Leigh Macfarlane, a content creator and civil servant, shares her insights on managing finances, prioritizing savings, and navigating the challenges of childcare costs.
Leigh Macfarlane, a 39-year-old content creator and civil servant, resides in Cheshire with her husband and two children. She prioritizes financial security and early retirement. Macfarlane balances a part-time civil service job with her self-employed work as a content creator on social media platforms, focusing on family life and money management.
Her self-employment income fluctuates between £700 and £3,500 per month, while her part-time civil service income amounts to approximately £1,600 per month. Her husband earns around £2,900 per month from his civil service job, and they receive £170.20 in child benefit every four weeks. The family adheres to a detailed budget, allocating funds to essential expenses such as mortgage, childcare, groceries, transportation, utilities, subscriptions, and personal care. They also prioritize savings, contributing to an essentials sinking fund, a holiday pot, and workplace pensions. Macfarlane expresses concern over the rising cost of childcare, noting the substantial expenses despite government-funded hours. She emphasizes the importance of quality childcare and willingly pays extra to ensure her children receive the best care. Regarding their home, the family purchased a three-bedroom terraced house in Cheshire in 2014 for £210,000. They've diligently overpaid their mortgage by £400 per month, aiming to reduce the term and save on interest. Macfarlane acknowledges the potential challenges of remortgaging this year due to rising interest rates. She actively invests in her retirement through Vanguard, supplementing her workplace pension contributions. Macfarlane is particularly vocal about young people opting out of workplace pensions, urging them to consider the long-term benefits of contributing. She believes prioritizing retirement savings is crucial for financial well-being in the future
PERSONAL FINANCE SAVING INVESTING CHILDCARE MORTGAGE RETIREMENT CONTENT CREATION
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