I’m a barista on a zero-hours contract, how can I progress in my career if I can’t even afford rent?

Welcome to Money Matters: GLAMOUR’s weekly dive into the world of finance. We’re chatting all things personal finance, from contracting rights in the workplace to expert mortgage advice and saving for your first home, to ISAs and dealing with debt, to help empower you to make better choices. Now more than ever, it’s important to understand our money, but so many of us feel as if we don’t have a handle on it – or worse, feel anxious and scared about money. 

So each week, a woman in a unique situation will give us an honest breakdown of her finances, and our expert will give her easy tips on how to tackle it. 

To submit your own anonymous money diary and get top expert tips tailored to you, simply submit your entry here. And don’t forget to join GLAMOUR’s Facebook group, Money Matters, for more exclusive finance content.

Iris is a 23-year-old barista from Gravesend. She lives with her parents after graduating from university with a 2:1 in a Humanities degree.

She works part-time on what is effectively a zero-hours contract. Each Monday, she finds out whether she is needed in the cafe, which dictates how much money she earns for the week ahead. She really enjoys her job and wants to progress towards a management role.

She earns roughly £10 per hour, which doesn’t feel like enough to progress her life with. However, Iris has been managing to save and now has about £1500 in the bank. Her parents are covering rent (for now), but ideally, she wants to move into her own place and still have enough money left over to socialise with her friends.

Iris has a student loan but hasn’t started to pay it back. She’s also confused about how much tax she should be paying.

Here she shares her money diary: 

MY ACCOUNTS

Current account: £300
Savings account: £1,500

MY INCOMINGS

Annual salary pre-tax: £16,000
Annual salary post-tax: £14,503
Monthly wage pre-tax: £1,333
Monthly wage post-tax: £1,208
Other incoming payments: £0

MY OUTGOINGS

Rent/mortgage: £0
Bills: £0
Splurges: £120
Other: £100
Any student loan/credit cards/overdrafts etc: £0

MY MONEY THOUGHTS

My worst money habit: Not checking my bank account (if I can’t see it – I can’t let it bother me!)
My biggest money worry: Having to pay rent.
My financial hopes for the future: To be on a full-time salary and be able to pay rent for a decent property.

Current money mood: ☕️????????‍♀️????

WHAT MONEY EXPERT MAKALA GREEN SAYS: 

Makala Green is a multi-award-winning Chartered Financial Adviser at Schroders Personal Wealth and has over 18 years of experience in the financial industry. She understands managing money can be complicated and confusing, which is why she is passionate about making financial planning more accessible for all. She is also the Author of The Money Edit; a no shame no blame guide to taking control of your money.