How a 24-year-old New York-based digital marketing manager spends:

  • SALARY: I make $35,000 per year as a digital marketing manager in the music industry in New York. The company is very small and growing so I took the position with the knowledge that it would be a bit of a startup mentality for a period of time. I've given a deadline for when I would consider looking at other options that pay more appropriately, though I love my job.

  • SAVINGS: I have $3,000 in my savings account right now.

  • MONTHLY EXPENSES: My partner and I split the cost of a $1700/month one-bedroom apartment. My share is $850. Our friend owns the building! I do not contribute to my 401(k) and I'm still on my parents' health insurance plan. Since our friend owns my apartment building, we split all of the household bills between everyone. My share for utilities and internet is usually about $50/month. I pay $121 for my MTA card. I subscribe to two podcasts for $10. I have a Spotify subscription, which is $10. I have a chronic health issue and pay between $50 and $100 per month in copays, though these are non-negotiable.  

  • DEBT: I am not in debt.

  • SIDE HUSTLE: Occasionally I help my friend who is a business owner do research, copy editing, etc. This is varied income so I don't count on it but he pays me $25 per hour and there will be an extra couple hundred dollars here and there from it.

  • SPENDING VICTORY:  We made the decision to move apartments last year since this one was $800 less per month and I like living with people that I know and who are friendly to me. Though all of the moving costs set me back for about three months.

  • SPENDING REGRET: I worked three jobs in high school and saved every penny in order to move across the country for college. I wish that I hadn't blown through all of that money so quickly on discretionary purchases.

  • IF I WON THE LOTTERY: I would probably invest the majority of it. And would likely set aside a portion for new clothes and maybe a vacation.

  • GOALS: My long-term goal is to have six-months income in a high-yield money market account and to max out my Roth IRA every year. After that, I'd like to invest my money into buying a house at some point in the distant future.