Money diary of a 35 year old shared owner on £33k

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 35 year old IT Change Manager who owns a two bed shared ownership home in Hampshire on their own. "This money diary made me realise that keeping an eye on the small things is key to managing your money, as they can build up over time without noticing.'

About me

Age 35

Location Hampshire

House type 2 bed coach house

Share owned 40%

Deposit £6,000

Job title IT Change Manager

Industry Civil Service

Annual salary £33,000

Monthly take home pay (after tax etc) £2,025

How many people in the household Just me, but I have a pony that lives in stables nearby

Other information I have a very small saving pot I need to rebuild after buying the house

My monthly costs

Monthly housing costs Total £968

£426 Mortgage

£385 Rent

£37 Service charge

£120 Council Tax

Monthly utility bills Total £115

£25 Electric

£18 Water

£25 Gas

£25 Internet

£13 TV Licence

£9 Home Insurance

Monthly loan payments Total £0

All other monthly expenses Total £323

£170 Stabling

£48 Horse Insurance

£8 Netflix

£30 Savings

£22 Car Tax

£25 Car Insurance

£20 Mobile Phone

Monthly Total: £1,406

Do you use a budgeting or finance app to help you manage your money? Yes, I love a good excel spreadsheet which is what I use to help me budget!

Weekly spend

Day 1 - Monday

5.30pm: This evening I did a weekly food shop but made sure to spend no extras. £35.15

Day 2 - Tuesday

No spend day today 🎉

Day 3 - Wednesday

No spend day today 🎉

Day 4 - Thursday

9.30am: Breakfast treat! Today it was my turn for bacon sandwiches at work. £8.95

2pm: I popped to the shop for two cold drinks. £4.33

5pm: Today I purchased new shoes for the Pony. £40

Day 5 - Friday

9.30am: Time for a Friday treat! Hot chocolate and a chocolate bar. £3.54

5pm:  I purchased a bottle of wine from the shops. £8

Day 6 - Saturday

No spend day today 🎉

Day 7 - Sunday

No spend day today 🎉

Total weekly spend: £99.97

Category breakdown

Food & Drink: £59.97

Entertainment: £0

Home & Health: £0

Clothes & Beauty: £0

Transportation: £0

Other: £40

Money diary conclusion

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

I've only been living in my new place just over a month. This is my 2nd month and I’m still being quite good with money, only spending where I need to. I just hope I can keep this up.

This was a normal week really being middle of the month, the only extra payment which is not a weekly occurrence was the shoeing for the horse which I budget for that for that.

What advice would you give to other shared owners in terms of budgeting? 

I think the key is to keep track of all your spending, especially on the small things as they can build up over time without noticing. Doing things like making your own lunch every day can save you a good amount of money, giving you the option to treat yourself in other ways such as having a meal out or a bottle of wine on a Friday as a treat. 

I live in a lovely Countryside area so I am trying my best to make the most of it  and go for a bike ride or run, rather than paying for the gym. Having the horse for 19 years has meant I've always put her 1st over me, so I've got quite good at not buying things I don’t need. It's also very easy with having a new property to see things that you think you need and don’t, so it's good to be able to distinguish between the two.

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