CASE STUDY
Name: Edwina Scott
Age: 26
Job: marketing co-ordinator for Kingston Smith LLP
Earns: £20,000 – £30,000
Lives: in Chiswick, with her mother
Rent: £400 per month, plus bills
Why: saving for a mortgage deposit
Moving out: no time soon – two or three years away at least
TWENTY-SIX year-old Edwina Scott is a classic “boomerang child” – she moved away to go to university, then afterwards worked in Jersey for a while, before coming back and moving in with her parents.
Initially returning to work in marketing for a hotel, Scott is now a marketing co-ordinator for audit and chartered accountancy firm Kingston Smith, and has lived with her mother in Chiswick for the past 18 months.
Earning between £20,000 and £30,000, she has a long-term plan to save a deposit for a mortgage but readily admits she has “not got very far”.
“It is not easy to save in London – it is an expensive city, and it can be tempting to splash out on holidays.”
Edwina pays £400 per month in rent, plus the occasional bill – much less than she would pay if she moved out – helping count towards her long-term goal of buying a house.
The set-up is “mutually beneficial”, and she expects to stay with her mother for the foreseeable future – “I will probably stay for the next two or three years. I’ve got no plans to go anywhere else,” she explains.