Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking every last dollar.
Today: an accountant who is currently unemployed and who spends some of her money this week on a present from her best friend’s baby registry.
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Occupation: Unemployed
Industry: N/A
Age: 34
Location: New Jersey
Salary: $0 (income earned from last role: $54,040).
Assets: Employee stock plan: $1,186.60; restricted stock: $78,570; retirement investments: $64,444.23; EFT investments: $1,307.61; HSA contributions: $36.38; savings contributions: $1,978.76
Debt: Credit card debt: $15,213.32; student loans: $14,876.
Paycheck amount: $659 per week, from unemployment.
Pronouns: She/her
Monthly Expenses
Housing costs: My monthly rent is $1,426.56 and I live by myself.
Loan payments: $0 (I don’t have any monthly loan payments because my student loans are currently in deferment and I also opted for the income-driven plan, since I’m currently not earning a lot of income).
Renter’s insurance: $17.01
Car insurance: $183.40
Blog subscription: $23
Disney+: $20.24
Apple iCloud storage: $2.99
Google Cloud storage: $1.99
Adobe: $13.85
Sprint phone bill: $105.07
Electricity: $50
Internet: $75
Tithes: $450
Savings: $140
Credit cards: $215
Auto/transportation: $300
Life insurance: $152.28 (this is semi-annual).
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?
I was not expected to attend higher education. My mother never sat me down to have a conversation about attending college. It was a given that I wanted to go, based on my own perception of the world and success. I believed that to have financial stability and a career, higher education was a minimum requirement. In my high school you were a lame if you didn’t go to college. I attended a total of three different schools. Right after school I went to an in-state HBCU and since it was a private school, that is where I incurred most of my student loan debt. I only went there for a year and then transferred to a local USC campus for a semester and racked up a little bit of student loan debt there. I only went there for a semester because I had to drop out of school since I could no longer afford it. I paid for both schools via financial aid, grants, student loans etc. After that semester at USC, I moved to NYC to stay with my family to work and save money to go back to school and ended up graduating with a bachelor’s in accounting from Brooklyn College. I did not have to take out any loans while attending Brooklyn College. NYC provided a generous amount of financial aid and grants since I was considered a low-income student. Also, the cost for a CUNY school was very affordable for New York state residents.
Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
I didn’t really have conversations about money growing up unless my mother provided an explanation for why she couldn’t afford to buy something that seemed like an obvious want and not a need. My mother couldn’t really educate me on finances because there was a lot she didn’t know and she had to learn from her mistakes as she was raising me and my sister. Unfortunately, both of my mother’s parents died when she was young so there was a lot she and her siblings had to learn through trial and error. The lessons I’ve learned about money come from watching her mistakes while I was growing up. I learned the importance of credit when she wasn’t able to co-sign a student loan for me to attend school out of state. I learned the importance of always saving for a rainy day when I had to work for a year and a half to save money to go back to school. I learned about personal finance my freshman year in college when I had to take personal finance as a prerequisite course. Anything else I’ve learned was by reading articles and books, listening to podcasts when they became a thing, and being curious enough to ask questions of people who seemed knowledgeable.
What was your first job and why did you get it?
My first job was as a sales associate at the Banana Republic Factory store when I was 16. I got the job to help at home with bills and to supplement upcoming expenses for my junior year in high school.
Did you worry about money growing up?
I worried about money a lot growing up. Before I could even think of asking my mother for something, I had to decide if it was a want or a need and consider the time frame during the month I was asking. I’ve always understood the concept of when rent is due and how often utilities are paid because my mother would be very transparent. I’m not sure if it was a good or bad thing. I guess it was good, in a sense, that she wanted to explain why she had to tell me ‘no’, so I could understand prioritizing necessities and not take it personally. But on the other hand, it did create a level of worry and concern at an early age that I still kind of deal with as an adult.
Do you worry about money now?
