This week: “I’m a 31-year-old accountant based in London. I’m originally from Australia but moved to London in 2019 to use the city as a base to travel around Europe. I was fortunate enough to do a bit of travel before COVID hit but I definitely need to explore more. I currently rent with my boyfriend but we are looking to purchase our first home here so I’m trying to kick my savings for a house into overdrive and see where I’m unnecessarily spending. I’m always telling my friends that I don’t know where my money goes every month as I don’t tend to splurge on clothes or events. I have an idea it might be going for food and eating out…”
Occupation: Accountant
Industry: Finance
Age: 31
Location: London
Salary: £67,500 a year plus 10% annual bonus.
Paycheque amount: £4,013.30 monthly after tax and NI.
Number of housemates: One: my boyfriend, F.
Pronouns: She/her
Monthly Expenses
Housing costs: My share of the rent is £725.
Loan payments: None.
Savings? As F and I are looking to purchase our first home, all my savings up until this point have been moved to my house deposit fund (roughly £50,000). We have another £6,000 in our joint account for future home repairs and expenses.
Pension? As I’m from Australia and plan to move back before retirement, I have opted out of the pension scheme here in the UK.
Utilities: My share comes to £85.50 council tax, £70 gas and electricity, £12 internet, £18 water.
All other monthly payments: £10 phone, £55 gym.
Did you participate in any form of higher education? If yes, how did you pay for it?
I went to university in Australia where we can get HECS-HELP loans to help pay for our studies. Repayments are taken from our salary once we earn a certain amount.
Growing up, what kind of conversations did you have about money?
We were financially comfortable. My mum was a stay-at-home mum and my dad worked two jobs to provide for the family of five. When my sisters and I were young, my dad opened bank accounts for us and we would put our birthday and Christmas money into our accounts to save for the future and learn about money.
If you have, when did you move out of your parents’/guardians’ house?
I moved out when I moved to London in 2019.
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 got my first part-time job at a bakery during the first year of university. When I lived with my parents before moving to London, I didn’t have to pay rent. It was never a spoken thing about paying them when living at home.
What was your first job and why did you get it?
It was at a bakery when I was 19 so that I could have spending money and to fund a six-week Europe trip once I graduated.
Do you worry about money now?
I don’t worry about money day to day as I do understand that I am fortunate to be making the money that I am. However, with all the research I have come across while looking to purchase our first home and the associated costs, it is scary thinking about paying off a mortgage and fitting children into the picture in the next few years.
Do you or have you ever received passive or inherited income?
No.
9am: Finally had a great night’s sleep! My work day starts at 9.30am, which means I can lie in bed until 9am when I’m working from home.
9.15am: Before I log on I make breakfast for my boyfriend, F, and me of oats with bananas, apple, honey and cinnamon. F makes us coffee and shows me how to use the milk frother he just bought off Amazon. The novelty hasn’t worn off yet.
9.30am: Log on and check my calendar for today. No meetings, which is a godsend and means I can prepare for month end without any distractions.
1pm: Take a break and make a salad for lunch to eat with leftover fried rice and honey garlic pork chops, which we had for dinner last night. We tend to cook for four every night so that we have leftovers for lunch the next day.
1.30pm: F and I watch How to Get Rich on Netflix while we have lunch. It is interesting to watch the different approaches people have with money and how they think about money. Since we started looking at properties, we have really got into understanding where we spend our money and how we can make it work more for us.
2pm: Continue with work while obtaining quotes from solicitors/conveyancers for our house-hunting.
6pm: The weather has taken a turn for the worse and it looks like the heavens will open. Rather than go for a walk I opt to go to the gym (which I have neglected for a week). I decide to ease back into it by doing a 5km run on the treadmill, some goblet squats and kettlebell swings.
7pm: Pick up some groceries on the way home from the gym for dinner and tomorrow’s lunch (tacos!). I also get milk, bananas and blueberries as we have run out for breakfast. My share comes to £9.
