This week: “I’ve just moved in with my partner after being together for a year and a half. I’m very lucky that she owns her flat so my bills are now decreasing. I’ve never really had the chance to save before, as all my salary went on bills and general life. I’m really glad I can finally get some savings behind me and hopefully get a job with a higher salary soon so I can save even more.
One day we would like to sell the flat and move out of London but for now we are happy where we are. I’d like to be in a position where I can save so we can buy together when we do eventually move. My salary isn’t great but it’s surprisingly good for the level I’m at and the industry I’m in. I love working in publishing but I think my next move will be a similar role in a different industry so I can earn more. I was almost made redundant earlier this year, which was pretty scary, so my determination to start saving is higher than ever. If I had lost my job I would have been in a really tricky position and I would have needed to find a new job very quickly to continue paying rent and bills. Luckily I was able to take a very similar role at the company and nothing much has really changed in my day-to-day job. It definitely opened my eyes and made me realise my industry isn’t very stable so I’m keen to consider other options next year.”
Occupation: Sales and media assistant
Industry: Publishing
Age: 26
Location: London
Salary: £28,000
Paycheque amount: £1,789 after taxes, pension, student loan and all that fun stuff.
Number of housemates: My partner, L, plus cat (D) and dog (M).
Pronouns: She/her
Monthly Expenses
Housing costs: £100 rent paid to my partner as she owns the flat. This is to cover the monthly ground rent, which we split equally.
Loan payments: £39 student loan.
Pension? Yes, I contribute 5% and my employer contributes 3%.
Savings? £2,000. I’ve not managed to save much as I’ve not been earning enough and my previous rent and bills came to nearly £900 per month. Now that I’ve moved in with my partner, I can dedicate more of my monthly earnings to saving and when I get my deposit back from my previous place, that will go straight into savings too.
Utilities: £17.50 Wi-Fi, £12.50 water, £43.50 electric, £56 council tax.
All other monthly payments: £12 phone data plan, £48 car insurance, £44 for our storage unit. Subscriptions: £10 Spotify subscription, £2.49 Apple storage.
Did you participate in any form of higher education? If yes, how did you pay for it?
Yes, I studied for an undergraduate degree and then a postgraduate degree straight afterwards to maximise my chances of employment in the publishing industry. I was able to pay for it through student loans and a part-time job in a café throughout my entire time at university.
Growing up, what kind of conversations did you have about money?
My parents never really educated me about finances. They encouraged me to get a job as soon as I was able to but other than that they never pressured me into saving or taught me how to handle finances in the long term. My mum worked full-time in a low-paid job and my dad had two jobs but we were always comfortable and I never felt any worry from them. I think their knowledge about finances was also minimal and their main focus was to own our home and be able to afford a holiday every summer. My dad is now hospitalised with a severe illness and my mum is hoping to sell the house soon so she can buy somewhere much smaller and affordable. This has been a real worry for me as my dad made more money and took care of the finances.
If you have, when did you move out of your parents’/guardians’ house?
I moved out to go to university at 18 and I haven’t moved back.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I became financially responsible when I moved out at 18 and I have paid for everything since then. I’m very fortunate to have a partner who owns a home that I am now moving into but I will pay my fair share of everything.
What was your first job and why did you get it?
I worked at a clothes shop as a Christmas temp when I was 16 so I could save for driving lessons and my first car. I then worked various minimum wage jobs in hospitality until I graduated and got a job in publishing.
Do you worry about money now?
Yes, I worry about money a lot. I don’t really think I earn enough to be living in London. I’m careful with what I spend day to day but I wouldn’t say I let it stop me from living. I mainly spend my money on food and like to save for travelling and festivals in the summer. Now that I’ll be living with my partner and spending much less on rent and bills, I’m going to really focus on saving as much as I can to have a comfortable safety net and to learn more about how to build those savings long-term as I feel like my knowledge in that area is quite poor.
Do you or have you ever received passive or inherited income?
I’ve never received any passive or inherited income.
7.30am: Wake up feeling achy and exhausted so I take some extra resting time in bed while my partner, L, gets ready for work. I’ve been moving all weekend and I’ve booked today off to do the final clean and sort out any extra bits. I didn’t think I had that much stuff but it turns out two carloads wasn’t enough. I’ve just moved into the one-bed flat that L owns, making up a family of four with our cat, D, and dog, M.
8am: Take M out for a long morning walk as he’s been quite neglected over the weekend with the move and I’ve got another busy day ahead.