Yes, I worry about money all the time. It consumes a lot of my thoughts because I am currently looking for work and not in a financially stable place at the moment. Plus I have this cloud of credit card debt over my head that feels very overwhelming to think about at times and makes me question the decisions I’ve made along my journey — but all I can do is take the lessons I’ve learned and do better going forward. I think about my financial future a lot and question if I will ever get ahead, instead of feeling like I’m always catching up. Don’t get me wrong, the necessities are always taken care of; what concerns me is the debt that I’ve accumulated over time to supplement not enough income.
At what age did you become financially responsible for yourself and do you have a financial safety net?
I would say I became financially responsible for myself when I turned 16, which was when I got my first part-time job working in retail. I remember one summer I had two part-time jobs to make sure I had enough saved for senior year and to prepare to go to college and live on campus. From that point on, when it came to my cell phone, clothes, food or whatever expenses I had, I was completely responsible for paying the bill. Not because I wanted to but unfortunately my mother could only afford to pay for necessities like rent, electricity and food. I remember in high school when me and my sister got our first car that we shared: We put up the money for the down payment, split the monthly payments and paid for insurance, gas and upkeep. My mother could not afford to do that since she was a single mother of twin girls not earning enough to provide outside of what we needed. Right now, I have an exceedingly small safety net: It’s not as much as it used to be but it’s better than nothing. Unfortunately, I had to use all of it when I quit my job during the pandemic without a backup plan. Since then, I’ve been working contract/freelance roles and it’s been hard to keep a decent safety net during the slow months.
Do you or have you ever received passive or inherited income? If yes, please explain.
Yes, I receive passive income on a quarterly and annual basis. I previously worked at a fintech company for almost six years and was awarded stock options with my annual bonus each year. I exercised those options when I left the company so I receive quarterly and annual dividend payments.
Day One
10:30 a.m. — I wake up so tired from getting home late from a friend’s cookout last night. Today feels like a day that I want to enjoy doing absolutely nothing. I lie in bed watching YouTube videos until about 12 p.m, then I get up and shower. It’s a beautiful day out so I want to go grab something to eat.
1:45 p.m. — I go to pick up my food at this local vegan restaurant. I’m not vegan but I love their sweet potato burger and am in the mood for something good and healthy. The burger comes with a side salad and I also have a side order of sweet plantains. After eating I sit in a local park to relax and enjoy the views of NYC from northern New Jersey. $21.11
4:30 p.m. — It starts to rain so I leave and head back home. Around 5 p.m. would be considered dinnertime for me but I’m not that hungry, so I skip dinner and enjoy watching a sitcom on Hulu.
7:30 p.m. — I chat on the phone to a close friend, catching up and hearing about her weekend and latest dating tea.
10:30 p.m. — I fall asleep because I’m still tired from not getting enough sleep over the last few days.
Daily Total: $21.11
Day Two
9:30 a.m. — I get up and start my day. I have oatmeal and peanut butter for breakfast.
11:30 a.m. — I go over my to-do list for the week and create a list of jobs that I want to apply for this week.
12:30 p.m. — I make a call to my car insurance company to understand why my monthly premium has gone up (it went from $183 to $196 per month). I’m told it’s due to a decrease in my driving score that the insurance app tracks to receive a discount.
1 p.m. — I go on the website for student loans to complete a loan deferment request since I am currently unemployed, and my loan deferment is up for recertification.
2 p.m. — I eat lunch: a frozen orange chicken that I got from Trader Joe’s a few weeks ago.
2:30 p.m. — I work on an application/essay for a project management apprenticeship that I want to apply for.
5:45 p.m. — I go to pick up my sister so we can go for a three-mile walk at a nearby park.
7 p.m. — I realize that I have some rewards points for Chick-fil-A so I go to get a spicy chicken sandwich for free.
8:15 p.m. — After I drop my sister off, I go to Whole Foods to get some vanilla vegan cupcakes and salad. I get home and eat one of the cupcakes, then go back to working on the essay for the apprenticeship application. $12.98
11:30 p.m. — I head to bed.
