Money Diary: An Operations Officer On 28k

This week: "I’m a 25-year old operations officer working at a social enterprise consultancy. I live with my boyfriend in Berkshire but I didn’t grow up here. I recently left the first job I got after graduating, working for a super fast-growing startup. It was very stressful and full-on, and eventually I couldn’t give 100% anymore, hence starting this new job. The new role affords me a lot more flexibility: I work from home 98% of the time and it’s a four-day week with core hours (although I did take an £8k pay cut). I did manage to negotiate a raise after my probation period to £32,000 so that has alleviated a bit of money stress but that is of course dependent on me passing probation.

We plan to buy a house sometime soon but as my partner doesn’t have a salary right now and with the market in the state it is in, we’re currently doing our best to save as much as we can. It’s also possible that we’d move abroad to mainland Europe (where my boyfriend is from) so nothing is set in stone at all."

Ed note: All prices converted to GBP and correct at time of publishing.

Occupation: Operations officer
Industry: Insurance
Age: 25
Location: Berkshire
Salary: £28,000 
Paycheque amount: I expect it to be somewhere around £1,800 (I’m yet to get my first one).
Number of housemates: One: my boyfriend, F.
Pronouns: She/her

Housing costs: £577.50 for my half of the rent (this includes all utilities other than council tax).
Loan payments: I pay my student loan back as part of my salary (unsure how much this will be yet).
Pension? I believe my new one is 5% with my employer giving 3%, as it was at my previous job. It’s currently sitting at around £4,500.
Savings? £10,000 in general savings, £600 in Monzo pots, £10,000 in a LISA (two years' worth of maxed out contributions plus government bonus), £7,000 in a Help to Buy ISA.
Utilities: Council tax is £69 for my share.
All other monthly payments: £7.90 SIM-only phone plan. Annually I pay £137 car insurance, £90 car tax, £35 contents insurance. Subscriptions: £2.65 Smol laundry tablets, £11 TOTM period products.

Yes, I went to university in the UK and did a four-year BA. I had loans for both tuition and maintenance via Student Finance England. I also had a savings account which was opened when I was born, so I had a nice cushion there for day-to-day spending.

I have always worried about money, though I’ve not really had reason to. I went to a private school but my mum worked there and therefore got heavily discounted fees. I definitely wasn't in the same financial situation as most of my peers. We were comfortable and went on holiday most years, though I remember my parents being more cautious after 2008. We’ve never really talked about finances but I’ve been a saver for as long as I can remember. 

I moved out for good at 22, right after I graduated university. I did a year abroad in Europe as part of my degree programme but once that was over I came back during holidays for my final year. I graduated in 2020 so I also spent half of my final year living with my parents.

I would say when I moved out to live with my boyfriend after graduation as I paid the rent from the get-go.

I was a waitress at an Italian chain restaurant during college at 16. I got it because my mum thought it’d be a good idea for me to have some work experience and it was nice to earn some money. I loved it and kept working until halfway through my second year at uni. 

In the grand scheme of things I do but day to day I don't. I’m grateful that my boyfriend is very financially savvy and keeps up to date with the best savings accounts, switch offers and all that. I worry that I’m not saving enough, especially when it comes to my pension, but each month I have leftover money. I’ve only been in my overdraft once or twice. 

No.