8.45am: Get back and have tea and toast for breakfast and relax with an episode of The White Lotus. My partner and her family seem to have access to every streaming service already logged in on the TV. I should probably see if there’s anything I can do to contribute but that’s a conversation for another day.
10am: Start cleaning all the moving mess in the flat that is a result of a busy weekend. Unload the dishwasher and clean the kitchen, hoover, change the bedding and continue unpacking my stuff. I’m exhausted already and I’ve still got plenty to do.
12pm: Break for another dog walk and eat some leftover pasta from the fridge for lunch. Cleaning always makes me hungry and I need to head out so I’m glad I ate now rather than spending money later.
1pm: Drive back to my old flat for another carload of belongings and to clean the bedroom. I was only there for 18 months but I barely spent any time there due to mould on the walls and not feeling safe in the area. I have a big hug with my old housemate and leave my keys behind. We’re still good friends and she’ll be staying there with a new set of flatmates.
3pm: Everything in the car is for the storage unit so I swing by on my way home.
4pm: Make one last trip to the storage unit for today before it closes. My petrol light comes on after all the trips back and forth to the old flat. I make a mental note to fill up next time I’m in the car.
4.30pm: Pick up something quick to pop in the oven for dinner as L is out tonight and I can’t be bothered to cook from scratch. I get chips, chicken nuggets, greens and a can of Diet Coke for £7.70. I usually put in some effort for dinner but not today.
6pm: Eat dinner with D and M while watching more TV. I don’t intend on moving at all this evening.
9pm: Get ready for bed and catch up with L, who arrives home earlier than I was expecting.
Total: £7.70
7.30am: Wake up for work. I’m in the office today so I hop in the shower and actually make some effort. L is working from home today so is on pet duty.
9.30am: It takes me about half an hour to get to work on public transport and costs £5.20 for my return journey.
2pm: I have a busy morning of meetings and catching up on emails as I was off for two days, which means I end up taking a later lunch than I’d like. I head to the food market nearby and begrudgingly spend £9 on a sandwich (even though it’s delicious and definitely worth it). I usually bring lunch but I have some disposable income now that I’m not spending all my money on rent so this is a treat I think I deserve.
3pm: Head back to work and spend the rest of the day writing press releases for upcoming titles and pitching to next year’s literary festivals.
5.30pm: Head home in the rain for a cosy night in.
7pm: Cook a saag paneer for mine and L’s dinner and spend the evening chatting about plans for the flat. We had the ingredients in from last week’s food shop, which I’m very thankful for.
10pm: Time for the usual bedtime routine of cuddles with D and M. I read my book before falling asleep and feel very settled and cosy in my new home.
Total: £14.20
8am: Wake up a bit later than I usually would since I’m working from home. I get up and walk the dog and pop a frozen croissant in the oven for breakfast.
9.30am: Log on to do some work. This morning is mainly spent catching up with authors and making plans for 2023 titles.
11am: See an email on my phone about presale tickets for a play I really want to see. I manage to get two restricted view seats (the cheapest ones they had) for me and my friend. I get them as a present so it’s £80 for the two.
1pm: I take my lunch break and heat up some leftover curry. I eat while changing my address on anything I think needs updating. The admin that comes with moving is probably the worst part. I then take M out for a lunchtime walk while I’m feeling energised.
2pm: Back to work, although the admin made it feel like I didn’t really stop. I spend the afternoon writing emails and doing some research into food podcasts that one of our authors can be pitched for.
5.30pm: Wrap up work and pick up L because it’s raining. I don’t get to use my car much living in London so why not.
7pm: L cooks us salmon for dinner and remembers that we have a few bits we need to order for the flat, which we discovered during the move. She orders a new extension cable and Command strips and pops the total on Splitwise. £9 for my half.
8pm: Settle down on the sofa to watch Bad Sisters and snuggle.
Total: £89
7.30am: Alarm goes off and I jump straight in the shower. Tea and toast for breakfast, which is the norm most days.
9am: Start work a bit earlier than I usually would as I know I’m going to be out and about today and offline while I’m on the Tube. I start by working my way through some frantic emails from my boss that she sent last night – it’s all or nothing.
10am: Head out to the office. I need to return some wine glasses we hired for an event last week so I Uber over to the warehouse as I don’t feel like breaking six boxes of wine glasses on the Tube today! I will expense this as it’s for work. I then have the usual travel charge of £5.20 to get to the office and back.