Daily Total: $12.98
Day Three
4 a.m. — I wake up randomly. I start reviewing finances since my direct deposit hit my account. At about 5 a.m. I start scrolling through various apps out of boredom because I can’t go back to sleep.
9:30 a.m. — I get up and take a shower. Over the weekend I decided I wanted to do a spiritual fast so I won’t be eating from 5 a.m. to 5 p.m. each day for the next two days, to focus on spending more time reading the Bible and building spiritual discipline. I don’t eat breakfast; instead I spend time reading scripture, praying and writing in my prayer journal.
1 p.m. — I decide I want to go to a local park to sit out in the sun and read before it starts raining. At about 4:15 p.m. I leave the park to go to my mother’s house.
5 p.m. — While at my mother’s house, I make a salad and eat a banana. Since I’m at my mom’s house, I don’t have to pay for it.
5:45 p.m. — I meet up with a friend to attend a local Bible study that lasts for a little over an hour.
8 p.m. — I head home to eat some of the salad I bought from Whole Foods on Monday.
9:30 p.m. — I read some scriptures and journal for about an hour before going to bed at about 10:45 p.m.
Daily Total: $0
Day Four
8 a.m. — I get my day started — shower, brush my teeth etc. Afterwards I spend time in prayer, devotion and journaling.
10:15 a.m. — I head to meet up with friends at a local coffee shop to cowork. I spend $7.20 on local street parking for about six hours. Since I’m fasting, I don’t order any food while at the cafe. $7.20
1 p.m. — I take a break to spend some time on prayer and devotion.
1:45 p.m. — I spend the rest of the afternoon researching and applying for jobs.
5 p.m. — I leave the cafe to go home and eat. I have a salad with caesar dressing and cashews and drink plenty of water.
7 p.m. — I relax on the couch and FaceTime with my sister for a bit (we do daily check-ins).
8 p.m. — I remember that I’ll be driving to Queens on Friday to attend a funeral so I add $23.59 to my E-ZPass, since I will have to pay tolls to go from New Jersey to New York City. $23.59
8:30 p.m. — I watch a live podcast on YouTube and go to bed around 11 p.m.
Daily Total: $30.79
Day Five
8 a.m. — I wake up to get my day started. I read devotional, pray and spend time journaling in my prayer journal since I am still fasting.
9:30 a.m. — I get in the shower and do the usual morning routine of brushing my teeth and getting out my clothes for the day since I will be coworking again with my friends. This time we will be coworking inside my friend’s apartment building since they have a designated office space.
10:05 a.m. — I finally leave the house and it’s raining cats and dogs. I debate if I should take the train and walk over to my friend’s house since it’s inaccessible by transit. I decide not to take the train since it’s raining so hard and it doesn’t seem like it’s going to let up. At 10:40 a.m. I get to my friend’s house after rolling around looking for parking a bit (I find a spot nearby and pay $7.10 for the entire day). $7.10
11:15 a.m. — Once I get settled into the coworking space, I remember that I have to pay a parking violation that was due last month — if I miss another deadline I will have to appear in court. I pay the parking ticket, which includes a late fee and a processing fee. $53.56
11:15 a.m. — I research and apply for jobs.
1:45 p.m. — I take a break to read scripture and journal. At 4 p.m. I end my day. Me and my friends head upstairs to my friend’s apartment for a “happy hour” except I don’t participate since I am fasting.
5 p.m. — My friend makes me veggies for dinner (since they’re her groceries, I don’t have to pay). I have potatoes, asparagus and broccoli. We watch the Olympics until about 7:30 p.m. and then I head home.
8 p.m. — I get home and start to unwind from the day and to prepare for tomorrow, since I’m going to have an early start.
9 p.m. — I read scripture, pray and journal. After that I eat another salad, drink water and head to bed at 10 p.m.
