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 33-year-old chartered accountant working as a finance manager for a TV and film production company, living in London. I wrote a Money Diary last year and at that time I was looking at purchasing my first home with my boyfriend and in a job with no career progression in sight. Fast-forward a year and a half, and we have just celebrated our first year in our first home, I’ve started a new job at a higher level and we’ve gotten engaged and are planning the wedding for next summer. As my family from Australia is coming for the wedding, we are also planning a Europe trip for afterwards as it will be their first time here. As we are saving for a wedding and the trip, I am trying to save where I can but without putting on hold the things that I enjoy like going out to dinner and having fun. Doing this Money Diary will hopefully highlight any areas of improvement and show that I can still enjoy life but save where I need to.”
Occupation: Finance manager
Industry: TV and film production
Age: 33
Location: London
Salary: £75,000
Paycheque amount: £4,505
Number of housemates: One: my fiancé, F.
Pronouns: She/her
Monthly Expenses
Housing costs: £1,122.09 for my half of the mortgage. I overpay £400 a month in the hope of paying it off earlier.
Loan payments: None.
Savings? My total savings are £15,000 and this is currently my wedding and Europe trip fund. I am hoping to save £1,500 a month for the next eight months before the wedding. F and I also have a joint account, which only has £600 in it at the moment as we had shutters installed in the house earlier this year, landscaped our garden a few months ago and had to replace our washing machine last month. We contribute £300 each a month to this account. We also have a shares account with £11,550 in shares. This is like my own little pension pot and I won’t sell my shares until I really need the money or until I retire. I plan to add £150-£200 a month until I retire.
Pension? As I am from Australia and plan to move back before retirement, I have opted out of the pension scheme here in the UK. The money I save from opting out is being put into the wedding pot but after the wedding I will use it to invest in shares to grow my own little pension pot.
Utilities: £74 council tax, £12.50 British Gas HomeCare insurance, £8.43 building insurance, £3.80 contents insurance, £48.28 gas and electricity, £12 internet, £20 water.
All other monthly payments: £10 mobile phone. Subscriptions: £2.49 Netflix, £4.50 Amazon Prime, £5 Spotify Premium Family.
Did you participate in any form of higher education? If yes, how did you pay for it?
I went to university in Australia where we can get HECS-HELP loans to help pay for our studies. This loan is interest-free and is indexed every year in line with inflation. Repayments are taken from our salary once we earn a certain amount, just like here in the UK. While I have been in London, as I have not worked back home where an employer can take repayments from my salary, I have had to pay around AU$5k every year at tax time. I paid off all my HECS-HELP last October. I also completed my CA (graduate diploma of chartered accounting), which takes three years to complete, after my bachelor’s degree, but this was paid by my employer.
Growing up, what kind of conversations did you have about money?
We were financially comfortable. We didn’t go without but we also didn’t ask much from our parents. My parents taught my sisters and I to save from an early age. My dad opened bank accounts for us when we were young, and we would put our birthday and New Year’s money into our accounts to save for things we wanted and for the future.
If you have, when did you move out of your parents’/guardians’ house?
I moved out when I moved to London in 2019.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I became financially responsible for myself when I got my first part-time job during my first year of university. I lived at home prior to moving to London and I didn’t have to pay my parents board so I guess they covered that aspect financially.
What was your first job and why did you get it?
It was at a bakery when I was 19 so that I could have spending money and to fund a six-week Europe trip once I graduated from university.
Do you worry about money now?
I don’t really worry about money day to day as I know I am lucky enough to earn a good salary and F and I already have our foot on the property ladder. It’s a bit scary to think all my savings are going to the wedding but I know I’ll be able to rebuild my savings pot afterwards. It is also good that F and I put away £300 a month into our joint account for home emergencies — it has come in handy with all the emergencies we have had since becoming homeowners, such as a broken boiler and washing machine.
Do you or have you ever received passive or inherited income?
No.
6 a.m. — My fiancé, F, is in the office today so his alarm goes off. He allows himself a 30-minute scroll in the morning before he gets up to get ready for work.
