How I Manage My Money: FX trader, on £50k a month, who spends £24k on holidays

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How I Manage My Money: FX trader, on £50k a month, who spends £24k on holidays
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Patrick Reid earns between £20,000 and £50,000 a month, adding his monthly expenditures can reach over £20,000 a month

Patrick Reid earns between £20,000 and £50,000 a month, adding his monthly expenditures can reach over £20,000 a monthwe aim to find out how people in the UK are spending, saving and investing money to meet their costs and achieve their goals.

At the age of 38 I wanted a radical career change. It’s never too late to do this. I’d always been fascinated by theI met a futures trader and grabbed a once in a lifetime opportunity to work for the biggest proprietary desk in Europe. It was the hardest thing I have ever done, but I knew it lit my fire. In the first year, I hardly made a living, earning £50,000. But in my second year I made over £12m through futures trading and on the Spot FX team for another proprietary desk.

My monthly expenditure can be over £20,000. I love facials, spas and eating out. I spent £900 each month on spas and facials. Eating out at Roka costs roughly £300 a time and I do this four times a month. I usually spend £4,000 per month on dining out and entertainment. I have a brilliant stylist, Charlotte Broadbant, at a cost of £900 per month, and spend over £2,000 each month on clothes. I often buy items I’ve been shown in Harvey Nichols.

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