What I Spent This Week as a Doctor Making £157K

Ever wondered how others really manage their money?

In the A Week in My Wallet series, we share it all, because talking about money shouldn't be off-limits.

Every week, an anonymous member shares a week of their spending: no names, no filters, just honest stories about life's everyday financial choices.

Ready to join the conversation and help make money talk less taboo? Share your own story via our form here.

Monthly Take-Home Pay (after tax): £6,400 ($8,640)

‍Do you share expenses with someone? No

What is your overall monthly budget?

• Mortgage £1,050 ($1,418)
• Bills & Utilities £210 ($284)
• Subscriptions (entertainment & health) £100 ($135)
• Work subscriptions £190 ($257)
• Public Transport £60 ($81)
• Car (Repayments, insurance, Petrol) £550 ($743)
• Groceries £140 ($189)
• Eating out £140 ($189)Gym £120 ($162)
• Pet £150 ($203)
• Future me (approx 20% monthly salary after tax)
• Holiday pocket £250 ($338)High interest savings (for future home improvements) £250 ($338)
• LISA (for retirement) £250 ($338)
• S&S ISA £700 ($945)
• Spare Change Revolut wallet - for "treats"

Amount left each month after essentials (to spend, save or invest): £2,200 ($2,970) - for unforeseen expenses/top up ISA

Dependents (if any): Dog

My Relationship with Money

Growing up, did your parents or guardians educate you around money?‍

They ran their own business so I was aware of balancing the books and the fear of visits from the bank manager from a young age. Rather than an education this created a fear of not having enough money and a false belief that you should keep all of your finances with one bank.

What was your first job and why did you get it?‍

I worked as a waitress when I was 16 to "save" money for university. My parents encouraged me to get the job, but these savings were just put into my current account.

Did you worry about money growing up?‍

My parents always talked about not having enough money, but really they sacrificed small daily treats to afford a nice "sun holiday" for the family every year. My parents really prioritised education and getting good grades for my siblings and I, so that we would be in a better financial situation than them.

At what age did you become financially responsible for yourself and do you have a financial safety net?‍

At 18 I received government financial incentives in addition to my student loan to enable me to pay for university and I always tried to budget to avoid using my savings or asking my parents for help. I was fully responsible for myself when I finished university aged 23.

Do you worry about money now?‍

I work in a male dominated department and some of my colleagues talk a lot about investing, my main worry was that they were getting more from their salary than I was so I got curious and found Female Invest. The advice from the learning, webinars and bootcamp has been invaluable for improving my financial future, and after 6 months I have gains well beyond the cost of the subscription fee.

What is your biggest money regret?‍

Not becoming curious about investing earlier, I have missed years of compounding interest!

What financial goals are you working towards?‍

My main goal is to be organised and have a good understanding of my finances and personal budget. Currently I'm using pockets for near future expenses such as holidays and home improvements I will need in the next few years.

I would like to gain a better understanding of my prospects of retiring early and the sacrifices I would need to make now to achieve this, but I feel this area is too complex for me to understand without using a financial advisor.

Who is your financial role model (if any), and why?‍

I would describe one of my colleagues as "the gold standard" for finances - he has every penny planned and a deep understanding of how to maximise gains from tax and investments. I have the insight to know this is not what I want to achieve, I much prefer the little and often automations in the female invest advice.

Reflections on My Spending Habits:

A daily takeaway coffee at my local favourite spots is the "want" that I am happy to spend now that I have applied the 50/30/20 rule.

What I Spent in a Week

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Day 1: Monday - £751.10 ($1,014)
£47.40 ($64) — Nespresso pods
£3.70 ($5) — Takeaway Coffee
£700 ($945) — Invisalign‍

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Day 2: Tuesday - £0 ($0)
No spend day.‍

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Day 3: Wednesday - £16.90 ($23)
£13.30 ($18) — Brunch
£3.60 ($5) — Takeaway coffee

Day 4: Thursday - £0 ($0)
No spend day.‍

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Day 5: Friday - £11.95 ($16)
£11.95 ($16) — Lunch & Dinner at work‍

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Day 6: Saturday - £4 ($5)
£4 ($5) — Takeaway coffee‍

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Day 7: Sunday - £3.70 ($5)
£3.70 ($5) — Takeaway coffee

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Total Weekly Spend: £787.65 ($1,064)

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