Money Diary Retiree In Cornwall On Pension

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, in honour of Life Begins At, our week celebrating women over 50, we're with a 65-year-old retiree in Cornwall...

"I’m living an idyllic life near the sea, after a terrible four-year illness. I live with my husband – we’re both retired and our two children have flown the nest.

I wake up each morning with the aim of making a difference to the lives of people less fortunate than myself, enjoying many voluntary/charity roles. My days are my own for the first time in my life and I maximise every hour.

I feel fortunate to have reached pensionable age and manage on my £600 monthly amount, together with some interest on savings and repayments from my daughter of her debts to top it up to £1,000. We’re also very lucky not to have a mortgage for the first time in our lives, after downsizing two years ago.

If for any reason we require extra money for the purposes of holidays, for example, we will dip into our savings, believing that it’s far more important to capture time with our precious family and treat everyone to a special holiday, than to leave it to them in our wills."

Industry: Retired
Age: 65
Location: Penzance, Cornwall
Salary: £1,000/month, a mixture of pension (£150/week) and savings allowance.
Number of housemates: One, my husband

Monthly Expenses

Housing costs: Council tax £130/month
Food: £250/month, includes entertainment
Utilities: £120/month
Transportation: Roughly £30/month on petrol (free buses)
Phone bill: £80 (includes mobile, TV/internet)
Savings contribution: £30
Other: £30 charity contribution