This week: “I’m a 27-year-old digital marketing manager living in Bristol. I’ve lived here for almost five years now after moving here for my master’s and then loving it so much I stayed. At first I lived with a fellow postgrad student and then eventually moved in with my boyfriend and another friend. We finally moved into our own flat a year ago. We still don’t own a flat and probably won’t for a while but we love the place we live in and it’s super central. My partner is training to become an actor, alongside some part-time marketing work, so has just moved to Cardiff to do a 12-month master’s there. While he’s training I’m staying in the flat we started renting together. Thanks to a recent pay rise, I can stay at least for a few months to see how badly it dents my bank account!
I think I’m a bit of a mix of spender and saver. The second I’ve had a drink, I’m definitely a big spender and all sense of money rationality goes out the window. Because I’m lucky enough to have some savings from my parents I definitely don’t feel the extreme pressure to save but recently I have started thinking about this a lot more as most of my friends have bought their own houses and I’m getting to the point where I would like to do the same.”
Occupation: Digital marketing manager
Industry: Marketing
Age: 27
Location: Bristol
Salary: £30,000
Paycheque amount: £2,500
Number of housemates: None
Pronouns: She/her
Monthly Expenses
Housing costs: £800 (I live in the flat that me and my boyfriend lived in together before he moved so it’s more pricey than I would normally like to pay on rent but I can just about cover it).
Loan payments: Student loan £223, postgrad loan £180.
Savings? £5,000 personal savings and £20,000 from my family, which I can access but I’m saving to use for when I want to buy a flat or house.
Pension? I pay £176 monthly into my pension. I went for the middle ground option of 6% contribution so I have more liquid cash now but also am contributing.
Utilities: £70 energy, £90 council tax, £50 Wi-Fi, £400 national insurance.
All other monthly payments: £15 phone (although work covers this), £25 gym. Subscriptions: £7 Hayu, £8 Disney, £10 Now TV, £6.99 iPhone storage, £0.99 ASOS Premier.
Did you participate in any form of higher education? If yes, how did you pay for it?
I did an English lit degree and then did a master’s in social and cultural theory. My family helped me out massively both times, covering my rent. I used a loan for both degrees to fund the actual course and my general living costs. For my master’s degree I was lucky that the £10,000 loan covered the course itself and then I had a couple of extra grand to cover the cost of living.
Growing up, what kind of conversations did you have about money?
We didn’t talk much about money in terms of how to save it. My parents always told me the value of getting a pension and putting into it from a young age, although I didn’t fully understand why until I got a bit older. I still don’t really fully understand taxes, to be honest.
If you have, when did you move out of your parents’/guardians’ house?
I moved out ‘officially’ when I went to university at 19 but came back every summer in between terms to live there. I didn’t have a flat of my own that I paid rent on until I finished my master’s at 23 and then started paying my own rent and fully moved out.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I became financially responsible for myself when I finished my master’s at 23. I have a financial safety net in my parents as I know they could step in and help me if I had any chance of losing housing or if I lost my job. Also having a boyfriend means more costs are split, like travel costs on car trips and drinks and dinners out.
What was your first job and why did you get it?
During university I worked at my mum’s business for a few months each summer for a basic salary. I then created my own Depop when I was doing my master’s and started selling old clothes and using the money to buy vintage clothes cheap and sell them on at a profit. I managed to cover all my living costs (aside from rent, which my parents paid for) and managed to save £5k from it. When I finished my master’s I got my first job as a digital marketing exec at a PR company focused on sustainable companies.
Do you worry about money now?
As the cost of living has become so expensive I definitely think about it more. Since living on my own, I’ve sat down and worked out my average weekly finances for the first time. Working out whether I’d be able to cover the cost of my rent and bills on my own meant I had to think about my monthly spending versus income for the first time. It’s definitely harder now I have to cover the bills on my own and I do try to make small choices to save money that I didn’t think about before, like cutting down on takeaways and trying to go to shops that are cheaper.
Do you or have you ever received passive or inherited income?
I did get an allowance until I went to university and then had my rent paid during that time.
8am: I get to work for 8am on the dot. My work is about a 25 minute walk away so I don’t have to pay for my commute, which is lush. I enjoy the walk most days as I go past Bristol’s beautiful harbourside but today it’s raining so it’s not quite so enjoyable.
