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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 33-year-old Brit who moved to France in 2017. I dreamt of living in France since I was about 16 and was drawing up half-arsed plans when the Brexit vote happened, so I realised I'd better get on with it. I arrived in Paris with very few plans, with the vague feeling I could move back to the UK if it didn't work out and I have been here ever since! Despite its bureaucracy and the people who judge you for not having a perfect accent, I love France and have applied for nationality. I currently work as a translator and writer for a media company. I met my partner L in 2022, then he moved in with me in 2023. He is on a work-study programme and earns less than me, so I contribute more to our daily household spending. I’ve been interested in personal finance since I was a teen and followed a weekly budget since I was at uni. However, moving to France in my mid-20s meant I had to learn a whole new tax, savings and investment system from scratch. It’s only been in the past couple of years that I’ve actually started to get my head around savings and investment accounts in France and I still have moments I feel very lost. I put money in savings at the beginning of the money following the Bento Budget method (the idea that every cent you earn has a specific purpose) and have dedicated fun money that I can’t feel guilty about spending. Saying all that, I still often feel a bit broke the week before payday!"
Occupation: Translator/writer
Industry: Media
Age: 33
Location Paris, France
Salary €40,000 + profit-sharing bonus which varies year to year, lowest was €1,600, highest was €5,000 + €180 every month in luncheon vouchers.
Paycheque Amount: €2,406.91
Number of housemates: One, my partner (L)
Pronouns: she/her
Industry: Media
Age: 33
Location Paris, France
Salary €40,000 + profit-sharing bonus which varies year to year, lowest was €1,600, highest was €5,000 + €180 every month in luncheon vouchers.
Paycheque Amount: €2,406.91
Number of housemates: One, my partner (L)
Pronouns: she/her
Monthly Expenses
Housing costs: €611.92 for a one-bed place. I've got an outstanding mortgage of €142,389.68. My mortgage is divided into two parts, €60,000 came from the French government and is interest-free as a help-to-buy loan. The other part, €82,389.68 is a traditional bank mortgage with an interest rate of 1.55%. I signed the terms of my mortgage in mid-2020 when interest rates were incredibly low. I'm very lucky as mortgage rates in France are set for the term of the mortgage so this won't increase!
L does not contribute to the mortgage, as the flat is completely in my name — I bought it before we moved in together. Instead, he puts aside €250 a month which then goes on things for the flat, treats for us, or towards bigger saving goals. It works for us!
Housing costs: €611.92 for a one-bed place. I've got an outstanding mortgage of €142,389.68. My mortgage is divided into two parts, €60,000 came from the French government and is interest-free as a help-to-buy loan. The other part, €82,389.68 is a traditional bank mortgage with an interest rate of 1.55%. I signed the terms of my mortgage in mid-2020 when interest rates were incredibly low. I'm very lucky as mortgage rates in France are set for the term of the mortgage so this won't increase!
L does not contribute to the mortgage, as the flat is completely in my name — I bought it before we moved in together. Instead, he puts aside €250 a month which then goes on things for the flat, treats for us, or towards bigger saving goals. It works for us!
Loan payments: My student loans have been paid off (see below), but I pay my parents back €175 per month as they lent me €55,000 to buy my flat. I still owe them €49,500. I pay them back every month the interest at 3% and then an extra €50. This is actually higher than my bank interest rate, but that was what the average UK mortgage interest rate was at the time, and they've given me so much already that I did not want them to be out of pocket.
Savings?: €230,000 flat value (estimated, using France's version of Zoopla), €421.51 holiday fund, €7,772.27 personal emergency fund, €294 personal buffer, €10,040.82
personal investment accounts, €1,400 joint holiday savings, €554 joint investments (for longer-term projects like kids).
personal investment accounts, €1,400 joint holiday savings, €554 joint investments (for longer-term projects like kids).
Pension? In France the sums you and your employer pay are fairly high, around 10% each, I think. Last year, I started putting €50 per month into an additional retirement savings account. In time I'd like to increase this.
Utilities: Water is covered in my building management fee which last year was €331.44 for my half, €30.16 for my half electricity and gas, €8 my half of the internet, €80 my share of flat insurance.
All other monthly payments: €30.50 charity donations, €24 top-up private health insurance, €10.20 mortgage insurance, €6.99 phone, €0.99 Apple storage, €88.80 transport pass, €12.90 beauty salon subscription, €35 Class Pass, €30 bi-monthly Russian language lessons, €4.10 Spotify share.
Did you participate in any form of higher education? If yes, how did you pay for it?
