Money Diary: A Senior Management Accountant On 67.5k

This week: "I'm a 31-year-old accountant based in London. I'm originally from Australia but moved to London in 2019 to use the city as a base to travel around Europe. I was fortunate enough to do a bit of travel before COVID hit but I definitely need to explore more. I currently rent with my boyfriend but we are looking to purchase our first home here so I'm trying to kick my savings for a house into overdrive and see where I'm unnecessarily spending. I’m always telling my friends that I don’t know where my money goes every month as I don’t tend to splurge on clothes or events. I have an idea it might be going for food and eating out..."

Occupation: Accountant
Industry: Finance
Age: 31
Location: London
Salary: £67,500 a year plus 10% annual bonus. 
Paycheque amount: £4,013.30 monthly after tax and NI.
Number of housemates: One: my boyfriend, F.
Pronouns: She/her

Housing costs: My share of the rent is £725. 
Loan payments: None.
Savings? As F and I are looking to purchase our first home, all my savings up until this point have been moved to my house deposit fund (roughly £50,000). We have another £6,000 in our joint account for future home repairs and expenses.
Pension? As I'm from Australia and plan to move back before retirement, I have opted out of the pension scheme here in the UK. 
Utilities: My share comes to £85.50 council tax, £70 gas and electricity, £12 internet, £18 water.
All other monthly payments: £10 phone, £55 gym.

I went to university in Australia where we can get HECS-HELP loans to help pay for our studies. Repayments are taken from our salary once we earn a certain amount.
 
Growing up, what kind of conversations did you have about money?

We were financially comfortable. My mum was a stay-at-home mum and my dad worked two jobs to provide for the family of five. When my sisters and I were young, my dad opened bank accounts for us and we would put our birthday and Christmas money into our accounts to save for the future and learn about money.

I moved out when I moved to London in 2019. 

I became financially responsible for myself when I got my first part-time job at a bakery during the first year of university. When I lived with my parents before moving to London, I didn’t have to pay rent. It was never a spoken thing about paying them when living at home.

It was at a bakery when I was 19 so that I could have spending money and to fund a six-week Europe trip once I graduated.

I don’t worry about money day to day as I do understand that I am fortunate to be making the money that I am. However, with all the research I have come across while looking to purchase our first home and the associated costs, it is scary thinking about paying off a mortgage and fitting children into the picture in the next few years. 

No.