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Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people 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 ethical finance strategist living in Bristol. I moved here with my long-term partner, T, in 2024 after spending a year and a half living in Vancouver, Canada (on a working holiday visa) and travelling some of South America. We thought this trip would drain some of our savings as we did not have jobs lined up when we moved, but we actually managed to save well because of the work we managed to get in Canada. Prior to that, I spent 10 years living in London studying/working in government consulting, with a seven month break to travel and live in Australia. T and I have recently put an offer in on a three-bed £450k flat. We love Bristol and would like to settle here, though we expect our mortgage payments to be similar to the rent we are paying now. T works in Mergers and Acquisitions and earns more than me, usually around £100k including bonus, which is important to point out as we share most of our costs. However, he is looking to move jobs this year and is prepared to take a pay cut for the right role."
Occupation: Corporate strategist
Industry: Ethical Finance (yes, I promise that is a thing!)
Age: 32
Location: Bristol
Salary: £82,000
Paycheque Amount: £3,950 (this is after student loans, pension contributions and holiday sacrifice, see below).
Number of housemates: One, my boyfriend T.
Pronouns: She/her
Industry: Ethical Finance (yes, I promise that is a thing!)
Age: 32
Location: Bristol
Salary: £82,000
Paycheque Amount: £3,950 (this is after student loans, pension contributions and holiday sacrifice, see below).
Number of housemates: One, my boyfriend T.
Pronouns: She/her
Monthly Expenses
Housing costs: £2,100 for a two-bed rental in Bristol, split equally with T. Our mortgage payments will be fairly similar when we (hopefully) move to our new flat, around £2,000.
Loan payments: £688 student and postgraduate loan automatically taken from my salary each month. The paycheque amount above is after this deduction. I'm just under two years away from paying off my postgraduate loan and I cannot WAIT!
Savings?: Currently, I have £85k spread across different accounts, with around £27k in a Lifetime ISA, £4k in a Stocks an Shares ISA, £22k in a Cash ISA and £32k in a Simple Saver (allowing one withdrawal a month). My partner has around £97k saved, we do see this as a joint pool of savings even though we manage them separately. We will soon use £90k of our total savings towards our 20% flat deposit. I try to save £1.5k a month unless there are big spends like holidays, car insurance etc.
Pension? Yes, I have £43k spread across various pots. I currently contribute 2% (around £136 a month) and my employer contributes 8% (the employer contribution will increase to 10% in June once I have been at the company for a year).
Utilities: My half is £100 electric, £119 council tax, £15 internet. Water is included in our rent.
All other monthly payments: £5 WaterAid, £10 Greenpeace, £6 SMARTY SIM-only plan, £29 ClassPass. Subscriptions: £6 Amazon Prime, £15 Spotify (last two split with T). It’s also worth mentioning that I sacrifice around £150 from my paycheque each month to buy 5x extra holidays each year. For me this is completely worth it!
Loan payments: £688 student and postgraduate loan automatically taken from my salary each month. The paycheque amount above is after this deduction. I'm just under two years away from paying off my postgraduate loan and I cannot WAIT!
Savings?: Currently, I have £85k spread across different accounts, with around £27k in a Lifetime ISA, £4k in a Stocks an Shares ISA, £22k in a Cash ISA and £32k in a Simple Saver (allowing one withdrawal a month). My partner has around £97k saved, we do see this as a joint pool of savings even though we manage them separately. We will soon use £90k of our total savings towards our 20% flat deposit. I try to save £1.5k a month unless there are big spends like holidays, car insurance etc.
Pension? Yes, I have £43k spread across various pots. I currently contribute 2% (around £136 a month) and my employer contributes 8% (the employer contribution will increase to 10% in June once I have been at the company for a year).
Utilities: My half is £100 electric, £119 council tax, £15 internet. Water is included in our rent.
All other monthly payments: £5 WaterAid, £10 Greenpeace, £6 SMARTY SIM-only plan, £29 ClassPass. Subscriptions: £6 Amazon Prime, £15 Spotify (last two split with T). It’s also worth mentioning that I sacrifice around £150 from my paycheque each month to buy 5x extra holidays each year. For me this is completely worth it!