12pm: After some drama with the wine glasses, I finally head home. I pick up a coffee from Starbucks to enjoy on the Tube, £4, and two sandwiches for L and I from Pret to enjoy for lunch. I’m a sucker for a sandwich so it’s my treat, £11.
2pm: Jump back online for a meeting at home, which thankfully we speed through so I can catch up on some admin throughout the afternoon.
6pm: Head out to meet a friend at a local pub for a catch-up. First round is on me and she kindly returns the favour, £19.
9pm: I don’t stay out too late (it’s a school night after all). When I’m back there’s some pasta made for me, which I’m very thankful for.
10pm: Run myself a bath after dinner and watch TikTok until my mind goes numb and I’m ready to crawl into bed.
Total: £39.20
7.30am: Wake up and feed the hungry cat, who has been causing chaos for the last half an hour. How does he act like I’ve never fed him before when I know he’s been snacking on his biscuits all night?
8.30am: Take a slow morning stroll with M. Take a tea in a keep cup with me to stay warm and to stop me from buying anything while I’m out.
9.30am: Log on to work and crack on with some tasks. Do a weekly PR update, continue doing some research and chase up lots of links to publicity.
12.30pm: Take my lunch break and watch some TV. I have no effort in me to spend too long in the kitchen so I just make some pesto pasta for L and me. Delicious as ever.
1.30pm: We get chatting about storage solutions in the flat and order some more boxes that we have found helpful so far from John Lewis. We need quite a few so it’s a slightly higher spend but at least we know they look good and hold lots of stuff. £40 for my half.
5.30pm: Log off after an uneventful afternoon of work.
7pm: It’s a night in alone for me while L is out at a work event. I make some cauliflower tacos and run myself a bath.
9pm: Yes, I’m in bed at 9pm on a Friday. No, I absolutely do not mind.
Total: £40
8am: Wake up feeling refreshed and decide I want to go for a swim this morning at the local leisure centre. I book online for £6 and eat some toast before I head there.
10am: Call my mum on my walk to the pool and make some plans.
11.30am: Swimming makes me feel amazing but also starving. Walk home as fast as I can so I can eat last night’s leftovers.
12pm: Have a quick rest before getting ready to go out and do some shopping. L and I walk to the shopping centre. I’m already concerned about what I’ll spend.
4pm: Surprisingly I only spend £33 on a gift for a friend. We break for burgers for a very late lunch, £13 for my share.
6pm: Get home and check my bank balance and have the pleasant surprise that my deposit has been returned to me. £800 to go straight into my savings.
7pm: Spend the evening making some more improvements to the flat and watching films.
9pm: Neither of us is very hungry after our late lunch so L and I eat some cheese on toast before having a bath together and settling down for bed.
Total: £52
8am: Wake up being smothered by the cat and decide to read my book on the sofa with a tea while I wait for L to wake up.
10am: We eventually head out for a dog walk in the freezing cold and L grabs us some bits for breakfast (her treat).
11am: I’m meeting a friend later so I begin getting ready for the day.
1pm: Meet my friend at a market and browse for a few hours.
3pm: We grab a coffee and a cake each from a cute café, which I buy as my friend bought the cinema tickets for the film we’re seeing later, £15.
5pm: After a day of shopping we head to the cinema, popping to a local shop on the way for some snacks, £8.
8pm: Why not make the Sunday scaries even worse by seeing a horror film? The film we see is disturbing and I can’t get it off my mind on the way home. I wish my friend was heading the same way as me so we could debrief properly. My travel for the day is £8.
9pm: Try and take my mind off the film by watching something a bit more wholesome. Me and L curl up to watch A League of Their Own.
Total: £31
Food & Drink: £86.70
Entertainment: £80
Clothes & Beauty: £0
Home & Health: £55
Travel: £18.40
Other: £33
Total: £273.10
Conclusion
“I’m quite shocked at how much I spent this week but I think with the move it’s definitely higher than usual. If I were to take away those costs, I think it would be quite a good week for me as I didn’t do a weekly food shop, I didn’t buy any clothes for myself or really spend much while out and about. I’m really pleased I’ll have a bit more disposable income now I’m not spending so much on rent but I still need to be aware of my spending until I can increase my salary because it really doesn’t go far in London. This has definitely showed me that food and entertainment are my main spending areas but I’m happy to sacrifice in other areas if it means I can enjoy those two things.”
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