7:30 a.m. — Today my best friend, T, and her fiancé, J, land in London from Melbourne! Her flight got in at 4.30 a.m. and she didn’t want me to go get them from the airport so I said I’d meet them at the bus station in town. I text her to ask her where they are and she says they’re on the bus. I get up, get ready and go meet them at the bus station.
8 a.m. — We get home, make teas and chat about anything and everything before they shower and take a nap while I log onto work.
9:30 a.m. — It’s month end at work so I’m super busy. We are also in the midst of a system migration so we have to test all the functions in the testing environment before we go live in five weeks. Eeekkk!
1 p.m. — T and J wake from their extra-long nap and I take them to my favourite falafel stall in town. J can’t believe how good it is and says he needs to have it again before he leaves London. I pay for the food, £15.
5 p.m. — We have plans to catch up with our friends C and N. They don’t live in London but went to Iceland for a few days and flew into Gatwick so we made dinner plans for Korean tapas and cocktails. We over-order as always and have two cocktails each. We have an amazing time catching up, hearing about C and N’s trip to Iceland and our friends meeting. My share comes to £48.50.
9:30 p.m. — As it’s been a long day for everyone, we part ways with C and N, who have to drive back to Bristol. F, T, J and I head home to finally crash, £6.20 on TfL.
Total £69.70
9:30 a.m. — It’s the weekend! F has work today but is working from home. J has plans to catch up with a friend while T and I go for afternoon tea and a show in the West End.
10 a.m. — We have a quick breakfast at home of oats, granola, fruit and yoghurt. J went to Tesco yesterday to try to find Australian Weet-Bix but only found Weetabix, the British version. He says he actually prefers the British version as it tastes like it has less sugar. I joke that he should bring some back in his suitcase.
10:30 a.m. — We catch the train into Oxford Circus and I show T and J Liberty and we all marvel at the beautiful architecture and interiors. We then walk down Regent Street and make a stop at Hamleys. They are amazed and say they haven’t seen anything like it. We meet J’s friend A at Hamleys and we all walk towards the Theatre Royal Drury Lane for afternoon tea. They admire the architecture on Regent Street and Piccadilly Circus.
12 p.m. — We leave J and A to do their own thing and T and I go to afternoon tea. It is a Regency afternoon tea and instead of finger sandwiches there is a coronation chicken pie (the standout for me), a few other savoury bits, an ice cream sandwich (which we should have eaten sooner as it starts to melt), a miniature sticky toffee pudding with caramelised popcorn on top and a really sweet vanilla cake with buttercream. The scones are absolutely delicious and I discover I actually like Earl Grey tea! High tea comes to £66.37.
2:45 p.m. — We end up being late for Hamilton so we miss the first two songs. I didn’t think I’d enjoy it as much as I do as I didn’t know the story but it’s fantastic. I love the music.
5:30 p.m. — T wants to check out Fortnum & Mason and buy some tea as she loves it, so we go there after Hamilton and then head home, £8.90.
7 p.m. — F makes us turkey steaks with chips and roast vegetables, £6. We watch the film Uglies on Netflix after. It’s weird but I enjoy it.
9:30 p.m. — We spend the rest of the night catching up with T and J.
12 a.m. — Lights out!
Total: £81.27
10:30 a.m. — Sunday calls for Sunday roast! But before that we go to Buckingham Palace to watch the Changing of the Guard. It’s totally different and a much bigger spectacle than when I last saw it years ago. It might be a special event.
11:30 a.m. — We stop by Whittard of Chelsea where T can buy some more tea. I’m eyeing up the sticky toffee pudding white hot chocolate. I’ll treat myself to it after payday.
12:15 p.m. — We make our way through Borough Market, showing T and J Bread Ahead and the paella stall with their never-ending queues.
1 p.m. — It is time for our Sunday roast at Hawksmoor. I have to say it comes out in record time, the service is excellent and the roast is plentiful and absolutely delicious. We finish it off with a sticky toffee pudding, £35.21.