Did you participate in any form of higher education? If yes, how did you pay for it?
Yes, I studied my undergraduate in London and was fortunate enough to receive a scholarship of around £3k per year, alongside the maximum maintenance grant as I was living in a low income single parent household. I also studied for a master's degree in London and was awarded a £10k scholarship and applied to the new government £10k postgraduate loan and worked for a charity part time to make it work financially. The loan has a high interest rate of 7% (which I did not know at the time) so I do feel the impact on my paycheque each month.
Yes, I studied my undergraduate in London and was fortunate enough to receive a scholarship of around £3k per year, alongside the maximum maintenance grant as I was living in a low income single parent household. I also studied for a master's degree in London and was awarded a £10k scholarship and applied to the new government £10k postgraduate loan and worked for a charity part time to make it work financially. The loan has a high interest rate of 7% (which I did not know at the time) so I do feel the impact on my paycheque each month.
Growing up, what kind of conversations did you have about money?
I had quite a mixed education from my parents. My mum is definitely a saver, she has always encouraged me and my siblings to save a portion of our salary and keep an emergency fund. Meanwhile, my dad is very impulsive with his spending, has been declared bankrupt in the past and is always in some form of debt. I definitely get my saving habits from my mum!
I had quite a mixed education from my parents. My mum is definitely a saver, she has always encouraged me and my siblings to save a portion of our salary and keep an emergency fund. Meanwhile, my dad is very impulsive with his spending, has been declared bankrupt in the past and is always in some form of debt. I definitely get my saving habits from my mum!
If you have, when did you move out of your parents/guardians house?
I first moved out at age 18, returning during university summers and for around four months before I lived in Australia. I then returned during holidays when I was doing my master's degree at 23. So I would say I permanently moved out at age 24 following my master's degree.
I first moved out at age 18, returning during university summers and for around four months before I lived in Australia. I then returned during holidays when I was doing my master's degree at 23. So I would say I permanently moved out at age 24 following my master's degree.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I was fully responsible at age 24 when I moved back to London to start a graduate scheme — before this time, as mentioned, I had returned home for short periods between my master's degree, travel to Australia and other jobs. I did contribute to my mum's bills, but this was a very low amount compared to living independently. While I think I am financially responsible for myself now, even without T, there are obviously huge benefits of sharing finances with a partner.
I was fully responsible at age 24 when I moved back to London to start a graduate scheme — before this time, as mentioned, I had returned home for short periods between my master's degree, travel to Australia and other jobs. I did contribute to my mum's bills, but this was a very low amount compared to living independently. While I think I am financially responsible for myself now, even without T, there are obviously huge benefits of sharing finances with a partner.
What was your first job and why did you get it?
My first job was a paper round at age 13, and I got it because I was interested in the idea of earning my own money. My mum was so proud that after four months of doing it she asked me what I wanted most in the world — at that time it was a Sony Ericsson swivel phone (the coolest phone of the mid noughties) so she bought me one to say well done which was very sweet!
Do you worry about money now?
Overall no, I feel like I am in a very fortunate position with my savings and level of income. Generally, I aim to live below my means (because I feel like I have more than enough) while enjoying life. For me this means prioritising spending on hanging out with people I love, new experiences and travel.
My first job was a paper round at age 13, and I got it because I was interested in the idea of earning my own money. My mum was so proud that after four months of doing it she asked me what I wanted most in the world — at that time it was a Sony Ericsson swivel phone (the coolest phone of the mid noughties) so she bought me one to say well done which was very sweet!
Do you worry about money now?
Overall no, I feel like I am in a very fortunate position with my savings and level of income. Generally, I aim to live below my means (because I feel like I have more than enough) while enjoying life. For me this means prioritising spending on hanging out with people I love, new experiences and travel.
Do you or have you ever received passive or inherited income?
I received £1k inheritance when my grandma sadly passed away in my early twenties. My partner recently received £7k inheritance following his grandad passing.
I received £1k inheritance when my grandma sadly passed away in my early twenties. My partner recently received £7k inheritance following his grandad passing.
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