Welcome toMoney 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 an HR reward analyst with five years of experience. I currently work for a financial services company and have been in my role for two and a half years. When I first started I was on £39,000 but over the past two and a half years have received gradual increments to my salary.
I’ve always had a 'live within your limit' attitude towards money and as such have never had any big issues or been in debt (apart from my student loan). As my salary has increased over the last couple of years I have made a conscious effort to keep my spending habits the same, which has in turn helped me save more. I’m lucky to live in a cheap flatshare (by London standards), which has also helped keep my living costs low. I am aiming to save a 10% deposit towards a flat somewhere in greater London by next year.
I am currently quarantining by myself and have been for a month and a half – this has had some ups and a lot of downs. All my flatmates are either quarantining with their family or partners but I decided not to go home because my dad developed COVID-19 at the start of lockdown."
Occupation: HR analyst
Industry: Financial services
Paycheque amount: £2,500 after tax, pension and student loan deductions.
Number of housemates: Three – me and my housemates.
Housing costs: £550 per month for my room.
Loan payments: I pay around £185 every month towards my student loan debt.
Savings? Cash ISA savings: £21,000. I have been saving quite intensely over the past two years as I am aiming to have a 10% deposit for a flat in the Greater London area by 2021. I also have around £1,000 in a separate savings account which comes in handy for emergencies, treats or holidays.
Other: Phone bill £50. Laptop/phone insurance £15. Netflix £8.99. Gym £14.99 (payments currently frozen due to COVID-19). Prior to lockdown I was saving £850 every month; however I have been able to save £1,100 and £1,200 respectively in the last two months, mainly because I am saving my travel cost (£180 per month) as well as on dining out, buying food/snacks at work and socialising. This period has really made me realise that the small things add up over time.
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