I did a four-year language degree with a year abroad and then a one-year Master's degree in the UK. I was in the penultimate year of the lower £3,500 or so fees. My parents and older family members had saved money for me from the day I was born, so I was very lucky that the tuition part of both my undergrad and Master’s was paid for. When one of my grandmothers died, my parents inherited a significant amount of money and paid off my maintenance loan, which I’m very grateful for. I’ve since done further training for work, which my company paid for.
Growing up, what kind of conversations did you have about money?
I grew up in a very middle-class household where I never wanted for anything. My parents see money as a tool, not as something worth sacrificing happiness and family for. They worked in education and would tell my sibling and I that they had a second-hand car because they wanted us to have a good education, that going on a caravan holiday meant we could have a longer one etc. As I got older, Mum taught me about keeping a budget and Dad explained about debt, how it wasn’t always bad and that credit cards are a great tool as long as you pay them off at the end of every month.
If you have, when did you move out of your parents/guardians house?
I first moved out of my parents’ house when I went to uni. However, I fell ill with chronic fatigue syndrome/ME in my last year of undergrad and while I got through my Master’s I had to move back in with them afterwards as I was too exhausted to hold down a job and be financially independent. I basically slept for a year, doing a bit of freelance work and paying my parents 10% of what I earned. I was lucky, I recovered from ME, and I was able to move out permanently when I was 25 when I moved to France.
At what age did you become financially responsible for yourself?
I became fully financially independent when I got a full-time, permanent contract when I was 26. As I live with a partner, he covers some aspects of my financial life. However, if the worst were to happen and I were solely responsible again, I would be fine financially.
I did a four-year language degree with a year abroad and then a one-year Master's degree in the UK. I was in the penultimate year of the lower £3,500 or so fees. My parents and older family members had saved money for me from the day I was born, so I was very lucky that the tuition part of both my undergrad and Master’s was paid for. When one of my grandmothers died, my parents inherited a significant amount of money and paid off my maintenance loan, which I’m very grateful for. I’ve since done further training for work, which my company paid for.
Growing up, what kind of conversations did you have about money?
I grew up in a very middle-class household where I never wanted for anything. My parents see money as a tool, not as something worth sacrificing happiness and family for. They worked in education and would tell my sibling and I that they had a second-hand car because they wanted us to have a good education, that going on a caravan holiday meant we could have a longer one etc. As I got older, Mum taught me about keeping a budget and Dad explained about debt, how it wasn’t always bad and that credit cards are a great tool as long as you pay them off at the end of every month.
If you have, when did you move out of your parents/guardians house?
I first moved out of my parents’ house when I went to uni. However, I fell ill with chronic fatigue syndrome/ME in my last year of undergrad and while I got through my Master’s I had to move back in with them afterwards as I was too exhausted to hold down a job and be financially independent. I basically slept for a year, doing a bit of freelance work and paying my parents 10% of what I earned. I was lucky, I recovered from ME, and I was able to move out permanently when I was 25 when I moved to France.
At what age did you become financially responsible for yourself?
I became fully financially independent when I got a full-time, permanent contract when I was 26. As I live with a partner, he covers some aspects of my financial life. However, if the worst were to happen and I were solely responsible again, I would be fine financially.
What was your first job and why did you get it?
I started babysitting for family friends when I was 14. I then started working for Next during the sales when I was 16 (still have a few Next sale red T-shirts somewhere!). I got around £6 an hour and it felt like riches.
Do you worry about money now?
I get outbreaks of financial anxiety when I spend a large amount, even for something I’ve saved for and know will improve my life. I worry about whether I’m saving enough for retirement or having kids, which I really want in the next few years. However, on a day-to-day basis, I don’t tend to. If I spend a bit too much one day, I know to cut down the next few.
Do you or have you ever received passive or inherited income?
Yes, I received £5,000 when each of my grandmothers died. I used the first £5,000 to move to France and the second on admin for French nationality and on the kitchen for the flat I now live in. I was ridiculously lucky not to have university debt, the support from my parents when I moved to France and their support in buying a flat. I really want to be able to do the same for my children one day.
I started babysitting for family friends when I was 14. I then started working for Next during the sales when I was 16 (still have a few Next sale red T-shirts somewhere!). I got around £6 an hour and it felt like riches.
Do you worry about money now?
I get outbreaks of financial anxiety when I spend a large amount, even for something I’ve saved for and know will improve my life. I worry about whether I’m saving enough for retirement or having kids, which I really want in the next few years. However, on a day-to-day basis, I don’t tend to. If I spend a bit too much one day, I know to cut down the next few.
Do you or have you ever received passive or inherited income?
Yes, I received £5,000 when each of my grandmothers died. I used the first £5,000 to move to France and the second on admin for French nationality and on the kitchen for the flat I now live in. I was ridiculously lucky not to have university debt, the support from my parents when I moved to France and their support in buying a flat. I really want to be able to do the same for my children one day.
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