7.30pm: It’s F’s turn to make dinner tonight so I hop into the shower after a sweaty session at the gym. F makes his delicious caldo verde soup. We have it with bread on the side to mop up the deliciousness.
8pm: F and I binge the rest of How To Get Rich. I have a habit of talking and asking questions during TV shows and movies so I add in my commentary while watching. We share a small pack of Maltesers that I got last weekend.
9.30pm: Since F cooked, I do the dishes.
9.45pm: Cuddle on the couch with F and scroll social media for a bit.
10.15pm: F takes out his guitar (which he hasn’t touched in over a year) and plays a few tunes. We do a few duets and feel for the poor neighbours. F makes a vow to get back into playing the guitar.
11.15pm: I go on social media again and then sleep.
Total: £9
8am: F’s alarm goes off and wakes me up. I don’t need to get up for another hour so I lie in bed and eventually fall back to sleep.
9am: Wake up and make breakfast for F and me. Same as yesterday but with added blueberries. F joins me in the kitchen and makes us coffees.
10am: Team meeting where everyone informs the wider group what they have been working on during the week and their tasks for today.
12pm: F discusses something we could potentially do for our third anniversary. We take a quick break from work and look up the event and read the reviews. It looks like fun so we go ahead and book tickets. F pays and says it is his gift to me for our anniversary since I bought us Premier League tickets for my anniversary gift to him.
1pm: F and I make tacos for lunch and each have six. We are in a food coma while we watch a bit of Community on Netflix.
1.30pm: We take a quick 20-minute power nap before heading back to work. This week has been so demanding at work and I feel exhausted.
2pm: Smash out a few more work tasks and get a little irritated as the work systems are playing up. I also hate receiving emails with action points so late on a Friday…
5pm: I am done for the work week! As the sun is shining outside, F and I decide to go for a nice walk. We stop at Aldi on the way home and pick up a few bits for dinner. My share comes to £7.96.
7.30pm: My turn to cook tonight. I came across a nice cheesy penne recipe so I decide to make that. As I love my meat, I add in some chorizo.
8pm: I make too much so F gets leftovers for lunch tomorrow (I am out all day catching up with friends).
8pm: We decide to pop on a movie to wind down and end up watching Operation Fortune. I thought I’d enjoy it more than I actually do.
10.30pm: Off to bed!
Total: £7.96
9am: Since I’ve only been to the gym once this week, I decide to get up and do upper body.
10.30am: Hurry back from the gym, jump in the shower and get ready to go into the city. I blow-dry my hair and pop a bit of makeup on to try and look a little presentable.
12pm: Meet my friend B in the queue for dim sum in Chinatown. It feels like no time has passed, even though it has been about five years since we last saw one another. We catch up on life and what has happened in the last few years and what he’s been doing in London since he arrived earlier in the week. We share 10 dishes between the two of us. We definitely over-ordered but no regrets. Usually I would offer to pay for lunch seeing as he’s here on his holidays but I NEED TO SAVE FOR A HOUSE. My share comes to £37.05.
2pm: Since B has done a lot of the touristy attractions like St Paul’s Cathedral, Big Ben, Westminster Abbey and Buckingham Palace, we decide to go to the National Gallery.
4pm: After a few hours of observing art and feeling a bit more cultured, we find a nice café for a drink and to rest our feet. I get a passionfruit lemonade and am sad to learn there is no passionfruit pulp — the reason why I chose this drink, £8.95.
5.30pm: B has a date so I go back into the city and window-shop for a bit before my dinner with the girls.
6.30pm: Have a much-needed catch-up with my friends A and V. V has recently resigned from her job and needed to hear that resigning was the correct decision. She’s been with the company for seven years with no real career progression and wasn’t being recognised for the effort she was putting in so it was a no-brainer.
