Money diary of a 25 year old shared owner on £26k

Welcome to the Money Diaries of shared owners. We're talking to real Sovereign shared owners to find out exactly what it costs to own your own home with shared ownership. 

This week we hear from a 25 year old Police Officer who owns a two bedroom shared ownership apartment in Berkshire.

About me

Age - 25

Location - Newbury, Berkshire

House type - 2 bedroom apartment

Share owned - 40%

Deposit - £7,500

Job title - Police Officer

Salary - £26k

Monthly take home pay (after tax etc) - £1,750

How many people in the household - Just me!


My Monthly Costs

Monthly housing costs

£380 Mortgage

£280 Rent

£65 Service Charge

£174 Council Tax

Total monthly housing costs - £899


Monthly utility bills costs

£25 Electric

£10 Water

£25 Gas

£30 TV & Broadband

£14 TV Licence

Total monthly utility bills costs - £104


All other monthly expenses

£60 Gym Membership

£40 Car Insurance

£150 Savings Pot 

Total other monthly expenses costs - £250

Monthly Total: £1,253

Weekly Spend

Day 1 - Monday

11.30am: Monday morning coffee at work with my crew mate before getting sent to jobs! £3.80

1.45pm: Whilst at work I grab some lunch on the go. £4.50

6.00pm: Time for my weekly food shop. I am aware that I need to stock up on certain items before the national lockdown gets implemented again. £25.


Day 2 - Tuesday

12.30pm: Treat myself to a delicious lunch at 7 Bone! £18.

2.00pm: Feeling prepared for Christmas after doing some shopping for the festive period! £50.

5.00pm: Vehicle needs filling up. Stopped at the local garage to get some fuel. £25.


Day 3 - Wednesday

11.00am: Giving some TLC to my car this morning. It had a full MOT and service - has to be done! £170.

5.00pm: Pre-lockdown takeaway dinner! £25.


Day 4 - Thursday

11.30am: In need of my coffee fix to keep me awake. £4.

1.00pm: Grabbed a quick bite to eat at work. £3.

5.00pm: Treat yourself Thursday! I purchased a new pair of running trainers. £55.


Day 5 - Friday

4.00pm: Brought some lunch / dinner whilst at work. £4.

8.00pm: Paid for the next season of football training and games upfront due to uncertainties at the local FC. £50.


Day 6 - Saturday

10.00am: Due to lockdown my personal trainer is now on pause. This morning I visited my personal trainer to pay for my previous sessions. £200.


Day 7 - Sunday

8.00am: Lunch on the go at work again! £3.50.

2.00pm: My turn for a coffee round at work. £15.

6.00pm: I'm on early shifts starting from tomorrow. To be best prepared I put some fuel in the car again. £25.


Total Weekly Spend: £680.80

Category breakdown

Food & Drink: £105.80

Entertainment: £0

Home & Health: £305

Clothes & Beauty: £50

Transportation: £50

Other: £170

Money Diary Conclusion

In terms of managing my finances and spending, I am able to do this quite well and am always aware of how much on average I spend each week.

This week was more expensive than usual due to having to pay monthly extras like personal training sessions and football. In the coming weeks, my spending will still be slightly more than usual as we approach Christmas, as I will be spending more money on Christmas presents.

Want to know more about shared ownership?

For more information on how shared ownership works click here. Alternatively, to view a list of our current developments with new-build homes available for sale now, or coming soon, visit this page.

Share your experience!

Are you a Sovereign shared owner who would like to take part in our Money Diaries series? We’re looking to speak with a whole host of shared owners to find out what it really costs to own a shared ownership home, and what a typical week looks like for our shared owners finances. If you’d like to take part please email SLmarketing@sovereign.org.uk.