Money Diary: An Emergency Services Advisor On 34.5k

This week: "I’m a 25-year-old emergency services advisor living in the southeast of England. I joined the emergency services when I left university at 22 and have jumped roles a couple of times in the past few years. I’ve lived in a house-share with five housemates for nearly four years but I just handed in my notice because I’m moving in with my boyfriend (B). I’ll miss them a lot and I’m nervous to live with a (slightly messy) boy for the first time but I’m excited to spend more time with B and less time trying to get hold of our landlord.

I’m trying to be better with money as I used to impulse-buy when I was stressed. I’ve learned that meditating is much better for me and my purse in the long run. I definitely struggle with guilt when I spend money on going out to eat and planning trips but I’m trying to balance enjoying my 20s with saving up for the future."

Occupation: Tactical advisor
Industry: Emergency services
Age: 25
Location: Southeast 
Salary: £34,545
Paycheque amount: £2,000-£2,100 (this varies depending on how many miles I travelled the previous month).
Number of housemates: Five (although this will change in a couple of weeks when I move in with B).
Pronouns: She/her

Housing costs: £825 for a room in a shared house. This will hopefully be quite a bit lower soon.
Loan payments: £54 for my student loan and £67 for my postgraduate loan, taken straight out of my paycheque.
Pension? I pay £187.12 into my pension each month and my employer pays in £477.87 (one of the major perks of public service).
Savings? I have just over £10,000 split across my accounts. I try and save £650 a month and split this between a normal ISA, a Lifetime ISA and a couple of sinking funds for things like travel and birthday gifts.
Utilities: These are all included in my monthly rent payment for now. 
All other monthly payments: £44 gym/swimming membership, £23 dental insurance, £9.35 prescription medication. Subscriptions: £9.99 Spotify, £3.99 Feel Better app.

I did an undergraduate degree and then a one-year master’s degree straight after. I was the first person in my immediate family to participate in higher education. I took out student loans, worked during the summer holidays and did student tours and talks between my lectures (sometimes for money but usually for the promise of a free lunch).

I don’t remember many conversations about money when I was growing up but this means that I was incredibly lucky to grow up not really worrying about money. My parents owned their own business and although I knew that my dad was a bit of a frivolous spender, it was only when they divorced last year that I discovered that money was a big source of tension. This is why I’m keen that my boyfriend and I talk about it openly when we live together.

I moved out at 18 to go to university. I’ve never moved back permanently but I did stay at home in the university holidays and I sort of moved back for four months in 2020 when I struggled with my mental health in lockdown. 

I became responsible for all my day-to-day spending when I moved out at 18. I’m definitely not completely financially independent (my parents still cover my car insurance and my phone bill on family plans). I plan to take these over when I move and am spending less of my income on rent.

My first job was helping out with dance and drama classes at the theatre school I trained with. I was 14 and got paid in cash in little brown envelopes. At the time it seemed like a great deal because I was doing something I loved and also getting money to spend in New Look when I got the bus to the nearest town.

Yes, all the time. I know that I’m very fortunate to be in a relatively stable financial situation and to have some savings behind me but I stress about the cost of living and definitely doomscroll the news a bit too much.  

I inherited a bit of money when my grandad passed away years ago, which my mum put straight into a savings account until I was older. I don’t remember exactly how much this was but I used it to pay for driving lessons when I was 17.