Welcome to Money Diaries, where we're tackling what might be the last taboo facing modern working women: money. We're asking a cross-section of women how they spend their hard-earned money during a seven-day period – and we're tracking every last penny.
This week we're with a final-year PhD student who left a well-paid sales job in London to head back into full-time education. She lives with her parents and manages to save most of her money, which enables her to live off her £14,500 yearly grant. Anticipating an expensive few months ahead while she and her boyfriend buy a house, she is trying to be very sensible with money.
Industry: University/ Education
Age: 29
Location: Gloucestershire
Salary: My income is a bit of a weird one… As a PhD student, I have a bursary to live on. I receive around £14,700 per year, tax-free, which works out as the equivalent of someone earning around £22,000 (and paying tax, NI, student loan, etc.), I think.
Paycheque amount per month: I am paid quarterly (shock horror!); each payment is around £3,676.50, which works out at about £1,223 per month.
Number of housemates: I currently split my time between living at home with my parents and spending time at my boyfriend's house-share of 3.
Monthly Expenses
Housing costs: £0. I am incredibly lucky that while I am studying my parents are happy for me to live at home, rent-free. The other half of my time I spend at my boyfriend’s house, where I am also lucky enough not to have to pay rent (although I do like to contribute here and there to bills/ milk/ tea/ biscuits/ beer fund, to keep everyone happy).
Loan payments: £150. I have a credit card but I use it sparingly. I only really like to spend what I know I can afford to pay off in full at the end of the month.
Utilities: £50 (token payments to boyfriend and parents each month).
Transportation: £250. This one is a bit of a killer. It is amazing that I am able to live at home rent-free but this does mean I have to travel to uni – a 100-mile round trip! Luckily, I only need to go in around twice a week on average, but it does mean my biggest outgoing is petrol.
Phone bill: £34.50
Savings: I try and put away at least a few hundred pounds each month, although as the house purchase has been getting nearer, I have been putting away as much as I can physically afford – usually around £400 per month.
Total: £884.50
Day One
6.30am: Wake up, quick cup of tea.
8am: Homemade coffee and a bowl of Special K Red Berries for breakfast.
11am: After working for a little bit, I need a break and a cup of tea and a pick-me-up. I dig out a little KitKat from the cupboard.
1pm: Lunchtime. I have a bowl of chicken soup (we are pretty good at bulk-buying/ making decent freezable meals; as I do quite a lot of work from home, this means I can, in general, eat quite well and cheaply) and a roll.
4pm: I have to pop out and get stamps for some paperwork I have to send to my solicitor in relation to house-buying. One book of six costs £3.84. While I am out I fill up my car with petrol, which costs £36, and pop into Sainsbury’s to find something for tea (it's my turn to cook for the family). I luck out and get some stir fry veg and chicken breasts from the reduced section – £4 for both. We have noodles and other bits at home. Most of the time I have free rein to eat/ cook with stuff from my parents' weekly shop but I like to buy ingredients and cook now and again, otherwise it’s a bit too much like being a child living at home again.
Day Two
7am: Wake up, have a quick cup of tea and two slices of toast.
10am: I am working from home today but meet a friend (another PhD student) at Costa to discuss some big deadlines we both have coming up. Have a large skinny latte. £2.45
11.30am: On my way back, realise I have nothing in the house for lunch so pop into Boots and grab a meal deal for £3.29.
6pm: Me and my boyfriend are off out to watch some comedy (tickets £30 each but booked months ago). As our anniversary is coming up but we are poor from buying a house we decide to kill two birds with one stone and treat ourselves to a nice meal. We go for some yummy tapas and have one alcoholic drink each. I foot the bill of £45 as he bought the tickets. I also pay £3.10 for a lemonade and water in the interval.
Day Three
7am: Make a big travel mug of tea for my journey into uni. I also grab a banana and clementine as breakfast.
9.30am: I have a meeting at 10am and, as I have run out of teabags in my desk, purchase a pack of Twinings Raspberry and Cranberry from the on-site supermarket, £1.69. I also pick up a Kabuto noodle pot for lunch as I wasn’t organised enough to make something last night/ this morning (usually I try to bring something in). £1.99
6.30pm: We have a quick and easy dinner of chilli out of the freezer (which my boyfriend made last week), so luckily no expense needed.
Day Four
7am: Cup of tea and bowl of Special K Red Berries. I am working from home today so can have a bit of a cheaper day.
11am: Quick homemade coffee and a bag of popcorn as a snack.
1pm: Lunchtime. I have a bowl of tomato soup and a yoghurt.
5pm: I am going to an academic talk tonight so I pop to the supermarket and grab some salmon fillets, broccoli, spinach and a bag of new potatoes for a quick dinner beforehand. We also need bread and milk, £9.54. My boyfriend lives really near a supermarket so we tend not to do a weekly shop but rather pop out when we need bits – we find it stops us wasting stuff and we can always have what we fancy. I also need a card for a friend's birthday this weekend, £1.50.
Day Five
6.30am: Cup of tea, banana and yoghurt for breakfast.
8am: I have a circuits class this morning and have to pay for parking. £1.50
12.30pm: I have a portion of vegetable soup out of the freezer for lunch.
4pm: Finish early today. Go to the supermarket to pick up supplies for the weekend. This includes food essentials – bread, eggs, fruit, veg – and a dine-in meal (starter, main, dessert and bottle of wine for £10; we'll have just the main and dessert tonight). I also need a few basic toiletries: moisturiser, shampoo, conditioner. I am not fussy so get Pantene as it is on offer. Total shop comes to £23.65.
6.30pm: It's Friday night and we go out for drinks for a friend’s birthday. It's in a local pub that does good half-price drinks during happy hour (which lasts two hours, yay!). I spend £18 on two rounds of drinks for me, my boyfriend and the birthday girl.
8pm: Since we’re poor and trying to be good, we head home early for dinner and cook from the bits we bought earlier in the day.
Day Six
8am: Saturday morning so have a bit of a lie-in. Treat ourselves to scrambled egg on toast for breakfast with ingredients from yesterday's shop.
1.30pm: Lunch. We have the prawn cocktail starter from Friday's dine-in deal, plus some avocado.
4pm: Having thrown away my last pair of sensible flat black boots, I am in desperate need of a new pair. Find a pair in the sale for £15 – massive bargain.
6pm: My boyfriend decides to go all out and cook a full-on homemade salmon en croûte tonight, using some of the veg I bought on Friday. He goes and gets all the extra ingredients. We also have the wine from yesterday's dine-in.
Day Seven
8am: Sunday morning. Have a cup of tea and quick bowl of cereal. Today is a pretty boring day as I have a huge number of deadlines coming up with my PhD so am mostly staying in and writing.
11am: Spoilt by free access to my parents' coffee machine so it’s a latte and packet of Snack a Jacks.
3pm: I am off on a work course tomorrow, so top up my car ready for the drive, £32. I grab a wrap from the garage for a very late lunch as I am staying with a friend tonight who lives near the course venue. £2.50
7pm: Super lucky that my friend treats me to a yummy home-cooked steak dinner (I’ll return the favour when she next visits). My small contribution is a pint of milk, as she’s run out! £0.59
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