Money Diary Charity Press Officer On 36k

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: "I’m a 32-year-old, single press officer living and working in London. I’ve lived in a lovely house for two and a half years with two housemates and my cat, who joined us halfway through the pandemic. Before this I was working in London but commuting in from my parents’ house. I moved to the city after a promotion at work meant I could finally afford to comfortably pay London rent.

It’s really important to me to make the most of my free time and being young and single in the city (30s is still young, right?). But of course this costs money. I tend to spend most of my cash on dinners out, activities with friends and trips away. I do try to save a bit each month as well. I’d like to be able to afford my own property in the next five years but I’m conscious that this will be very difficult, if not impossible, as a single first-time buyer. For now, my priority is to enjoy this phase of my life while putting some savings aside for the future, whether that's for a house deposit or simply my next holiday!"

Occupation: Press officer
Industry: Charity sector
Age: 32
Location: London
Salary: £36,000
Paycheque amount: £2,155
Pronouns: She/her
Number of housemates: Two, plus a cat

Monthly Expenses

Housing costs: £610 for my share of the rent.
Savings? I have about £13,000 in an ISA. (I built this up to about £19k by spending less in general throughout the pandemic but then splurged on three holidays in three months at the end of 2021, which severely depleted it. No regrets though.) I also have about £550 in a Nutmeg investment account. I don't own any property.
Loan payments: £110 student loans.
Pension: I pay about £240 into my pension every month.
Utilities: Council tax £43, internet £9.99, gas and electric varies but is usually around £35 a month for my share.
All other monthly payments: Phone bill £31, vet plan £13, pet insurance £16. Subscriptions: Spotify 9.99, charity donation £24, magazine subscription £12.

Did you participate in any form of higher education? If yes, how did you pay for it?

I took out a loan to pay for university which I'm still paying back now. This was before the fees increased. I have no idea how much I've paid off. I've been paying it off for so long now that I usually forget it's there.

Growing up, what kind of conversations did you have about money?

My parents impressed the importance of saving on me from a young age. I remember going along to the (now defunct) Woolwich Building Society with my mum as a kid to open my first savings account and getting a little blue savings book. I've been lucky in that my family have always been comfortable financially but we aren't big spenders or flashy. My mum still buys most of her clothes from charity shops!

What was your first job and why did you get it?

I started working at 16 as a waitress in a restaurant in my hometown. Even though my parents supported me financially as a teenager and I wasn't particularly in need of extra cash, I've always had a strong desire to earn my own money and pay my way. The job was great for socialising, too – and the tips were amazing.

Did you worry about money growing up?

I didn't worry about money growing up as I was lucky to have parents who, as far as I know, were comfortable financially. They also never discussed money worries with me and my siblings growing up.

Do you worry about money now?

I don't worry about money day to day but as a long-term single person I am conscious that buying a property in the area that I would like to (London/the southeast) in the next five years is pretty unattainable for me. Many of my partnered friends who work in the private sector now own their own homes (and not small homes either) and it can be difficult not to compare our circumstances when we're together. I try to keep in mind that I'm renting a really lovely house (bigger than anything I could afford to buy), I get to live with two friends and we have a south-facing garden in London, which is amazing in the summer.

At what age did you become financially responsible for yourself and do you have a financial safety net?

I became financially responsible for myself when I moved out at 22. I had a career change in my mid 20s and moved back with my parents during that time. I was doing unpaid internships to break into a new industry, working part-time in a pub and teaching piano on the weekends to fund my career change. I paid my parents a small amount of rent during this time (about £125 a month) and they covered the bills.

Do you or have you ever received passive or inherited income?

No. My parents have saved about £20,000 to help me with my first home deposit but I don't currently have access to these funds (they're not in an account that I can dip into, which is probably for the best). I know I am incredibly lucky to be in this position but even with this help, buying my first home in the area I would like, on my income alone, is currently out of reach for me.