I grew up in a low-income, working-class family. Struggling to make ends meet and having to scrimp and save is an all-permeating kind of stress that I absorbed growing up. I sometimes wonder to what extent I might be perpetuating a scarcity mindset and placing limiting beliefs on myself, convincing myself that I will never earn a comfortable salary, for example, or that it will be extremely difficult for me to do so. The main things I remember being told as I started to become more financially independent were to not live beyond my means and to never take out a credit card. My family made sure to never have any debts, and they instilled this in me. Growing up, we didn’t go on family holidays and couldn’t go on any of the fancy school trips that everyone else went on, but my parents did all they could so that we could go to a good secondary school and enjoy a range of extra-curricular activities. I think I’ve definitely carried the ethos to pursue what I love despite financial hardship with me through life, and I owe that to my mum and her sheer determination. My education, career and life decisions have been very much shaped by what brings me happiness and fulfilment, rather than financial gains. It hasn’t always been easy, but I have no regrets, even if I am feeling ready to make a change and strive for more financial stability now.
What was your first job and why did you get it?
My first job was at McDonald’s when I finished sixth form. I got the job to start earning my own money in the summer before moving to uni. Each time I came home from uni for the holidays in first year I’d be maxed out in my student overdraft and would work full-time at McDonald’s to get back up to zero in my account, before heading back to uni and getting my next instalment of student finance. It was an exhausting grind but we were young and wild, making the most of our first taste of independence. I wised up gradually over the years to come, working part-time jobs in Sheffield alongside my studies and partying less.
Did you worry about money growing up?
Yes, not so much through primary school as those were simpler, happier times, but definitely throughout secondary school where comparison and judgement was rife.
Do you worry about money now?
Yes. The only time I was able to save money was throughout the pandemic when I worked in higher education. I spent most of the lockdown back home with my parents and they kindly didn’t ask for any rent as I was still paying my rent in Sheffield (they just expected help with chores around the house). I had a full-time salary coming in and I managed to put away a whopping £5,000! I used this money to pay for driving lessons and buy a car once lockdown was over, which I would never have been able to do otherwise. I often refer to my car as my lockdown baby. At the moment I live from payday to payday and I have no savings or emergency funds. Any unexpected or additional expenses risk pushing me into the red. Last year, for example, I had to renew my visa (now necessary to work in France post-Brexit), which set me back €225. Prior to that, there was an undetected leak in the attic of our house share, which cost us €120 each (!) to get fixed and to pay off the sky-high water bill. I’ve had a number of climbing injuries which have required fronting certain costs. Life happens, but when things are already tight and something unexpected comes up, it adds an unwelcome layer of angst and stress.
At what age did you become financially responsible for yourself and does anyone else cover any aspects of your financial life?
I moved out of my parents when I was 18 and moved to Sheffield for university and haven’t looked back since. Over the years there have been times I’m a bit tight for money or I’ve dipped into my overdraft, and every blue moon my parents will send me a hundred quid or so just to top me up a bit. My dad has also paid for my car insurance and the odd house share deposit. I know there’s a real stigma around accepting financial help from family and people make a point of wanting to be fiercely independent. For me personally, since experiencing severe depression and recovering from it, my view on accepting money from family has changed. My family don’t have much, but since my sister and I have both moved out, they don’t have many expenses either. They know I don’t live beyond my means and understand that my salary is a tough one to work with, given the cost of living these days. I’m just glad to still be here and so are they. I see their occasional help as an expression of their love and support for me. I hope to be able to pay them back one day and support them when they are older.
Do you or have you ever received passive or inherited income?
I was awarded a £10,000 postgraduate scholarship. I also received a £500 International Placement Bursary during my undergraduate degree. This went towards accommodation and living costs whilst working a season as a lifeguard in France during the summer of my university year abroad.
