ADVERTISEMENT
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 30-year-old senior graphic designer living in Glasgow and working in the financial services industry. I’ve been in the same job since I graduated and seem to have really found my niche, which I’m super grateful for. I bought my flat completely independently six years ago after hard saving for two years, despite my salary being around £22-24k at that point. It’s probably still one of the things I’m proudest of. Despite being able to save when things really matter, I’m hyperaware of lifestyle creep and even though my salary has grown a lot since I started full-time employment, so have my monthly outgoings. I’m a lover of a budgeting spreadsheet and yet impulsive spending always seems to win! I’m super into fashion, gaming, food and just general wee treats (who isn’t?) so trying to curb the spending on these is so difficult. I've been single for a while and so I'm very used to paying for everything myself. I’ve recently started dating again and I’ve found the monetary aspect an interesting change as I’ve realised I struggle with other people paying for things for me. I don’t think this is bad but I seem to be harbouring a lot of guilt around letting people pay for stuff!"
Occupation: Senior graphic designer
Industry: Financial services
Age: 30
Location: Glasgow
Salary: £35,500
Paycheque amount: £2,257
Number of housemates: None
Pronouns: She/her
Industry: Financial services
Age: 30
Location: Glasgow
Salary: £35,500
Paycheque amount: £2,257
Number of housemates: None
Pronouns: She/her
Monthly Expenses
Housing costs: £380 mortgage (this will be going up by around £30 after a mortgage renewal later in the year).
Loan payments: £150 on a £6k personal loan which I used to cover a final car payment/home renovations. I have never looked at my student loan and just accepted whatever it took off my pay every month.
Savings? Only around £1,000 at the moment. I would love this to be higher but I haven't been the most savvy with my money and keep dipping into it despite putting £150 into it every month.
Utilities: £96 electric and gas, £40 internet, £104 council tax.
Pension? I pay in 5% and my employer pays 10%.
All other monthly payments: £23 boiler insurance, £17 home insurance, £14 contact lens direct debit, £50 phone. Subscriptions: £25 gym, £12 Spotify, £10 Netflix, £11 Disney+, £10 Kindle Unlimited, £12 YouTube Premium, £7 Playstation+, £12 Final Fantasy XIV game subscription, £10 Discord Nitro, £1.50 Google cloud storage.
Did you participate in any form of higher education? If yes, how did you pay for it?
Yes, I attended university and did an undergraduate degree. I took the full loan amount and also worked in a supermarket part-time. I only moved out for one year of university so living at home for most of it did help with costs.
Loan payments: £150 on a £6k personal loan which I used to cover a final car payment/home renovations. I have never looked at my student loan and just accepted whatever it took off my pay every month.
Savings? Only around £1,000 at the moment. I would love this to be higher but I haven't been the most savvy with my money and keep dipping into it despite putting £150 into it every month.
Utilities: £96 electric and gas, £40 internet, £104 council tax.
Pension? I pay in 5% and my employer pays 10%.
All other monthly payments: £23 boiler insurance, £17 home insurance, £14 contact lens direct debit, £50 phone. Subscriptions: £25 gym, £12 Spotify, £10 Netflix, £11 Disney+, £10 Kindle Unlimited, £12 YouTube Premium, £7 Playstation+, £12 Final Fantasy XIV game subscription, £10 Discord Nitro, £1.50 Google cloud storage.
Did you participate in any form of higher education? If yes, how did you pay for it?
Yes, I attended university and did an undergraduate degree. I took the full loan amount and also worked in a supermarket part-time. I only moved out for one year of university so living at home for most of it did help with costs.
Growing up, what kind of conversations did you have about money?
My parents had vastly different attitudes to money. My mum is meticulous about her finances and never really splurged on things for herself but always made sure I had lovely clothes and was very well looked after. She's talked about how she would budget to the last penny when it came to food shops and that it was very hard sometimes. I felt very shielded from this as a child and didn't appreciate it until I was an adult. My dad was more of a “splurge and deal with the consequences later” person. As a child you just see the fun aspect of getting new toys, clothes etc. so I never saw the negatives of this until I was an adult, even though I remember the word “skint” being thrown around a lot when I was wee. Now as an adult, I feel I have aspects of both my parents’ financial decisions in me but definitely lean more towards splurging on the daily.
My parents had vastly different attitudes to money. My mum is meticulous about her finances and never really splurged on things for herself but always made sure I had lovely clothes and was very well looked after. She's talked about how she would budget to the last penny when it came to food shops and that it was very hard sometimes. I felt very shielded from this as a child and didn't appreciate it until I was an adult. My dad was more of a “splurge and deal with the consequences later” person. As a child you just see the fun aspect of getting new toys, clothes etc. so I never saw the negatives of this until I was an adult, even though I remember the word “skint” being thrown around a lot when I was wee. Now as an adult, I feel I have aspects of both my parents’ financial decisions in me but definitely lean more towards splurging on the daily.
If you have, when did you move out of your parents’/guardians’ house?
For one year of uni and then properly at 24.
For one year of uni and then properly at 24.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I would say I became completely financially responsible at 24 as there were still benefits to living at home before I moved out.
I would say I became completely financially responsible at 24 as there were still benefits to living at home before I moved out.
What was your first job and why did you get it?
I was 16. It was in retail, working at the weekends. I was always highly encouraged to get a job but remember feeling quite overwhelmed as it was quite far away and I was also studying for exams. I did very much enjoy the money at the time though, despite earning just £4.21 an hour.
I was 16. It was in retail, working at the weekends. I was always highly encouraged to get a job but remember feeling quite overwhelmed as it was quite far away and I was also studying for exams. I did very much enjoy the money at the time though, despite earning just £4.21 an hour.
Do you worry about money now?
Yes and no. I technically shouldn't as I don't have a huge amount of outgoings and recently got a large wage rise. However, I worry I will not see the benefits of this if I cannot get my silly spending under control. Lifestyle creep is so real! I would really love to put more money into savings/learn about investing my money better.
Yes and no. I technically shouldn't as I don't have a huge amount of outgoings and recently got a large wage rise. However, I worry I will not see the benefits of this if I cannot get my silly spending under control. Lifestyle creep is so real! I would really love to put more money into savings/learn about investing my money better.
Do you or have you ever received passive or inherited income?
When I turned 18 my gran gave me an account that she had been saving £5 into for years. I think there was around £1,800 in it. I remember feeling so grateful for this and although I dipped into it slightly, it became the basis of my future savings. I received £5,000 for a home renovation from one set of parents after they downsized, which was incredibly generous of them and something I’ve struggled with accepting.
When I turned 18 my gran gave me an account that she had been saving £5 into for years. I think there was around £1,800 in it. I remember feeling so grateful for this and although I dipped into it slightly, it became the basis of my future savings. I received £5,000 for a home renovation from one set of parents after they downsized, which was incredibly generous of them and something I’ve struggled with accepting.
ADVERTISEMENT