Newspaper article The Evening Standard (London, England)

We Asked Two Writers to Examine Their Very Different Finances

Newspaper article The Evening Standard (London, England)

We Asked Two Writers to Examine Their Very Different Finances

Article excerpt

Byline: Kara Dolman

THE DEBTOCRAT FOR a girl who is so often typecast, in real life, it seems, Zooey Deschanel plays against character. The queen of kook has been exposed as a savvy saver, one of this new breed of so-called "frugalcrats". Apparently Carey Mulligan and Mark Zuckerberg may also qualify.

While I'm not remotely surprised that 32-year-old Deschanel has a $3 million nest egg, I can't quite believe that in non-celebrity circles high-flying turbosavers are on the rise. But then again I would say that, hailing from another, more densely populated tribe: the debtocracy.

Unlike Deschanel, who spends less than a quarter of her salary, I plough 25 per cent of mine into debts, as I have done for the past four years.

And by the time I'm 32 (two years, seven months and counting) unlike Deschanel I won't have saved enough for a Hollywood Hills home -- but I should be debt-free. Well, excluding my student loan, but who counts that? I say should, because I honestly don't know -- and that is the point: I am no good with money.

One of my earliest memories is of my father taking me to our local bank to open a savings account. Even as a child I would blow all my pocket money on sweets and magazines -- and the [pounds sterling]10 opening balance never grew by much.

At 16 I got a job at Topshop, where an added benefit was a 25 staff discount. However, at 18 the staff discount card turned into a staff credit card -- marking the beginning of my decline: spend now, worry later.

When I started a degree a year later I thought little of the [pounds sterling]12,000 student loan I was running up over its course, or the [pounds sterling]2,500 chunk I had eaten out of my first overdraft. That's not to mention a couple of credit and store cards I had also accumulated.

I was confident that once I started my career I would be able to pay it all back with ease. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.