Section One: Assets and Debt
Retirement Balance: $131,558 total
-a rollover IRA from my first employer at $24,908.
-a traditional IRA I opened when my second employer had no retirement plan with $23,365
-Current employer 401K with 4% match, me contributing 7% at $83,285
Savings account balance - $4047
Checking account balance - $3894
Credit card debt - $1558
This is a much higher balance than normal because I got new tires on my van ($985) last week. I normally keep it under 1% utilization and never carry a balance. I recently used affirm for two purchases (mattress and vacuum) since it was 0% payoff over 6months. I wasn’t sure if it was better to use a points CC but I wanted to try having the monthly payments per product.
Student loan debt - $9525
I went to a private out of state university and graduated in 2009 with a BBA in Information Systems and Management. The arrangement for college was that my parents would pay for 4yrs instate tuition, and anything else I needed to make up the difference for which ended up being about $50,000. Scholarships and selling my car took the balance down to $30,000 - I got some in Sallie Mae / Navient loans at around 4-5% I believe and $14,050 from my parents loaned to me at 0%. They divorced and agreed I would pay each of them $7025. My mom gave me an additional $2500 after graduation to make a dent in the Sallie Mae loan. I paid off the government loans when I turned 25, and paid my mom her $7025 in 2019. I still owe my dad $7025 and my mom $2500 - both at 0%.
Autoloan - $18,197
I owe $18,197 on it, and it has about $7,000 of materials / equipment in it. It’s a camper van and I most use it for weekend travel adventure mobile since I work from home.
Other - $28,522
-equity awards from my current company at $5,357, (currently have 1,332 unvested RSUs with current market value of $27,000 not reflected here and set to vest throughout the next two years if I stay. I never consider this my money until it vests but if there is advice or info around unvested equity, I’m all ears)
-investment account with Fidelity in ETFs at $17,051
-Bitcoin - $4200
-Apartment deposit - $2400
Section Two: Income
Income Progression:
My very first job was at an children’s play center and I remember working about 4 hours a week and having paychecks for $30ish. My dad told me he would lend me the money to take a life guarding course - he was trying to show me how investing in a skill can lead to more income. For the rest of high school I worked as a lifeguard and make close to $12/hr i think. With the shifts, you could work all week and paychecks were really rewarding. In college, i got a job at the office of information technologies and i am still on that path today. I worked 16hr/wk and made $15/hr. This job got me my internship in nyc junior year.
Since graduation in 2013, I've worked in my field for 8 years. My starting salary was $68,500 in NYC in 2013 working for a broker dealer. I was really paranoid about student debt so I also picked up a night shift as a bar tender to make extra cash one summer and then did work assisting a visually impaired neighbor with housekeeping for $ each week. Money from moonlighting went directly to student loan payoff. At work-work, I was promoted after two years and got a raise to $87,500 as a manager. I requested to be a remote worker and was denied, so I left in 2017. I transitioned to a consulting firm for one year and made $100,000 but really did not like the billable hours, travel to unappealing cities, and heavy finance industry role ("I'm tired of making people with money more of it" was something I said to my dad as we reviewed my options to look elsewhere).
I found a company in financial services but focused on helping underbanked / thin filed customers build credit by offering fair rates based on proprietary algorithms for credit worthiness, so they can avoid predatory lenders who will take collateral and never report to credit bureaus. The job was based in Dallas with an $80,000 salary, but I was offered the ability to work remote from nyc. The flip to a more socially driven company, ability to work remote, and exit from my toxic consulting stint was enough for me to take the paycut. Ive been here for 4 years, and now have a base of $115,000 and from past years a 8-12% cash bonus and additional RSU awards vesting over 3 years (like I said, I never count this money bc I assume I could leave before it vests) . This salary is a recent bump - When I requested to be relocated to Montana, my HR “business partner” was insisting that my salary be reduced by 6% based on a calculation they couldn’t share with me. I refused to sign anything without proper justification. It got escalated to the Chief HR and she said they had to do a full compensation review. It was determined based on my responsibilities, I had been underpaid all along and my salary would be going up as a result of the review, even with the relocation reduction factored in. I went from $106,000 to $116,000. I felt a little sheepish and disappointed during those discussions that the company preached equal pay for women and caring for employees but this showed I had been lagging in salary compared to colleagues. I knew the wages were low for the industry but understand that as part of this companies mission - for ex, we are based in the Bay Area and there are regularly requests for more Bay Area perks but they are declined bc we don’t want to be flashy to our customers or exclude what used to be a 40% remote workforce, executive salaries are public and lower than competitors, etc) i also felt proud that I didn't backdown when HR was pressing me that my move meant I should be paid less without any other considerations or discussions. It was difficult, but a really good lesson in me advocating for myself when my value was being questioned and understanding that I have the power to walk away if they don’t see it.