Daily Total: $60.66
Day Six
6:30 a.m. — I wake up to spend time in prayer, devotion and journaling. Yesterday was the last day of my spiritual fast but I want to continue starting and ending my day with prayer, devotion and journaling.
8:05 a.m. — I leave the house to head to NYC for a funeral. I’m running behind so I don’t have time to make breakfast. I arrive in Queens at about 9:15 a.m. and stop at a Walgreens to buy some chewing gum and mints to hold me over until I can eat. After buying these items, I head to the funeral home for the service. $8.51
10:30 a.m. — I leave the funeral home to attend the burial and then I head to Brooklyn to drop off a friend who came with me to the burial.
1 p.m. — I head to my aunt’s house while I’m in Brooklyn to check on her and see if she needs anything while I’m in the area. She says she needs to go pick up her prescription so we drive downtown to the pharmacy and then I stop at Whole Foods to pick up a couple of items for her (despite her protests). I buy her some veggies and chicken and buy myself something from their hot food bar. $51.31
3:30 p.m. — We head back to my aunt’s apartment. My gas light comes on since I forgot to gas up before I left Jersey. I have more than enough to get home but don’t want to chance it in case I get stuck in traffic so I get $10 worth of gas at a local gas station. I don’t fill it up because gas costs a lot more in NYC than in Jersey — I put in just enough to get me where I need to go then I’ll stop to get gas once I get back home. $10
4 p.m. — I get back to my aunt’s house and eat lunch, then leave to head back to Jersey because I’m attending a concert later tonight.
6:15 p.m. — I get back to Jersey and park near my friend’s house. They live within walking distance of the concert venue so we’re getting ready here then going together. I try to pay for parking but the parking app doesn’t charge me for some reason so I don’t question it. We’re going to a hip-hop and R&B concert that we bought tickets for back in May — they cost about $196.
7:30 p.m. — We arrive at the venue and don’t buy anything while we’re there since the concert actually starts on time. We leave at 11 p.m. and I sit at my friend’s house for a bit to recap the concert. At 12 a.m. I head home and notice I’ve received a ticket for not feeding the meter (I was parked in an area that requires you to pay for parking when there’s an event going on). The ticket is $45, which I will probably appeal since the app wouldn’t allow me to pay. I get home at 12:15 a.m. and head straight to bed.
Daily Total: $69.82
Day Seven
8 a.m. — I’ve signed up to do a park cleanup for a nonprofit organization I volunteer for by providing mentorship to a mentee. I’m still tired from last night so I’m moving a bit slowly. I have to add $20 to my E-ZPass since I went through more tolls than expected yesterday. $20
9 a.m. — I leave my house to go pick up my mentee; we arrive at the park at about 10:05 a.m. I don’t arrive on time because I make a wrong turn along the way.
10:05 a.m — Me and my mentee walk around the park with other attendees picking up trash. I’ve always wanted to do a park cleanup so this is kind of cool and my mentee enjoys the experience as well. She didn’t have breakfast and by the time we leave it’s lunchtime so I head to Chick-fil-A to get her something to eat. I spend $10.87 on a nugget meal for her. I drop her off at her house at 12:30 p.m. $10.87
1 p.m. — I head over to pick up my mother to run errands. I stop to get gas first and spend $48.83 to fill up my tank since I’m still on empty from yesterday. $48.83
2 p.m. — I head over to Target so that I can pick up some toiletries I need ($45.56). I’m hungry after, so my mom treats me to Cava since I’ve been her chauffeur for the day. I drop her off at home at about 3:30 p.m. and go straight home to take a nap. I wake up from my nap at 5 p.m. and spend the rest of my night watching Hulu. $45.56
9:30 p.m. — Before going to bed, I remember that I need to buy a few items from my best friend’s baby registry. I head to bed at 10 p.m. after such a long day. $260.62
Daily Total: $385.88
The Breakdown
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