Melissa Kerrighen shares her financial struggles living in the UK, highlighting the rising cost of living and the difficulty of saving for the future. She details her monthly expenses, debt repayment plan, and aspirations for homeownership.
Melissa Kerrighen thinks the cost of living in the UK is too expensive and can't imagine getting on the property ladderwe aim to find out how people in the UK are spending, saving and investing money to meet their costs and achieve their goals.
I left home when I was 16 and grew up in quite a toxic environment. My dad left the family home when I was 13 and mum had problems with alcohol, drugs and her mental health. We lived in social housing and relied on benefits. I didn’t finish my A-Levels at school or go to university, but ended up doing a course in business administration instead.
I’d never got into debt on my credit card until a couple of years ago. I began making purchases on the card, forgot about them and then started doing minimum repayments. It soon mounted up and I found myself in over £3,000 of credit card debt. I’m now paying off about £150 a month, but this is variable. I’m hoping to get it all paid off by the end of May 2026. I’d like to get it paid off sooner and am making as many repayments as I can without leaving myself short.
I’ve got about £1,200 in a savings account, but I often need to use the money in it for short-term spending. As I’m still paying off my debt, I don’t want to have to go back to using my credit card if my washing machine breaks down, for example.
COST OF LIVING DEBT SAVING UK ECONOMY HOUSING MARKET
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