Main Job Monthly Take Home:
Gross Amount: $8846
401K Deferral: $970 ($618 from me, $352 from employer)
Dental, Medical and Vision Insurance: $105
Net Amount: $6176
Section 3: Expenses
I use Mint for budget tracking and this is my monthly breakdown:
Rent- $1825, 2 bedroom apartment so I can have bedroom and home office. This is on par with what I paid in NYC but the quality and amenities are much better. I am happy here / have the option to take on a roommate l to lower the cost.
Gas-$100.
Utilities-$75
Phone-$65
Dog-$200 - grooming, food and pet insurance.
Grocery-$360. I have an annual CSA that breaks down to $120/month for summer months and I order $150 of meat from butcher box to have throughout the month and then spend about $35/week at the store to fill in any gaps. The last month I’ve been ordering 8 Factor meals for $70/week and I am not going to continue with that.
Restaurants-$350. I try to only dine out for dinner 2x a week and coffee/alcohol for special occasions. However, since im new to town and trying to date / make friends, I allow myself to be flexible with this to make sure im not closing myself off from social opportunities.
Yoga Membership-$110. This has been helpful so much with back pain and meeting people in the area.
Car Payment-$450
Car Insurance-$180. I need to get this lowered
Vacation-$400. I’m prioritizing some bucketlist hikes in the intermountain and pnw region during these warmer months and in the colder months this goes toward ski trips or flights to see family back east.
Entertainment-$300 - this month includes a SUP paddle board.
House items - $250 - I downsized a lot when I moved. Like one plate, one spork, one cup. So I’ve been slowly furnishing my apartment. This month this includes Tupperware and cleaning supplies as well as Affirm payments for my mattress and vacuum to be paid off in 6mo at 0%.
$1000 savings
$500 investments
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Sunday, July 4th: 8:00AM. Woke up a little tired after a BBQ last night, but needed to get things packed to go floating on the river. People we met last night invited us to join them on a river float and that is one of my favorite outdoor activities because it is so relaxing :) I had coffee at home and then packed my dog to meet at C's house. I stopped for gas on the way ($48.22) in case my van was needed to shuttle gear and picked up two coffees and two croissants for me and C ($15.10). 6:00PM. It was a great day on the river - even saw a bald eagle! I left all my stuff in the car and spent the day swimming and relaxing. I had craft seltzers from when I was in San Diego to share and really enjoyed meeting such a friendly group of people. Once we got back to C's, we were both pretty tuckered out from the sun. We decided not to meet up with the group downtown because the fireworks were scaring my dog and there were some wild storms. I ordered us pizza ($34.22) that we drove to pick up and we ate it then played Mario party most of the night. 12:00AM we put on an episode of Dave and I fall asleep just before it ends. I wake up as C turns off the television and catch a glimpse of my dog snuggled between us and feel so happy. These types of days are really special to me. $97.45
Monday, July 5th: 7:00am. A really lazy Monday off. I wake up to let the dog out and feed him. Then back to bed. I sleep until 10:30am which is very rare for me. I make a coffee there and C is struggling with a very bad sunburn. 12:30pm I drive him to CVS to get some aloe and then we went for lunch. He pays for our sandwiches and we take them home to eat. He was in no mood or shape to spend time outside (or in anyone’s company …) but he patiently taught me how to rig the fishing rod he got me for xmas so I could go practice casting on the lake. I spent about an hour doing that. 5:00pm Knowing my dog didn't get much exercise yet, I load him in the van and take him to a local trail for a 4 mile walk. I make a mental note that i need to stop at REI for bear spray… it is expensive but there are more and more signs warning of recent activity. Dog and I go home and I do house chores to reset for the week - sweeping, dishes, organizing, etc. 10pm. Shower, Netflix, bed. $0.
