Money Diary: A Project Manager In Glasgow On 40.5k

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 28-year-old project manager living in Glasgow. My fiancé and I come from very different backgrounds and often have contrasting attitudes towards money. I am naturally a saver and a worrier whereas they are more laid-back and happy to spend. I tend to be strict with my savings and how I divide my budget. My salary has increased a lot in the past few years and has allowed me to have more financial security. We bought our flat together in late 2020. We went 50/50 on the deposit and split the majority of our bills equally. This completely drained my savings so I worked on building up an emergency fund after this. We got engaged earlier in the year and building up my wedding fund will be the next big financial goal. My main expenses outside of bills are gig tickets and beauty treatments. I am working on having a more positive money mindset but struggle a lot with internalised guilt around what I earn and the life I am able to live now."
Occupation: Project manager
Industry: Tech
Age: 28
Location: Glasgow, Scotland
Salary: £40,500
Paycheque amount: Approx £2,340 after tax, NI, pension contribution and student loan.
Number of housemates: One and a half: fiancé S and our cat P.
Pronouns: She/her
Monthly Expenses
 
Housing costs: £450 for my share of the mortgage on our two-bedroom tenement flat. I earn more than my partner so we split this 60/40.
Loan payments: Student loan is taken directly out of my pay, usually £100 a month. Our car is on PCP finance, my share is £110.
Pension? I pay 5% and my employer matches this. It usually works out to be around £165 for my share.
Savings? Currently £8,500 in an ISA which is primarily an emergency fund. I also have £750 split between a few Monzo pots for our upcoming holiday, a tattoo appointment and my currently very tiny wedding fund.
Utilities: My half of the joint bills is £15.50 internet, £74 council tax, £17.50 factors fees, £5 building and content insurance, £40 gas and electric.
All other monthly payments: £37 phone bill. £27 gym membership. £30 car insurance. £6 life insurance. Subscriptions: £6.99 Netflix, £9.99 Spotify.
Did you participate in any form of higher education? If yes, how did you pay for it?
I did a bachelor's degree in Scotland and my tuition fees were covered by the government. I got the maximum student loan and bursary due to my household income. I worked a full-time retail job while at university to cover extra costs and to save.
 
Growing up, what kind of conversations did you have about money?
I grew up one of four kids in a single-parent household on benefits. My dad left when I was young and we have no contact with him, which put a lot of pressure on my mum. We had an unstable childhood due to various situations and moved around a lot. Money was always tight and I felt the stress, even as a young kid. I didn’t get any financial education from my mum and have been trying to teach myself as my salary increases. All I’ve ever wanted is a stable and comfortable life and I feel like I am there now, financially and personally.
 
If you have, when did you move out of your parents'/guardians' house?
I moved out in my second year of university to live with friends but moved back for the remainder due to family circumstances. I moved out for good when I was 22 after graduating to live with my partner.
 
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
When I stayed at home during university I worked full-time and paid my mum £300 a month as well as paying for the occasional food shop or treat for my family. As my mum still covered some of my living costs, I didn't consider myself to be fully responsible until I moved out at 22. 
 
What was your first job and why did you get it?
I did volunteering as a teenager but got my first paid job at 17, as a waitress. I got this job to give me money primarily for clothes and gig tickets, although I would share my pay and tips with my mum when she needed the support.
 
Do you worry about money now?
I make more money than I had ever thought possible for myself. Growing up, I never had big expectations and struggle with guilt now that I earn what I consider to be a significant amount. I don’t worry so much day to day but I do worry about money in the long run. I’m not saving as aggressively as I used to but aim to get back on this soon. I eventually want to buy a proper house and have children. I am also keen to get into investing but I am not quite confident enough that I completely understand it.
 
Do you or have you ever received passive or inherited income? If yes, please explain.
I haven’t personally but my half of our mortgage deposit was from savings while my fiancé's was a mix of savings and a small inheritance.

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