What On Earth Are We Doing With Our Money?
Welcome to our new money section! You may already know Refinery29’s Money Diaries… this is our own version of it! We’ve put together a few questions to understand what women are doing with their money. Let’s break the taboo and talk more about finances!
It’s short, snappy, fun and anonymous.
Marketing Consultant. London. 33. Three of us.
Short term (1-5 years): Buy a house
Medium term (5-10 years): Buy a buy to let
Long term (10 years +): Second home in Somerset
Best buy ever: All the travelling I did before I had my son, so valuable
Worst buy ever: Cars always depreciate but absolutely love having great cars
Things you spend the most money on: Rent, holidays, school fees, clothing, beauty and alternative therapies
Salary / Income: £120k
Net worth (what you own vs what you owe, or your assets minus your debts): £800k
Any side hustles: N/A
Savings: Pension, regular savings for my son, school fees a year in advance, ISAs, pensions. Large capital reserves for house purchase
Home: Renting is a pisstake £2.5k a month for a family home in zone 2 need to buy 5 years ago…
Debt: Car finance and 0% credit cards burdening some business costs that will be paid off with mortgage
Investing: Managing all the family ISAs and SIPPs in HL. Have legacy stakeholder pension too. If I go back onto PAYE would investigate any work saving schemes too
Pension: Yes £450 per month into moderately managed SIPP
Insurances: Yes lots of life cover for my little boy and CIC in trust to my partner to avoid it going into my estate
What is money for you? Survival, independence, mind and my son’s future. I don’t want him growing up being told he can’t have things/we can’t afford it like I was
What is financial independence for you? Not being dependent on my partner again ever because the set up for maternity/mothers in this country is a disgrace. Going to get a job with paid maternity for the next babies as working with a tiny baby is horrendous.
🙋🙋 Please help us break the taboo and participate here 🙋🙋