Welcome to Cash Diaries the place we’re tackling the ever-present taboo that’s cash. We’re asking actual folks how they spend their hard-earned cash throughout a seven-day interval — and we’re monitoring each final greenback.
This week: an lawyer who makes $150,000 per 12 months and spends a few of her cash this week on a brand new bit for her horse.
Occupation: Lawyer
Business: Authorized
Age: 32
Location: Philadelphia
Wage: $68/hour (~$150,000 this 12 months)
Belongings: $65,000 (unfold by numerous checking and financial savings accounts); $92,000 in retirement accounts (easy, conventional and Roth IRA)
Debt: $0
Paycheck Quantity (2x/month): Anyplace from $3,000 to $3,800.
Pronouns: She/her
Month-to-month Bills
Month-to-month Housing Prices:
Apartment Charges: $810 (contains water, fuel, entry to fitness center). I stay alone in a one-bedroom rental that my dad and mom bought after I began regulation college, however I took over all of the funds after I graduated and began working.
Month-to-month Mortgage Funds: $0
All Different Month-to-month Bills:
Apple Music: $11
Sirius XM: $6
Farrier: $287
Horse Dietary supplements: $92
Web: $35
Toyota Related Providers: $16
Board: ~$2,400
Electrical: ~$30 (varies relying on the climate)
Easy IRA: 10% of every paycheck goes on to my Easy IRA
Was there an expectation so that you can attend larger schooling? Did you take part in any type of larger schooling? If sure, how did you pay for it?
Sure. My dad and mom promised my sibling and me that if we attended undergraduate college in state, they’d additionally pay for grad college. I went to an in-state college for undergrad, and my dad and mom did pay for grad college. There was no expectation to go to grad college if I didn’t wish to, however I used to be positively anticipated to go to varsity.
Rising up, what sort of conversations did you might have about cash? Did your dad or mum(s)/guardian(s) educate you about funds?
We didn’t have many conversations about cash. I knew that we had been snug. I additionally knew that when my dad and mom wouldn’t purchase me one thing, it wasn’t as a result of we couldn’t afford it, however that they weren’t going to purchase me one thing simply because I wished it. They had been cautious to show me to be frugal and actually think about issues earlier than shopping for them.
What was your first job and why did you get it?
Camp counselor at an area camp the place I grew up. I came upon about it by a pal of my mom’s and utilized.
Did you are worried about cash rising up?
No.
Do you are worried about cash now?
A bit of. I’m snug now, however I picked a really costly interest as a baby, and whereas my dad and mom had been good sufficient to finance it sparingly by school, I used to be alone after I began creating wealth. I saved for 4 years after graduating regulation college to have the ability to buy a horse throughout COVID-19. I additionally horse present throughout the hotter months and sometimes have lots of bills associated to that that I’ve to consider when deciding whether or not I wish to buy one thing not in my month-to-month price range.
At what age did you grow to be financially liable for your self and do you might have a monetary security web?
After I graduated regulation college at 26. My dad and mom very generously supported me by regulation college, and nonetheless sometimes pay for issues, however I’m just about alone. If one thing had been to occur although, they’d don’t have any downside supporting me financially, though I’ve a wholesome financial savings account.
Do you or have you ever ever obtained passive or inherited revenue? If sure, please clarify.
Sure, when my sister and I had been born, we obtained treasury bonds. We in all probability obtained one or two yearly till my nice grandparents died. They’ve intensive maturity charges, so that they have solely come due within the final 5 years or so. The final time I cashed in some bonds, it got here as much as about $3,000.
Day One
7:30 a.m. — My alarm goes off and I get away from bed. After making some espresso, I browse the web for about an hour earlier than getting a Greek yogurt out of the fridge for breakfast. After brushing my enamel, I open my work laptop computer and undergo any emails I missed after I signed off for the day yesterday.
9 a.m. — I log onto Zoom to begin a gathering with a crew I’m working with for a consumer’s mission. I’m anticipating two different folks to go online, however just one does. We resolve to get began, although we each want the third particular person to log off on the adjustments we’ve made to this mission.