11am: I download the ‘spending’ part of my NatWest app after someone tells me about it and have my mind blown seeing that I spent over £400 on eating out last month. I realise I probably need to chill out, especially as we go out for a lot of gifted meals due to running a foodie Instagram, so most of that must’ve been takeaways. I promise myself I’ll cut down from a couple of takeaways a weekend to just one because I am not made of money.
1pm: It’s my friend’s birthday so I order her a top and a card online, £25.
5pm: I buy some salmon and other veggies to make myself and my boyfriend dinner, £15. We have loads of rice and noodles and the other ingredients in the cupboard so I only have to buy the fresh stuff. I always feel guilty buying salmon because it seems so expensive and a bit too boujee for a weekday lunch but food is my favourite part of the day so I always prioritise spending my money on it over other things.
10pm: Sleep.
Total: £40
7.45am: I stop by a small Saino’s on the way to work to buy satsumas and some snacks for my desk, £5. Given that it’s a small Sainsbury’s and they’re Taste the Difference, they cost more than I’d like. They’re about to start free fruit at work so that should help reduce the cost. We also have an amazing coffee machine so I save loads of money having the coffee at work rather than buying any out.
4.30pm: I run a food Instagram and have been gifted a gorgeous cooking pot from Our Place (would’ve been £140 to buy). They sent me it a couple of weeks back and I feel bad for being so slack on getting the content out so I decide to cook in it to shoot and do a post about. We already have lots of the ingredients at home so I just pop into the small Tesco on my way home to buy the mince, carrots and a few other bits, £12.
6pm: I tend to do a lot of the food shopping on my way back from work because our fridge is one of those tiny under-the-counter ones so we can’t do a weekly shop. The meal is delicious and makes enough for five portions so that’s lunches sorted for me and my boyfriend for a couple of days – result!
7.45pm: I do another pop to the nearby shop, this time to buy healthy(ish) snacks. I’m trying to give up crisps and sweets for a couple of weeks (I’m a total addict, no crisp multipack is safe around me) so I buy a few healthier snacks and begrudgingly eat them later. Annoyingly they’re less tasty as well as being more expensive than crisps and sweets, £10.
10pm: Sleep.
Total: £27
11am: I need to order more highlighter and mascara because I’m all out. I order some from Amazon (even though I feel guilty whenever I buy from there) because I’m feeling lazy, £12.59.
1pm: I’ve been trying to give up smoking when I’ve had alcohol (I have managed to cut it out otherwise) but have failed miserably by starting vaping on nights out. I’ve also now started vaping in the day so I go to the shop and buy another vape, which costs me £7.99.
3pm: I’m bored and need a new pair of jeans after mine ripped open at the crotch as I arrived at a rum tasting event (embarrassing) so I go on ASOS. An hour later, I’m £69 down and have sunglasses, denim shorts, blue jeans and some completely unnecessary festival clothes ordered and on the way to me. I tell myself I’ll send most of it back but who knows. I’ll probably sit on the returns for too long.
6.30pm: I have a free meal out with a friend tonight but it’s raining a lot right now and the walk there is 35 minutes each way so I order an Uber for the way there and the way back, £17.40. Most of my money goes on taxis or takeaways.
7.30pm: While we’re at the meal we each buy a round of cocktails. I get us a round of pineapple margaritas, which are delicious, £20.
Total: £126.98
8am: Arrive at work.
12pm: I’m in the office four days a week and it’s conveniently located near the harbour. There’s loads of yummy food places and street food markets around and on Thursdays people often buy their food from there so I head there with them. I try to make my own lunches throughout the week but I sometimes treat myself to Thursday lunches out. I buy my favourite thing at the street food market, a chimichurri and steak pitta, £9.50.
5pm: Head home.
6.30pm: My boyfriend sees that there’s a National Theatre play that he really wanted to see being livestreamed in the cinema so we head to watch it. We make our own popcorn and bring it in a Tupperware box (weirdly, we were given some popcorn as a Christmas present) and the cinema’s only a 15 minute walk away so all we have to spend on is the cinema ticket. They’re more expensive than usual because it’s a play. I wince a bit as I fork over the £20 for my ticket but the money feels worth it after seeing an amazing play.
10pm: Sleep.
Total: £29.50
9am: Start my work day from home.
11.30am: I always work from home on Fridays so I make myself lunch so there’s no risk of spending money out. I’ve got leftover spaghetti bolognese so I cook that up and have a smoothie I found knocking about in the fridge that I forgot about.
