A Senior Account Manager In Cornwall On £35,000

This week: "I’m a 26-year-old senior account manager living in Cornwall. My partner, L, and I bought an old Victorian house at the beginning of this year and have been spending a lot of time renovating it. I have a blended approach to spending money — I’m very careful throughout the week and always try to get a deal or earn cashback where I can to put into savings and investments. I also like to go out with my friends on weekends and buy treats and nice gifts and travel. We are also trying to overpay our mortgage as much as possible while having two or three holidays a year, and we’re in the process of adopting a dog."

Occupation: Senior account manager
Industry: PR 
Age: 26
Location: Cornwall
Salary: £35,000
Paycheque amount: £2,167.79 net 
Number of housemates: One: my boyfriend, L.
Pronouns: She/her

Housing costs: £302 for my half of the mortgage, split equally with L.
Loan payments: £60 student loan. I have no idea how much I have left to pay and have accepted my fate that this may never be paid off.
Pension? I currently pay 4% and my employer pays 2.5%. I have no idea how much is in my pension pot but I have a goal this year to consolidate it and up my contributions to 6%.
Savings? £4,525 in a stocks and shares ISA, £8,000 in a fixed saver, £13,200 in an easy-access saver (most of which is earmarked for a lump-sum overpayment on our mortgage at the end of the year), £1,391 in various savings pots.
Utilities: We equally split the following: £105 council tax, £30 water, £138 gas and electricity, £21 high-speed fibre internet.
All other monthly payments: £34.22 phone payment (I regularly try to reduce this through cashback app Airtime Rewards), £13 travel, phone and breakdown insurance. Subscriptions: £4.99 Hayu, £10.99 Apple Music, £2.49 iCloud storage.

I went to university and received the minimum maintenance grant alongside the tuition loan. My parents supplemented this by paying my rent so I had the full use of the maintenance grant for living costs and I additionally did some ad hoc tutoring work. By the end of each year I was always maxed out on my overdraft, though.

I grew up in a wealthy household but my parents didn’t spoil me in the traditional sense with lots of holidays and gifts. My dad is much more of a saver and finds spending money painful, while my mum is always open to a treat. Overall, both of them are sensible — the phrase "look after the pennies and the pounds look after themselves" was used a lot. I was given pocket money and was expected to pay for all of my own clothes and entertainment with it, which was good budgeting practice.

I moved out when I went to university, although I came back for holidays. After uni, I returned home for two and a half years before officially moving in with L when the COVID lockdown happened.

I became totally financially responsible when I moved in with L three and a half years ago (I didn’t pay my parents rent when I lived at home). I appreciate we now split bills, which makes things cheaper, but if we were to break up I would be able to cover everything myself so I see myself as financially independent. 

My first job was the first summer of university when I worked in a hotel, serving food and making beds. It was mainly to get out of my overdraft before I started term again. When I was a teenager I always wanted a weekend job but my school didn’t allow them.

Constantly, which is completely ridiculous as I know how incredibly privileged I am. I stress over spending and despite earning the most I ever have and watching how I spend more than ever, I still feel like I have no money left at the end of the month, with the cost of living crisis and prices creeping up.

My grandparents decided to give the majority of their inheritance when they both passed away to their grandchildren, as all of their children were very comfortable. I received around £275,000, which I used for a large portion of my house deposit. My parents also gave me £50,000, which I used for renovations and house purchasing costs (I have some still in savings). I know this is an obscene amount that would take decades for me to save up myself, so I’m very careful not to spend any of it on clothes and holidays, which is sometimes tempting.