10:30 a.m. — Our assembly ends with out the third particular person becoming a member of, however I feel we’ve managed to reply a lot of the questions we had. I ship an electronic mail to the third particular person outlining the adjustments we made and reiterating the questions we had in hopes they’ll reply.
12 p.m. — I don’t really feel like placing a lot effort into lunch, so I make a pre-made ramen noodle dish and browse Reddit whereas I eat.
1 p.m. — I spend the remainder of the work day reviewing and enhancing the identical mission.
5:30 p.m. — I nonetheless don’t really feel like cooking, so I pull a frozen single serving lasagne out of the freezer and have that for dinner. I hold a couple of frozen meals within the freezer for the instances the place cooking looks as if a chore. I turned on the Phillies recreation midway by and watch them win. After the sport ends I spend the remainder of the evening watching Monk, which I by no means watched initially when it was out. I brush my enamel and wash my face with a Cetaphil cleanser earlier than making use of a retinal and going to mattress round 9:30 p.m.
Every day Whole: $0
Day Two
6 a.m. — I crawl away from bed at 6 a.m., as I do each Tuesday. I board my horse, Y., about an hour outdoors Philadelphia with my coach. My job permits us lots of flexibility in our work hours, and so they don’t thoughts me working half days on Tuesdays, so I can take a lesson with my coach within the morning. I make a small espresso, brush my enamel and placed on sunscreen. I throw on a pair of breeches and a tech shirt, seize a jacket, after which am out the door by 6:40 a.m. to be able to beat the visitors out of town.
7:30 a.m. — I arrive on the barn and park proper by Y.’s stall. He has a window to the surface, so I spend a minute saying hey to him till he will get his breakfast from one of many barn workers and abandons me for higher issues. Whereas he’s consuming, I get my tools collectively, brush him off and tack up. I’ve a productive lesson with my coach, and by the tip, I can really feel it in my abs and hip flexors. My coach and I focus on probably altering Y.’s bit, and the bills for a present we’re planning on attending in Ohio. I haven’t submitted my entry for this present but, however I do know this can in all probability be the costliest present of the 12 months, simply because of the expense of hauling the horses to Ohio.
10:45 a.m. — After I end up on the barn, I cease at Wegmans on my method house. I buy a cantaloupe, 1 / 4 of a watermelon, a can of chickpeas, farro, two lemons, an onion, dried mango, dried apples, a rooster Caesar sandwich for lunch, and a mini quiche. I don’t want the quiche, however procuring hungry is at all times a nasty alternative. $93.71
12:30 p.m. — After I bathe, I sit down with my sandwich and on-line store for bits for Y. I would like the identical mouthpiece with a unique cheekpiece, and discover it on a couple of totally different web sites. The model’s web site has the bit out there for a seven-day trial, but it surely’s the costliest. I lastly determined to buy it from the UK with a 30-day trial. That can give me time to attempt it out with Y. between the bit arriving and the present I’ve at the moment scheduled on the finish of the month. $133.10
1 p.m. — As I’m going by my work emails, I see a reminder from our workplace supervisor to buy our lawyer’s licenses for this 12 months and ship her the receipt. I cringe after I put it on my bank card as a result of it has positively gotten costlier, however I do know it is going to be reimbursed. I spend the remainder of the day reviewing and enhancing a big mission for my consumer. $282.56 (expensed)
5 p.m. — Utilizing the elements I purchased as we speak, I make a chickpea and farro salad that ought to final me the remainder of the week. I watch the Phillies beat the Blue Jays after which go to mattress early like I normally do on Tuesdays.
Every day Whole: $226.81
Day Three
7:30 a.m. — I debate staying in mattress for a short while longer, however resolve it gained’t be any good if I don’t keep on with some form of routine. I take my time making espresso and shopping the web earlier than brushing my enamel.
9 a.m. — I eat a yogurt whereas I verify my electronic mail. As soon as I reply to some folks I flip my consideration to the mission. I’ve been engaged on it for months, and we should always lastly be completed with it on Friday. Till then I give attention to ensuring what I’m liable for is full.
