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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 37-year-old risk analyst who works from home. I live with my husband, S, and our 4-year-old daughter, C, in the town that we grew up in. S and I are high school sweethearts; we have been together for nearly 23 years and married for seven. We have both progressed in our careers since we moved in together and are pretty comfortable month to month. We are very fortunate that we never had high childcare costs as both sets of parents helped with childcare before C went to nursery. I work 28 hours across three and a half days and have one and a half days off with C. She's starting school soon and I am going to really miss our days off together. We share all our income and expenses therefore all the totals below are based on the household."
Occupation: Risk analyst
Industry: Private healthcare
Age: 37
Location: Glasgow
Salary: £28,898 (pro rata from £36,000 as I work 28 hours out of 35 FTE). My husband's salary is £36,000.
Paycheque amount: £1,997 (my husband's paycheque is £2,150). Child benefit is £102.40 but we save this for C each month. Both wages go into one joint account and we share all our money.
Number of housemates: Two: my husband, S, and daughter, C.
Pronouns: She/her
Industry: Private healthcare
Age: 37
Location: Glasgow
Salary: £28,898 (pro rata from £36,000 as I work 28 hours out of 35 FTE). My husband's salary is £36,000.
Paycheque amount: £1,997 (my husband's paycheque is £2,150). Child benefit is £102.40 but we save this for C each month. Both wages go into one joint account and we share all our money.
Number of housemates: Two: my husband, S, and daughter, C.
Pronouns: She/her
Monthly Expenses
Housing costs: £323 mortgage (going up to £414 from next month as our fixed deal has run out).
Loan payments: £111.65 kitchen loan (only two more payments until it is paid off!).
Savings? £1,531 rainy day savings, £1,359 holiday savings, £1,150 40th birthday savings, £2,681 general savings, £10,000 house savings.
Pension? I pay 6% into my pension, I’m not sure how much my employer pays.
Utilities: £202 gas and electricity, £162 council tax, £30.46 internet, £13.25 TV licence.
All other monthly payments: £8.37 life insurance, £185.29 car, £57.03 EE, £65.43 S's phone, £27.99 C's swimming lessons, £17.99 boiler insurance, £78.33 couches on interest-free finance over four years, £25 Specsavers,
£16.25 C's gymnastics, £10 football, £20 gym. Subscriptions: £5 Netflix, £2.99 Apple storage.
Loan payments: £111.65 kitchen loan (only two more payments until it is paid off!).
Savings? £1,531 rainy day savings, £1,359 holiday savings, £1,150 40th birthday savings, £2,681 general savings, £10,000 house savings.
Pension? I pay 6% into my pension, I’m not sure how much my employer pays.
Utilities: £202 gas and electricity, £162 council tax, £30.46 internet, £13.25 TV licence.
All other monthly payments: £8.37 life insurance, £185.29 car, £57.03 EE, £65.43 S's phone, £27.99 C's swimming lessons, £17.99 boiler insurance, £78.33 couches on interest-free finance over four years, £25 Specsavers,
£16.25 C's gymnastics, £10 football, £20 gym. Subscriptions: £5 Netflix, £2.99 Apple storage.
Did you participate in any form of higher education? If yes, how did you pay for it?
I did well in school so the assumed path was university. I have a 2:1 honours degree in accounting and business law (hated most of it). Luckily, we don't pay tuition fees in Scotland and at the time I went to uni you also got your travel paid. I stayed at home and my mum and dad didn't take any dig money as I only worked part-time. I did take out a loan in my fourth year to buy my first car (it cost £2,000, haha).
I did well in school so the assumed path was university. I have a 2:1 honours degree in accounting and business law (hated most of it). Luckily, we don't pay tuition fees in Scotland and at the time I went to uni you also got your travel paid. I stayed at home and my mum and dad didn't take any dig money as I only worked part-time. I did take out a loan in my fourth year to buy my first car (it cost £2,000, haha).
Growing up, what kind of conversations did you have about money?
I don't remember ever having conversations about money other than "don't build up debt on a credit card". We always went on a couple of holidays each year including one abroad. We weren't rich but I think my mum and dad prioritised things like holidays and day trips and these are what you remember. Friends had bigger houses and I remember always wanting my own room as me and my sister shared until we moved out. Again I think my mum and dad prioritised making memories over having a bigger house.
I don't remember ever having conversations about money other than "don't build up debt on a credit card". We always went on a couple of holidays each year including one abroad. We weren't rich but I think my mum and dad prioritised things like holidays and day trips and these are what you remember. Friends had bigger houses and I remember always wanting my own room as me and my sister shared until we moved out. Again I think my mum and dad prioritised making memories over having a bigger house.
If you have, when did you move out of your parents'/guardians' house?
When I was 25.
When I was 25.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I became fully responsible when I moved out at 25. I know my parents and in-laws would help us out if we ever needed it. S and I share all our money, which I think is pretty unusual these days, but I could cover all the bills on my own if need be.
I became fully responsible when I moved out at 25. I know my parents and in-laws would help us out if we ever needed it. S and I share all our money, which I think is pretty unusual these days, but I could cover all the bills on my own if need be.
What was your first job and why did you get it?
I got a Christmas job in my local supermarket just after I turned 16. This got made permanent and I worked there right through until I was 21 and finished uni. My mum and dad and my grandparents gave me pocket money but I was encouraged to get a job to make some money of my own.
I got a Christmas job in my local supermarket just after I turned 16. This got made permanent and I worked there right through until I was 21 and finished uni. My mum and dad and my grandparents gave me pocket money but I was encouraged to get a job to make some money of my own.
Do you worry about money now?
No, I don't worry about money. We both earn a decent salary and there are options to progress in both our jobs. We would like to move house in the future so we are trying to build up money for that. We love our holidays so don't want to take on too big a mortgage.
No, I don't worry about money. We both earn a decent salary and there are options to progress in both our jobs. We would like to move house in the future so we are trying to build up money for that. We love our holidays so don't want to take on too big a mortgage.
Do you or have you ever received passive or inherited income?
I received £1,000 when my grandad died and used it for an extra holiday.
I received £1,000 when my grandad died and used it for an extra holiday.
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