When I graduated from university last year I got an 18-month trainee post with Leicester council children’s services. It pays £16,000 a year which is a fraction of the average salary, but compared to my time as a student I feel flush.
Until last summer I lived on a food budget of £20 a week and it was a struggle. I’d go to the supermarket late at night when stuff was marked down and eventually I realised that food went further if I made meals from scratch. I learned to order £40-worth of ingredients online and that would last a month. Now I spend £20 a week socialising with colleagues.
I’m fortunate in that I still live with my parents. I pay them £300 a month in rent which is not a lot less than a house share would have been, but I get my food and utilities included and don’t have to worry about council tax.
I’ve never had this much money in my life, but my budget is still tight. Clothes shopping is usually beyond my means; I like good quality so go to H&M rather than Primark if I need something. I have a lot of discount cards and vouchers. At university I had a smartphone, but now use a pay-as-you-go Nokia which costs very little. I walk to work which saves on bus fares and I bring my own lunch.
We’re lucky in that we live in the inner city in a very vibrant diverse area with lots of new restaurants so I can have a relatively cheap night out a couple of times a week.
I like spending my money on experiences: our local theatre often does youth tickets for £5, although I’d happily pay £50 for a really good show, and I sometimes travel down to London to the West End. Quite a bit of my money goes on train tickets to visit friends and family. I also have a £300 season ticket for Leicester City and will often use staff discount to go and watch the Leicester Tigers rugby club at about £20 a time.
We have always had one family holiday a year, usually in the UK but occasionally to places like the US as a rare treat. Until now my parents have paid for me but I expect that will change now I’m earning. About four times a year I’ll have a weekend away with friends. It’s always within the UK and we’ve become big fans of Airbnb because it’s such good value. I usually budget for £50 a trip, including food and accommodation.
I’ve been training myself to swim a mile, but I use the local leisure centre rather than a private gym because it only costs about £5 .
I come from a family that’s never had much money and so I’ve always been used to careful budgeting. I’d still live modestly even if I started earning big sums. I’ve never had dreams of the high life. We’re often giving to charity – I have a £15-a-month standing order – and to people on the street because that’s the sort of people we are.
I left university with a £40,000 student loan to pay off, but I earn below the repayment threshold. When I’ve finished my training I will be on a salary of about £22,000 which seems like riches to me, but I still be on too little to start repaying.
I know I’m lucky to be able to live with my parents and enjoy it, but I would urge to other students graduating with debts and small incomes to make the best of what you have. You can have a good life on very little if you’re careful.
As told to Anna Tims
