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Welcome to Money Diaries, where we're tackling what might be the last taboo facing modern working women: money. We're asking a cross-section of women how they spend their hard-earned money during a seven-day period – and we're tracking every last penny.
This week: "After finishing uni, I became a marine biologist and lived in London with my girlfriend until about 18 months ago. We've now moved back to Wales, where I am from, as I took ownership of my auntie's chain of hair and beauty salons. My girlfriend has always worked in business so together we have launched more salons which are all surprisingly successful right now. We have been together for eight years and own four properties together, including the home we currently live in. We are getting married next year and are talking about having a baby a few years after that."
Industry: Hair and beauty
Age: 28
Location: South Wales
Salary: £400,000
Age: 28
Location: South Wales
Salary: £400,000
Girlfriend's salary: £200,000
Paycheque amount: £26,100 (combined)
Number of housemates: One girlfriend, two cats, three dogs
Paycheque amount: £26,100 (combined)
Number of housemates: One girlfriend, two cats, three dogs
Monthly Expenses
Housing costs: £6,000 mortgage on the house we live in, plus we are still locked into a fixed-term mortgage for a house that we rent out in London, which currently costs us £2,000 a month. The rent doesn't quite cover the cost of the mortgage and the property management once it is taxed so this is about £200 a month. We also have another couple of properties that we rent out but we own these outright.
Loan payments: Two 0% APR loans that are coming to an end – £39 a month and £200 a month to DFS for two settees. Student loans are paid off.
Utilities: Tenants of two of the rental properties pay their own bills, the house in London is currently occupied by a woman who has just left an abusive relationship so we are currently paying her bills for her while she gets back on her feet; these come to about £300 for water, gas, electricity and council tax. Our own bills are roughly £200 council tax, £60 water, £80 gas and electricity, £25 internet.
Savings: We don't really designate any money to savings per se, we naturally end up saving a lot as we aren't majorly frivolous on day-to-day activities (we don't really go for expensive meals, etc). On average, we probably end the month with around £10,000 left over which we put aside for things like holidays, wedding, future kids and retirement, but sometimes it is much more than this and sometimes much less.
Transportation: Insurance, petrol and tax on three cars – around £1,000 a month.
Phone bill: £50 for mine and £45 for girlfriend's.
Other: £250 to AfriKids, £100 to a cystic fibrosis charity, £100 to Great Ormond Street, £30 to WWF (we have adopted an animal for each of our nieces and nephews, which is £10 a month each), £4.50 to a monthly lottery run by Battersea Dogs and Cats Home, £1,000 a month for our goddaughter's private school, £15 Spotify, £30 Now TV, £7.99 Amazon Prime, £9.99 Netflix.
Loan payments: Two 0% APR loans that are coming to an end – £39 a month and £200 a month to DFS for two settees. Student loans are paid off.
Utilities: Tenants of two of the rental properties pay their own bills, the house in London is currently occupied by a woman who has just left an abusive relationship so we are currently paying her bills for her while she gets back on her feet; these come to about £300 for water, gas, electricity and council tax. Our own bills are roughly £200 council tax, £60 water, £80 gas and electricity, £25 internet.
Savings: We don't really designate any money to savings per se, we naturally end up saving a lot as we aren't majorly frivolous on day-to-day activities (we don't really go for expensive meals, etc). On average, we probably end the month with around £10,000 left over which we put aside for things like holidays, wedding, future kids and retirement, but sometimes it is much more than this and sometimes much less.
Transportation: Insurance, petrol and tax on three cars – around £1,000 a month.
Phone bill: £50 for mine and £45 for girlfriend's.
Other: £250 to AfriKids, £100 to a cystic fibrosis charity, £100 to Great Ormond Street, £30 to WWF (we have adopted an animal for each of our nieces and nephews, which is £10 a month each), £4.50 to a monthly lottery run by Battersea Dogs and Cats Home, £1,000 a month for our goddaughter's private school, £15 Spotify, £30 Now TV, £7.99 Amazon Prime, £9.99 Netflix.
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