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Refinery29
7 hours ago
- Business
- Refinery29
Money Diary: A Head of Strategy On £112,000
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. Our Money Diaries submission process has changed. If you would like to submit a diary, please use our new form here. This week:"I'm a 32-year-old professional working in Strategy & Transformation in the telecommunications industry, living in Greater Manchester. I moved to the Manchester area post-university and bought the house we live in now with my husband A, three years ago (selling the house we bought together when I was 25). He's 10 years older than me and also works in telecoms (spoiler: we met at work) but we no longer work at the same company. A has two teenagers from a previous relationship, who come to stay with us one night each week and every other weekend. I've worked for my current employer for six years and in that time, I've pretty much doubled my overall compensation package through a series of promotions and sideways moves to different departments. Also, in this time my employer generously supported my studying for an MBA which I completed at the end of 2023, so that has probably helped my career prospects too. When it comes to money, I would say I'm more of a saver than a spender, though when I do buy things I tend to buy decent quality. I'm quite low maintenance from a beauty perspective — no nails, lashes, tans, but last year when I was getting married and I spent a couple of hundred quid on nice Charlotte Tilbury makeup and splurged on some nice skincare at the start of the year.' Occupation: Head of Strategy Industry: Telecommunications Age: 32 Location: Greater Manchester Salary: £112k, with a £7k car allowance and a 25% bonus and a Long Term Incentive Plan (not vested yet). Paycheque Amount: £6,000 Number of housemates: Two — my husband A and dog Eddie (with two more, my stepkids M and J on a part-time basis). Pronouns: She/her Monthly Expenses Housing costs: £2,265 between the two of us, which includes a £500 overpayment each month. We're on a fixed deal until January 2027. Loan payments: £0 Savings?: £29k Cash ISA, 2.5k Stocks and Shares ISA (pay in £250 monthly), £9.5k LISA (pay in £333 monthly to maximise £4k allowance), £6k Premium Bonds (adding £500 monthly), £6k joint savings for renovation (I put in £500 monthly, A pays in £100), £180 fun fund (we each pay in £50). I tend to top up the Cash ISA with any savings left from the end of the month. Pension? In various pots across my current and previous employers, I have about £130k. I contribute 10% and my employer matches that (the maximum they will match). I'm considering upping my contribution in the future for tax efficiency. Utilities: Jointly we pay £245 council tax, £235 gas and electric, £54 water, £64 pet insurance, £59 internet and TV, £29 life insurance, £29 home insurance, £15 TV license, £5.99 Netflix, £6.67 Amazon, £24 window cleaning, £11 Smol. I calculate our monthly expenditure on mortgage, joint savings, utilities, and groceries, regular payments e.g. dog walker, cleaning and we pay that into our joint account each month, in proportion to our earnings. All other monthly payments: £85 CrossFit, £60 gym and pool membership, £22.72 phone and £18 iPad, £0.99 iCloud storage, £50 regular donations to charity, £18 contact lenses, £16 Toastmasters. Subscriptions: £8.99 Apple TV, £4.95 local newspaper, £10 The Guardian, £7.99 Audible, £14.99 Spotify Duo. Did you participate in any form of higher education? If yes, how did you pay for it? I did my undergraduate straight from school, funded by the standard mix of loans and grants. I went to Oxford and at the time (and probably still now) there were grants available to me which reduced the amount of maintenance loan I had to borrow. I was also lucky to be one of the last cohorts paying £3k a year in tuition fees. My parents separated when I was a child and my dad started giving me the money he had given to my mum when I was growing up which I think was about £200 a month, which also really helped. In 2021, I started an MBA which was 75% funded by my employer, 25% funded by myself from savings, which I completed after a tough three years of part-time study on top of a full-time job. Growing up, what kind of conversations did you have about money? As a young child, I don't remember going without, but neither were we flush with cash. We went camping rather than abroad for holidays, but my sister and I