7pm: Share starters of crispy pork belly, popcorn chicken and gyozas. Our mains are a Thai curry noodle with a side of roti and a pad krapow gai stir-fry. My share with drinks comes to £75.19.
9pm: We’ve all had a long and tough week at work so we’ve knocked back a fair amount of cocktails during dinner. Our waitress comments that we should come back for their bottomless brunch as we’d “all be good at it”. Not sure if we should take that as a compliment, ha.
10.45pm: A and V want to call it a night so I go to meet F who is out with two friends, P and S. I head over to P’s house where they are chilling.
12am: Chill at P’s for an hour or so then we all go out to a mixer in Camden. P buys a round of drinks. At this point, I am not feeling too good so I stay for an hour or so then we decide to go get a kebab and call it a night. I have a few bites of F’s kebab as I’m still so full from dinner. TfL charges for today, £7.25.
2am: Bedtime!
Total: £128.44
9.30am: Wake up to my alarm. I could really do with another few hours of sleep but we have a house viewing today. Jump in the shower and then make breakfast.
12pm: Make it to the house viewing a few minutes late. The journey on the Tube this morning was so long and horrendous. The house is nice but smaller than it looked in the photos online. I think F likes it too so we will discuss a little more and then put in an offer tomorrow morning with the agent.
1pm: F has football so we have another stressful Tube journey to get back to the recreation centre near our house, £4.85. I decide to do laps of the running track while F is at football. P is supposed to join me for a run but I haven’t heard from him so assume he had a big night after we left him last night.
2pm: F and I walk home in the rain. We have leftover pasta from Friday night and make some dumplings on the side. We then flick through Netflix to see what new show we can binge next. I realise there is a third season of Indian Matchmaking, which was filmed in London. Best. News. Ever! F wouldn’t usually watch these shows with me but I think he secretly enjoys it.
4.30pm: Walk to the cinema to meet P. S is supposed to come too but they had a big night last night so they’ve decided to bail. F and I get a large popcorn and a drink to share, £6 for my share. As I had a big day yesterday and little sleep this morning, I fall asleep twice during the movie.
7pm: P wants chicken wings on the way back to ours. Since he bought us drinks last night, we pay for the wings, £4.99 each.
8pm: Get home and have some chicken wings before making a start on dinner. One of my favourites: chicken, bacon, mushroom risotto.
9pm: Have a late dinner with Baywatch on in the background.
10pm: I have a nice relaxing bath while F and P play video games on the PS5.
10.30pm: Scroll social media for a bit and see what everyone is up to.
11.30pm: Time for bed before month end tomorrow!
Total: £15.84
8am: Had an amazing night’s sleep, which is rare for me. I get up and reply to a few messages before logging on for work. I also call the estate agent to clarify a few things about the property we saw yesterday.
10am: Team meeting with the wider finance team. The pressure is on for everyone as it is month end this week.
11am: F has a day off today so he suggests a homemade big breakfast/brunch. I skip out to get bread rolls, 85p for two. When I get home, F has cooked everything. Our big breakfast is made up of hash browns, baked beans, wilted spinach and egg and bacon rolls. I demolish my breakfast, which makes a nice change from oats.
3.30pm: After a few hours of working, I decide to take a quick 15-minute break. I cuddle up to F on the couch and we look on Rightmove and Zoopla for any new properties from the last couple of days. It seems like the market is slowing as there haven’t been any new properties in the areas we like and in our budget for the last few weeks. We have a viewing this Saturday though, so I’m holding on to some hope.
6pm: Time to log off work. I spend the next hour looking up properties with F. We see one we really like but after ringing the agent we find out that an offer was accepted last week. Bummer! It was a newly renovated, three-bedroom place including loft. F and I discuss the property we viewed yesterday and write up an offer and send it to the agent. Fingers crossed!
8pm: F and I planned on going on a grocery run after work but as it hasn’t stopped raining, we opt to cook with what we already have in the fridge and pantry. F makes his yummy canja de galinha (chicken soup). We have everything we need except carrots so we go without. Score for not having to go to the shops and spend more money today.
