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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 29-year-old Regulatory Manager living in East London. I’ve lived here for the past few months with my boyfriend. Prior to this, I was living with my parents in Cambridge countryside. I really enjoy my life overall (having said that, I am long overdue a holiday). I enjoy the simple things, like meeting friends for coffee and cake, heading out for lunch, getting a workout in and I adore getting outside, whatever the weather. I’m not yet on the property ladder, but I was hoping to change that in the next few years. I’ve been with my partner for a little under a year and he earns significantly more than me (upwards of £120,000)."
Occupation: Regulatory Manager
Industry: Pharmaceuticals
Age: 29
Location: East London
Salary: £60,000
Paycheque Amount: £3,288.23
Number of housemates: One, my boyfriend, J.
Pronouns: She/her
Industry: Pharmaceuticals
Age: 29
Location: East London
Salary: £60,000
Paycheque Amount: £3,288.23
Number of housemates: One, my boyfriend, J.
Pronouns: She/her
Monthly Expenses
Housing costs: £400 – I pay to my boyfriend who owns the flat we live in.
Loan payments: My student loan is £245.
Savings?: I currently have £21,485 in my bank. I have £55,000 in my stocks and shares ISA. I pay £1,250 a month into my ISA and always pay off my credit cards each month.
Pension? I pay 5% into my work pension and work pay in 10%. I also have a private pension that I pay £100 a month — I’ve done this for the past 10 years.
Utilities: Included in my rent (my bf is an angel).
All other monthly payments: £9.99 phone, £33.99 Puregym.
Loan payments: My student loan is £245.
Savings?: I currently have £21,485 in my bank. I have £55,000 in my stocks and shares ISA. I pay £1,250 a month into my ISA and always pay off my credit cards each month.
Pension? I pay 5% into my work pension and work pay in 10%. I also have a private pension that I pay £100 a month — I’ve done this for the past 10 years.
Utilities: Included in my rent (my bf is an angel).
All other monthly payments: £9.99 phone, £33.99 Puregym.
Did you participate in any form of higher education? If yes, how did you pay for it? Yes. I did a four-year Chemistry undergrad degree with a sandwich year. I'm paying it off through salary deductions to Student Finance England. My parents had a decent income but couldn't afford to help me out financially whilst I was at university. I worked part-time while studying (at a National Trust site, so cushty, I can’t lie). I've also got a master's degree and a few other postgrad qualifications, all of which were paid for by my previous employers (studied part time, while working full time).
Growing up, what kind of conversations did you have about money?
We were very much a “yellow sticker” household (aka going to Tesco in the evenings and picking up the reduced bargains). We didn’t have any specific conversations about finances, but my brother and I were aware that money was tight and as a result, we knew not to ask for anything. As a result of this, I think about money quite a lot.
We were very much a “yellow sticker” household (aka going to Tesco in the evenings and picking up the reduced bargains). We didn’t have any specific conversations about finances, but my brother and I were aware that money was tight and as a result, we knew not to ask for anything. As a result of this, I think about money quite a lot.
If you have, when did you move out of your parents/guardians house?
When I was 18 years old to go to university. I have been back to my mum’s house for short stints between renting in various locations — I was trying to decide where I wanted to live, then I met J.
When I was 18 years old to go to university. I have been back to my mum’s house for short stints between renting in various locations — I was trying to decide where I wanted to live, then I met J.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I would say 18 when I went to university. Saying that, when I have moved home for short periods my mum wouldn’t charge rent. As I mentioned, J owns the flat — although I pay him rent, he includes the bills in this too.
I would say 18 when I went to university. Saying that, when I have moved home for short periods my mum wouldn’t charge rent. As I mentioned, J owns the flat — although I pay him rent, he includes the bills in this too.
What was your first job and why did you get it?
When I was 14, I worked as a waitress at a local café (a cash-in-hand sort of deal). My mum's job covered some expenses, but my brother and I had to work to help with food costs. I enjoyed interacting with the customers and becoming confident at a young age. Working there taught me valuable soft skills, which have helped me throughout my life.
Do you worry about money now?
Yes, though I’m making a conscious effort not to. Growing up, it was mostly just me, my mum and my younger brother. For a while, my aunt and her kids moved in with us too. We didn't have much money and that's shaped how I think today.
When I was 14, I worked as a waitress at a local café (a cash-in-hand sort of deal). My mum's job covered some expenses, but my brother and I had to work to help with food costs. I enjoyed interacting with the customers and becoming confident at a young age. Working there taught me valuable soft skills, which have helped me throughout my life.
Do you worry about money now?
Yes, though I’m making a conscious effort not to. Growing up, it was mostly just me, my mum and my younger brother. For a while, my aunt and her kids moved in with us too. We didn't have much money and that's shaped how I think today.
Do you or have you ever received passive or inherited income?
No.
No.
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