did all the hobbies and activities we wanted to. My parents divorced when I was around 9 or 10 and I learned much later that one of the many contributing factors to the end of their marriage was that when my dad was made redundant, he stopped paying the mortgage but didn't tell my mum. A few years later, my mum started a relationship with my stepdad, who was very comfortable and we moved in with him (and my mum stopped working). From that point on, I was very privileged in travelling to nice places and given a generous pocket money allowance. Reflecting on this later, I watched my mum lose her financial independence and I think this rubbed off on me — I always wanted to be able to pay my way and choose how to spend my money. If you have, when did you move out of your parents/guardians house? I went away to university at 18, but came home for holidays. I moved out properly when I was 22 when I started a graduate scheme after my final year of uni. At what age did you become financially responsible for yourself? Does anyone else cover any aspects of your financial life? 22. I moved out into a flat on my own for my grad scheme job. Two years later, I moved in with my boyfriend (now husband) into his house, which he sold and we bought a house together when I was 25. By not paying rent to him for his mortgage (but splitting bills only) in that year I lived at his house, I was able to save for my contribution to the deposit. His contribution to the deposit on that first house was greater, so I like to think now I pay more, we're evening the score. What was your first job and why did you get it? When I was 16 I got a job at my local Starbucks — they were opening a branch in my town and were hiring loads of people. I was lucky to get a sweet eight-hour-a-week contract. I worked there until I went to university. I loved it — I didn't really spend much when I was that age, so the savings I had gave me a nice bit of buffer when I went to uni. Do you worry about money now? Yes and no. I mean I worry about a lot of things, but I'm super conscious that when we bought the house we live in now three years ago, we took all the equity out we could from the previous sale to fund extensive renovation work. Consequently, we have a massive mortgage, with about 27 years on the term. We still have renovations we want to finish on the house, mostly the garden, where the work required is not stuff we have the skills or time to complete. I am aware that I am earning extremely well (honestly, so much more than I ever expected). But I can't relax about it! Do you or have you ever received passive or inherited income? When I was about 23/24, my mum found an old savings account she'd set up when I was a baby, and there was a couple of thousand pounds in there which went in the house deposit fund. My parents and A's parents each gave us £1k as a wedding gift last year, which essentially funded a free bar at our reception. Day One 5:45 a.m. — Wake up before my alarm. Check the Premium Bonds prize checker app to see if I've won… I've not. I won £100 in February, but overall in the last year I've had a rubbish run of winnings. 6 a.m. — Go to the pool for a swim, get two kilometes done. Remember why I prefer swimming in the evening, which is not an option today, as it's always busier first thing in the morning. 8 a.m. — After showering, sticking a load of laundry on and putting the dishwasher on, I have a bowl of porridge. I also have the first of many cups of tea today, reading my book (We Are All Birds of Ugand a by Hafsa Zayyan). 8:30 a.m. — I log on to my work laptop. I mostly work from home, aside from when I have specific meetings. This week I've avoided having to travel to London, which I've had to do for a couple of days the last two weeks. Work covers my travel expenses and will put me up in a hotel, but being away from home is exhausting and I miss my husband and my doggo. 10 a.m. — I conduct a couple of interviews for a new role within my team. I am pretty pleased with the quality of the candidates, which is great as a couple of weeks ago I interviewed someone for a role and it was obvious within the first five minutes they weren't a fit, but I still had to progress with the whole interview. Only slight awkward moment was our dog walker arriving in the middle of one interview to pick up E for his weekly group dog walk. We have this booked in each week to cover travel but we leave it in even when I'm at home, as he loves it for the doggy socialising. I pay £13 for next week's walk now from the joint account. 