Occupation: Project manager
Industry: Housing
Age: 31
Location: New York, NY
Salary: $90,395
Joint Income/Financial Setup: I live with my partner, E., whose income is $87,000. Our expenses are mostly separate, but we have a joint account that we contribute to monthly for our rent and a few other shared expenses. We use Splitwise to track our spending and settle up with each other each month.
Assets:
401(k): $78,134 (including current job and all previous jobs)
Roth IRA: $11,973
NYC Employee Pension: $11,151 (more on this later)
High-Yield Savings Account: $394. (This was hovering around $30,000 for the past several years, and the majority of it recently went to my share of a down payment for the apartment my partner and I are working toward purchasing! We’re in contract and hoping to close on it any day now.)
Debt: $0
Paycheck Amount (every two weeks): $2,140 (This is after deductions for union dues, FSA plan, tax and retirement savings).
Pronouns: She/her

Monthly Expenses

Housing Costs: I contribute $1,925 to our shared account each month. This covers my share of our rent, utilities, internet, our shared subscription to a local news source, and a small ‘slush fund’ for other shared expenses.
Loan Payments: $0
Other monthly expenses:
Tidal music streaming: $10
iCloud storage: $2.99
Contribution to my local public radio station: $5
Contribution to my goal of donating 1% of my salary to charity each year: $75
Other reoccurring expenses:
Chewy order of food and litter for our cat: $114 (every seven weeks)
Annual Citibike membership: $240 (reimbursed by my healthcare!)

Was there an expectation for you to attend higher education? Did you participate in any form of higher education? If yes, how did you pay for it?
Yes, my parents both attended college and worked hard for my brother and me to attend it at no cost to us. I qualified for financial aid and held a work-study job throughout college. I can’t overstate my gratitude for graduating debt-free and hope to provide the same for my kids one day, though that seems to be getting much harder to achieve in today’s economy! I went back to school for a Master’s degree, which I paid for myself with savings, scholarships, part-time work during school, and a loan that I have now paid off. I feel proud of myself for accomplishing that on my own.

Growing up, what kind of conversations did you have about money? Did your parent(s) educate you about finances?
We didn’t talk much about money, and I wish we had done so more! However, I do remember learning from my parents how to write checks and balance checkbooks as a kid, how to save over time for bigger expenses, and how to establish a good credit score after I graduated college and got my first credit card.

What was your first job and why did you get it?
I worked at a snack shack at a local country club the summer after my senior year of high school. It paid minimum wage and helped me to build up some savings for things like books, laundry, and fun activities as I started college. I borrowed my mom’s car to get to and from the job.

Did you worry about money growing up?
No, and I recognize the enormous privilege that comes with that. My parents settled in the city where they both grew up, which has a very low cost of living. They’ve told me they struggled with money before I was born and when I was young, between IVF treatments, fixing up their old house, paying for our Catholic elementary school and activities, etc., but their earnings had increased substantially by the time I went to college. I had the privilege of attending an independent private school on a half-tuition scholarship for middle and high school.

Do you worry about money now?
Yes! New York City is SO expensive. I use my partner’s subscription to the software You Need A Budget (YNAB), which helps me keep track of everything. It will be a huge win and relief for us to — hopefully! — close on this apartment soon, which we are only able to afford because it is regulated by the City essentially as ‘affordable housing for the middle class.’ But it will be a substantial increase to our monthly housing costs, the apartment needs work, and I worry about how we will pay for things like a wedding and childcare in the future.

At what age did you become financially responsible for yourself and do you have a financial safety net?
I started renting my own apartment (with my dad’s co-signature) at 22, and got my own healthcare plan at 26. My parents still pay for my cell phone plan, and I’m lucky to know they would support me if I absolutely needed it, but I prefer to be financially independent.

Do you or have you ever received passive or inherited income? If yes, please explain.
No.