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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 am a freelancer and have been since graduating three years ago. I only started earning over the tax threshold last year. I work in theatre as a director but also act, produce, write, facilitate when needed (and when paid). I also do any old random jobs for money around theatre work. Most recently that is as a home organiser and cleaner. For the last three years I haven’t been in one place for more than five months so I move about a lot, and often live with family or my parents to save money, if not theatre digs – I have been on tour with a show since March, which is quite well paid. I have decided to move to London properly as I go there about once a week for work or to see shows, and I need to invest in the 'right place, right time' mindset and commit to being in one city.
I have always been quite scared of money, and I like to shop when I am stressed, so I decided that 2019 was going to be the year I grabbed cash by the ta-tas and attempted to save some money and not be totally ignorant about it. I decided to get app’d up and use Monzo and Chip. I transfer £100 to my Monzo account each Monday and try to use that as my day-to-day cash for the week. I usually run out of that £100 and need to top it up."
Industry: Theatre director and home organiser
Age: 25
Location: All over the UK but mostly between London and Cambridge. Last week I was in Salisbury and Sheffield, the week before that I was in Derby.
Salary: £17,000
Paycheque amount: It varies. Some months I can earn £2,000, other times it's £0.
Number of housemates: Depends if I am at home (two parents), with a friend or in a hotel.
Age: 25
Location: All over the UK but mostly between London and Cambridge. Last week I was in Salisbury and Sheffield, the week before that I was in Derby.
Salary: £17,000
Paycheque amount: It varies. Some months I can earn £2,000, other times it's £0.
Number of housemates: Depends if I am at home (two parents), with a friend or in a hotel.
Monthly Expenses
Housing costs: Between £0 and £100 a week (if I am staying in theatre digs, not in the city I live in, this is covered by the producers). I pay my parents back in kind when I live with them with physical labour and odd jobs, or by buying the weekly shop, etc.
Loan payments: I do not earn over £21,000 so I do not pay back my student loan yet although there is a £75,000 bill waiting for me somewhere yaaassss.
Utilities: N/A
Transportation: Between £70 and £180 a month.
Phone bill: £21.50. I recently spent a whole invoice – £750 – on a new iPhone but my last phone I had for five years and plan to do the same with this one. Cost per use it ends up as 40p a day.
Savings: I am trying to be like a squirrel and have little pockets of cash around. If I had my own house I would probably have a wad of cash strapped to the orange ball in the toilet. £191.93 in my Chip account (an app which calculates microsaves each week for you, like I saved £7.91 the other day). £176.84 in my Monzo round-up account which is for my holiday spending money this year. EVERYONE should have a round-up account, it’s frickin great. I have £116 in a bonus account, which I have had literally since I was 11 and just use to bung money around and separate from my current account. And as of this week I have £1,800 in a Lifetime ISA (probably for retirement rather than a house, I have recently had acute Pension Panic).
Other: Women’s Equality Party, £36 yearly. Labour Party, £12 yearly (I was under the impression I could be a member of both but now I think I might be committing some kind of low-level fraud).
Loan payments: I do not earn over £21,000 so I do not pay back my student loan yet although there is a £75,000 bill waiting for me somewhere yaaassss.
Utilities: N/A
Transportation: Between £70 and £180 a month.
Phone bill: £21.50. I recently spent a whole invoice – £750 – on a new iPhone but my last phone I had for five years and plan to do the same with this one. Cost per use it ends up as 40p a day.
Savings: I am trying to be like a squirrel and have little pockets of cash around. If I had my own house I would probably have a wad of cash strapped to the orange ball in the toilet. £191.93 in my Chip account (an app which calculates microsaves each week for you, like I saved £7.91 the other day). £176.84 in my Monzo round-up account which is for my holiday spending money this year. EVERYONE should have a round-up account, it’s frickin great. I have £116 in a bonus account, which I have had literally since I was 11 and just use to bung money around and separate from my current account. And as of this week I have £1,800 in a Lifetime ISA (probably for retirement rather than a house, I have recently had acute Pension Panic).
Other: Women’s Equality Party, £36 yearly. Labour Party, £12 yearly (I was under the impression I could be a member of both but now I think I might be committing some kind of low-level fraud).
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