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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.
This week: a marketing manager who makes $68,000 per year and spends it on very large croissants.
Occupation: Marketing Manager
Industry: Financial Services
Age: 28
Location: Los Angeles, CA
Salary: $68,000/year (mine) + $118,000 (partner's)
Paycheck (2x/month): $1,866 after taxes and deductions
Industry: Financial Services
Age: 28
Location: Los Angeles, CA
Salary: $68,000/year (mine) + $118,000 (partner's)
Paycheck (2x/month): $1,866 after taxes and deductions
Monthly Expenses
Housing: $2,200/month to rent a dated two-bedroom, two-bathroom apartment with no laundry and one parking spot in a nice neighborhood. My husband handles all of the expenses related to the apartment, including rent and utilities. We used to own a small condo, but we sold it two years ago at a nice profit with the idea of upgrading to a house. We are still living in the "temporary" apartment with no end in sight, since the housing market here is crazy and you get very little for a lot of money. We're planning on settling in, and waiting for a housing crash — which is an absolutely awful thing to wish for, but seems to be the only way we will get our foot in the door.
Loan Payments: $750/month for two new cars plus $120 for husband's student loans. He handles all three expenses.
Housing: $2,200/month to rent a dated two-bedroom, two-bathroom apartment with no laundry and one parking spot in a nice neighborhood. My husband handles all of the expenses related to the apartment, including rent and utilities. We used to own a small condo, but we sold it two years ago at a nice profit with the idea of upgrading to a house. We are still living in the "temporary" apartment with no end in sight, since the housing market here is crazy and you get very little for a lot of money. We're planning on settling in, and waiting for a housing crash — which is an absolutely awful thing to wish for, but seems to be the only way we will get our foot in the door.
Loan Payments: $750/month for two new cars plus $120 for husband's student loans. He handles all three expenses.
All Other Monthly Expenses: My husband and I maintain separate finances. To make up for the discrepancy between our salaries, we loosely divide up what we pay for. My spending typically includes the following each month:
Daughter's College Fund: $400 (My husband also contributes)
Savings: $500 (at minimum)
Pre-School: $479, which covers two mornings per week. (Our extended family very generously provides childcare for free.)
401(k): $418, deducted from my paycheck.
Roth IRA: $250
Orthodontist: $250 for my monthly Invisalign payment.
Gym Membership: $82
HBO: $14.99 (for the add-on subscription to our Amazon Prime account)
Netflix: $9.99
Microsoft Office: $6.99 subscription on our shared family laptop
Charitable Giving: $15 recurring gifts to Planned Parenthood and EMILY's List
Daughter's College Fund: $400 (My husband also contributes)
Savings: $500 (at minimum)
Pre-School: $479, which covers two mornings per week. (Our extended family very generously provides childcare for free.)
401(k): $418, deducted from my paycheck.
Roth IRA: $250
Orthodontist: $250 for my monthly Invisalign payment.
Gym Membership: $82
HBO: $14.99 (for the add-on subscription to our Amazon Prime account)
Netflix: $9.99
Microsoft Office: $6.99 subscription on our shared family laptop
Charitable Giving: $15 recurring gifts to Planned Parenthood and EMILY's List
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