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Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking every last penny.
This week: "I’m a 42 year-old Office and Quality Manager for a communications and security company. I have lived in Portsmouth my whole life, but the dream is one day to move somewhere with more countryside, fewer people and a gentler vibe. I have been married to my husband, V for 11 years, together 21 years, and we made the decision very early on that we did not want children. We are both very happy with our choice which means we have far more disposable income and time than the majority of our friends who do have children. We do, however, have two fur babies, a a two-year old dog, R and a 17 year-old cat, P. We bought our three-bedroom terrace house 16 years ago using an inheritance and we currently have about nine years left on the mortgage. I'd say I was equal spender and saver. I used to be bad with money in my 20s and got into debt and realised I couldn’t be trusted with credit, so I cut up all my credit cards and have never had one since. Recently we have been able to pay off a massive chunk of the mortgage and still have some saved. I love seeing it sitting there in the account gaining interest, so I have become addicted to topping it up as often as possible. Saying that I will always be an advocate of the ‘treat yourself’ brigade and do, often!"
Occupation: Office & Quality Manager
Industry: Communications and Security
Age: 42
Location Portsmouth, Hampshire
Salary £47,500 plus £2,500 in annual bonuses if the company hits quarterly profitability.
Paycheque Amount: £3,146 (before pension is removed).
Number of housemates: Three: husband V, dog R and cat P.
Pronouns: She/her
Industry: Communications and Security
Age: 42
Location Portsmouth, Hampshire
Salary £47,500 plus £2,500 in annual bonuses if the company hits quarterly profitability.
Paycheque Amount: £3,146 (before pension is removed).
Number of housemates: Three: husband V, dog R and cat P.
Pronouns: She/her
Monthly Expenses
Housing costs: My half of mortgage is £413. V and I split all bills 50/50, we pay this into a joint bills account and then whatever is left is our own to spend as we like. We overpay £150 a month on the mortgage and have done for about three years.
Loan payments: None, just the mortgage.
Savings?: £2,000 in my longer term savings account, £500 joint emergency fund,
£17,000 in an ISA, £1,500 in my own savings ‘treat’ pot, £180 shopping fund.
Pension? Yes I pay in 5% a month and my employer pays in 5%.
Utilities: My half is £60 energy, £80 council tax, £8 water, £16 waste, £7.50 TV licence, £11 boiler insurance.
All other monthly payments: £30 contact lenses, £11 pet insurance, £9 Petplan.
Subscriptions: £13 Amazon Prime, £12.99 Apple Music, £22 Wild Dose, £4.99 Netflix, £22 gym, £62 Butternut.
Loan payments: None, just the mortgage.
Savings?: £2,000 in my longer term savings account, £500 joint emergency fund,
£17,000 in an ISA, £1,500 in my own savings ‘treat’ pot, £180 shopping fund.
Pension? Yes I pay in 5% a month and my employer pays in 5%.
Utilities: My half is £60 energy, £80 council tax, £8 water, £16 waste, £7.50 TV licence, £11 boiler insurance.
All other monthly payments: £30 contact lenses, £11 pet insurance, £9 Petplan.
Subscriptions: £13 Amazon Prime, £12.99 Apple Music, £22 Wild Dose, £4.99 Netflix, £22 gym, £62 Butternut.
Did you participate in any form of higher education? If yes, how did you pay for it?
I went to college to study IT but the freedom after the restrictions of school was too much for me and I never went to class. In the end my mum found out and said I had to leave and get a full time job at 16.
I went to college to study IT but the freedom after the restrictions of school was too much for me and I never went to class. In the end my mum found out and said I had to leave and get a full time job at 16.
Growing up, what kind of conversations did you have about money?
I grew up with very mixed messages regarding money. My biological dad who I used to see at weekends was very bad with money. Always living out of the spare rooms of his friends and flitted from job to job. However, he always made me feel loved and secure no matter what. The rest of the time I lived with my mum and my stepdad, who was very wealthy. He was the safe one, the one who took us on holidays and paid for driving lessons etc. He was generous in a lot of ways but also strict with money and I never received pocket money or was bought treats outside of birthday and Christmas. No one ever actually sat me down and explained budgets or the pitfalls of credit cards and debt etc.
I grew up with very mixed messages regarding money. My biological dad who I used to see at weekends was very bad with money. Always living out of the spare rooms of his friends and flitted from job to job. However, he always made me feel loved and secure no matter what. The rest of the time I lived with my mum and my stepdad, who was very wealthy. He was the safe one, the one who took us on holidays and paid for driving lessons etc. He was generous in a lot of ways but also strict with money and I never received pocket money or was bought treats outside of birthday and Christmas. No one ever actually sat me down and explained budgets or the pitfalls of credit cards and debt etc.
If you have, when did you move out of your parents/guardians house?
When I was 18 my mum decided she wanted to move abroad with her new husband so I moved into a bedsit with my boyfriend at the time.
When I was 18 my mum decided she wanted to move abroad with her new husband so I moved into a bedsit with my boyfriend at the time.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
From the second I moved out at 18 I was financially responsible for myself, all rent and bills. From the age of 16 I had to pay my mum housekeeping every month, pay for my own phone line and buy all my own food.
From the second I moved out at 18 I was financially responsible for myself, all rent and bills. From the age of 16 I had to pay my mum housekeeping every month, pay for my own phone line and buy all my own food.
What was your first job and why did you get it?
My first job was at 15 as a care assistant in an old peoples home and I hated it. It made me so sad to see the frailty that comes with old age. I used to hide in the kitchen and just wash up all day long instead of being out on the floor.
My first job was at 15 as a care assistant in an old peoples home and I hated it. It made me so sad to see the frailty that comes with old age. I used to hide in the kitchen and just wash up all day long instead of being out on the floor.
Do you worry about money now?
Not particularly. I know we are in a much better position than a lot of people and we have no debt, no children and are both in well paid jobs currently. We have decent savings behind us and both have pensions. I feel like we can’t do much more and life is also for living NOW.
Not particularly. I know we are in a much better position than a lot of people and we have no debt, no children and are both in well paid jobs currently. We have decent savings behind us and both have pensions. I feel like we can’t do much more and life is also for living NOW.
Do you or have you ever received passive or inherited income?
Yes, my biological dad died when I was 27 from a work-related illness. When he died the MOD paid out compensation which came to me. This has always been a bittersweet situation for me because it meant that he was able to bequeath me a substantial amount which got me my house. But I would have much preferred him to have had some time to enjoy the money himself as he never had anything in life. V’s nan also passed last year and we received another large chunk which we put straight onto the mortgage.
Yes, my biological dad died when I was 27 from a work-related illness. When he died the MOD paid out compensation which came to me. This has always been a bittersweet situation for me because it meant that he was able to bequeath me a substantial amount which got me my house. But I would have much preferred him to have had some time to enjoy the money himself as he never had anything in life. V’s nan also passed last year and we received another large chunk which we put straight onto the mortgage.
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