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There is a series on the Refinery29 website called "Money Diaries." It profiles individuals of varying economic backgrounds and details their weekly spending habits.
It is apparent in reading these stories that one of the bigger issues in this country continues to be people spending way beyond their means and irresponsibly. Whether it's spending way too much on a vehicle or eating out every day, some people need to start taking control of their budgets.
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.
Today: a woman working in student affairs in higher education who makes $39,000 per year and spends some of her money this week on party cups.
Aaah SG, I'm inclined to give the young lady a break she's 22.
Lol, I too was a single 22 year old in NYC and yes, I partied.
It was new years eve of and she brought disposable cups. Lol. Personally i'm more concerned why she can't seem to make it to work on time.
Lol, I totally admit that at 20 I was not the epitome of responsibility. I had just finished college and ready to have fun.
I wonder what a MALE would spend of his $39k in NYC. Not be critical of the female gender, but she spent $168 in a week on clothing and beauty.
She could buy a used car for the $192.00 she spent on transport. She'd better get used to the $3 metro trips instead of uber.
I, too, am concerned she can't get up for work on time. REALLY? an alarm clock or two are cheap compared to the $168 she spent on beauty and clothes that she had to have. She needs a line item budget for clothes if she really does need clothes for work.
She definitely spends too much at Starbucks on coffee. She needs a coffee maker and Make her own, she'd save money. Nuff said.
The $97 for groceries is responsible.
I wint be Too hard on her for her get togethers with friends. I think many 20- somethings need to have "friend time", and shes reasonable about splitting costs for the partying. How else is she supposed to meet an eligible bachelor??
Maybe now that she sees it written down and tallied up, she'll start a budget and start saving money .
I wonder what a MALE would spend of his $39k in NYC. Not be critical of the female gender, but she spent $168 in a week on clothing and beauty.
S
lol so Galaxyhi, I have 3 male twenty some things. lol Sweet lord don't get me started.
I often wonder if folks here came out of the womb financially responsible from day one?? It think it's a skill like every thing else that has to be taught and learned.
I try to get my sons to "balance". right now I've won the 401K battle and that's about all. they are saving 10% of their salaries but sorry my 20's are not going to stay home on the weekend and "eat in" AND I love to cook so there usually a full meal at the house.
for example, Yesterday was football play offs, they gathered at a friends house for the games luckily they are close in age so two of them went to the same party but minion number 2 brought wings (50 bucks) minion number one brought 2 cases of beer. So yep, they dropped 100 bucks on entertainment.
Now I don't know if the young lady spends that every week, I'll go out and say no but I too was a typical gal after college. I liked to shop.
Also dating is expensive, again my kids don't really go to night clubs but my oldest took a young lady to see a broadway play. He really seems to like this one, on the other hand I asked the middle kid about his lady love and he said, and I quote "she's dead to me". anyhoo 300 bucks on tickets, dinner out (she picked up that tab) and parking. Ouch.
Some times life is the best lesson, for example when my son's where on my cell phone plan, they enjoyed upgrading to the latest and greatest. well last year I kicked them off, time for the little eagles to learn to fly. lo and behold guess what?? that apple I phone ain't so important now.
I don't see her as being totally irresponsible. she's paying rent and I'm sure other utilities.
lol so Galaxyhi, I have 3 male twenty some things. lol Sweet lord don't get me started.
I often wonder if folks here came out of the womb financially responsible from day one?? It think it's a skill like every thing else that has to be taught and learned.
I try to get my sons to "balance". right now I've won the 401K battle and that's about all. they are saving 10% of their salaries but sorry my 20's are not going to stay home on the weekend and "eat in" AND I love to cook so there usually a full meal at the house.
for example, Yesterday was football play offs, they gathered at a friends house for the games luckily they are close in age so two of them went to the same party but minion number 2 brought wings (50 bucks) minion number one brought 2 cases of beer. So yep, they dropped 100 bucks on entertainment.
Now I don't know if the young lady spends that every week, I'll go out and say no but I too was a typical gal after college. I liked to shop.
Also dating is expensive, again my kids don't really go to night clubs but my oldest took a young lady to see a broadway play. He really seems to like this one, on the other hand I asked the middle kid about his lady love and he said, and I quote "she's dead to me". anyhoo 300 bucks on tickets, dinner out (she picked up that tab) and parking. Ouch.
