‘I am undoubtedly extremely privileged’
A trainee solicitor earning over £50k-a-year has gone public with her eye-catching financial set-up.
The unnamed 20-something trainee lives alone in “a large, two-bedroom flat in a good location” in London which she rents from her parents for £850-a-month. The young rookie goes on to explain that she recently became single and has started an “intense” training contract at a London law firm.
The solicitor-to-be further reveals that her parents pay her phone bill and she still occasionally put things on her their credit card. Despite these financial comforts, when asked if she has any savings, the trainee tells the website Refinery 29: “£0 (lol)”. Fortunately, however, there’s the private pension set up for her by her parents, which has “about £70,000 in it”.
The City newbie reveals how her first job working for a retailer was “miserable” and that she had been forced to do it by her mum “as a way to learn the value of hard work etc”.
Characterising herself as “more of a spender”, she confesses that “one of the big regrets of my financial life” is using the £7,000 in bonds gifted to her by her parents on partying at university rather than on a car as they had intended. She also admits she was given about £20,000 by her grandma to invest in crypto – something she’d “rather not think about because it’s now worth less than half of that”.
Asked whether she is worried about money, she tells the website:
“I worry about money a lot despite being on a good salary and a good career path. Growing up reasonably wealthy, there are certain lifestyle non-negotiables I expect and I’m worried I won’t be able to provide them for my own family. I know I have terrible money skills and have absolutely zero self-control and it’s difficult trying to navigate being somewhat responsible alongside having the most amount of fun possible.”
“I am undoubtedly extremely privileged and I’m grateful every day for the life that I have,” she acknowledges. “I know my parents work extremely hard for us.”