12 p.m. — Whereas I eat the chickpea and farro salad I made yesterday for lunch, I do some on-line searching for black denim shorts. I made plans with my dad to attend a Phillies recreation later this summer time, and I purchased a brand new Phillies jersey a couple of months in the past that I actually wish to put on with black denim shorts. After a short while I discover what I’m in search of at GAP. I throw in a light-weight sports activities bra for low-impact train with it. $53.96
6 p.m. — I resolve to make the quiche I bought yesterday for dinner, and it takes about half an hour to bake. Whereas I’m ready, I tune into the Phillies recreation, which I then have to show off as a result of I can’t watch them battle towards the Blue Jays.
9 p.m. — I brush my enamel and placed on retinal, then climb into mattress and undergo my Kindle earlier than deciding on a e-book to reread. I learn for about an hour earlier than going to sleep.
Every day Whole: $53.96
Day 4
7:30 a.m. — Usual, usual. Consistency is essential. It’s additionally payday, so I take a look at my checking account to see how a lot I made this pay interval. I receives a commission an hourly charge, so my paycheck varies each time relying on how a lot I’ve billed. I can get a tough thought primarily based on what number of hours I’ve labored, minus all my taxes/healthcare/retirement deductions, however I by no means really feel like doing the mathematics. This pay interval I made somewhat further on account of receiving a cost from an outdoor consumer that will get utilized on to my paycheck.
9 a.m. — I put out a bunch of little fires with a few of my different purchasers. I spend lots of time emailing backwards and forwards making an attempt to solicit some extra info, however ultimately simply find yourself calling them to make clear what it’s they need. After that I spend the rest of my day reviewing and enhancing this endless mission, though I can see the sunshine on the finish of the tunnel.
5:30 p.m. — There’s no Phillies recreation on for me to observe tonight, so I browse Netflix (paid for by my dad and mom who generously allow us to use their account) and discover a heist film. It’s silly, however entertaining. As soon as it’s over, I channel surf for some time earlier than deciding I may simply learn. Do my nighttime routine after which learn for an hour or so. Asleep by 10 p.m.
Every day Whole: $0
Day 5
7 a.m. — I rise up early as a result of I am going into the workplace on Fridays with all my different coworkers so we will have a gathering concerning the upcoming week. After having some espresso, I brush my enamel, moisturize and sunscreen, after which placed on some minimal make-up (concealer, eyeliner, mascara). Throughout COVID-19 I acquired actually used to not carrying make-up, so I’ve actually toned down what I put on now. After throwing on denims and a printed sweatshirt with outlines of birds on it, I placed on a pair of diamond studs and my Apple Watch. It generally feels bizarre to be this informal going to a regulation agency after I used to put on enterprise skilled and heels to work on daily basis earlier than the pandemic. I’m very a lot in favor of this informal aspect. I placed on a pair of Bean Boots as a result of it’s threatening to rain, pack up my work laptop computer, and placed on a podcast for the 30-minute stroll to my workplace.
9:30 a.m. — I sit in a gathering with my colleagues for an hour earlier than heading to my very own workplace to get some work completed. My boss is available in to debate a secondary mission I’ve been serving to on for the previous few months. We go over the place we’re with a few of the gadgets and he leaves. I work for about two hours earlier than our payroll particular person comes down at hand me a reimbursement verify for my lawyer license registration (expensed two days in the past). We speak about politics for about an hour earlier than I can extricate myself from the dialog and head house to get lunch.
2 p.m. — I lastly end my long-term mission and spend a couple of minutes admiring it earlier than closing the doc and inputting my billing for the week. I attempt to do my billing each Friday so I can spend the weekend not serious about work.
6 p.m. — I watch the Phillies and name my mother to replace her on my plans for the weekend. Initially I didn’t have a lesson scheduled with my coach as a result of she was imagined to be at a horse present, however as soon as she was assigned her experience time, she texted and requested if I wished a lesson within the afternoon on Saturday. I normally experience early within the morning to be able to reduce the period of time I spend in visitors driving backwards and forwards, however I don’t wish to cross up a lesson. I do know I’ll find yourself staying over at my dad and mom’ home Saturday evening since they stay so near the place I board Y. The Phillies recreation ends late and I fall asleep proper after.
Every day Whole: $0
Day Six
8 a.m. — I sleep in somewhat since I don’t should be on the barn early. I do have an errand to run earlier than attending to the barn, so I pack up an in a single day bag and seize a bundle I have to mail. I’m out the door by 9:30 a.m.
