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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 27-year-old NQ solicitor from Wiltshire. I've been living with my partner G for two years and last year we got a dog, P, who is the light of our lives. I have been in my current job for just over a month as I moved firms after I qualified. This was not in my career plan but my previous firm messed me around a bit and I have no regrets whatsoever as I can see myself staying here for a while yet. In July last year, G and I bought our first house which I saved hard for after doing my postgrad. The house isn't a doer-upper, but it needs some love (who thought purple walls and purple carpets were a good idea?). With the massive rise in costs over the last year we simply haven't been able to afford to do anything we want to do to the house. However, now that G and I have good jobs and good wages we are looking forward to doing up the house, going on some lovely holidays and spoiling P rotten."
Occupation: Solicitor
Industry: Law
Age: 27
Location: Wiltshire
Salary: £42,000
Paycheque Amount: Unsure of the exact amount yet, but I believe it'll be around £2,400 (after student loans).
Number of housemates: 2, G and P.
Pronouns: she/her
Industry: Law
Age: 27
Location: Wiltshire
Salary: £42,000
Paycheque Amount: Unsure of the exact amount yet, but I believe it'll be around £2,400 (after student loans).
Number of housemates: 2, G and P.
Pronouns: she/her
Monthly Expenses
Housing costs: £400 mortgage for my half. We got such a good rate the week before interest rates went crazy.
Loan payments: Student loan (I'm unsure what this is as my salary has just increased.)
Savings?: £1,500
Pension? Yes. It will be 3% which will be matched by my employer. I paid into my pension at my last firm, but there won't be much in it.
Utilities: £108.50 council tax, £37.50 gas and electricity, £18.50 wifi (my half).
All other monthly payments: £178 car, £38.25 car and home insurance, £14.35 pet insurance (my half). £10 sim-only, £20 gym, £0.79 Apple storage, £6.11 life insurance £6.11. Subscriptions: £7 Spotify, £4 NOWTV, £10 Estrid razors. £42 for a season of netball fees.
Loan payments: Student loan (I'm unsure what this is as my salary has just increased.)
Savings?: £1,500
Pension? Yes. It will be 3% which will be matched by my employer. I paid into my pension at my last firm, but there won't be much in it.
Utilities: £108.50 council tax, £37.50 gas and electricity, £18.50 wifi (my half).
All other monthly payments: £178 car, £38.25 car and home insurance, £14.35 pet insurance (my half). £10 sim-only, £20 gym, £0.79 Apple storage, £6.11 life insurance £6.11. Subscriptions: £7 Spotify, £4 NOWTV, £10 Estrid razors. £42 for a season of netball fees.
Did you participate in any form of higher education? If yes, how did you pay for it?
Yes. I paid for my undergraduate degree with student loans and grants. I also worked at uni (even though I didn't need to as I got the largest amount of loan). For my LPC and masters, I paid £1,000 upfront, took the student loan for £10,500 and took out a further education loan for £5,000. When I finished uni, I worked for 18 months to save up for my postgrad and general living when I was studying. The interest rate on the further education loan was silly. When I finished my LPC I took out a personal loan with the bank and paid off the £5,000. This was the best financial decision I have ever made. For context, I took the £5,000 loan out in 2019 and I would only be half way through paying it now. I managed to pay off the bank loan in around ten months.
Yes. I paid for my undergraduate degree with student loans and grants. I also worked at uni (even though I didn't need to as I got the largest amount of loan). For my LPC and masters, I paid £1,000 upfront, took the student loan for £10,500 and took out a further education loan for £5,000. When I finished uni, I worked for 18 months to save up for my postgrad and general living when I was studying. The interest rate on the further education loan was silly. When I finished my LPC I took out a personal loan with the bank and paid off the £5,000. This was the best financial decision I have ever made. For context, I took the £5,000 loan out in 2019 and I would only be half way through paying it now. I managed to pay off the bank loan in around ten months.
Growing up, what kind of conversations did you have about money?
We didn't really talk about money. As an adult I can see that we relied on my grandparents for holidays but day to day my mum and dad were not very well off.
We didn't really talk about money. As an adult I can see that we relied on my grandparents for holidays but day to day my mum and dad were not very well off.
If you have, when did you move out of your parents/guardians house?
I moved out for uni in 2014 and went back after I graduated. I stayed there until two years ago when G and I moved out.
I moved out for uni in 2014 and went back after I graduated. I stayed there until two years ago when G and I moved out.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I would say I have only become financially responsible since I qualified. Prior to this, I relied on G to pay for his share of our house/bills etc. Now if we were to split up (I hope this never happens!) I would be able to pay the mortgage, bills and have "fun money" too.
What was your first job and why did you get it?
Working at a shop in town when I was 16. I had so much fun in this job and I still have a group of friends from it. I got the job as all my other friends parents were able to give them spending money whereas mine couldn't.
I would say I have only become financially responsible since I qualified. Prior to this, I relied on G to pay for his share of our house/bills etc. Now if we were to split up (I hope this never happens!) I would be able to pay the mortgage, bills and have "fun money" too.
What was your first job and why did you get it?
Working at a shop in town when I was 16. I had so much fun in this job and I still have a group of friends from it. I got the job as all my other friends parents were able to give them spending money whereas mine couldn't.
Do you worry about money now?
Yes but I am hoping this will ease now that G and I are on good money.
Yes but I am hoping this will ease now that G and I are on good money.
Do you or have you ever received passive or inherited income?
Yes. I received around £1,000 when I was 18 from my grandparents. I think this was money in bonds but I can't remember. Last year when we were buying our house my Nanna also gifted me £2,750 for the costs associated with this.
Yes. I received around £1,000 when I was 18 from my grandparents. I think this was money in bonds but I can't remember. Last year when we were buying our house my Nanna also gifted me £2,750 for the costs associated with this.
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