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A Month In NYC On A $68,000 Nanny Salary

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    Welcome to Money Diaries, where we're tackling what might be the last taboo facing modern working women: money. We're asking millennials how they spend their hard-earned money during a seven-day period — and we're tracking every last dollar. (Thanks, New York mag, for the inspiration.)

    For our 74th money diary, we asked a millennial in New York City to track a full four weeks. Today, a 23-year-old nanny and teaching assistant, taking care of two rowdy kids.

    Industry: Full-time nanny and teaching assistant at NYU
    Age: 23
    Location: New York City, Financial District
    Salary: $65,000 as a full-time nanny (includes a 5K minimum guaranteed cash bonus) + about $3,300/year teaching 2 semesters as a TA
    Paycheck amount: $816 four times a month for nannying (any overtime I get in cash); anywhere from $140 to $205 twice a month as a TA (paycheck amount depends on whether I attend any lectures, which isn’t required for my position)
    Number of roommates: 2

    Monthly Expenses
    Rent: $1,300 (my share of a three-bedroom in the Financial District)
    Loan payments: $0 for now because my parents are paying with what’s remaining in my college fund, but that will end soon
    Utilities: Anywhere from $50 to $75 per month, depending on how much electricity we use (this is my half of the total)
    Cable and internet: $49.50 for my half of the total
    Transportation: $0 monthly, I pay as I go
    Phone bill: $0, I’m on dad’s plan
    Health insurance: $0, still on dad’s plan until 26
    Spotify: $9.99
    iCloud storage: (Why do I do this?) $1.99

    Savings: About $800/month; usually $400 in savings and $400 in Roth IRA; I put $200/week into my long-term savings and put half of that into my Roth IRA at the end of the month.


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