In our How I Manage My Money series, we aim to find out how people in the UK are spending, saving and investing to meet their costs and achieve their goals.
This week we’re talking to Annalize Burton, 19, who lives in Elsenham, Essex with her mother and younger sister. Annalize has just completed the first year of her BA in Primary Education at St. Mary’s University in London.
I’m just starting the second year of my studies. I am studying for a career as a primary school teacher. My degree also means I have Qualified Teacher (QTS) status, which means that I can start teaching immediately after I graduate.
It was quite difficult to start university during Covid. I didn’t do my high school diploma; we should take the exams in summer 2020. I think it was a bit of an anti-climax because I did almost all of the prep for it. I ended up getting three Bs, I’m good at exams, but it’s the way it is and I got the course I wanted.
I make £ 400 a month, sometimes more, doing delivery trips for a local fish and chip shop. With the pandemic, of course, more people have their food delivered, so I often get overtime. My normal working hours are three days a week, four and a half hours a day. I get £ 7.06 an hour using the company car and £ 9.06 an hour using my own car.
I live with my mother and younger sister in Elsenham, about an hour’s train ride from London. When I started my studies last year, I lived in dormitories, but when we started we all ended up in quarantine. I was thinking of dropping out of college. I was so unhappy, but in the end I moved back to my mother and commuted to university from there.
Many of our lectures are online, but for the coming year we will be at least three days a week. My father, my stepmother and my other sister live in London so I can stay with them too. I am lucky to be able to do this. I saved money on travel prices so I’m assuming it will go up this year.
In addition to my salary, I get a student loan – a maintenance loan that was just over £ 4,000 last year. It’s based on your parents’ income and that’s what I’m supposed to use to pay for food, rent, and other living expenses.
I get quite a bit. But friends of mine whose parents have a lower income get more and those whose parents exceed a certain income are only allowed to borrow less. You can see that some people are stuck in the middle and their parents can’t always make up for the difference.
I also get a loan for my tuition fees which are set at £ 9,250 per year. They promised not to increase it, but some of us are pissed off that we still had to pay that amount despite so many lectures online.
I try to save my student loan for emergency costs and live on my salary. But it is not always possible. My car, a Ford Ka, broke down recently and it cost me £ 300 to repair. That 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 completed it through Tickr, but when I renew I will see if I can change the deductible, even if it means a little more.
Going out is one of my biggest expenditures, I spend between £ 100 and £ 150 a month on going out and my next largest expense is £ 80 on gasoline. That means filling a tank about twice a month. It was £ 30 but has gone up to £ 40 to £ 45.
I also have a Halifax help on buying ISA. There’s nothing to it, I opened it because they wanted to block those accounts and I knew I had to do it in the future. I hope to start work immediately after graduation and I am determined to save up to buy a home.
My checking account is a student account with Santander. I don’t use the overdraft and there is a free 4-year train ticket, so there aren’t many extras.
My cell phone costs £ 42 a month, which is airtime and the cost of my cell phone, my mom is paying for that at the moment, but when I get my loan I took a direct debit to pay it back.
I like getting my nails done, which costs £ 25 every six weeks. I also get my hair trimmed and trimmed every four months for which I pay £ 95. I tend to do these things when I’m earning overtime or when I can afford it.
I’ve sold some of my dresses on Depop and eBay, but I wasn’t impressed with how much they sold. When it comes to buying clothes, I tend to buy for special occasions and stick with H&M or Boohoo.
When I get my loan next semester I’ll start saving again if I can, but I can imagine my social life getting a little more expensive with the lockdown ending. I have a Halifax instant savings account and I want to deposit £ 50 a month.