Money Diary: A Tech Client Manager On 81k

Welcome to Money Diaries Extra 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.

In this week's Money Diaries Extra we hear from an American Express Platinum Cardmember.

This week: "I was born and bred in London but spent my teen years abroad before moving back to the UK for university. After completing my MA in literature, I decided to take a teaching position in Japan, which I did for three years. I loved the lifestyle I had but there weren’t really any opportunities to grow so I came back to London and jumped into the tech world. It was a massive culture shock but six years and several jobs later, I’m now in a company where I love the people, the work and I also get a good balance with my personal life.

When it comes to spending, I buy almost everything on my credit card, mainly with the Platinum Card® from American Express. I’ve tried pretty much every bank in town both for savings and credit cards and the £575 fee is totally worth it to me. I’ve had the Card for two years now. You get a good amount of Membership Rewards® points for signing up and all the little extra benefits are great. You also get Global Dining Credit to use abroad and in the UK, exclusive ticket access for concerts and theatre events, and airport lounge access. The Membership Rewards points can be redeemed at the brands I tend to shop at and also, the Card just looks impressive. [Editor’s note: Membership Rewards points convert to vouchers to get discounts when you shop.]

I have set-and-forget savings via a mix of salary sacrifice and direct debits so the rest of the income that I see is fun money that usually ends up in my belly. There are just so many must-eat places in London that I can’t say no to and I also love going to shows and concerts."

Occupation: Client manager
Industry: Tech
Age: 32
Location: London
Salary: £81,000 + variable bonuses
Paycheque amount: £3,100
Number of housemates: None
Pronouns: She/her

Housing costs: £1,300 mortgage.
Loan payments: I pay off my credit cards on time every month so I currently have no debt.
Savings? I have an emergency fund of £10,000 (following the three months' salary rule) and an automatic direct debit every month after payday to fill up. 
Utilities: £198 council tax, £50 water, £50 heating and £50 electricity.
Pension? I pay about 40% of my salary into my pension. This can be adjusted at any point but since I’m not saving for anything big right now, I’m happy to squirrel it away.
All other monthly payments: £10 phone data, £8.46 bike insurance, £180 gym membership, £2.49 digital storage. Subscriptions: £16.99 music streaming, £64 biannual toilet paper delivery.
Annual payments: £575 American Express Platinum Card annual fee.

I did a BA and a master's before the fees rose, which my parents kindly helped me out with financially. I had an allowance of about £1,000 a term and I paid for any additional expenses on top of that with a number of part-time jobs. I was a barista, a waitress, an admin assistant… You name it, I’ve probably done it!

My parents didn’t grow up with money so the concept of working hard for something was always discussed in our house. They always made sure we understood the value of money. Big purchases were always considered so I never spent impulsively and I always, always had to have savings. That said, my mum and dad didn’t want us to worry about money and always said that the most important thing was that we were rich at heart.

I moved out for uni and I haven’t been back properly since then. There was a six-month stint when I returned from working abroad but I moved out again after that.

I have been financially independent from the moment I graduated uni and thankfully I haven't had to ask for help since. 

My first job was working at a family fair. I was tasked with smiling widely and handing out flyers about printers all day. I really just wanted to know what working felt like and to earn my own money. It barely covered the travel costs but I was so proud of myself at the time.

Not really but I think that would change if I had dependants. I know I have enough to live on and my parents and brother are all financially independent so my concern is only for future generations (which is a topic I’m scared to think about).

When my grandma passed away she left each of her grandchildren £3,000. I put it straight into savings.