Tuesday, July 6th: Woke up at 6AM. I took my dog for a walk and had a phone call with my friend on the east coast. She has recently moved to NYC and we often chat about the events of making new friends at this age / dating in new cities / the importance of following your heart. I feel good after we hang up. I have breakfast and coffee from home and sat down to work at 9AM. During lunch, I have one of my Factor meals and do some online shopping - I need a new inner tube for my bike ($12.10). My friend recommended the book "The Art of Seduction" so i buy a 3 pack of Audible credits ($36.00) and download it. I work until 5:30P and take my dog for a walk again. It is so hot he doesn’t really want to go far. We go back home and I eat an apple and six strips of bacon from the fridge. Not good but no more Factor meals until tomorrow :/ I go to yoga and it feels good. 10pm. Shower and sleep. $48.10
Wednesday, July 7th: 8:30am. woke up sore from yoga and checked my Mint app. There is a $48.72 pet insurance charge for my dog. I start working and have a busy morning. The company is rolling out a new Outcome and Key Result tracking software and its lame how my boss can’t define success for me other than telling me to outline what I plan to achieve this year - I would really like more constructive and insightful feedback to challenge myself and feel like my contributions are connected to bigger goals. I snack on an apple and cheese slices since my meals aren’t here yet. 3p my factor meals get delivered so I take a break to unpack and have a late lunch. 6:30p I stop working and take my dog over to the dog park / walking trail for some exercise. When I get home I eat some dumplings and vegetables from the freezer and do laundry. I work on editing some videos from my recent road trip and renew my annual subscription for Splice ($80), buy an iTunes album ($7.99) and order cleaning supplies from Grove to stock my cleaning closet ($34). 10p take a bath and watch Netflix. Bedtime at 11p. $170.71
Thursday, July 8th: 8:30a Wake up. Coffee at home and walk the dog. I start working at 9:45a and have some timed tasks to complete within a specific window. 12:30p I head downtown to meet C for lunch. It hasn’t been a good morning and it’s nice to get some separation from the home office and sunshine. He gets us a meatball sandwich and a bahn mi sandwich. I head back to work feeling a little bit better. 5:30p. I feed my dog, grab some clementines out of the fridge for snack. I head to pick up my CSA box and meet my friend for U-pick flowers ($33). It’s hot so we make quick work and enjoy catching up since the holiday. I walk the dog again when I get home and prepare for an important meeting tomorrow. I am approaching my boss’s boss about shifting me to a different team and know I need to be concise. at 10p, i head to bed. $33
Friday, July 9th: Wake up at 4:30 feeling really sick. I can tell I’m anxious for my meeting today. I take some ibuprofen and sleep until 8:30, much better. I walk my dog to the coffee shop and call my mom. ($4.45). It’s payday today and I get an email from Mint alerting me to the deposits. I log into chase and pay $800 to the credit card bill. Autopay will take care of the rest of it in a few weeks. I sit down to work at 9:30a. The meeting with my boss’s boss goes well. I had concrete examples of the ways I felt isolated and unsupported based on the recent reorg, reiterated I have high hopes to stay at the organization and believe with some changes we can make improvements. I finish my workday at 5pm, walk the dog and head downtown to meet a bumble BFF match for happy hour. We have two beers each and it is great to chat with a new pal. $15. Come home, walk the dog, take a bath and head to bed at 10:30p. $19.45
Saturday, July 10th: Wake up at 7:30am. Feeling sick again. I called for a doctor appointment a few weeks ago, but they were all booked out from Covid so I’m waiting for another week to see one. I make some eggs and coffee and take my dog to the park to run off leash. I love how much he loves it. I drop him at home and head to yoga class. Yoga class is so hard. It is hot yoga and it is hot outside and I just can’t believe how much I sweat. Afterwards, I go home and shower. I water my plants, have a factor meal and let the dog out before heading over to meet C to go paddle boarding. We pack drinks and fishing rods and enjoy a really nice day on the water. He catches a fish by accident and I don’t catch anything lol but I still have a great time. 7PM We go to a new ramen and Japanese small plate place downtown for dinner. I loved the crispy tofu and Brussels sprout appetizer. C takes the bill. I always feel a little uncomfortable with this, but we try to take turns. He is much more of a foodie than me so tends to run the ordering and I’m happy to sample whatever he recommends. It is really nice to be dining post-covid Bc this type of meal wouldn’t have been the same without the atmosphere and service of the restaurant. We go home to get my dog and then head to his place to watch tv. $0
Weekly totals:
Food + Drink. 178.77.
