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 28 year-old software developer living in Edinburgh. I moved here in 2023 for my current role, which was my first as a dev, after I finished up my master’s degree earlier that year. I really like my life in Edinburgh and hope to stay here for a while! With regards to money, I am probably a mixture of saver and spender. I don’t tend to feel guilty about spending money on small treats like a coffee here and there, a meal out, or a holiday with my friends, but after being a perpetual student for so long my habits in other areas are more stingy (I cook for myself a lot, I buy most of my clothes at charity shops, I don’t have a car)”.
Occupation: Software developer
Industry: Technology & Telecommunications
Age: 28
Location: Edinburgh
Salary: £37,852
Paycheque Amount: £2,353
Number of housemates: One
Pronouns: They/Them
Monthly Expenses
Housing costs: £650 rent.
Loan payments: £70 student loan.
Savings?: £2,736.41 in a LISA, £1,000
high-interest savings account, approximately £3,150 easy access savings, approximately £1,800 investments.
Pension? I have a company pension, my contributions and my employers’ matched contribution combine to a total of 9% of my monthly salary. I am aiming to increase my contributions in the near- to mid-term as I currently don’t have a lot saved.
Utilities: £83 council tax and water, £51 energy, £10.50 broadband. This is my half of a 50/50 arrangement with my flatmate K.
All other monthly payments? £8 phone bill, £15 charity/cultural donations, £22 beauty, £10 art classes. Subscriptions: £1 Spotify currently as it was on offer.
Did you participate in any form of higher education? If yes, how did you pay for it?
Yes, I did an undergraduate degree and a master’s. My undergraduate degree, at an English university, was paid for with a UK government loan, support from my parents for living expenses and a hodge-podge variety of scholarships, stipends and holiday and freelance jobs. For my postgraduate degree, I was fortunate enough to get a full studentship which was enough to fully cover my fees and living expenses.
Growing up, what kind of conversations did you have about money?
I only remember having a handful of conversations about money with them during my childhood, and when they had money worries, for example around redundancy and underemployment, they largely shielded us from the anxiety. When it came to career advice, both of my parents had a “follow your passion, not your pension” ethos. They encouraged me to do a master’s in a subject I loved, and when I eventually decided to leave academia none of the pressure to make that decision came from them.
If you have, when did you move out of your parents/guardians house?
I moved out when I was 18 and going to uni. However, I moved back in with my parents for a few months during lockdown and also in between finishing my master’s and starting my current job.
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?
I was lucky to be able to gradually phase into financial responsibility. I lived overseas during part of my undergraduate and that definitely helped build my independence. By the time I took on my first full-time job after graduating, it felt more like a step up rather than a jump off the deep end. I’ve been financially responsible for myself since I was 23.
What was your first job and why did you get it?
My first job was washing dishes at a nearby restaurant that hosted big Christmas parties, because I wanted some money for Christmas presents. It was a local family business and they paid me cash in hand.
Do you worry about money now?
Yes. Although I’m fine for day-to-day expenses, I worry that I am financially “behind” other people my age, because I spent most of my early and mid-20s as a perpetual student. I don’t regret my decisions, but I do think I was quite naïve to the opportunity cost of spending so long in full-time education. I really feel my lack of savings compared to people my age who have been working and building their financial wellbeing diligently for years. I try to be relatively frugal in my day-to-day spending, which is an effort to make up for lost time.
Do you or have you ever received passive or inherited income?
No.
7 a.m. — Wake up and buy a train ticket to work, £11.20. I am lucky I can work hybrid, so I only need to go into work two days a week. Spend half an hour getting ready, 20 minutes journaling, then out the door to the station.
8:30 a.m. — The highlight of my working day: a bacon roll and a coffee. I am always so hyped to have, £2.15.
12 p.m. — A small hot meal is provided free at my office, so I get that plus a side of soup (carrot and coriander), £0.65.
3 p.m. — I want to get a cereal bar but I decide to refrain from temptation and get a free apple instead.
6:30 p.m. — Arrive home. Dinner is using up odds and ends from the cupboard, so I make a creamy salmon pasta sauce with frozen spinach. I will need to do a proper grocery shop when my friend arrives for a visit this weekend, so I’m trying to subsist on tinned, dried and frozen stuff until then. Eat some jam and crumpets I bought on clearance.