3:30 p.m. — We need a walk after that big lunch. We walk to Tower Bridge to take the obligatory London tourist photo. I then leave T and J so they can explore London on their own and I go home to spend time with F, who had work again today, £9.70.
5:30 p.m. — F has picked up ingredients for a chicken mushroom risotto (one of my signature dishes) as Tesco is only five minutes around the corner from us. I wouldn’t have made it back in time as it closes at 5 p.m. on Sunday, £8.
8 p.m. — T and J return home and join us for dinner. They are super tired and have walked 25,000 steps.
10 p.m. — We spend the rest of the night playing Jackbox (a series of games like trivia and Pictionary played online). To keep us sane during the pandemic, F and I would host weekly Jackbox nights with our friends.
Total £52.91
9:30 a.m. — Thankfully a WFH day since we stayed up until 1 a.m. playing Jackbox. Poor F, he has an office day today and didn’t get much sleep.
10 a.m. — T and J are exploring on their own today, doing Primrose Hill, the colourful houses on Chalcot Square and then lunch at Dishoom per my recommendation. They then head off to Madrid to start their three-week holiday in Europe (Spain, Italy and France). I, on the other hand, am back at work, continuing with my tasks from Friday.
1:30 p.m. — I have the leftover risotto for lunch and then walk T and J to the bus station heading to the airport. I head to Tesco on my way home and pick up ingredients to make F’s favourite Old El Paso burrito bowl, £5.65.
2:30 p.m. — Work is busy and I power through some of my tasks. I really want to set a good pace for the week ahead.
7:30 p.m. — F and I have dinner together and it is nice to have the house to ourselves again. We snuggle up on the couch after and watch Challengers. I had expected it to be better as I love Zendaya, but I hate to say it: I didn’t enjoy it.
10 p.m. — We discuss a few things about the wedding before bed such as photographers and videographers. We have already locked in the venue, the caterers, the DJ, the registrar and celebrant, so we’re making good progress.
11 p.m. — We get ready for bed, have cuddles and fall asleep.
Total: £5.65
9:30 a.m. — Another uneventful day at work closing out month end. My focus today is wrapping up accruals and prepayments. I review the numbers and make sure we recognise all costs correctly in the period they are incurred. For example, if we have had office supplies like milk or coffee delivered to the office but we haven’t received the invoice, we have to accrue for it and take the hit this month. On the other hand, if we have received an invoice for an annual subscription, this is a prepayment as we have paid those costs in advance (like an annual phone bill) and we can only recognise the portion that was incurred this month.
12 p.m. — Eat my leftover burrito bowl at my desk. F and I cook for four every night so that we always have lunch the next day.
1 p.m. — I have been having issues with pairing my AirPods for a few days now so I haven’t been able to do my Portuguese study at lunchtime. F was able to fix the issue for me so I go to the park to do my 10,000 steps and listen to three-minute Portuguese lessons on Spotify.
2:30 p.m. — Continue with the accruals and prepayments for the rest of the afternoon and there’s so many cost accounts, I wonder if I will ever finish. I love it when I see the time is past 5 p.m. and I know I don’t have long to go.
5:30 p.m. — F is working from home today so will cook dinner tonight. On the menu is a Portuguese chicken soup. F picks up a few ingredients and my share is £5.50.
7 p.m. — Dinnertime and I am starving. I am so happy when I walk through the door and F has dinner ready. I spend £10.20 on TfL for the day.
8 p.m. — We decide to have the TV off during dinner tonight and just catch up. This year has flown by. We also have a few busy weekends coming up with birthdays, C and N are coming back with their doggie in a few weeks, and F’s sister and niece are coming over from Portugal just before Christmas to do Winter Wonderland and the Christmas markets.
11 p.m. — Bedtime!
Total £15.70
8 a.m. — Another day in the office means another early wake-up. I know I shouldn’t complain as 8 a.m. is actually not that early. I get ready for work and am out the door by 8.45 a.m. I spend £10.20 on travel for a return to the office.
9:45 a.m. — I start the day reviewing the profit and loss and balance sheets and making sure all items have been posted to the correct accounts. I don’t mind this task as I always learn something new and things start to click. I started this job at the end of April so I am still new and still learning the ropes.
