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: a paralegal who makes $61,370 per year and spends some of her money this week on dog agility classes.
Occupation: Paralegal
Industry: Government
Age: 24
Location: King County, WA
Salary: $61,370 ($55,370 main salary + $6,000 from side hustle)
Net Worth: $20,741 (High-yield savings: $12,206, car: ~$14,500, retirement fund: $5,338, checking: $800, minus student loan debt.)
Debt: $12,103 (federal student loans)
Paycheck Amount (biweekly): $1,585 (for main job), ~$300 (for side hustle as a tutor)
Pronouns: She/her
Monthly Expenses
Rent: $1,265 (for the three-bedroom, two-bathroom house I share with my partner, J.)
Student Loans: $126 (This has been deferred since I graduated college during the pandemic.)
Water, Sewage & Garbage: $110 on average
Electricity & Heat: $70–$100, depending on season
New York Times Subscription: $4
Netflix: $15
Spotify: $11
Car Insurance: $100
Pet Insurance: $10
Internet: $20
Phone: $0 (I’m blessed and still on a friend’s parents’ plan)
Personal Savings: ~$700 ($350 automatic withdrawal every payday)
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, there was absolutely an expectation for me to attend college and perhaps beyond. Growing up, I was a voracious reader and in gifted programs, so my community treated higher education as a given. My mom left college when I was born, and my dad has a degree but worked a mixture of jobs that didn’t always use his education. When I was in high school, I knew I wanted to attend college, but that the financial barrier would be steep. I funded my bachelor’s degree in psychology (which, shockingly, actually paid off by helping me land my current role) with Pell grants, federal subsidized loans, a public service fellowship, a grant for my psychology research, and part-time work for all four years.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
As a child and teenager, I received mixed messages about money. When I was very little, I was taught that working hard and saving money was of paramount importance. However, my parents didn’t usually model sound financial decisions. Even at the best of times, with five kids supported by a single income, my family was poor, leaving little space for conversations about investing, building credit, or basic financial planning. My parents did often lament their own poor decisions with credit cards and student loans when they were young, which I overheard and learned from.
What was your first job and why did you get it?
I got my first job babysitting for neighborhood and church families when I was 12. There wasn’t an expectation that this income would pay family bills, but I got it because finances were tight, and my dad’s income simply couldn’t pay for all necessities. I got my first “real” job my junior year of high school working at a local hardware store. I got it to pay for things like sports equipment fees, clothing, extracurriculars, social outings, and college prep.
Did you worry about money growing up? All the time, for as long as I can remember. In childhood, my family vacillated between various types of poor; from the “can’t afford name brand clothing or extracurriculars” type, to the “no food in the house besides peanut butter and random pantry stuff” kind. We used to live in the Midwest, but in early 2012 my parents’ house went into foreclosure, and we moved to Washington. I didn’t understand the full ramifications but was concerned and agitated nevertheless. Shortly after the move, my dad lost his job and started using substances, which caused my siblings and me to be removed by the state since my mother was unable to care for us due to psychiatric issues. We later went back to live with my parents, but they had no money for rent, so we all became homeless shortly after. I was so, so lucky to be able to live with friends for the rest of high school, but I was under constant strain from my family being poor to the point where my siblings were sleeping in a parked van at night. Having no real money myself, I also […]
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