November 24th 2024.
The bond between friends is a strong one, and for this tight-knit group of four, money has never been a factor that has come between them. At 26 years old, Daisy Parker holds the title for the highest earner among her friends, with an annual salary of £41,500 and a weekend job at a livery yard to bring in some extra income. Eryn, also 26, makes about half of what Daisy does as an early years practitioner. She admits that while she loves her job, it can be a financial struggle and she often relies on support from her parents.
In the middle of the group, we have Georgia, 27, who works as a communications and marketing executive, and Rebecca, 26, a graphic designer. Both of them bring home slightly over £30,000 a year. These four women, who have been friends for over 10 years since their school days, come from similar backgrounds. However, as they have grown older, their situations have become quite different.
Eryn, who currently lives with her parents in Thames Ditton, Surrey, explains, "There are disparities in regard to what steps each of us are able to take. For example, everyone else has moved out and is renting – Georgia has even bought a house." According to financial expert Catherine Morgan, this is a common occurrence among friends. "I am sure we have all experienced a time when a friend excitedly suggests a weekend spa getaway at £300 per night, calling it 'such a bargain!' Meanwhile, you're mentally calculating that's about 75% of your monthly fun money budget, while trying to keep your poker face!" she says. "These situations aren't just about the price tag – they're about the unspoken dance we do around money. One friend might be silently stressing about suggesting 'budget-friendly' alternatives, while the other is worried about coming across as Marie Antoinette with their suggestions."
Each of these women have different jobs and lifestyles, which naturally affects their bank balances. Daisy, who brings in the most income at £41,500 a year, is unable to save due to high expenses. She rents a one-bedroom flat in Hastings, East Sussex and typically spends most of her wage by the end of the month. Commuting to London for work takes up a large portion of her expenses.
On the other hand, Georgia, who is 26 and works as a marketing executive, recently became a homeowner with her partner in Great Bookham, Surrey. She currently spends more than usual on renovating their new house, but once the renovations are done, she will have just under £1000 left over each month. This is a major milestone for Georgia, who has always dreamed of owning her own home.
Rebecca, 27, works as a graphic designer and rents in Balham, London. She admits to living "month to month," despite having a fair amount left over after rent and bills. She enjoys spending her disposable income on activities like eating out, going out with friends, and attending exhibitions. For her, the hustle and bustle of London is worth the extra expenses.
Eryn, 26, works as an early years practitioner and brings in an annual salary of £23,000. She also does ad hoc babysitting and nannying work on the side. Eryn lives with her parents in Thames Ditton, Surrey, and pays a small amount of rent which her parents place into a savings account for her to access later. While she admits to being a self-confessed shopaholic, her essential expenses are limited to her phone bill, car, and entertainment subscriptions.
It's not uncommon for people to surround themselves with others from similar backgrounds. However, as the gap between the haves and have-nots in British society continues to widen, it's becoming more common for friends to have vastly different incomes. The median gross annual salary in the country is currently £37,430, according to the ONS. This includes employees in high-paying industries such as finance and information. On the other hand, a full-time worker on minimum wage makes closer to £22,000 a year before tax, and a single person on Universal Credit must get by on a maximum of £16,967.
Income is not the only factor at play when it comes to wealth. For example, the NCT estimates that full-time childcare for a child under two can cost nearly £14,000 per year. In high-cost areas like London and Manchester, rent can take up almost half of the average person's wage. Additional expenses such as utilities and transport also have their own impact.
Despite being the highest earner among her friends and making more than the national average, Daisy says she's "by no means financially comfortable." As a single person, she struggles to cover the cost of renting her one-bedroom flat in Hastings, commuting into London three times a week, and staying on top of bills. While her family would do their best to help her if she was in a tough spot, they are not well off and are unlikely to have much money to spare.
Throughout their 10-year friendship, these four women have all experienced times where they have been better or worse off financially. However, they have never let money come between their close bond. As the saying goes, "Money can't buy friendship," and these four friends are a true testament to that.
The bond between these four best friends is unbreakable, even when it comes to money. Daisy, the operations analyst, is the highest earner among them, pulling in a £41,500 salary per year. But don't be fooled, she's not rolling in cash. In fact, she also works at a livery yard on the weekends to make some extra money. Meanwhile, Eryn, the early years practitioner, makes about half of what Daisy does. She loves her job, but admits that financially, it's a struggle. She often relies on support from her parents to make ends meet.
In the middle of this group is Georgia, the communications and marketing executive, and Rebecca, the graphic designer. They both bring home slightly over £30,000 a year. Despite all four of them growing up with similar backgrounds, their current situations vary greatly. Eryn, who still lives with her parents in Surrey, points out the disparities among them. "For example, everyone else has moved out and is renting – Georgia has even bought a house," she tells Metro.
According to financial expert and host of the 'It's Not About The Money' podcast, Catherine Morgan, this is a common occurrence. She explains that we've all experienced those moments when a friend suggests a weekend getaway that seems like a bargain to them, but leaves us mentally calculating our budget and trying to hide our concerns. These situations are about more than just the price tag, they also involve underlying worries and insecurities about money.
Each of these women have different jobs and lifestyles, which naturally affects their income and spending. Daisy, who earns the most, still struggles to save money due to high expenses. On the other hand, Georgia, who recently became a homeowner, has more disposable income after paying for her house renovation. Meanwhile, Rebecca, who lives in London, admits to living "month to month" despite having some extra money after paying for rent and bills. She enjoys the city life and doesn't mind spending a little more for it. And then there's Eryn, the self-proclaimed "shopaholic" who works as an early years practitioner and does some babysitting and nannying on the side. She lives with her parents and they help her save for the future by putting her rent money into a savings account.
It's not uncommon for people to surround themselves with others from similar backgrounds, but as the gap between the wealthy and those less fortunate widens in British society, it's becoming more common to have friends who earn significantly more or less than us. The median gross annual salary in the country is currently £37,430, with some industries, like finance and information, having higher-paid employees. However, those working minimum wage jobs make much less, and things like childcare and high rent prices can greatly impact someone's finances.
Despite earning more than the national average, Daisy says she's far from financially comfortable. She struggles to cover the cost of living in her one-bedroom flat in Hastings while commuting to London for work. She admits that her family would help her out if she needed it, but they're not well off and don't have much extra money to spare.
Throughout their 10-year friendship, each of these women has experienced both financial ups and downs. But one thing remains constant – their strong bond and support for each other, no matter the differences in their incomes.
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