Money diary of a 27 year old shared owner on 34k

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 a shared ownership home and what a week looks like for our shared owners finances. 

This week we hear from a 27 year old Business Development Executive who owns a one bed shared ownership home in Berkshire on their own. "This money diary has made me realise just how much more I spend after I've been paid compared to other weeks, but what was really interesting was to find out that even if I spent that much every week I'd still have money at the end of the month to put away in savings. That's really helped me to realise I could be saving more, and I'm excited to carry on tracking what I spend."

About me

Age 27

Location Berkshire

House type 1 bed apartment

Share owned 40%

Deposit £10,000

Job title Business Development Executive

Industry Financial Services

Annual salary £34,000

Monthly take home pay (after tax etc) £2,036

How many people in the household Just me

My monthly costs

Monthly housing costs Total £699

£321 Mortgage

£265 Rent

£113 Service charge

Monthly utility bills Total £220.99

£105 Council tax

£18 Electric

£15 Water

£33 Heating

£29.99 Internet

£13 TV Licence

£7 Home Insurance

Monthly loan payments Total £250.25

£192 Car lease

£22.92 New bike on finance

£35.33 Monthly credit card payments

All other monthly expenses Total £113.89

£10.40 NHS monthly prescription fee

£43.49 Car insurance

£50 Mobile phone

£10 into savings for a Christmas dinner with friends

Monthly Total: £1,284

Do you use a budgeting or finance app to help you manage your money? I have a Monzo card separate to my main bank account. I transfer my monthly spending money at the beginning of the month to try and budget.

Weekly spend

Day 1 - Monday

7pm:  I need to fill up on petrol on the way to meet a friend – this will last me a week. My weekly petrol cost is about a quarter of what it used to be as I’m currently working from home due to covid and no longer having to commute into work every day. £20

7.30pm: Went for dinner with a friend to celebrate her birthday, she lives in a town around 20 miles away so although I needed to fill up on petrol, the dinner was relatively cheap as I was driving. £20

Day 2 - Tuesday

6pm:  I’ve got a friend coming round for dinner tonight so I needed to pick up a couple of extra bits in Tesco that I forgot on my weekly shop last week! £10

Day 3 - Wednesday

No spend day today 🎉

Day 4 - Thursday

8pm: Went for dinner with a friend, the development I live on is only twenty minutes from town and as it’s a nice evening I decide to walk in so I can have a drink and save money on a taxi both ways. £20

11pm: Get a taxi home, probably could have walked but I’ve just been paid so treat myself! £8

Day 5 - Friday

8am: I do a weekly shop before work in Tesco just down the road from me. I live on my own and really enjoy cooking and eating healthily so I plan my meals and can get a whole weeks food on around £20.

7pm: My friend is round to plan a weekend away in November as we’ve found a super cheap deal and I haven’t been away in over a year! I buy us some treats from the shop for our planning evening. £6

Day 6 - Saturday

12pm: I’ve gone shopping with a friend today. Our first stop is to Boots to do my monthly stock up on beauty products. Just the usual bits like face wipes, toothpaste, cotton pads etc that always seem to run out at the same time! £20 

2pm: Having a look round TK Maxx and I spy a really nice top, decide to treat myself as I’ve just been paid (really need to stop saying that). £7

3pm: Also treat myself to a new scarf from Matalan and tell myself it’s a necessity as it’s coming into Autumn/Winter! £10

4pm:  On the way home I grab a bottle of wine to have at my friend's house this evening, she lives on the same development as me so I can walk round and it only takes two minutes! £7

8pm: We share a Dominoes for dinner, it’s on a meal deal so it’s only £20 split between the two of us. £10 

Day 7 - Sunday

11am: Feeling surprisingly fresh after Dominos and wine last night so decide to go for a walk with the family who lives close by. I grab a couple of bits from Tesco for a picnic. £5

Total weekly spend: £163

Category breakdown

Food & Drink: £98

Entertainment: £0

Home & Health: £0

Clothes & Beauty: £37

Transportation: £28

Other: £0

Money diary conclusion

How has the diary made you realise or change the way you manage your finances and spending?

Doing the Money Diary has made me realise that as soon as I get paid I tend to splurge and treat myself. Next month I’ll be more aware of this and will really try to get better at budgeting at the beginning so I’m not scrimping throughout the rest of the month. 

This week was definitely a more expensive week for me as I’d just been paid so treated myself more than usual. I also wouldn’t usually go out for dinner twice in a week but it was a friend's birthday. Also, I hadn’t been shopping in ages due to covid and I wanted to get out the house on the weekend and meet a friend so did end up buying a few things.

It was good to work out though that even if I spent this every week, I would still have £100 left over to put in savings at the end of the month. I'll definitely use this moving forwards to work out what I can save every month. 

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