8 p.m. — Quiet night in; finished reading Conclave (sent to me by my sister). I saw the movie and thought it was great so I’m reading the book too.
Total: £14
7:45 a.m. — Muesli, banana and black coffee for breakfast.
9 a.m. — Working from home all day today. I have a meeting with my manager to go over my personal goals for the year; I’ve been doing the job for long enough now that I can start to specialise a bit rather than just running to stand still, which is nice.
12:30 p.m. — Go on a jog at lunch time because the weather is nice and there’s meant to be a storm later this week so I want to get outdoors while I can.
1:30 p.m. — I eat the leftover salmon pasta and two more of the crumpets.
3 p.m. — One of the best things about working from home: being able to get caught up on your laundry in quiet moments (you know you’re getting old when this brings you genuine joy).
5 p.m. — I get the tram into the city centre (you can get a discounted multibuy ticket) to go to my volunteering at an after school club for local kids. I learn a lot about Roblox, £3.
8 p.m. — For dinner, I eat some fancy M&S hummus and garlic flatbreads that I bought with a voucher I got when I returned a defective product (it was a £7.99 top that shed sequins like dandruff). Result!
Total: £3
8 a.m. — Groundhog day, starting with my train journey into work, £11.20.
8:30 a.m. — Bacon roll which I wolf down, £1.75. The weather was cold but clear, so I’m feeling energised for the day ahead.
11 a.m. — Grab a midmorning coffee to catch up with a work friend who’s recently come back from holiday, £1.30.
12 p.m. — Free chicken curry and a cereal bar for lunch, £1. Some people eat at their desks so that they can go home earlier, but I think it’s nice to take a proper break and have a chat to my coworkers.
3:30 p.m. — I am getting distracted from work watching the news, and it’s so depressing that I end up impulse buying a lemon and poppy seed muffin to cheer me up, £1.23.
6 p.m. — Home again, and make some sausage, spinach and tomato pasta — still using up leftover bits and bobs from the freezer and tins.
8 p.m. — Exciting discovery of marshmallows at the back of cupboard: I toast them over the gas stove and pop them on hot chocolate while I listen to Nobody Panic, a comedy podcast masquerading as a self-help show. I wonder if I have a parasocial relationship with the hosts. Decide there’s probably more pressing things to worry about.
9 p.m. — Do some very unglamorous stretching because I feel stiff after my run yesterday. I really recommend this guy called Hybrid Calisthenics on YouTube/and TikTok, he has some good routines you can follow along with and he’s funny as well, although maybe you don’t want to be laughing while attempting bridge pose.
Total: £16.48
7:30 a.m. — Have a banana and a black coffee, while I catch up on non-work emails. Missing my bacon rolls but I have to draw the line somewhere.
8 a.m. — Working from home. Resolve to try journaling more so my days don’t pass by in a blur.
12 p.m. — Make myself a cheese toastie and check the weather forecast. Heart sinks with the barometer: the storm is going to do a number on us and all the trains have been cancelled, including my friend’s, who was meant to visit me this weekend.
5 p.m. — Get the tram to and from the city to meet my friend, £3. On the way, we all get a red alert about the impending storm and everyone’s phones go off at once. Feels very dramatic.
6 p.m. — Go to Wetherspoons for a few pints with a friend. The topic of house-buying comes up (we both rent in different parts of the city). My friend, who’s over 50, has told me about how it’s nearly impossible to get a mortgage at his age and we commiserate, setting the world to rights over a pint (or three) and some chips. Somewhere, a journalist on a deadline is probably writing a column about how if only renters would stop going to Wetherspoons on a Thursday night, they’d be able to afford a deposit within a year. The food and drink comes to £14.
9:30 p.m. — I’m still hungry so I grab a Burger King after the pub. Expensive for a weeknight out but the storm is wiping out all my weekend plans so I decide it’s okay this once, £4.99.
9:55 p.m. — Drop by the supermarket on the way home to pick up some bananas and salad veg, £1.56. When I get home I have a hot chocolate and watch a video essay on YouTube.
Total: £23.55
8 a.m. — They were not fucking around with this storm. I don’t leave the house all day, because the wind is howling around so fiercely. Rain lashes the windows. I brew some coffee and try putting on Bon Iver to make it an #aesthetic moment, but unfortunately it’s just stressful.
