Money Diary: A Trainee Legal Executive On 26k

This week: "I’m a 27-year-old trainee legal executive living in Hampshire with my fiancé. I bought a flat two and a half years ago before I met him so I pay all the bills relating to the property (my fiancé offers to help but it’s a pride thing for me). He covers all food costs, car costs and other luxuries. We’re hoping to buy something together but with the rising interest rates and our wedding next year, we may have to sit tight for a while longer. I’m currently studying/sitting my professional legal exams, which are taking over my life, but there’s only one year left so it’s head down for now. My life revolves around qualifying as it’s been a lifelong goal to be a qualified lawyer (the substantial salary increase helps as well). I recently received a pay rise of £1,300 but that won’t kick in for another month."

Occupation: Trainee legal executive 
Industry: Law
Age: 27
Location: Hampshire
Salary: £26,000 
Paycheque amount: £1,764.63
Number of housemates: My fiancé, J, and our two cats.
Pronouns: She/her

Housing costs: £445.69
Loan payments: None.
Savings? Just under £5.5k. Buying the flat wiped them out so I’m slowly building them up again.
Pension? My employer pays 8% into it and I pay 5%. Due to moving jobs regularly before this one, I’m not sure how much is in the pot.
Utilities: £162 electricity, £116.99 council tax, £100 service charge and ground rent, £43.63 internet and £30 water (biannually).
All other monthly payments: £58.76 phone bill, £18.50 cat insurance, £7.30 home insurance. Subscriptions: £9.99 Spotify, £10.99 Netflix.

Yes, I went to university and did a four-year course but dropped out with six months left due to personal reasons. I had loans for both the tuition and maintenance. I was given the lowest amount available so I worked in a supermarket and a pub to cover the difference. It was really tight and I’m still in that mindset now.

I always thought that our family was 'well off'. I never wanted for anything and did multiple extracurricular sports. However, working in law and being surrounded by colleagues who were privately educated, I realise that my parents were just good with money and sacrificed things like holidays and new cars to provide us with that lifestyle. My parents taught us the value of a pound and we always worked for pocket money. 'Never a lender or a borrower be' was quoted regularly in our house. 

I moved out at 18, then moved in and out due to the breakdown of (multiple) relationships. I moved out at 24 into the flat I’m in now.

I would say at 24. Before that I lived at home on and off and I was lucky that I wasn’t charged rent when I did as it enabled me to save enough for a flat deposit.

I got a job at 15 in a well-known electronics store. My grandad helped me get it as he was working there because retirement was driving him mad. I got it so I could save for driving lessons and buy myself Sims expansion packs.

All. The. Time. I always think of the worst-case scenario. Plus, working in property law I keep an eye on financial forecasts, which doesn’t help with the constant worrying. I feel like I am too frugal and I could afford to spend more but I’m always doomsday-planning. I wish I could be a bit more liberal with money as you can’t take it with you at the end of the day.

Yes, I inherited £5k from my grandad a few years ago. It was used to pay off a car loan taken out in my name by an ex (long story). I also had some help buying my flat. My parents and grandparents gave me some money to help with the extra fees.