$68.77 in spending. The factor meals I ate throughout the week were $79. The CSA breakdown for this week was $31.
Fun / Entertainment $157 for video subscription, itunes album, audible credits and flower picking event.
Home + Health $46.10 for the bike tire and cleaning supplies.
Clothes + Beauty $0.
Transport $48.22 for gas.
Other 48.72 for pet insurance.
Reflection:
This week started off lower spending for me. I was planning to go to the Tetons for the weekend, but the heat is hard on my dog and I don't like crowds so I decided to postpone. Moving to a new town that is relatively small and during a pandemic has made making friends difficult, so when the opportunity to attend a BBQ with neighbors came about, I am proud of myself for prioritizing that. This saved me $$$ in gas and is an investment in my social life / happiness here :)
I also didn’t spend as much on food this week as I normally would. My friend recommended I try the Factor meals shipped to my apartment to help me with portion control and to limit food as I work on finding the culprit to some digestion issues. It is too expensive to me and too much packaging waste coming into the house each week. I'm ready to go back to meal prepping on my own. The CSA box is fun to support the local farm but next year I may hold off and visit them at the farmers market that way I have more control of what I get. It is not typical that I didn’t go to the grocery store at all this week or have a dining out expense.
I forgot that my 401K contribution rate was 7% - it used to be at 12%, but I lowered it last year thinking that 1. I was on track to have 1x salary in there by age 30 so it was ok and 2. I might want the money in a more liquid space for future down payment. This was a reminder to bump that up again and try to get closer to the max... i think? My next goal was to have 2x by 35, and I am still on track for that without increasing my contribution. I struggle with knowing the tradeoffs in this area. Same goes with the loans from my parents - if I keep the money and use it for down payment next year and then work on paying them back or vice versa given the advantages of home equity.
I realized I’m not as on track for financial goals as I want to be. I hope to have at least $50,000 down payment by next summer but I’m too lenient on travel and entertainment spending and might not make it. If I sell the van, I will, but I think there is a way to tighten up spending and do both. i also know that my earnings could be higher if I pursued a grad degree or switched companies, but I’m pretty content where I’m at. Even with slight stress at work this week, it is an exception and I have peers whose health and happiness seem to take the backseat to career success and that isn’t my style. I like that I am fully remote (precovid and no expectation to ever be near an office) and can shut off work at 5pm / take a mental health day when I’m overwhelmed. With the recent issues with my new boss though, I plan to brush up my resume and do some light searching esp Bc more companies allow remote work now.
I am happy with the amount of balance in my life. I grew up in a household where money issues felt like a looming shadow and there have been times where I feel really extreme anxiety around spending money on basic things. I think that stemmed from being unhappy in NYC and feeling like I had to spend money on things I didn’t like, but I’m more than happy to spend $ on experiences and gear like a SUP when it means I can go on weekend outings with new friends and enjoy my new home. It is hard being a solo income with rent being so expensive, but I also feel proud to be self sufficient and hope to continue working to build a safe and happy foundation for a nice life here.
