In our How I Manage My Money series we aim to find out how people in the UK spend, save and invest money to cover their costs and achieve their goals..
This week we talk to Annalize Burton, 19, who lives with her mother and younger sister in Elsenham, Essex. Annalize has just completed the first year of a BA in Primary Education at St Mary’s University in London.
I am about to start my second year of bachelor’s degree. I am studying for a career as an elementary school teacher. My diploma will also allow me to have QTS Qualified Teacher status, which means that I will be able to start teaching upon graduation.
It was quite difficult to start college during Covid. I did not pass my baccalaureate; we were supposed to take the exams in the summer of 2020. I guess it was a bit of an anti-climax because I had done most of the preparation for them. I had three B’s in the end, I’m good at the exams but that’s how it is and I took the course I wanted.
I earn £ 400 a month, sometimes more, driving deliveries for a local fish and chip shop. Obviously with the pandemic more and more people are having their food delivered, so I often work overtime as well. My normal hours are three days a week, four and a half hours a day. I get £ 7.06 per hour if I use the company car and £ 9.06 per hour if I use my own car.
I live with my mom and younger sister in Elsenham, about an hour by train from London. When my degree started last year I was living in dorms, but when we started we all ended up being quarantined. I thought about quitting my degree. I was so miserable, but in the end I went home with my mom and went to college from there.
A lot of our conferences are online, but this year we’re going to be going at least three days a week. My dad, stepmom and other sister live in London so I can stay with them too. I’m lucky to be able to do that. I saved money on travel fares so I expect it to increase this year.
In addition to my salary, I get a student loan – a maintenance loan that last year amounted to just over £ 4000. It’s based on your parents’ income and from that I have to pay for food, rent, and other living expenses.
I get a lot of them. But my friends whose parents have lower incomes get more and those whose parents earn above a certain level are only allowed to borrow less. You can see that some people are stuck in the middle and their parents can’t always tell the difference.
I also get a loan for my tuition, which has been set at £ 9,250 per year. They promised not to increase them, but many of us are angry that we still had to pay this amount despite the large number of our conferences online.
I’m trying to save my student loan for emergency expenses and live off my paycheck. But this is not always possible. My car, a Ford Ka, broke down recently and cost me £ 300 to repair. It was most of my savings.
I don’t pay rent, but I pay for my food. My car insurance is £ 62, it’s cheap because my deductible is very high, I got it through Tickr but when I renew I will see if I can change the deductible even if it means paying a little more.
Going out is one of my biggest expenses, I spend £ 100-150 a month going out and my second biggest expense is £ 80 on gas. This is to fill a tank about twice a month. It was £ 30 but has increased from £ 40 to £ 45.
I also have a Halifax Help to Buy ISA. There is nothing in there, I opened it because they were going to shut down these accounts and I knew I would need them in the future. I hope to start working as soon as I graduate and am determined to save for a house.
My current account is a student account with Santander. I don’t use the overdraft and it comes with a free four-year train pass, so there aren’t a lot of extras with it.
My cell phone costs £ 42 per month, that’s airtime and the cost of my phone my mom is paying for it right now but when I get my loan I have a direct debit to pay it off .
I like to have my nails done, which costs £ 25 every six weeks. I also get my hair highlighted and cut every four months, and I pay £ 95 for it. I tend to do these things when I am earning overtime or when I can afford it.
I sold some of my clothes on Depop and eBay, but I was not impressed with the price. When it comes to shopping for clothes, I tend to shop only for special occasions and stick to H&M or Boohoo.
When I get my loan at the next term, I’ll start saving again if I can, but I imagine that with foreclosure, the end of my social life might get a bit more expensive. I have a Halifax Instant Savings Account and plan to put £ 50 a month into it.