This week: “I am a 36-year-old single woman living in London, having moved to the UK almost 15 years ago. I currently work as a PA and I love the team I work with. I live on my own and recently moved into a flat that I found through the London Living Rent scheme, which has been such a blessing. I think I have a healthy relationship with money. I am definitely a saver but the one thing I like to spend money on is travelling. I try to travel as much as possible and because my family is based in the EU, I travel home a couple of times a year too. I don’t spend a lot on going out or shopping (I try to buy clothes secondhand whenever possible and I stopped drinking a while ago — the hangovers were just too much) and I’d rather spend on experiences (yoga, Pilates or activities with friends). I track my earnings and expenses on a spreadsheet; I have been doing it for years and it’s helped me so much with growing my savings and budgeting for holidays etc. I am very grateful for the life I have. Growing up in a small village in a foreign country, I never thought I’d be living on my own in London so I try to enjoy it as much as I can.”
Occupation: Personal assistant
Industry: Healthcare
Age: 36
Location: London
Salary: £40,000
Paycheque amount: It varies from month to month depending on how much overtime I do but on average it’s between £2,800 and £2,900.
Number of housemates: None. I have been living on my own for a few years now.
Pronouns: She/her
Monthly Expenses
Housing costs: I pay £1,100 for a one-bedroom apartment, which I found through the London Living Rent scheme. I applied ages ago and after being on the waiting list for a while, I moved into my flat over a year ago. I was quite dubious of the scheme while applying (it sounded too good to be true) but I have had no issues whatsoever.
Savings? I have £11,000 in a high interest savings account, which I consider an emergency fund; £5,200 in a stocks & shares LISA; £2,500 in a separate investment account; £1,700 in a holiday fund; and £5,800 in a separate savings account (I am going to transfer this and split it between the S&S LISA and HYSA). I set up standing orders for all these accounts so that the money goes straight into them the day after payday. Whatever is left in my account at the end of the month I transfer either into savings or investing.
Pension? Yes, I have a pension and I recently combined two separate pots I had. I pay 5% of my salary and my employer contributes 4%.
Utilities: £80 council tax, £40 electricity, £60 heating, £28 internet. The water bill comes every six months but it works out at around £23 per month.
All other monthly payments: £10 SIM only plan, £0.99 iCloud storage, £13 contents insurance, £10 charity donation. Subscriptions: £29 ClassPass.
Did you participate in any form of higher education? If yes, how did you pay for it? I grew up in an EU country and went to university there, where I got a bachelor’s degree. University fees were really affordable at that time (I don’t think I ever paid more than £1,000 per year including books etc.). I was living at home at the time and my parents paid for it while I had part-time jobs to pay for petrol, nights out etc. I also had partial scholarships to pay for the fees. I realise how privileged I am for having graduated without any debt and I am very grateful to my parents for allowing me to do that.
Growing up, what kind of conversations did you have about money?
I remember my parents having lots of arguments about money while I was growing up. I never went without but things were tight, especially when I was really young, as my parents were teenagers when I was born. My dad has worked really hard all his life and my mum has worked on and off due to some health struggles. We never went abroad but looking back I can see I always had what I needed. I was taught to save and invest from a young age and I am definitely more a saver than a spender. I’d rather spend my money on travelling than dining out or shopping.
If you have, when did you move out of your parents’/guardians’ house?
I moved out at 23, after finishing uni in my home country and moving to the UK. The plan was to stay for a year but it’s been 14 years since I moved. I don’t see myself leaving any time soon but I also can’t see myself living in London when I am in my 50s or 60s — but who knows?
At what age did you become financially responsible for yourself?
I became responsible for myself when I left home at 23 and no one covers any aspects of my financial life at the moment. I have worked really hard to build my emergency fund as I know I couldn’t rely on anyone else if I suddenly lost my job. My parents are still working and paying their own mortgage (they are very young!) so I wouldn’t want to impose on them and ask for help although I am sure they would help out a little if needed. I would love to one day own a flat in London but the costs are prohibitive on a one-person salary so for now I am happy with renting and building my savings.
What was your first job and why did you get it?
I worked in a cafe on the weekends while in high school for €4 per hour.
Do you worry about money now?
Yes and no. I don’t worry about day-to-day stuff but I do worry about the future. I plan on retiring in my home country or somewhere else where the cost of living is cheaper (including housing etc.) but I do worry about supporting my parents when they are older and how best to take care of them.
Do you or have you ever received passive or inherited income?
No.
