Money Diary: A Secondary School Teacher In Rural Scotland On 41k
Welcome to Money Diaries, where we're tackling what might be the last taboo facing modern working women: money. We're asking a cross-section of women how they spend their hard-earned money during a seven-day period – and we're tracking every last penny.
This week: "I’m a 31-year-old secondary school teacher living in rural northeast Scotland with my wife, M, and our 2.5-year-old puppy, A. We have been together for almost eight years and married for three and a half. After some time out of our careers to travel (M is a doctor), we settled in NE Scotland where M got a specialist training post which will take her through to being a consultant. This meant that we could buy a house and we are currently trying to live the country dream with our wee cottage that we bought in 2019. Somewhere in the future is starting a family and we are very fortunate to be entitled to NHS funding to support this.
In general, we don’t go out all that much (even before COVID) and so try to save a fair bit each month. We both see our money as shared and are happy to pool all our savings and pay for each other when out and about. In 2019 we were very lucky to be gifted £50,000 by my grandfather as a kind of ‘pre-death’ inheritance. This allowed us to put in an offer on a dream cottage, knowing that we would have enough money to make the improvements we needed/wanted (around £36,000 in total). We have slowly been doing up the cottage (replacing the windows, kitchen and bathroom, redecorating and making massive changes in the garden) and are happy to spend money to make our house a home. We can almost see the light at the end of the tunnel as we now only have carpets, new doors and a new wood burner to buy (although lockdown 2.0 has put a spanner in the works in terms of getting tradespeople in). I cannot wait for everything to be finished!
When my grandfather passed away (his will was settled last May) we were flabbergasted to receive £133,000. This is an enormous amount of money and we feel that it is very important to look after it – we know that we are very lucky to be in this position and want to make sure that we use it to future-proof our life. All this pressure (put on myself really) massively stressed me out as I had no clue about how to keep it responsibly. After deciding that we don’t really understand investments enough to go down that route (and me being worried about the ethical/sustainability implications of some investments) we decided to buy a property to let and are currently in the process of closing on a flat in the city that M works in. We won’t have time to manage tenants ourselves so are happy to pay a letting agency to do this for us, even if this reduces the rental return. Hopefully over time this flat will prove to be a safe investment. We plan to use the rental return to help overpay the mortgage on our cottage and we used some of the inheritance to do this last year (overpayment of £21,000).
M and I are very similar in our outlook on life: we both love walking, gardening and generally being outdoors. We also try to do our best to look after the planet and stop climate change. I can be a bit obsessive about being eco and M kindly supports me with this. We are both vegetarians (and were before we met each other – ideal!) and we try to grow as much as we can in our garden. We also try to reduce our plastic consumption by avoiding single-use plastics and getting staples like cleaning and laundry products, dried food and herbs etc. from our local plastic-free shop. The furniture we buy is almost always secondhand or reclaimed wood and I have massively tried to reduce my purchasing of unnecessary products and clothes. I try to only buy clothes from companies which are actively sustainable and/or ethical and I now only buy clothes that will last."
Industry: Secondary education Age: 31 Location: Northeast Scotland Salary: £41,412 Paycheque amount: £2,143 (after deductions). Number of housemates: One: M, my wife (and A, our dog).
I’ve included all of our joint expenses as M and I split things pretty evenly and see all of our money as shared. M’s take-home pay is around £2,900 a month.
