This is huge for me compared to the beginning of the year when I had no savings at all.
Other: £23 prescription skincare subscription, £9.99 Spotify, £21.33 Society of Radiographers membership, £7.99 Netflix. £20 quarterly for a home workout app since I cancelled my gym membership in the summer, £45 professional registration fees twice a year, £79 annually Amazon Prime.
Loan payments: Student loan repayment is usually between £80-£180 (again varies depending on my paycheque) – I’m very lucky that I didn’t have to pay tuition fees as my degree was NHS sponsored at the time. Minimum of £200 a month to my credit card to clear it before the interest-free period ends.
Utilities: £24.70 water, £40.86 gas and electric, £36 internet, £79 council tax.
Transportation: £50 for petrol per month (anything over this comes out of ‘fun money’) and car tax monthly which is £10. I used to budget £50 a month for parking at work but since the first lockdown, parking has been free for staff. I pay for my car insurance annually.
Phone bill: £28 plus £7 insurance.
Savings? £600 in a Lifetime ISA set up earlier this year and £2,500 in various Monzo pots (£1k in car, £1k in holiday for when we can eventually travel again and the rest in a pot currently called 'lockdown/Christmas'). This is huge for me compared to the beginning of the year when I had no savings at all.
Other: £23 prescription skincare subscription, £9.99 Spotify, £21.33 Society of Radiographers membership, £7.99 Netflix. £20 quarterly for a home workout app since I cancelled my gym membership in the summer, £45 professional registration fees twice a year, £79 annually Amazon Prime.
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