1 p.m. — Lunchtime and it’s leftover Portuguese chicken soup. I then set out for my lunchtime walk around the park and fit in a couple of Portuguese lessons on Spotify. These lessons are really helping me improve my language skills.
2:30 p.m. — I spend the rest of the afternoon finishing off the balance sheet reconciliations (we have three active companies and I have to do them for the three companies), and start on the management accounts. In between, I have mindless chats with my colleague about The Real Housewives of New Jersey, snacks, calories and, my favourite, fried chicken.
7 p.m. — Get home and F has made a risotto with chicken and some Portuguese sausage that we brought back from Portugal a few weeks ago. We were there to visit wedding venues, spend time with his family and enjoy the European sun. F has been working from home this week (and was off on Tuesday) so he has been cooking. He usually cooks Monday-Wednesday, I cook Thursday-Saturday and we cook together on Sunday or treat ourselves to Uber Eats. When he cooks, I do the dishes and vice versa.
8 p.m. — We have dinner and watch the movie Chef. I think I may have seen it years ago but don’t mind watching it again as I don’t remember much but I remember I enjoyed it. We usually like to wind down at dinner with a movie or TV show and then spend the night chatting and discussing our day.
9 p.m. — F is a graphic designer and is building his own website/platform so he does that for a few hours before bed and I do more research for the wedding.
11 p.m. — Get ready for bed and scroll for an hour before putting my phone away. My sister is moving to London to live for a few years, just like I did a few years ago. I message her about what she has left to organise in terms of life admin before she gets on that plane and has the time of her life.
Total: £10.20
9:30 a.m. — Last office day this week! Work as usual, putting the management accounts together for the board. Nothing too difficult but nothing fun either haha. It pays the bills.
1:30 p.m. — Have my leftover sausage risotto for lunch and then go to the park for my lunchtime walk and Portuguese study. I’m approached by a nice lady telling me to put my phone away as she has seen some phone snatchings at the park this week by teenagers on bikes. She said when she called out to warn me, she saw a boy on a bike coming up behind me. I think I got lucky this time as he did get really close!
2 p.m. — Meet my colleague at the park to go to a gym tour together. It’s a modern, clean and spacious gym. We’re signing up tomorrow. Membership will be £58.25 per month.
2:30 p.m. — Spend the next few hours until home time testing the functions in the testing environment before the migration. It’s good to get a large chunk out of the way as it has been on my to-do list for the last three weeks. We also have a call with the company doing the migration on Monday so I want to be able to tell them we have made really good progress.
6:30 p.m. — Pick up ingredients for dinner on my way home. We are making a tomato and basil soup. I also pick up berries for breakfast and treat us to a cheeky tiramisu, F’s favourite dessert. My share comes to £4.85.
7 p.m. — Head home, £10.95 for today’s TfL charge.
7:30 p.m. — We chill on the couch, have dinner and start Griselda on Netflix. I’m not one for bloody shows and movies so I squirm a little. F’s mum also rings and we speak to her. She’s in sunny Portugal eating an ice cream, while I am sitting here in my thick turtleneck. It is supposed to be two degrees overnight!
8:30 p.m. — I wash up and F makes the overnight oats. We then get out our laptops and chequebooks (theoretically speaking) and lock in the videographer and photographer for the wedding by paying a deposit of £250 each. We decide to book the photo booth a bit later (after payday) and I spend the next two hours trying to decide which makeup artist I want to book. I am wanting a natural look on the big day as I don’t normally wear makeup.
11 p.m. — Cuddles and fall asleep.
Total: £265.80
“This week is fairly reflective of my spending, apart from the weekend playing tour guide and the wedding deposits. On a normal week, I usually spend on transport to get to and from work, groceries and once a fortnight, we buy lunch out or have Uber Eats for dinner. Although I like to be thrifty and save during the week, I tend to spend more on the weekends and I do have a fun pot with usually £200 a month to spend when I go out with friends and catch up over dinner and drinks. This usually happens twice a month. I had fun tracking my spending.”
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