7 a.m. — Alarm goes off. It’s my first day back to work today after being away last week visiting my brother, who lives abroad. I have my usual breakfast (overnight oats and coffee) and then get myself ready for work. I walk to work every day so I leave the house at 8.20 a.m. to start at 9 a.m.
9 a.m. — I catch up with my work BFF. I haven’t seen her in almost 10 days as she was on annual leave just before I was.
1 p.m. — The morning has flown by as I have been catching up on emails. I heat my lunch up and eat at my desk. I always bring lunch in as the food in the canteen is not great.
7:45 p.m. — Leave work and walk home. I usually finish at 5 p.m. but I stayed behind to finish up some work. There’s always so much to do after coming back from a break!
8:15 p.m. — Arrive home, shower and dinner. Tonight I have a veggie burger, broccoli and salad. Unload the dishwasher and cook some basmati rice to take for lunch tomorrow with some stir-fry veggies and tofu.
10 p.m. — Teeth and skincare routine. I usually read before bed but I have nothing to read at the moment. Make a mental note to go and collect some books from the local library over the weekend. Do some Duolingo instead.
10:30 p.m. — Lights out.
Total: £0
7 a.m. — Alarm goes off and I snooze it once (maybe twice). Eventually get out of bed and have the same breakfast as yesterday. I am a creature of habit and I don’t want to think about what to make for breakfast every morning so I love the fact I can prepare oats the night before and they’re ready when I wake up as I am starving most mornings.
8:30 a.m. — Walk to work in the rain. Where’s the summer?
12:30 p.m. — My meeting today has been cancelled (insert happy dance) so I can have lunch at a decent time. I rarely get to have a proper lunch break so it’s nice to actually enjoy my meal for once, without having to answer any emails.
5:30 p.m. — I leave work and stop by the shops on my way home to pick up some essentials, £15.50.
7 p.m. — Shower and then start prepping dinner. I make a sweet potato and roasted broccoli salad with cannellini beans and sundried tomatoes, with tahini dressing. I make extra to take to work tomorrow.
8 p.m. — Clean the kitchen and finish up some life admin. Put clean clothes away and get ready for bed with the usual routine of teeth, skincare and Duolingo. I like really quiet evenings during the week. I am often exhausted after spending all day talking to people so I really cherish my alone time.
10 p.m. — Lights out.
Total: £15.50
7 a.m. — Get out of bed and have breakfast of coffee and toast for a change! Get ready for work and head out of the door at 8.30 a.m.
1 p.m. — Eat my lunch before I head into a meeting. Send £8 to a colleague to buy a birthday present for another girl on our team. Trying not to fall asleep in said meeting, I grab a coffee and a piece of chocolate before it starts. It doesn’t really help — all I want to do is crawl under the desk and take a power nap. Go through my emails after the meeting and try to get as much as possible done before I leave.
5 p.m. — Leave work on time today as I am meeting my friend C for dinner. We meet halfway between her work and mine and go to a restaurant we both have been wanting to try. We get a table outside as it is not raining for once. C and I used to work together and I haven’t seen her in a few months. It’s nice to catch up and the food is delicious — we promise to meet up more often! £39 for my share, which I transfer to her immediately.
8:15 p.m. — Head home and shower as soon as I get in. Then teeth and skincare. Call my dad for a catch-up. I am going home in a few weeks so we make some plans for when I am there.
10 p.m. — Duolingo and then head to bed.
Total: £47
5 a.m. — Wake up feeling super nauseous. I know it’s because I am hungry so I have an early breakfast and then head back to bed. This always happens to me when I have a really early dinner like last night.
7:15 a.m. — Get out of bed and get ready to go to work. I feel much better now than I did two hours ago. Walk to work — the fresh air is much-needed after not feeling great this morning.
1 p.m. — Heat up my lunch and eat at my desk while finishing up emails. They just keep coming!
2 p.m. — Get a coffee from work (which tastes like poison) and then count the minutes down until 5 p.m. Thank god it’s Friday! We usually get a bit silly by this time at work so I have a few good laughs with my colleagues. I love the team I work with; we’ve grown really close since I started and they are honestly the main reason I am still in this role.
5 p.m. — Leave work on the dot. It’s raining so I head straight home. Have a chilled evening, eat leftovers for dinner and do some research on some flights I need to book but don’t buy them just yet. I am going to Rome soonish with my friend E so I text them with some things we plan to do while we are there (mostly eating). I can’t wait as I haven’t seen E in years. It will be so good to catch up!
11 p.m. — Sleep.
