Money Diary: A 21-Year-Old Trainee Psychologist On 15k

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 21-year-old trainee counselling psychologist. In the past year I’ve been working throughout the pandemic and saving bits as I go. I’ve wanted to become a psychologist for years and I have been working towards gaining the relevant experience so when I got onto the doctorate, I was so happy! I feel very lucky that I am on it at such a young age when most people do it when they are 10+ years older than myself with a lot more experience."
 
Industry: Psychology
Age: 21 years old
Location: Teesside
Salary: This varies so much depending on the shifts I work but around £12,000 last year plus roughly £3,000 student loan which I try to save.
Paycheque amount: £400-600 roughly per month.
Number of housemates: Four: my mum, my stepdad, my younger brother and our new puppy, G.
 
Monthly Expenses
Housing costs: £10 per week to my mum. After speaking to others, I realise how lucky I am to only pay this.
Loan payments: £0. I have student loans (my undergraduate and now my doctorate loan) but I don’t earn enough to pay this back yet.
Utilities: £0
Transportation: My car is £114.87 per month. I pay annually for my car insurance including breakdown cover which was £360 this year. Petrol varies depending on travel but approx. £30-40 per month.
Phone bill: £17 for SIM only contract. I recently bought my new phone outright to save on an expensive monthly contract.
Savings? £9,500 in savings for future home (hopefully with my partner J) when I qualify in two and a half years.
Other: Insurance to practise as a trainee is £40 per year and I pay monthly £0.79 to iTunes for extra storage. I try to keep my outgoings as little as possible. I also have a contact lens prescription that comes every three months for £24. I got these because trying to see patients with PPE and glasses is not fun! Also pay approx. £80 per month for therapy for my course requirements (I hate this but I haven’t got a choice).

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