12:30 p.m. — Break for lunch, hang the washing out on the line in the beautiful sunshine and make a halloumi, avocado and rocket wrap. I order a new shed from B&Q as we're getting some garden work done in a few weeks' time and the landscaper has agreed to assemble it for us, £331. I pay for this for now, but add it to the tab for all the garden spending which we'll settle between us when it's all done. 5:30 p.m. — We have the kids tonight and it's J's birthday today so when they get home from school, we open presents. 6 p.m. — After an afternoon of back-to-back calls on a random variety of projects, we set off to the Manchester City match as a birthday treat. A has bought all the tickets and we get a KFC drive-thru on the way as food choice at the stadium is poor. A pays. 7:30 p.m. — Finally get to our seats after terrible traffic and purchase brews and Haribo ready for kick off. A pays. 10:30 p.m. — Home and straight to bed after a rather stultifying match, but at least City won. Day Two 3:30 a.m. — Hear the dog barking, he wants to go out for a poo in the middle of the night, probably because we didn't take him out for his usual pre-bed walk round the block. 5:30 a.m. — Alarm goes off to get me up in time for my CrossFit class. Today's focus is upper body gymnastics, so lots of flailing around trying and failing to do muscle-ups, but I practise my one strict pull-up that I achieved a few weeks ago. 7:30 a.m. — Back from the class and decide to roast some rhubarb I have in the air fryer with a little sugar to pep up my yoghurt and granola. I see that the tomato seeds that I sowed on Sunday have germinated, which is very exciting to me. 9:30 a.m. — Spend most of my morning working through the FTE forecasting for our department for our long-range plan. This means looking at the next five to 10 years, seeing how it will change with some operating model changes we're planning. 12 p.m. — Take the dog for a walk in the sunshine, then eat some leftover soup and fresh bread that A made last night in the bread machine (game changer). 1 p.m. — I interview another candidate for a role. It becomes depressingly obvious that they haven't done even the most cursory of research on the company. For a senior strategy role this is a no go. 5:45 p.m. — After an afternoon of more project calls and debriefs on interviews, I warm up some leftover curry and rice. We have a strong Thursday night freezer meal routine, as let's be honest by this time in the week we're generally bored of cooking. 6:45 p.m. — Get the tram into Manchester for my public speaking club. Last year I started attending to develop my confidence in speaking, as I'd moved into a new role at work where this would be expected more of me. I pay £16 a month which I think is great value for the 2-3 evenings a month I attend. Tram is £4.90 for a return. 6:45 p.m. — Feeling a bit peckish and tired as I get into town, so I pick up a tea and chocolate chip cookie from Pret, £5.60. 10 p.m. — Hop on the tram home after a successful evening. I gave my prepared five-minute speech tonight, talking about my mum who likes to tell embarrassing stories about me. I win the vote for best speech, which is a first for me, so I'm well chuffed. Day Three 3:30 a.m. — Woke up in a panic, realising I hadn't changed my alarm to get up in time for my 6 a.m. gym class. 6 a.m. — Attend my third CrossFit class of the week, my kind of movements today with a heavy two rep squat clean where I get a PB. 8 a.m. — My calls for today start early. Catching up on a few things and see that one my team is doing a sponsored walk for charity, donate £50. 12 p.m. — Take the doggo for a windy walk and warm up some leftover chickpea soup from the freezer with a frozen paratha. 1 p.m. — My Friday afternoon is 1:1s with my team members, giving me food for thought about my proposed team structure. I've only been managing this team for a few months and I feel like I'm only scratching the surface. 5:30 p.m. — Get the tram into town to meet an old friend for dinner. We tend to meet up every couple of months for food and a catch-up. Tonight we go to Australasia, which was oddly quiet. I benefit from this by the waitress essentially offering me a free wine tasting so I can choose what wine I want. It comes to £4.90 for the tram and £52 for my half of dinner. 