Housing costs: £1,500 mortgage for a three-bedroom detached cottage. Our actual mortgage payments are £937 but we started overpaying in March to speed up paying it off. We will continue to do this for as long as we can and aim to use savings/return from the flat to top up the overpayment to the maximum penalty-free amount of 10% each year. If my maths is right this means that we could be mortgage-free in about six years. Loan payments: £165 student loan. Utilities: From my account: council tax £184, landline phone £30 (our cottage is in a signal blackspot so this is vital), house insurance £742 paid annually. From M’s account: internet £40 (for an EE wireless dongle as you can’t get broadband here – downside of rural living), pet insurance £164 paid annually. From our joint account: Vitality mortgage insurance £51, electricity £70 for our winter months (this decreases in the summer). We are with So Energy as they are fully renewable – this offsets the guilt of being on oil for our heating (another countryside drawback). Oil £350 for a 1,000l tank (we go through about three or four a year but it’s been more when I’ve been working from home). Emptying the septic tank ~£280 every two-ish years. Transportation: Petrol/diesel for both my car and M’s is around £200 a month (M’s commute is 50 minutes each way). Tax for both is £250 and is paid annually by whoever opens the bill, as are MOTs and any repairs (this year this was over £1,000 as my car needed a lot of work). Multi-car insurance, with business and personal injury cover and breakdown recovery, is paid annually and was £1,130 at the start of April. Phone bill: M pays for both of our mobile bills: £42 combined. Savings? Around £130,000 in several savings accounts. £95,000 - £100,000 of this will be spent on the flat purchase, legal fees, upgrading costs and legal requirements/checks to get the flat ready for letting. As well as overpaying the mortgage we also try to save as much as we can each month and will use some of this for finishing the cottage renovations. Other: Joint: £200 for our dog walker (who walks A for an hour each day as we are out of the house from 8am until around 5.30/6 most weekdays), £32 for Netflix, Now TV and Amazon Prime, dog training (in non-COVID times) £40 for five sessions, tick and worming treatments for A ~£50 every three-ish months, food for A ~£70 every few months (we buy organic food which is climate-friendly and in recyclable packaging – this costs a bit more but is worth it). Personal additional extras: Trade union membership £14, donation to Tree Aid (empowering women and helping stop climate change!) £20, rugby club membership £7.50, charges for Triodos accounts £6, iCloud extra storage £2, annual teaching registration £65 and annual teachers' association for my specific subject £35, annual Quizlet and Mentimeter subscriptions £112 (I use both when I teach and couldn’t cope with the limitations on the free accounts, especially during the lockdowns).
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Ferro Corporation (NYSE: FOE) (the Company), a leading global supplier of technology-based functional coatings and color solutions, today announced it has entered into a definitive agreement to be acquired by Prince International Corporation, a portfolio company of American Securities LLC, in an all-cash transaction valued at approximately $2.1 billion, or 12.4 times TTM Adjusted EBITDA as of March 31, 2021, including the assumption of debt, net of cash. Under the terms of the agreement, which has been unanimously approved by the Ferro Corporation Board of Directors, Prince will acquire all of the outstanding common stock of Ferro for $22.00 per share in cash. The purchase price represents a 25.1% premium to the closing stock price on May 10, 2021 of $17.58 per share and a 33.8% premium to the 90-day volume-weighted average price.
OPEC on Tuesday stuck to its prediction of a strong recovery in world oil demand in 2021 as growth in China and the United States counters the coronavirus crisis in India, an outlook that bolsters the group's plan to gradually ease output cuts. The oil organisation, however, cut its demand forecast for the second quarter by 300,000 bpd. "India is currently facing severe COVID-19-related challenges and will therefore face a negative impact on its recovery in the second quarter, but it is expected to continue improving its momentum again in the second half of 2021," OPEC said in its monthly report.
Bugatti has released the world's most expensive pool table which will allow superyacht owners to play while at sea. The £217,000 'self-levelling' table uses sophisticated computer technology to ensure the playing surface remains stable even on the choppiest of seas. The table is being made by Spanish carbon fibre specialist company IXO for Bugatti's lifestyle collection and is the ideal addition for any Bugatti collector. The French firm will only make 30 limited-edition models, which are expected to sell out within days of their release in the coming weeks. Just like the hyper sports cars made in Molsheim, the Bugatti Pool Table is made of the highest quality materials and even wears the famous Bugatti badge. The carbon fibre finish of the Pool Table represents the sporting nature of the French luxury marque, while the strong frame of the table is underpinned by machined aluminium and titanium. The product meets the standards of a professional tournament pool table, and uses a gyroscopic sensor to level the playing surface and adjust for movements on sea. Bugatti said: "Each leg can move to compensate for the movement of a ship and remain perfectly level... The system can adjust in just five milliseconds, and the movement is completed in total silence with vibration-free adjustment." Each table comes with super-light carbon fibre pool cues and a 13in (33cm) touch screen built in to keep track of scores. Deliveries will begin in June and buyers will receive pictures of their table as it is made before it arrives. Pedro Sanchez, general manager at IXO, said the company has taken every effort to make the table "extraordinary". He said: "When we started developing the Bugatti Pool Table project, we knew we had to be different and excel in all areas in order to be extraordinary. Nothing has been spared."
