Money Diary: A Senior Strategist on £95,000

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 32-year-old strategist working in the southeast. I relocated out of London with my long-term partner during the pandemic to be closer to friends and family. Since being here we have got a dog and I really love the benefits of having the countryside on my doorstep. My savings have been massively depleted by the house move and making improvements to our Victorian property, which has needed several upgrades. However I’ve really enjoyed making our house a home, even if I often feel mildly panicked by the future investment required to maintain it and my lack of safety net. I’ve definitely loosened my attitudes to saving. I used to obsess about it; now I am definitely someone who tries to enjoy their money every so often."

Occupation: Senior strategist
Industry: Construction
Age: 32
Location: Southeast
Salary: £95,000
Paycheque Amount: £5,000 monthly.
Number of housemates: Two: my partner, T, and our dog, P.
Pronouns: She/her

Monthly Expenses

Housing costs: £1,600, which covers my share of the mortgage and key household bills plus life insurance, house insurance, pet insurance and council tax. I pay more than T (who pays in £1.1k) as I earn around £15k more per year.
Loan payments: £215 for my half of our loan. I paid off my student loan in 2021.
Pension? I pay 7% of my salary and my employer matches this (about £1.1k in total per month). I have about £80k in total across three pots.
Savings? £8.8k in my ISA.
Utilities: Our total bill is roughly £250 on electric and gas, £33 on water (included in housing costs).
All other monthly payments: £33 phone, £10 to local hospice, £5 Labour Party membership, £100 for the cleaner (she comes twice a month for three hours). Subscriptions: £10 Omaze subscription, £85 dog food subscription.

Did you participate in any form of higher education? If yes, how did you pay for it?

Yes, I did an undergraduate degree. I had a student loan and maintenance loans as I didn't quality for any bursaries.

Growing up, what kind of conversations did you have about money?

My parents were always money-conscious, especially my dad. He'd always be down the reduced aisle in Tesco and I was never the kid with the latest trainers. Things like "I want never gets" and "money doesn't grow on trees" were common phrases in our house. I always had what I needed and I am super grateful and privileged to have had this upbringing. We were comfortable but never a wealthy family. My mum always taught me about savings and opened an ISA for me at a young age — it never had more than some birthday money in it but it taught me key lessons about putting money aside. Although we had some challenges with my dad being out of work for a while and my mum returning to work for a couple of years in her late 60s after retiring, I never had to endure any real struggles, unlike some of my schoolfriends.

If you have, when did you move out of your parents'/guardians' house?

I was 23 when I moved out to rent with my partner.

At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?

When I moved out at 23. Since then I have covered all financial aspects of my life.

What was your first job and why did you get it?

I was 18 and working in retail on weekends and full-time during the holidays. I got the job when I was at uni to support paying for nights out and food etc.

Do you worry about money now?

All the time. I worry constantly about losing my job and not being able to afford our house and lifestyle. I think growing up and seeing my dad out of work for a few years has made me a bit insecure. I earn more than I ever thought would be possible in my lifetime so I feel like I have a lot to lose now I have a house and a fairly big mortgage.

Do you or have you ever received passive or inherited income?

I received £15k from my parents towards my first flat deposit around seven years ago. I'm extremely grateful to them for their support and I am aware of how lucky I am to have received this.