10:30 a.m. — I wasn’t in a position to attend a pal’s child bathe (though I had initially meant to), however I did purchase them a present. I cease on the publish workplace on my solution to the barn and drop off the bundle to mail to them. I then slowly drive by the quiet aspect roads that result in the barn holding an eye fixed out for cops, since I do know they’re hyper-vigilant within the suburbs. I get to the barn and spend a couple of minutes cuddling Y., since I haven’t seen him in a couple of days. I’m solely in a position to experience three days every week, and pay for full coaching, so he will get coaching rides from my coach twice every week. I find yourself chatting with one of many different boarders about her new horse for some time earlier than getting myself prepared. My coach finally ends up operating somewhat behind, however we now have one other productive experience. Because it’s rained for the previous week, it’s too muddy for a few of the fields for use, so I find yourself hand grazing Y. for about an hour. $7.90
3 p.m. — After ending up on the barn, I drive the ten minutes to my dad and mom’ home. I may have pushed again to Philly, however the considered sitting in visitors after which looking for parking by my constructing wasn’t significantly thrilling to me. My dad and mom’ pets are thrilled to see me. I seize a fast bathe after which spend the remainder of the afternoon with my dad.
7 p.m. — My dad and mom have a dinner reservation, so I warmth up a frozen mac and cheese they’ve of their freezer and have that for dinner. I watch one other baseball recreation (not the Phillies) and find yourself watching the tip with my dad and mom after they return. All of us go to mattress after the sport ends round 10:30 p.m.
Every day Whole: $7.90
Day Seven
7:30 a.m. — I get up with out an alarm as a result of I can hear my dad downstairs making noise. I come down and make espresso and a few toast and meet up with my dad and mom.
9:30 a.m. — I head again to the barn from my dad and mom’ home to experience on my own. Y. feels good and I can inform the work we did yesterday had an impact. After our experience I hand graze him for about 20 minutes till the misty rain turns into extra of a drizzle. After I end up on the barn, I give Y. a fast cuddle then head again into town.
12:30 p.m. — I cease at Wegmans, which is a big mistake on a Sunday, however I want meals. I get a rooster Caesar sandwich for lunch, floor turkey, extra dried mango and apples, fruit fly traps, cotton pads, and a pack of tortellini. There’s surprisingly little visitors and I make it again to town and discover a parking spot in entrance of my constructing with out incident. $47.31
2 p.m. — After I eat lunch, I pay for my entry for a July horse present. I cringe somewhat as my bank card goes by, understanding that on prime of this, I’ll should pay further bills for transport, housing, meals, and my coach’s bills. This present will in all probability find yourself costing near $2,000 when all’s mentioned and completed. $628.28
2 p.m. — I additionally pay a further $60 for membership to the group that runs this explicit present to be able to entry their championship. $60
3 p.m. — And since I wanted to spend extra money, I chew the bullet and purchase a brand new set of protecting boots for Y’s legs. I had bought a less expensive set about two months in the past, however he’s already began to put on by them whereas using, so I resolve to see if the costly ones are well worth the hype. I get a (faintly disillusioned) electronic mail from my bank card firm telling me I’ve a big steadiness proper now. $198
6 p.m. — I make tortellini for dinner and watch Phillies lose to the Marlins in 10 innings. After the sport ends, I resolve to learn as an alternative of looking for one thing else to observe. I spend the remainder of the evening studying earlier than going to mattress round 10 p.m.
Every day Whole: $933.59
The Breakdown
Cash Diaries are supposed to replicate a person’s expertise and don’t essentially replicate Refinery29’s standpoint. Refinery29 on no account encourages criminal activity or dangerous habits.
Step one to getting your monetary life so as is monitoring what you spend — to attempt by yourself, take a look at our information to managing your cash on daily basis. For extra Cash Diaries, click on right here.
Do you might have a Cash Diary you’d prefer to share? Submit it with us right here.
Have questions on easy methods to submit or our publishing course of? Learn our Cash Diaries FAQ doc right here or electronic mail us right here.
Like what you see? How about some extra R29 goodness, proper right here?
A Week In Boston On A $118,000 Wage
