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 Chris Minton, 22, who lives in West Sussex and works as a theatre technician for a council. Chris purchased his first flat at the age of 21 and wants to be able to pick and choose the work he does from the age of 40. He thinks the state pension will be means-tested when he is older.
My monthly income: I take home £1,938 from my full-time job as a theatre technician. I also make between £200 and £300 a month doing freelance theatre technician work, but this is variable.
My monthly outgoings: Mortgage: £600; service charge for flat, £67.50; council tax, £120; groceries, £225; electric, £50; water, £30; broadband, £30; mobile, £16; Apple iCloud storage, £3; insurance policies, including for contents, my mobile and car, £47; petrol, £100; TV licence, £36 as I’m in the first six months of paying it, then it will drop; money into investments, minimum of £150, money into cash emergency fund, £150; workplace pension, £160; takeaways, £40; going out and entertainment, £60; ad hoc items, £50.
I grew up in Worthing with my family. My mum works in childcare and my dad is a taxi driver, but previously ran a butcher’s shop before it closed. When I was younger, my parents got into debt and had to enter into a debt management plan to clear it. This experience taught me a lot about money and is a big part of the reason I am careful with it.
