Eleanor Green lives in Derby and tops up her student loan by taking on remote social media jobs
In our How I Manage My Money series we aim to find out how people in the UK are spending, saving and investing money to meet their costs and achieve their goals.
This week we speak to Eleanor Green, 21, a university student living in Derby. Eleanor tops up her student loan by taking on remote social media jobs and is worried about her rent going up this month. She wants to work with children, but is concerned about the possibility of burnout if she gets a teaching job. Eleanor isn’t drawn to wealth, enjoys living simply and would like to earn up to £30,000 a year.
Monthly budget
My monthly income: Student finance, £850; money from work via MyPocketSkill, between £600 to £700.
My monthly outgoings: Rent, gas, electric, water, broadband, £580; groceries, £100. I use Spotify, which costs around £25 to £30 per month. I also use editing apps like Canva occasionally. I spend about £40 on various subscriptions each month in total. I don’t spend much on clothes, as I try to live sustainably, recycle, and buy from small shops. For day trips, eating out, and takeaways, I typically spend around £80 to £90 per month. However, this tends to be concentrated in one or two trips each month, so some months may be more or less. My parents pay my mobile phone bill. I’m currently spending about £5 a day on public transport when needed.
I grew up in Doncaster and come from a well-off middle-class family. My childhood was packed with musical theatre trips and holidays.
I’m studying for a Master’s in education with qualified teacher status at the University of Derby, and graduate next year. I receive £850 from a student finance package each month, which helps cover my rent and bills.
I’ve become more aware of the importance of financial independence since being at university. I appreciate what I have and want to avoid being overly reliant on others for money. Whenever I can, I prefer to pay my own bills and expenses. I don’t ask for financial support from my parents because I value my independence.
I think university fees are reasonable, especially since many costs are covered by student loans. However, I do think the system should be more equitable. Parental income should not be a deciding factor when it comes to whether or not someone can go to university.
The rising cost of rent, travel and bills, is concerning. I do worry that higher accommodation costs aren’t being matched by student funding.
I lived in student accommodation during my first year at university, before moving to a house share. I’m now paying £580 a month for the rent and utility bills, but this is going up later this month. The lack of affordable and good quality student housing is problematic in some university locations, but I think Derby offers a good range of options.
To make extra money, I take on social media jobs via MyPocketSkill. I create videos for online and help people or businesses boost their online presence. I also do tutoring, dog sitting, babysitting and market research work via the site.
I’ve only recently joined MyPocketSkill, but am earning around £600 to £700 a month from it. The money helps me with my expenses, enables me to live more independently and gives me the flexibility to work remotely rather than get a conventional nine-to-five job.
I have a student current account and a savings account with NatWest. I don’t add any money to my savings account at present, but hope to start putting £20 in it each month from September. As a result of my ADHD, I can be prone to impulse-spending. To help prevent this, I sometimes freeze my accounts and always review my finances weekly.
Retirement is such a long way off for me, so while I recognise the importance of saving for the future, it is not a priority. Living day-to-day is more important at this point. I do think it’s essential to save for a comfortable life, but the idea of saving for retirement at a young age feels distant and unnecessary.
I feel I was taught enough about saving, investing, pensions and credit cards while I was at secondary school, though I am aware not everyone was. All the information provided on personal finance can be overwhelming and inconsistent. There needs to be clearer guidance and resources available aimed at helping demystify these complex topics for young people.
I’m not particularly motivated by money. What drives me is having enough money to live comfortably on and cover the cost of secure housing, food and other essentials. I don’t aspire to wealth or luxury holidays.
My ideal job would involve working with children and I would like to earn between £25,000 to £30,000 a year. However, I’m uncertain if a traditional nine-to-five job is for me and worry about burnout and the long hours involved in some teaching roles.
I value work that allows flexibility and permits a good work-life balance. A remote or flexible teaching role would probably suit me better. Aside from getting a job working with children, I hope to travel more, buy a house one day and continue to live simply and sustainably.
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