ADVERTISEMENT
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.
This week, we’re taking a look at the way interns are spending across the country. Internships can be a key way of getting experience, gaining entry into fields, and making connections, but not everyone has the ability — in terms of timing or finances — to make it happen. For those who do, managing an internship during the traditional work and school year, or working full-or-part-time over the summer can provide an exciting (or nerve-wracking!) preview of life after college.
Today: an advertising intern who makes $1,700 per month and spends some of it on Maybelline makeup.
Occupation: Intern
Industry: Advertising
Age: 22
Location: Toronto
Salary: $1,700/month for my four-month internship.
Paycheck (2x/month): $764.47 after taxes and deductions.
Industry: Advertising
Age: 22
Location: Toronto
Salary: $1,700/month for my four-month internship.
Paycheck (2x/month): $764.47 after taxes and deductions.
Monthly Expenses
Housing: $0. I'm lucky to have been able to move back home after graduating from undergrad. My goal is to pay off all of my student debt and save a few thousand before I move out, which I would like to do in 18 months or sooner.
Loan Payments: $400-$1,000
Housing: $0. I'm lucky to have been able to move back home after graduating from undergrad. My goal is to pay off all of my student debt and save a few thousand before I move out, which I would like to do in 18 months or sooner.
Loan Payments: $400-$1,000
All Other Monthly Expenses:
Netflix: $0. I mooch off a friend.
Phone: $0. I'm still on my parents' plan.
Spotify: $9.99
Insurance: $0. Still on my parents' plan.
Gym: $o. I use my mom's membership.
Savings: $50/week automatic transfer into a tax-free savings account. I'm still in the six-month grace period after graduation before I have to start paying my loans back, so I'm getting a head start by putting money into a savings account. My parents helped a lot and I worked part-time for three years through undergrad, and full-time every summer, so I only have $11,000 of debt for a four-year undergrad degree.
Netflix: $0. I mooch off a friend.
Phone: $0. I'm still on my parents' plan.
Spotify: $9.99
Insurance: $0. Still on my parents' plan.
Gym: $o. I use my mom's membership.
Savings: $50/week automatic transfer into a tax-free savings account. I'm still in the six-month grace period after graduation before I have to start paying my loans back, so I'm getting a head start by putting money into a savings account. My parents helped a lot and I worked part-time for three years through undergrad, and full-time every summer, so I only have $11,000 of debt for a four-year undergrad degree.
ADVERTISEMENT