8:30 p.m. — Because we are old, rather than go on somewhere for more drinks, we go for a coffee afterwards at Haunt MCR (where have an even more middle-aged peppermint tea). My friend pays for the hot drinks, as I got the drinks last time. 9:30 p.m. — I head home on the tram not long afterwards, getting an Uber from the tram stop to home, £4.97. Day Four 8:30 a.m. — Wake up with no alarm, bliss. Enjoy a Saturday morning roll around with my husband. Afterwards, we go down for breakfast and do the weekly meal plan. We've been doing this for years now, as we do most of our fresh food shopping at our local covered market. It sounds a lot more bougie than it is — it's 80% old ladies coming in to buy a single slice of ham, but I love doing the shopping here rather than the supermarket. A goes this morning as he wants to nip into our local town to return something to a shop. £34 at the greengrocer, £27 at the butchers, £15 fishmongers, £12 deli. 10:30 a.m. — I walk the dog and do a few small jobs in the garden when I get back while the sun shines. 12 p.m. — Lunch of lasagne that I missed by being out for tea last night. A and I head over to a large garden centre where they have a greenhouse showroom. For my 30th birthday a few years back, my parents gave me £1k towards a greenhouse but we've only been able to afford to do the garden landscaping required this year after three years of house renovation. We wander round all the options and settle on a middle-range, beautiful greenhouse, which still feels extravagant. We get home, double-check the measurements and order online, £2,559 to be added to the garden reno tab, I pay. 5:30 p.m. — We're headed back to central Manchester tonight for a special family meal at Hawksmoor, an amazing steak place. My parents gave us vouchers for a meal and we decided to use it for a joint birthday celebration for J and A. We have sharing steaks and all the sides and it is delicious. I also enjoy spotting a few celebs there too (James Nesbitt). The total bill was £424 for the four of us, but with the vouchers comes down to £224. We have a 'fun fund' that A and I pay £50 each a month into, which we'll rinse to pay for this. Total: £2,871 Day Five 7 a.m. — Woke up naturally but feeling a bit anxious (wine with dinner?). Every month I do a goal reflection across different areas of my life: relationships, health, finances, and projects like my home, garden and allotment. They reflect on the prior month and set goals for the coming one. I do this with a brew and breakfast in bed this morning. 10:30 a.m. — I go to my group PT session with my gym friends. We've done this for the last couple of months and it's a really affordable way to get some more personalised coaching on things we're all working on like pull-ups, handstands and double unders. I have a breakthrough today with my first-ever headstand (I normally freak out a bit being upside down). I pay £45 for the three sessions we have planned. 12:30 p.m. — Come home to a roast chicken dinner lovingly prepared by A. Sit with a coffee for a bit before heading down to my allotment. I've had my plot for three years and I love it — it's about a five-minute drive from my house and I've spent a lot of time renovating the beds, putting new paths in and putting up a new shed. I spend about four hours here, as the weather is so lovely, building out beds, re-laying paving slabs for paths and planting out my seed potatoes. 6 p.m. — I log on to my work laptop for an hour or so to prepare for tomorrow and send an email to my manager about some reflections I have after my 1:1s on Friday afternoon. It's been on my mind all weekend so I feel better after setting it out in writing. 8 p.m. — A and I sit and finish off some cheese and crackers for tea, finishing off some pieces of lovely cheese we bought a couple of weeks ago. Perfect picky tea after a massive roast dinner earlier. 9:30 p.m. — Off to bed and read my book. Total: £45 Day Six 5:30 a.m. — Wake up for my gym class after tossing and turning, with work issues churning around my brain. I know this is as a result of logging on in the evening. Normally, if I weekend work, I try to do Sunday morning so at least I have the rest of the day to switch off! My class is okay, max height box jumps and a gross workout of medicine ball cleans. Some days you got it, some days you don't. 8 a.m. — Log on for my weekly planning session before the work week begins. 9 a.m. — Today's the day we communicate more broadly about the rollout of a project I've been working on for the last 12 months. Feels pretty momentous! Lots of large briefing calls and comms going out which is a bit nerve-wracking. 