8.30pm: We binge more Indian Matchmaking and F admits it is pretty good.
10.30pm: Jump into the shower and then head to bed.
Total: £0.85
7.30am: It’s an office day today, which means waking up earlier than usual. I’ve also been paid! Move my paycheque into my savings pots and get ready for work.
8am: Tube to work, £6.80 return.
8.30am: Have a quick breakfast of the usual oats with banana, apples, blueberries, honey and cinnamon. F makes us coffee. What I wouldn’t give to have another bacon and egg sandwich, mmmm…
9.30am: Arrive at work and it seems like the agent has tried to call me when I was on the Tube. I call back but it’s just him confirming he will present our offer to the seller today.
11am: Smash through my month-end tasks for today. I’ve been doing the same tasks for a few years now so it feels like I’m on autopilot during month end.
1.30pm: Have my leftover soup from last night at my desk and then go for a one-hour walk to clear my head.
2pm: It seems like there are no issues this month (unlike last month) so I breeze through my month-end deliverables, every so often checking my phone for missed calls from the agent. No missed calls…
6pm: Leave the office and meet F at the Tube station to do a grocery shop on our way home.
6.30pm: Zip around the shops and pick up ingredients for the next few meals (paella, spaghetti bolognese and bangers and mash), muesli, honey, makeup wipes, toothpaste and some choc hazelnut croissants as a treat. My share comes to £15.99.
7.30pm: Get home and cook paella.
8.30pm: We sit down for dinner and watch the rest of Indian Matchmaking.
9.30pm: I wind down by scrolling social media while F plays on the PS5.
10.15pm: Pack paella for our lunches tomorrow. F does the dishes while I shower before bed.
11pm: Bedtime ahead of another office day tomorrow.
Total: £22.79
7.30am: Wednesday is the finance day in the office so I head in even earlier to get a good desk (the office works on a hot desk basis).
8.30am: Make myself the usual breakfast. F has his chocolate croissant for breakfast. Slightly envious. I make the coffee this morning and it’s nowhere near as good as when F makes it.
9.30am: Get off the Tube, £6.80 return. I have another missed call and call back the agent to learn that the owner still has to discuss our offer with his wife and we should have an answer by end of play today.
10am: Weekly finance face-to-face meeting. Everyone seems to be on track with month end.
1pm: Have my paella at my desk while continuing with month-end deliverables.
1.30pm: Go for a walk with my colleague H. We do this every Wednesday when we’re in the office together.
4.30pm: Contemplate getting a sandwich for second lunch. My workmate advises me otherwise. I listen to their advice and hold off.
5.30pm: The agent calls…our offer is accepted! Message F and he’s over the moon. Message our mortgage broker to tell them the news as well.
6pm: Finish a piece of work I am reviewing for the junior and pack up and make my way home.
6.30pm: F has football so I make a start on dinner (bangers and mash) so we can eat when he gets back. I’m really regretting not getting that sandwich now.
8pm: F is back and we discuss the good news over dinner. We try not to get too excited as we know it’s early days and anything can happen between now and completion.
9pm: Still in the saving money mindset so watch Get Smart With Money on Netflix.
10.30pm: F does the dishes while I get ready for bed.
11pm: Lights out!
Total: £6.80
Food & Drink: £165.98
Clothes & Beauty: £0
Home & Health: £0
Entertainment: £0
Travel: £25.70
Other: £0
Total: £191.68
Conclusion
“All in all it was a good week, although definitely more expensive as I had my girls’ catch-up. We usually meet up at least once a month and go for a nice dinner and a few drinks, which can sometimes set me back £100+. As I expected, most of my spending is on food. I think I have to be more conscious of eating out, especially now with a mortgage. When we move into the new place, we can have our friends over more often rather than eating out so hopefully that will help me save a bit more.”
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