Some times life is the best lesson, for example when my son's where on my cell phone plan, they enjoyed upgrading to the latest and greatest. well last year I kicked them off, time for the little eagles to learn to fly. lo and behold guess what?? that apple I phone ain't so important now.
I don't see her as being totally irresponsible. she's paying rent and I'm sure other utilities.
Lol eliza, i soooo love you.
Yes, the boys may party hardy, but unfortunately due to what, chivalry(?), he is supposed to pick up the check for a date, nice that she helped.lol.
Yes. I was never caught up inthe apple phase, i HATE Apple products. My first smart phone was a Motorola. This second one is a cheapy $10/m ( 2 yrs) Samsung @Verizon. I've always thought that kids should have their own plan @21 at least.
My point was she had a mani or a pedi, she just couldn'tpass up a new make up kit ( wonder how many she has?), and etc.. I know many women who buy a new make up kit every week.
Now if you said your boys always went for the $125 "do" at the parlor every week, id say they have a problem. It didnt mention her hair care costs, she was to busy being late for work, lol.
You didnt say if your boys are living on $39k ( you dont have to) or not.
I think part of the 20-somethings "spendiness" comes from having mom and or dad saying "no" to a lot of thibgs as they grow up, so they figure and get into the " its my money now, I'll spend it any old way i want" syndrome.
Ah, to be so young and carefree again...not.
I EARNED being old and gray...the very hard way, as you know my life has not been easy...
I wonder what a MALE would spend of his $39k in NYC. Not be critical of the female gender, but she spent $168 in a week on clothing and beauty.
Guys spend a lot on trying to be attractive too. All the money "saved" on beauty is spent on paying for dinner dates, especially with expensive drinks and cabs. And wardrobe costs for a guy are not $0 either.
Quote:
Originally Posted by galaxyhi
She could buy a used car for the $192.00 she spent on transport. She'd better get used to the $3 metro trips instead of uber.
The cost of owning a car in NYC is unlikely to be much below $192.00 per week. If you think it is cheaper, that's because you aren't accounting for all the costs. Parking alone can be $100 per week easy, and then you have to pay for gas, insurance, maintenance, repairs, and eventual replacement.
Quote:
Originally Posted by galaxyhi
I, too, am concerned she can't get up for work on time. REALLY? an alarm clock or two are cheap compared to the $168 she spent on beauty and clothes that she had to have. She needs a line item budget for clothes if she really does need clothes for work.
She definitely spends too much at Starbucks on coffee. She needs a coffee maker and Make her own, she'd save money. Nuff said.
The $97 for groceries is responsible.
I wint be Too hard on her for her get togethers with friends. I think many 20- somethings need to have "friend time", and shes reasonable about splitting costs for the partying. How else is she supposed to meet an eligible bachelor??
Maybe now that she sees it written down and tallied up, she'll start a budget and start saving money .
( i didn't read the California one, thats next).
Realistically, you aren't going to be saving very much on that salary in NYC unless you are mooching off family members for free rent, etc. Maybe a few thousand $ a year at best. Which is just enough after a few years to afford to move out of NYC!
The cost of owning a car in NYC is unlikely to be much below $192.00 per week. If you think it is cheaper, that's because you aren't accounting for all the costs. Parking alone can be $100 per week easy, and then you have to pay for gas, insurance, maintenance, repairs, and eventual replacement.
God forbid you have a car note or car lease on top of that!!
I've always thought that kids should have their own plan @21 at least.
This stood out to me - may I ask why? I don't see any issue with people remaining on family plans as long as they can, as long as they are paying their way. I had my own plan for many years. Lost an employer discount (they finally caught up to me two years after I'd left that company lol), and my phone bill almost doubled. I started looking into ways to lower my bill, and found that if I ported my line into my mom's family plan, my portion would be $75. HALF of what I would pay to be on my own account, for the same provider, and a better plan. Seemed pretty insane not to do it.
That was 4 years ago, and I have faithfully paid my portion every month. If I decide I want to get a new phone and change my payment, that's on me. In fact, I've stopped my mother from paying my portion several times.
I don't see any reason why I shouldn't pay the lower amount being on a family plan just because I'm much older than 21. I read this series regularly and this is a common comment. I think people get mad when diarists are on a family plan and don't contribute, but they don't articulate it that way. I'm proud to be on my mother's plan - it's a good financial decision that saves me a lot of money every month.
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anyhoo 300 bucks on tickets, dinner out (she picked up that tab) and parking. Ouch. 