11:30 a.m. — Nip out to walk the dog in the sunshine as I've got a call at 12:30 p.m. Make a sandwich with leftover roast chicken and the lonely avocado that has been hanging about in the fridge for the last two weeks. 12 p.m. — Our cleaner arrives. Okay, it's completely a luxury, but A and I find that this is the way to save me having to constantly remind him when it was his turn to clean the bathrooms, which I hated. The house is spotless after a three hour clean, which we get fortnightly. I transfer £54. 2 p.m. — I Monzo my friend £40 for a wine tasting event she's booking us onto in a couple of weeks' time. 5:30 p.m. — A and I head down to the allotment so he can help me move the new shed into place, which he built last week. He picked up some guttering at B&Q for me this afternoon so we attach that and set up the water (but I already have to collect rainwater off the roof). The new shed is one of the final pieces of the puzzle for the allotment renovation I've been working on for pretty much the last two years so I am very excited. I transfer A £55 for the B&Q shop. 6:30 p.m. — Get home to find an unexpected parcel on the doorstep. It's a hamper from my manager as a thank you for my work on the project we were communicating about today, which is super nice. It includes a couple of bottles of wine and some snacky bits, which I stash for a future occasion. I cook some roasted vegetable pasta in the air fryer and enjoy a Becks Blue; the sunshine always makes me want a cold beer so this is a good substitute! 7:30 p.m. — Eat our tea on the sofa watching an episode of 1923 on Paramount as we have a free trial. We've binged all the Yellowstone series over the last few months! 9:30 p.m. — Head to bed to try and finish my book before sleep. Total: £149 Day Seven 5:30 a.m. — Wake up for my 6 a.m. class. It's bench press and upper body today. Feeling a bit weary — think I need to eat something before these classes! 8 a.m. — Sit with my porridge and cup of tea and start my new book. A asks me to transfer him my half of the holiday we're going on in June — we are headed for a week's all-inclusive to Marrakech. Send him £1,000. 8:30 a.m. — My morning starts by dialling into a customer meeting that my boss is attending in person in London. I feel slightly bad for a minute that I'm not there in person, but to be there for what ends up being a 70 minute meeting I would have had to stay over last night. 12 p.m. — As usual, walk the dog listening to a podcast. When I get back, I finish the rest of the chicken/avocado combo from yesterday and read Gardeners World. I think it's the nice weather and finally feeling like my allotment is in good shape, so I spend yet MORE money on garden stuff. I order asparagus crowns, raspberry canes, chilli and aubergine plants and a mystery veg plant selection. I promise myself that next spring when I have my greenhouse up and running, I'll be growing from seed, £76 including delivery. 5 p.m. — After an afternoon full of project calls, I leave my last call 10 minutes early to take the dog back for his checkup at the vet. A few weeks back, his recurring skin allergy issues flared up and he was on meds. Due to a significant error on our part a couple of years ago when we changed insurers, this condition is not covered by insurance. I'm working on how to resolve this, but for now I pay the £80 for the appointment and prescription fees (I will order his medication at an online pharmacy as it's much cheaper). 7 p.m. — Cook a delicious tofu and lemongrass larb with lettuce cups and sticky rice (the first time we've cooked this recipe and it's a definite do again). Call my parents for a catch up, then tootle off to bed with my book for an early night. The Breakdown Conclusion "Ouch! This was not a typical week in terms of expenditure, as I had a couple of unusual purchases that will be a once every 20 years kind of spend. I just received my annual bonus, which was pretty much on target for last year and we've been saving for our garden renovation for the last year or so. Likewise, this is the only holiday payment that I had left to make this year – the rest of our holiday travel and accommodation for 2025 breaks are already paid. Food and drink was a bit spendy, it's pretty rare I'd be out two nights on the trot but it's great to be able to celebrate special occasions with family. I enjoyed writing the diary, it does make me wonder if I should reclassify myself as a spender though!"
