Money diary of a couple on a joint salary of £42k

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 29 year old Babysitter who owns a two bedroom shared ownership home in Hampshire, with her husband who is a Telecommunications Coordinator. "This money diary shows that we are good at managing our money and always keep track of how much we are spending."

About me

Age 29

Location Hampshire

House type 2 bedroom mid terrace house

Share owned 40%

Deposit £6,800

Job title I'm a Babysitter and my husband is a Telecommunications Coordinator

Industry Childcare

Salary Joint salary of £42,000

Monthly take home pay (after tax etc) £2,600

How many people in the household Me, my husband, 2 children & I am currently pregnant with baby number 3

My Monthly Costs

Monthly housing costs Total £995.32

£445.86 Mortgage

£353.81 Rent

£35.64 Service charge

£153 Council Tax

£7.01 Contents Insurance

Monthly utility bills Total £82

£48 Gas & Electric 

£34 Water

Monthly loan payments Total £190.87

£20.87 Fridge Finance

£170 Credit Card

All other monthly expenses Total £734.35

£350 Food

£17.50 Car Tax

£200 Car Fuel

£48.55 Car Insurance

£12.83 TV License

£12.50 Contact Lenses

£16 Phones x 2

£55 Sky TV

£7.99 Netflix

£5.99 Disney+

£7.99 Xbox Live

Monthly Total: £2002.54

Do you use a budgeting or finance app to help you manage your money? I have typed up all our income and outgoings into my numbers app on my phone/laptop & we keep track of everything on that.

Weekly spend

Day 1 - Monday

1.15pm: This afternoon I popped into Sainsbury’s to get some bits I forgot to buy on my weekly shop. £8.65

Day 2 - Tuesday

1.10pm: Today I collected my sons birthday balloon ready for his birthday tomorrow. £3.99

1.20pm: After collecting my sons birthday balloon I popped to the Smyths toy shop to get a last minute birthday gift for my son, and also a small toy for my youngest as a well done for going into his second day at school, very well.£12.98

Day 3 - Wednesday

No extra spend today 🎉

Day 4 - Thursday

No extra spend today 🎉

Day 5 - Friday

11.00am: This morning I popped to Pets at Home to top up on food and bedding for our guinea pigs. £33

Day 6 - Saturday

No extra spend today 🎉

Day 7 - Sunday

12.30pm: This afternoon I popped to the shop to get some bread. £1.20

Total weekly spend: £59.82

Category breakdown

Food & Drink: £9.85

Entertainment: £16.97

Home & Health: £0

Clothes & Beauty: £0

Transportation: £0

Other: £33

Money diary conclusion

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

Looking back at my money diary has made me realise that this week was a slightly more expensive week than usual. We don’t buy things for our pets every week and I had to buy a few bits for our sons birthday. 

We are good at managing our money and always keep track of how much we are spending. In regards to saving, we tend to concentrate on paying off our credit cards at the minute if we have any leftover money. 

Would you recommend shared ownership?

I would definitely recommend shared ownership to others. Being able to purchase a property with a deposit that is typically 5% of the value of your share allows you to get moving sooner and puts you in a good position on the housing ladder.

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