12 p.m. — The gusts against my windows are so strong I swear I see the glass flex and bend inwards. I’m lucky: nothing is damaged and my power stays on all day, so no excuse to bunk off working from home.
6 p.m. — I make dinner and call the friend who was supposed to be visiting. It’s nice to catch up, but obviously not quite the same.
9 p.m. — I read Carmilla (obtained for free at a friend’s book exchange), the vampire novel that supposedly inspired Bram Stoker’s Dracula. Feels perfect for a dark and stormy night.
Total: £0
10 a.m. — I make myself breakfast, listen to some music and do some journaling. Take advantage of the unexpectedly free weekend to have a slow Saturday morning. I call another friend who lives in a different time zone and we have a nice catch up and a gossip.
11 a.m. — The worst of the weather has passed, so I venture out to run some errands. I go to the library first to print some documents. The price for printing there is exorbitant and it almost makes me feel like it’d be worth investing in my own printer, £2.10. Once again, the Sam Vimes’ boots theory of socioeconomic exploitation applies.
1 p.m. — I pick up some foreign currency for my upcoming trip, £301.32. As I go on my errands around town, I notice several fences and trees blown down by the storm and feel extra lucky my flat escaped unscathed.
3 p.m. — I drop by Tesco for some groceries: fresh fruit and veggies, rice, noodles, soy sauce, chorizo, eggs, and a bag of chocolate cookies as a treat. I’d like to take this opportunity to shame Tesco — and probably most of the other big supermarkets, in the spirit of fairness — for the way that they’ve been craftily putting less and less food into the same size packaging, to the point that it’s almost comically obvious when you pick something up. Like, why are my groceries wearing attire three sizes too big? I very much doubt they’ll grow into them, £16.30.
8 p.m. — Have some hot chocolate with some whisky gifted to me and attempt to write a poem about the storm.
Total: £319.72
11 a.m. — After breakfast, I go for a long run, up to the Firth of Forth and back. I normally buy myself some kind of small treat as a reward, like a fancy hot chocolate, but today, in the spirit of economising, I hold out for a cookie and a cup of tea on my return home. I had to clamber over a fallen tree to get to my destination, so I think I’ve earned it!
3 p.m. — Have a late lunch with my flatmate; just a cheese and tomato toastie. Do some tidying up around the house, watering of my plants and planning for my upcoming trip.
7 p.m. — Dinner: chorizo, olive and tomato pasta and a nice salad. I make enough for tomorrow’s dinner, when I have a date coming over.
9 p.m. — Watch some Netflix (courtesy of my sister, thank you!) and decide to have an early night before Monday. Writing up my diary for the week, especially the evenings, I begin to realise that it’s quite — no, make that very — boring. I guess I could make the excuse that I’m especially dull this week because it’s towards the end of the month and everyone’s trying to economise. But honestly, I find myself appreciating the quiet nights in; I think there’s something really nice about being able to just spend time in your own company once in a while!
Total: £0
Food & Drink: £44.93
Entertainment: £0
Home & Health: £0
Clothes & Beauty: £0
Transportation: £28.40
Other: £303.42
Total: £376.75
Conclusion
“This week, I worry, makes me look like a success story from MoneySavingExpert. Apart from the getting money for my upcoming holiday, this was an unusually frugal week for me. I was eating more leftovers and spending less money on socialising because it was the end of the month and I was conserving my budget for going out with my friend which got cancelled. Normally I would spend a bit more than I did this week on eating out and other small luxuries! Probably the fact that I was tracking everything for the Money Diary helped me to spend less too, as it made me think twice about every purchase. Interestingly, though, I really didn’t feel like it was that hard on me. I was pretty happy to have a few more nights in and home-cooked meals, which makes me think that I can probably get away with spending a bit less day-to-day than I do currently. I think in the future I’ll probably try to be a bit mindful about where my money goes and planning and budgeting so that I get to the end of the month not worrying about what I’ve spent. I saw another diarist uses Monzo pots for this so I’m definitely going to give that a try!”.
Like what you see? How about some more R29 goodness, right here?
Money Diary: A PR Agency Owner On £50,000
Money Diary: A Part-Time Estate Agent On £22,500
Money Diary: A Financial Advisor On £50,000
