April 24, 2024

A PR Director On 47k Wants A Bigger House To Support Growing Family

Welcome to Money Matters: GLAMOUR’s weekly dive into the world of finance. We’re chatting all things personal finance, from contracting rights in the workplace to expert mortgage advice and saving for your first home, to ISAs and dealing with debt, to help empower you to make better choices.

Now more than ever, it’s important to understand our money, but so many of us feel as if we don’t have a handle on it – or worse, feel anxious and scared about money.

So each week, a woman in a unique situation will give us an honest breakdown of her finances, and our expert will give her easy tips on exactly how to tackle it.

To submit your own anonymous money diary and get top expert tips tailored to you, simply submit your entry here. And don’t forget to join GLAMOUR’s Facebook group, Money Matters, for more exclusive finance content.

Amanda* is a 31-year-old PR director currently living in North Yorkshire. She recently got married, and she and her husband are six months away from the end of their two-year fixed mortgage on their two-bed terrace house.

Amanda and her husband have secure jobs and are keen to start a family soon. However, due to the recent spike in mortgage interest rates and their fixed mortgage ending in May 2023, they’re concerned about whether they can upsize their house to make room for their potentially growing family.

Staying in their current house will cost them an £450 extra month in interest, and the prospect of having to pay more to stay somewhere that they’ve already outgrown is causing a lot of concern. They’re resigned to the idea that they will be paying an extra £1,000 per month – on top of their current mortgage.

With no savings between them, how can Amanda and her husband afford to upsize their house while beginning to save to support a potentially growing family?

Here she shares her money diary…


Current account: £588
Savings account: £700


Annual salary pre-tax: £47,000
Annual salary post-tax: £37,198
Monthly wage pre-tax: £3916. 67
Monthly wage post-tax: £2579. 20
Other incoming payments: £0


Rent/mortgage: £325
Bills: £462
Splurges: £185
Other: £120
Any student loan/credit cards/overdrafts etc: £201 per month on a student loan.


My worst money habit: Overspending at the start of each month and being caught short at the end.
My biggest money worry: Not having enough savings for when we’re ready to have a child and how I’ll be able to take one year off on maternity leave on one salary (with a bigger mortgage! )
My financial hopes for the future: Having a larger property for a growing family, but with healthy savings and plenty of disposable income to be able to treat ourselves and have a good quality of life.
Current money mood:


Makala Green is a multi-award-winning Chartered Financial Adviser at Schroders Personal Wealth and has over 18 years of experience in the financial industry. She understands managing money can be complicated and confusing, which is why she is passionate about making financial planning more accessible for all. She is also the Author of The Money Edit; a no shame no blame guide to taking control of your money.

Additional space is always appealing when considering starting a family. However, there are a few factors you need to understand when planning on upsizing, such as:

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