A Week In Brooklyn On A $85,000 Salary

Housing costs: $1,000. I live with my husband in a one-bedroom rental. We just got married and moved in together a few months ago. We’ll likely move to a bigger place when his lease is up, which will increase my housing costs significantly.
Loan payments: $0
All other monthly expenses: $400. My work covers my health insurance and my phone bill. All other monthly expenses are via my husband. Since moving in together we maintain his gym membership (with me as a free guest), his utilities and streaming services. This $400 is something I insist on chipping in.

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?
There was definitely an expectation that I attend college, from me and my parents. It was never even given a second thought. I always really loved school and got decent grades so it was just presented as the inevitable next step. My parents helped pay for a huge chunk of it — probably about a third. Other than that I got some scholarships, paid some myself, and took on loans.

Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
My parents did a pretty good job teaching us about finances. My mother took my siblings and I down to the bank to open up savings accounts when we were really little, and it was a weekly errand to deposit something — even if it was just a few dollars. Of course we loved this errand because we always got lollipops. When my dad was paying bills, he’d lay everything out on his office desk and encourage us to watch and ask questions. They both also firmly encouraged me to sign up for a 401(k) as soon as I was able, and to always contribute at least what my employer would match.

What was your first job and why did you get it?
My first job was retail. As soon as I turned 14, I worked at a little craft shop in my town center. I did this because it was just expected. The mentality was: You’re old enough, you have free time, go get a job. I put most of my paychecks into savings, keeping a little each week for mall outings or McDonald’s hangouts with friends.

Did you worry about money growing up?
I wouldn’t call it “worry” but I was always conscious of money. I was lucky enough to grow up in an environment where we never questioned the roof over our head or where our next meal was coming from, but we didn’t get the newest fad toys, shoes etc. or frequent vacations.

Do you worry about money now?
Again, I wouldn’t call it “worry.” I have enough of a safety net (both monetarily and social network-wise) that I know I will be okay. That said, NYC is expensive and I am always aware of costs and relative value of things, and am constantly weighing short-term versus long-term financial decisions.

At what age did you become financially responsible for yourself and do you have a financial safety net?
I became financially responsible for myself gradually. I had to start paying my own phone bill at age 18, for example, but I lived with my parents rent-free after college for a few years. I became fully financially responsible for myself at age 24, when I moved out of my parents’ house. I do have a safety net, both from my own nest egg and from knowing I could rely on family members if needed.

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