Alicia's Money Habits

  • SALARY: I make $55,000 per year as a staff writer at a magazine, a job that I started just this month. Prior to that, I was making $42,000 per year. I have successfully negotiated a raise in the past, which is something I hope to discuss in future newsletters. Long story short, though, I used the Ellevest Mind The Gap PDF
    to guide my way.
  • SAVINGS: $200 (YIKES!) 
  • MONTHLY EXPENSES: Right now I pay $1,000 per month to live in a rat-infested apartment in Bed-Stuy (but I'm moving soon!). I work in a local yoga studio in exchange for free classes each month, so I don't pay for a gym membership. My monthly expenses include a phone bill ($57/month), a membership to Ellevate Network ($8/month), a small 401K contribution, my commuter benefit card ($121/month), internet bill (varies), electric bill (varies) and healthcare plan ($86/month).
  • DEBT: I'm slowly paying off a student loan from my parents (that doesn't accrue interest, yes I know this is privilege). Beyond that, I don't carry any credit card debt.
  • SPENDING VICTORY: The best thing I ever spent money on was a flight to Santiago, Chile, to see my boyfriend when he was studying abroad there. I paid roughly $900 for this trip, draining my savings account at the time. I do not regret it.
  • SPENDING REGRET: I always get recurring additions to my phone bill because thanks to data overage charges.
  • CHARITY: I do prioritize nonprofit spending in my monthly budget - I'll contribute to about two charities per month. The last I contributed to was the Girl Scouts of NYC.
  • SIDE HUSTLE: I have a few side hustles - I sell clothes online via Poshmark and eBay, and I just started walking dogs via Wag. I do freelance journalism here and there when I have time. New York is expensive! I gotta stay afloat, right?
  • GOALS: I want to have a $1000 emergency fund by the end of the year. If I make it there, I'm going to start investing through something like Ellevest or Betterment. I'm also working on building my credit, which I intend on doing by applying for another credit card in the next few months, and continuing to pay it off every month. Long term, I want to make enough money to afford traveling to several countries per year.

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She Spends Issue #1