How a 23-year-old Manhattan-based News Correspondent Spends:

  • SALARY: I make $75,000 per year while working at a large, national publication. When I was asked to move from D.C. to New York a few months ago, I told them I wanted more money-- specifically a bump to $80,000 from my previous salary of $70,000. My request was sidelined at the time and I was we could discuss it when raise time came. At the time, I told my new editor what I wanted. He took it to management, and a compromise was reached to give me a $5,000 raise and a $5,000 retention bonus if I stay with the company until the end of the year. 
  • SAVINGS: I have roughly $1200 in my savings account. I also am putting away money though my Roth IRA. 
  • MONTHLY EXPENSES: Right now I pay $1,625 per month for a studio apartment in Manhattan. It is so worth it! Beyond that, I contribute to my healthcare plan and my Roth IRA. I also pay for Netflix, Hulu and Spotify each month. 
  • DEBT: I have about $15,000 in debt between school loans and credit cards. I pay my student loans, credit cards at least monthly, and sometimes if I have extra cash, I will pay a bit more on my credit cards to pay them off sooner. I have only an undergraduate degree and my only language is English-- all dings on my ability to negotiate. Get those degrees (have someone else pay for them) and learn those languages. Brains=cash.
  • SPENDING VICTORY: My spending victory is sooooo important to me because I am a difficult person to live with, and I find the stress of having to share a space with one or more people extremely daunting and, frankly, pretty shitty for my mental health. You can never regret spending dough for the sake of your own peace.
  • SPENDING REGRET: I know for a fact I spend too much money on needless recreation, specifically on alcohol. It's a pricey little weekly/daily expenditure, and that money would be much better saved or spent elsewhere.
  • SIDE HUSTLE: I do not have a side hustle.
  • GOALS: I would love to save $10,000 by the end of the year and open up an IRA. I already contribute 10% of my salary to a 401k, but having liquid and higher payoff savings would be such an achievement for me. I also obviously want to pay off all my debt. 

- She Spends Issue #8