Metro
11-05-2025
- General
- Metro
Brits could save £868,000,000 a year with these kitchen cupboard cleaning swaps
A limescale remover here, an oven cleaner there, and before you know it, you've got a kitchen cupboard full of cleaning products gathering dust. As a nation, we're so addicted to throwing these chemical-heavy items in our trollies, that we waste almost £868 million a year on unused bottles. Brits collectively spend £2 billion – an average of £54.20 each – on household cleaning supplies, but according to research by Smol, half of it will go to waste. This amounts to an average of £22.30 worth of products sitting unused, with just 3.9 cleaning products being used on a regular basis, the study of 2,000 adults found. Want to clean up your act and save some pennies? Here are eight ways to clean your home using kitchen staples for less. To get rid of limescale build-up on bathroom and kitchen taps, look to lemons. Simply cut a fresh lemon in half and use your thumbs to gently open up the centre of one of the halves. Then press the lemon on to the end of the tap, wrapping a small plastic bag around it with a rubber band to hold it in place. Be sure that the rubber band is cinched tightly and that the lemon is around the end of the tap. Leave for a few hours to allow the citric acid to work its magic. After you remove the lemon, you may need to use a gentle scrubbing pad to wash off any loosened limescale build-up. Finally, wipe the tap with a damp cloth to remove any leftover lemon juice, and your taps will be squeaky clean. All you need for this hack is a bowl of warm water and a dishwasher tablet (or two) – just make sure that whichever brand you use, you buy the pressed powder tablets and not the gel pods. Simply dip the pod in the warm water and allow it to soak up some water, but don't leave it for so long that it starts to crumble. Now remove the tablet from the water and lay it flat against the oven door. Use your palm to move the tablet in a circular motion to scrub away the stains. If the tablet starts to dry out, dip it in the warm water again. This method works on glass and is also effective on the surrounding metal part of the oven door. When you're finished, wipe away any residue with a damp cloth. Combining cream of tartar, baking soda and hydrogen peroxide makes an excellent – and natural – solution for removing rust on metal surfaces, such as your kitchen knives. Simply put some cream of tartar in a bowl with equal parts baking soda, then add hydrogen peroxide, a little at a time, until you achieve a paste-like consistency. Rub this mixture over the rusty knife, let it sit for an hour, then wash in the sink. Burned food stuck to a saucepan can be a pain to remove, and scrubbing it could ruin the pan, so try using a dishwasher tablet to lift the residue. Simply fill your saucepan with water, pop a dishwasher tablet in, then place it over a medium heat and leave to simmer for 10 minutes. This will loosen the burned remnants so it's easy to wipe them off. Make sure to check the manufacturer's instructions for your saucepan before you do this, though, particularly if you have a non-stick saucepan, as you don't want to damage the coating. Is there anything more annoying than a newly stained plastic container? All it takes is some leftover Bolognese sauce, and then no matter how hard you scrub, that container seems destined to remain orange-red forever. But fear not – according to you can banish the stains from your plastic containers, and they will look as good as new in no time. Just add soap and warm water to the tub, toss in a few pieces of torn-up kitchen roll, pop the lid on and give it a good shake for about a minute. Empty the contents, rinse the inside and hey presto! No more stains. WD-40 isn't just for sticky spots – it's also handy for any tough black scuff marks on your kitchen floor left by those who insist on wearing their shoes indoors. If you spray the marks with WD-40 before cleaning, you won't have to scrub nearly as much – and it won't damage the surface. White vinegar is a versatile and cost-effective solution for laundry care. Adding a cup of white vinegar to the rinse cycle can significantly enhance the softness of your clothes while effectively removing stubborn odours. The acetic acid in vinegar helps to break down detergent residues and mineral deposits, which can make fabrics feel stiff and rough. Additionally, vinegar's natural deodorising properties neutralise unpleasant smells, leaving your laundry fresh and clean. Cleaning blinds can be a tedious task, but using a simple vinegar and water solution can make it much easier and more effective – and a sock will save you loads of time. More Trending To start, mix equal parts white vinegar and water in a bowl. Then, take an old sock or glove and dip it into the solution. This makeshift cleaning tool is perfect for wiping down each slat of the blinds, allowing you to reach all the nooks and crannies. View More » The vinegar works as a natural disinfectant and degreaser, cutting through dust and grime effortlessly. Do you have a story to share? Get in touch by emailing MetroLifestyleTeam@ MORE: When do you start paying National Insurance and how much is it? MORE: I'm a human cash machine for my kids – I'm completely to blame MORE: Energy suppliers to refund households £7,000,000 after overcharging customers
