Molly Gunn, a self-employed social media editor and Airbnb host, shares her experience of working multiple jobs to earn a comfortable income. Despite earning £4,000-£4,500 per month, she finds it challenging to cover her bills and expenses as a homeowner with three children.
Why does it feel like so many families with decent incomes are just about keeping their heads above water, asks Molly GunnI’m finally earning the sort of wage I used to dream of. I usually clear about £4,000 to £4,500 a month. Which, to be honest, I’m proud of, as I’m self-employed (I have been for 18 years) and each month I hustle five income streams to bring in that much.; I am a social media editor (for Kabuto Noodles); and I have an Airbnb in my home in Somerset.
I do all these jobs in school hours, 9am-3.30pm, and I rarely come up for air. But herein lies the rub. For all that juggling and working, £4,500 a month isn’t enough to pay my bills andas a homeowner with three children. Before you ask, no, I don’t have kids at private school! Thank goodness. I feel sorry for anyone who does, especially now they’ll soon be taxed 20 per cent, too. It feels like I work, work, work, every single month, earning good money that lands in my account for about two minutes before I have to transfer it out again. Money flies out as quickly as it arrived, leaving me back at zero, so I have to do it all again. A few months ago our mortgage went up by £700 when the fixed term ended. It jumped from £1,800 to £2,500 overnight. That’s a lot of extra money to find. When I say “our” I mean me and my husband, Tom, who has been self-employed as a music producer since I met him 24 years ago. Tom also earns thousands of pounds a month. I’m not sure of the exact figure as we decided a few years ago to keep our finances separate. We both have a personal account, and we put enough into the joint account to cover the mortgage, bills, food, and expenses such as kids’ clubs. We have to put £3,000 each into the joint account to cover these “basics”. (Okay, maybe kids’ clubs are a luxury not a basic, but our daughter has a high energy drive, and thrives on activities – I’m working so hard I want to be able to afford her a dance class or a swimming lesson
Income Expenses Homeowner Self-Employment Family
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