January 31, 2023

Tricia Oak

Business & Finance Excellency

26-Calendar year-Outdated Marketing and advertising Supervisor On 32.5k

This week: “I’m a 26-12 months-aged advertising and marketing manager residing and operating in Buckinghamshire. I have lived with my very long-expression partner and our cat for almost five many years, right after relocating out of my family dwelling just a handful of months immediately after I graduated. Inspite of leaving uni having cleared my £2,000 scholar overdraft wholly, I soon fell back again into financial debt as I struggled to stability the fees of housing, transport and exciting against my commencing wage of £20,000. Due to the fact then I’ve accumulated a overall of £4,500 credit card debt. I’m now on a journey to wipe this equilibrium in the up coming 12 months to get #debtfreein2023 so that I can start off conserving for a home loan deposit. Outdoors of operate I like to bake, occasionally make art (electronic and acrylic painting) and regular extravagant London eating places for sushi and cocktails with mates (despite the fact that I’m trying to lower again considerably on that past pastime).”
 
Occupation: Marketing manager
Field: Recruitment
Age: 26
Site: Buckinghamshire, England
Income: £32,500 foundation with a 10% annual bonus 
Paycheque amount: £2,100 
Amount of housemates: 1: my partner, G
Pronouns: She/her
 
Month-to-month Expenditures
 
Housing costs: My share is £725, this contains lease and all payments. Our total regular lease is £1,175 for a compact, two-bed terraced dwelling.
Mortgage payments: £120 (£80 direct debit to just one credit score card which has a £1,350 equilibrium and £40 direct debit to a different credit score card with a £3,250 stability). My full credit history card harmony is ~£4,500, which has been really dependable for the final 3 or four several years. This debt largely accumulated when we moved out and when I ordered my first automobile. I made a decision to spend for the car or truck and the insurance plan on a % fascination credit history card and I guess I have hardly ever actually dented that stability, just held adding to it. I am shelling out an additional £350 in credit history card repayments regular in an effort and hard work to clear all £4,500 this year, with the help of my reward payments and regular monthly pension contribution preserving.
Discounts? Joint account price savings £350, crypto ‘investments’ £30, my LISA £1, my partner’s LISA £8,000.
Pension? I have a equilibrium of £12,000 involving quite a few pots. I acquired a new career in Oct 2021 and have just lately opted out of my pension with this employer in get to pay out my credit rating card financial debt off extra swiftly.
Utilities: All involved in the £725 I add to the joint account just about every thirty day period (our merged utility expenditures are council tax £180, drinking water £24, contents insurance policy £6.30, Tv set licence £13.37, power £75, broadband £29.27).
All other regular payments: Cellular phone £45. Pet insurance £15.24. Subscriptions: Amazon Prime £7.99, Audible £3.99, Hayu £4.99, Scent Addict (perfume membership) £12, Apple cloud storage £2.99, Wix £9.50.