Money Diary: A Part-Time Data Analyst On 19.5k

This week: "I’m a 27-year-old data analyst living in the East Midlands. Until earlier this year I was doing a PhD, which I left because of the impact it was having on my mental health. It was a difficult decision to quit but now I’ve done it I’m so much happier as I have a work/life balance and an actual salary. I’ve been temping at a charity for the last few months and next week I will start a permanent role at a different charity. I have several chronic illnesses so I’m currently working part-time, although I’m hoping to increase my hours a bit in my new role. I moved in with my partner at the start of this year, which is the first time I’ve lived with someone. We’re still getting used to managing household bills, especially as we are both changing jobs at the moment. I’ve been very privileged with money from my parents, especially during significant health challenges, and I try to save as much as I can as well as donating to charity, but I’m definitely prone to impulse and emotional spending."

Occupation: Data analyst
Industry: Charity sector
Age: 27
Location: East Midlands
Salary: £32,600 pro rata for three days a week = £19,560
Paycheque amount: £1,335
Number of housemates: One human (my partner, M) and one cat.
Pronouns: She/her

Monthly Expenses
 
Housing costs: £625. We work this out as me paying £275 to M to cover some of the rent as well as petrol and food shopping (which he buys most of). I then pay £350 for our bills.
Loan payments: None at the moment because I’m below the student loan repayment threshold.
Savings? I have about £5,000 in an emergency fund, which is about four months of expenses. £10,000 in a LISA – I only got a job this year so I started putting away some of my PhD stipend to make up for not having a pension. £16,000 which will be used for a house deposit.
Pension? I pay 3% and my employer pays 6%.
Utilities: £120 electric and gas, £120 council tax, £28 internet, £20 water plus annual bills such as contents insurance and TV licence.
All other monthly payments: £6.80 phone. Subscriptions: £3.45 a week for (oat) milk delivery. £10.81 NHS prescription prepayment certificate (I take a lot of medication so this works out cheaper than paying for each prescription). £22 charity donation to Women for Women and £5 to Ecologi. £8 Patreon to support two YouTube creators. 

I did an undergraduate degree in psychology, which I funded through student loans and parent support, then an MSc which I funded through student loans and a university scholarship. I then spent four years working towards a PhD, which I funded through a university studentship (for part-time hours) and student loans. I eventually left my PhD earlier this year because of the impact it was having on my mental health. While this was a really difficult decision to make, it was definitely the right one and I am much happier now. I have approximately £90,000 in student loan debt, however I don't earn enough to be paying this off yet. 
 
Growing up, what kind of conversations did you have about money?

We were very comfortable, my dad had a very good job and my mum worked part-time to take care of me. Despite us living comfortably, money was always a source of anxiety for my parents as they were always trying to save money and would judge people for spending. Both my parents are accountants so they taught me all about budgeting, saving and so on but not about things like bank accounts and mortgages. I’ve had a budget spreadsheet since I was 14, which my friends liked to laugh about but are now quite jealous of because it’s such a habit. 
 
If you have, when did you move out of your parents'/guardians' house?

When I started my MSc, aged 21.
 
At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life?

My parents supported me while I was in education. Since I left my PhD earlier this year, I’m now responsible for myself.
 
What was your first job and why did you get it?

Teaching ballet at my ballet studio, first in return for free lessons and then paid £5/hour. I was at my ballet studio all the time anyway so it was a great job.
 
Do you worry about money now?

I’m in a financially secure position with good amounts of savings but I still worry about my spending. I have chronic health challenges and I’m very aware that at any time my health could deteriorate and I’d be unable to work so I’m always trying to build myself a bigger safety net to cover that. A lot of my worry is also just my general anxiety. I’m autistic and find it hard not being in control so things like rising bills, even though I know I have the financial means to pay for them, cause me a lot of stress and uncertainty. 
 
Do you or have you ever received passive or inherited income?

My parents bought a flat for me in another city, for which I'm eternally grateful. I have significant health issues and the flat gave me a safety net when I had to cut my hours during my PhD, which reduced my income to half the local monthly rent. I received £15,000 in inheritance from my grandad about six years ago, which has since gained interest in a locked savings account. While I was studying my parents also gave me £3,000 a year. Because I wasn't getting a workplace pension I invested this in a stocks and shares LISA to prepare for my retirement.