Dublin, May 11, 2021 (GLOBE NEWSWIRE) -- The "The Future of EU Online Grocery 2021: Ultra Fast Deliveries, Aldi/Lidl Going Online, D2C" report has been added to ResearchAndMarkets.com's offering. Akin to the situation in physical online grocery, where several channels coexist, such as hypermarkets, supermarkets, discounters, convenience stores, organic specialists, this will probably be mirrored by online grocery concepts. And maybe even price segmentation will set in between them. While in the more mature markets the weekly shop is on the whole served well in the online channel through the big multichannel retailers with next day (or later) deliveries, the more immediate shopper missions had not been on the agenda prior to COVID-19. This has changed, the Instacart clones (basically a third party pick and delivery service) had an outstanding 2020 (the grocery divisions of deliveroo, Uber Eats, everli and glovo). But these players are now being disrupted by a new breed of online grocery players which are all about speed and convenience, the rapid convenience store delivery apps such as Getir, Dija, Weezy, Gorillas, Jiffy and Zapp. The ultra-rapid players have their own mini dark stores/depots in urban catchments and cut out the retailers for sourcing products. The hyperlocal nature of their business model enables them to pick for and reach customers' households within 10-15 minutes, in many cases being quicker than the shopper going to the store themselves. In the right circumstances such as a distressed shop late at night for OTC products, essential ingredients or the like this can be a very attractive offer. Following the model of US start-up goPuff, these players are trying to become global champions. Most of the other players are to various degrees copying the goPuff business model, even though the US player was not the first to come up with local hubs. And currently, this is where all the hot investment and start-up money is flowing. The promise to capital markets/PE/investor community is to build a truly global grocery business (where all the traditional players have failed) because the model is easily replicable any and everywhere and so it becomes a flag planting exercise and race for market share (just like the meal delivery apps). To guarantee the ultra-rapid delivery times the business model needs to be necessarily urban though. While there are many unanswered questions, mainly around profitability, for many shopping missions especially in the bigger cities this is probably the future of delivery, after all, no one wants slower deliveries and once the infrastructure is in place on the front and back end (the logistics set up and the riders) a lot of other services can ride on this too. Other big unanswered questions apart from costs/profitability are whether there are scale benefits, as 10 minutes implies that this is a point-to-point play in logistics. One simply cannot group trips into the catchment, if the rider has to be on the individual shopper's front door with a 10-minute window. In certain aspects, the rise of these new app players is a big threat to click and collect - but definitely for the convenience store sector, which so far had been shielded from the online grocery channel shift. The publisher would advise convenience store operators to have a long hard look at this and perhaps to launch their own service or partner up with an external service provider - but this would have to happen on a hyper-local level and is very cost-prohibitive. Companies Mentioned AldiAmazonArlaBevmoBringCajooCarrefourConadCoopCortiliaDanoneDeliverooDiaDijaE.LeclercEl Corte InglesEsselungaEverli/Supermercato24FlinkGetirGlovogoPuffGorillasHenkelJiffyKnuspr/RohlikKraft HeinzLes MousquetairesLidlLindtMercadonaPepsicoPicnicProcter & GambleSoftbankTegutUber EatsUnileverWeezyZapp For more information about this report visit https://www.researchandmarkets.com/r/h0aby5 About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Naomi Osaka looks pretty in pink in her new swimwear line. On Monday, the 23-year-old tennis star launched a collaboration with Frankies Bikinis. The collection features a variety of colors, patterns and sizes.
120 tonnes of liquid oxygen arrive in Bangalore from the eastern state of Jharkhand to provide relief to overwhelmed hospitals. India is facing a steep increase in Covid-19 cases, with the World Health Organization calling the variant spreading in the country a “concern at the global level”.
NHS workers who will be in the audience at tonight’s Brit Awards said today they were thrilled to be attending because “it feels like you are being appreciated”. An audience of 4,000 will be at the ceremony, hosted by comedian Jack Whitehall, as part of the Government’s live events pilot scheme. Ms Callender, who works at Lewisham and Greenwich NHS Trust, said the fact NHS workers had been offered tickets was “nice”.
According to a new Strategy Analytics forecast, "Global 5G Business Smartphone Shipment Forecast 2021-2026", 5G business smartphone shipments will grow at a CAGR of 28% over the 2021-2026 forecast period. High positive growth is expected in China, India, Australia, South Korea, UK, France, Germany, and the US, as 5G begins to ramp in these countries in 2021. Worldwide BYOD 5G smartphone shipments will increase by 187% YoY, and corporate-liable shipments will increase by 649% YoY from 2020. Increasing competition in the 5G Android space, particularly from Chinese vendors, will drive downward pressure on ASPs, which are expected to drop 23%, but revenue is expected to increase almost 10-fold from 2020 to 2026.
Computer Services, Inc. (CSI) (OTCQX: CSVI), a provider of end-to-end fintech and regtech solutions, has partnered with Los Angeles-based Kharon, a research and data analytics company focused on security threats that affect global finance, to provide CSI customers a comprehensive set of tools to enhance their financial crime and trade control frameworks.