Total: £0
8:20 a.m. — Wake up, look outside and it’s so miserable. It’s raining and it looks more like an autumn day than a Saturday in the summer.
9 a.m. — I have breakfast and catch up on texts with my brother. He lives on an island and I am so jealous! I just got back from visiting him but I am already planning my next trip there.
11 a.m. — Walk to the library to return some books. I also pay £1 to collect a book I reserved a while ago, which is finally available. I love supporting libraries and I try to get all my books from here. Walk back home in the rain and stop by Tesco to pick up some snacks for work and other bits and bobs, £7. I need to do a bigger shop. I might go to Sainsbury’s later if the rain stops…
12:30 p.m. — Have lunch at home and place an order online for shampoo and a hair mask. I always buy them online as I use a salon brand and get huge bottles that last me ages. I buy one for my mum as well; I will take it with me next time I go back and visit, £46.
4 p.m. — Head to my friend A’s house to catch up and stay for a few hours. She’s only a 20-minute walk away. On my way back I pop into Sainsbury’s to do a bigger shop, £26.
8 p.m. — Load the washing machine and clean the kitchen. I am not very hungry for dinner so I have ice cream…I love being an adult.
9 p.m. — Shower, teeth and skincare routine, then I curl up in bed with one of my new books. A wild Saturday night!
Total: £80
6:45 a.m. — Alarm goes off as I am working today. I need to be in earlier when I work weekends so I leave the house at 7.40 a.m. I will have a coffee when I get there.
11 a.m. — Work is busy today but it’s quieter than weekdays so it gives me a chance to catch up with some colleagues I usually don’t see.
1 p.m. — Finish work for the day and stop by M&S on my way home to get some bits to bring to work tomorrow to share with workmates, £7. I resist the temptation to buy a new houseplant…for now. Very proud of myself (but I will almost certainly go back at some point to buy it).
2 p.m. — I bid on a bag on eBay and win. It’s practically new and I get it for £14 though it retails for £35 — bargain! I love a bit of eBay/Vinted shopping.
3 p.m. — I spend the afternoon at home. I clean the bathroom and then get started on cooking for the week. I cook a bunch of vegetables I have in the fridge and then make a massive salad for dinner. I get an email saying my favourite vegan cheese company is discontinuing some of its products so I place an order online, £24 (I will freeze some of them so they’ll last me a long time).
6 p.m. — Shower and wash my hair.
7 p.m. — I eat the salad I made earlier while texting Mum. Load the dishwasher, clean the kitchen, take the garbage out etc. I like to be as prepared as possible for the week ahead so I prepare some snacks to bring into work and I make sure the house is clean and tidy.
10 p.m. — Bedtime!
Total: £45
7 a.m. — Monday morning! Some mornings I really struggle to get out of bed and today it is one of those days. I snooze my alarm twice. Once I manage to get out of bed, I am back to my usual routine and out the door by 8.30 a.m.
1 p.m. — Monday mornings are usually our busiest time and I don’t even realise when it’s lunchtime. I heat up my packed lunch and eat at my desk and catch up with colleagues.
5 p.m. — Leave work and head to Waitrose to pick up a parcel. I ordered some new bookends (what a thrilling purchase), which I paid for with a gift voucher. I get drenched in the rain, again. I am so bored of this weather but I have high hopes that it is about to change. Fingers crossed! Head back home after collecting the parcel. It’s a 40-minute walk back but I need to move after spending all day sitting down. I tend to walk everywhere if I can, it’s my way of switching off from work and it just clears my head.
6 p.m. — Have a shower and then get started on dinner. I am making a lentil bolognese so I can take some to work. While it’s cooking I tidy up my bedroom and vacuum.
7:30 p.m. — Eat dinner and watch a couple of travelling vlogs on YouTube for some inspiration on future trips. South Korea looks fun so I add it to my list.
8 p.m. — Clean the kitchen, then skincare and teeth.
9:30 p.m. — I am shattered so I head to bed, do some Duolingo then turn off the lights.
Total: £0
Food & Drink: £118.50
Clothes & Beauty: £60
Travel: £0
Entertainment: £1
Home & Health: £0
Other: £8
Total: £187.50
Conclusion
“I think this is an average week for me, except the money spent on the bag and haircare products, which I wouldn’t usually buy weekly. I have a couple of trips coming up later in the year so I am trying to be conscious of what I spend and watch my budget a little bit more than usual so I have
more to spend when I go away. I will keep trying to grow both my holiday fund and emergency saving while learning more about investing and feeling more confident doing it. I think I have reached a good balance of spending and saving but I am always looking for more ways to improve.”
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