2pm: I walk to the shop and buy a can of Coke Zero for an afternoon pick-me-up, £0.80.
7.30pm: We’ve been invited to try a new Japanese restaurant and post about it on social media. I definitely save a lot of money having these free meals because we would otherwise get a takeaway. We go and share loads of yummy Japanese tapas dishes, each have a fried chicken ramen and try some of their new cocktails. We always leave a tip with a free meal and this time it was a massive meal and lots of drinks and really lovely service so we leave £20.
9pm: We’ve eaten too much and it’s a 30 minute walk so we roll home in an Uber instead of walking, £8.50.
11pm: Sleep.
Total: £29.30
9.30am: We have a quick brunch at home. I grab the stuff from the shop and treat myself to a takeaway iced latte while I’m out (they’re whipped with avocado to make them creamy and they just hit differently so I get it as a reward for not buying breakfast on Deliveroo), £7.40. We’ve slipped into a bit of a guilty habit of going out for brunch most weekends or getting it delivered when we’re hungover but we have no excuse this morning. It feels satisfying making it ourselves, knowing that we’re saving money (although not when we’re doing the washing up).
11am: We’re meeting friends to look round the local street art festival this weekend. Normally we’d go out but we’ve been overdoing it and overspending recently so we try to have a quiet chilled weekend instead. A lot of our friends have gone to Cornwall for a party but we decided against it with the cost of the hotel, transport, booze and inevitable takeaway and snacks the next day. It feels a shame to miss it but we make fun, much cheaper plans instead.
12pm: I buy a £5 iced coffee which is really crap and then regret it when I feel like I can’t spend more money on food from the street food market. I watch my friends begrudgingly as they eat their yummy food.
1pm: The art festival is completely free entry, which is great. I buy a few seltzers for me and my boyfriend to have in the park with friends, £12.
6pm: We’ve been invited for a free meal at a Caribbean kitchen at a local pub so we head there for some amazing jerk chicken. It’s only a 10 minute walk away so no taxis needed (moving more central has been a lifesaver for my Uber bills and it’s amazing for the bank balance that you can walk most places in Bristol). We leave a tip and buy a couple of rounds of ciders between the two of us, £25.
11pm: Sleep.
Total: £49.40
11am: The weather is cold but super sunny so we have a BBQ at my boyfriend’s parents’ house nearby. We don’t have a garden, living in a flat in the centre of Bristol, plus they have puppies so it’s nice to chill out there.
12pm: We’ve had a box of meat sent to us from a nice local butchery so we cook using that. We also do a quick shop at Saino’s where I buy some picky bits to make the meal, some snacks and an amazing aioli. While we’re there I also buy some food to make dinner this evening (and leftovers for lunch) for us both, £18.
2pm: We’ve been talking about repotting our plants (yawn) for ages and finally have time to go buy soil and pots and some cleaning stuff to sort out our flat at Wilko. We bought loads of plants when we moved in but couldn’t afford nice pots for them at the time so it’s good to finally get some. Who knew plants were so expensive? Also, why am I so happy to spend money on food and booze but not on actual practical stuff? It’s the paradox of life. The total Wilko shop comes to £14.
8pm: We would normally give in and get a takeaway by now but we’re still pretty full from lunch and the £18 I spent in Sainsbury’s for just a couple of meals is weighing over me. Instead we make a quick picky tea from the leftovers of our lunch and then send ourselves into a food coma. At least it’s a free one.
11pm: Sleep.
Total: £32
Food & Drink: £159.70
Entertainment: £20
Clothes & Beauty: £106.59
Home & Health: £14
Travel: £25.90
Other: £7.99
Total: £334.18
Conclusion
“It was really interesting tracking my money and seeing where it all goes. I had figured it mostly goes on food or transportation but I can really see that it does here. I think it would’ve been harder to track my spending on a busy weekend where we went properly out because I would’ve had to deal with the hangxiety of going through every transaction the next morning. I definitely feel lucky I live in Bristol because my transport costs would be up even more but seeing the amount of money I spent on taxis just nipping about a bit, I do feel like I should switch to getting trains and saving myself those extra pounds, even if it does mean some walks in the rain. It also really reminded me that I need to go to larger shopping stores because the small ones really are rip-offs. I’ll definitely think more about spending so much on taxis and popping into my local small supermarket so often.”
Like what you see? How about some more R29 goodness, right here?
Money Diary: An English Teacher In Scotland On 37k