The INSIDER Summary:
• Here is how one woman spends her money living in Toronto on a $140,000 salary.
Welcome to Money Diaries, where we're tackling what might be the last taboo facing modern working women: money. We're asking millennials how they spend their hard-earned money during a seven-day period — and we're tracking every last dollar. (Thanks, New York mag, for the inspiration.)
Industry: Advertising
Age: 30
Location: Toronto, Ontario
Salary: $140,000
Paycheck Amount (2x a month?): After tax I take home approximately $4050 twice a month
# of roommates: 1 (boyfriend) + 2 dogs and a cat
Monthly Expenses
Mortgage: $1283
Condo Fees: $515
Property Taxes: $225
Home Insurance: $24
Loan Payments: None — my only debt since paying off my student loans is my mortgage
Utilities: Approximately $125 to $175/month (depending on the season) for gas and electricity, $55 for Internet
Transportation: $360 car-lease payment plus $280 month for car and motorcycle insurance. I spend maybe $50 a month on gas between the two, though my boyfriend drives the car more than I do and often covers the gas.
Phone Bill: Covered by work.
Health Insurance: Extended benefits are included in salary. The rest is covered by free provincial healthcare.
Pet costs: $80/month for food and pet insurance
Netflix, Spotify, iCloud: $25
House cleaner: $200/month for bi-weekly cleaning, which is essential because I’m not a particularly good housekeeper and experience tells me that a clean house helps maintain a peaceful relationship
Note: My boyfriend contributes $900 a month that covers some of these expenses in addition to other shared expenses like the car, utilities, Internet, etc.
Savings: I have multiple savings accounts that I contribute to monthly for short-, medium-, and long-term purposes (think trips vs. retirement). Around $1200 goes into these accounts each month in addition to a yearly contribution that varies.
Day One
8:30 a.m. — Wake up and go to the gym in my building while my boyfriend makes coffee and breakfast (lucky girl). He uses stuff we already have in the fridge. Afterwards, we take our two dogs to a big park in our neighborhood.
11 a.m. — On the way home from the park we stop at a local bakery for treats. I grab something for both of us which comes to $6.
3 p.m. — I should go get groceries but I feel more like shopping. I need to grab a few more things before the sales all end because I’m hitting up Thailand in a few months. I spend $40 on a sleeveless shirt at Saks Off Fifth nearby. $40
Daily Total: $46
Day Two
6:30 a.m. — I wake up and go to gym in my building. For breakfast I scrounge for leftovers and make a simple egg sandwich.
8:30 a.m. — I drive to work today because I have a meeting later and it’s raining. I grab an Americano at the cafe by my office. $2.75
1 p.m. — Parking at my meeting costs me $3.50. I realize I grabbed the wrong umbrella on the way out and ended up with a serious downgrade. $3.50
2:30 p.m. — When I get back to the office all of the free parking is taken so I pay to park for the rest of the day. $6.75
6 p.m. — My boyfriend and I have tickets to see the Blue Jays vs. the Yankees. They're cheap seats I picked up a few weeks ago. My coworker and her husband are also going so we meet up at a pub between my office and the stadium beforehand. I cover my boyfriend’s and my beers, along with a wrap I have to avoid eating ballpark food. With tip, the bill comes out to $38.24
8:30 p.m. — The BF grabs us drinks when we get to the game so I get us ice cream to finish off the date night. They come to $6 for kiddie-sized cones, which is way more than enough. $6
Daily Total: $57.24
Day Three
8 a.m. — Today I grab a yogurt for breakfast because we still haven’t bought groceries. I get a $3 coffee on the way to the subway and it costs me $3.25 to get to work. Total: $6.25.
12:30 p.m. — My coworker and I take turns treating each other to lunch. Today I get us avocado grilled-cheese sandwiches with side salads for $31.18. Not cheap, but at least decently healthy. $31.18
2 p.m. — I get a text from the BF, who runs his own company and therefore makes his own hours, saying that he got groceries. Score. He spent $37.95 on broccoli, mushrooms, celery, carrot, potatoes, peppers, bread, cheese, coffee, pasta, sauce, zucchini. I’ll grab the next grocery bill, which is our usual arrangement.
6:30 p.m. — Before an industry networking meet-up, I get drinks to discuss a talk I'll be giving at an conference next month with the event organizer. I cover our bill which is only $22.21. The cab here was $12.35 but because it was work-related I put it on our business Uber account. $22.21
8:30 p.m. — I’m starving. I thought this meet-up would have free snacks, but I have to settle for free drinks instead. Now I need food. I remember I have a credit on Ritual, an app for ordering takeout, so I get a small pizza for only $4.59 on my way home. $4.59
Daily Total: $64.23
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