Welcome to Money Diaries where we are tackling the ever-present taboo that is money. We’re asking real people how they spend their hard-earned money during a seven-day period — and we’re tracking every last dollar.
Today: an MBA leadership development program participant who has a $175,000 joint income and who spends some of her money this week on Powerade.
If you’d like to submit your own Money Diary, you can do so via our online form. We pay $150 for each published diary. Apologies but we’re not able to reply to every email.
Occupation: MBA leadership development program participant
Industry: Retail
Age: 31
Location: Arkansas
Salary: $130,000; 15% annual bonus ($19,500); $15,000 RSUs. Partner’s income: ~$45,000. When it comes to finances, I pay rent completely and my partner handles all other household expenses (utilities, wi-fi, car insurance and groceries). This is supposed to be closer to a 60/40 expenses split (though that’s not entirely accurate).
Assets: Checking: $706.35; HYSA: $1,639.29; investments: $123,731 (brokerage: $619; Roth IRA: $34,010; rollover IRA: $82,861.44; HSA: $6,027 — I only use my HSA as an investment vehicle and not for medical expenses); vehicle value: $10,000; engagement ring: $1,500.
Debt: Auto: $7,275; credit cards: $11,370 (0% interest); private student loans: $105,000 (from my MBA that I finished in June).
Paycheck amount (biweekly): $3,564.94
Pronouns: She/her
Monthly Expenses
Housing costs: $1,850. I rent a three-bedroom, two-and-a-half-bath townhouse with a two-car garage with my fiancé, E. This place is more than enough space for us but we really wanted a two-car garage and this was the only way to get it. Smaller options in our area are ~$1,600 so we felt the pricing was worth the “splurge.”
Loan payments: $712 (minimum) but I pay ~$2,500.
Utilities: ~$180 (E. pays).
Wi-fi: $82 (E. pays).
Car & renter’s insurance: $200 (E. pays).
Gym/fitness memberships: $90 (this includes the Peloton app and access to my company’s gym for both of us).
Phone bill: $100 for three months with Mint Mobile (I don’t budget for this monthly).
Therapy copays: $40 (two sessions per month).
Medical expenses: $170 (doctor visits and prescriptions).
401(k)/HSA: Currently not contributing.
Wedding savings: $850
Emergency fund: $400
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?
Yes and no. I was a first-generation college student; both of my parents went to college but didn’t graduate so they definitely wanted better for me. I was a well-performing student and was known as the “smart” one in my family, so they expected great things from me. They thought I’d be a doctor or a lawyer. I went to a private religious undergrad far from home that gave me significant financial aid and I received Pell Grants. My parents covered nothing — not even a phone bill. I graduated with $20,000 in federal student loans and paid them off in 2020. In late 2020, I decided I wanted to get my MBA so I started that process (test prep, prep programs, etc.). I spent $12,000 in total preparation and was admitted to all seven of the MBA programs I applied to. I selected the best ranked program and received $130,000 in merit scholarships. I then took out $102,000 in private student loans and around $32,000 in credit card debt to fund the rest of tuition and living expenses for the two years. Since graduating, I’ve paid off $20,000 of the credit card debt with my sign-on bonus from my new job.
Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
My grandma taught me how to balance a checkbook. My dad taught me about balance transfers on credit cards. My great uncles were the ones who told me to contribute to a 401(k) immediately after starting work. I learned everything else on my own.
What was your first job and why did you get it?
My mom didn’t want me to work in high school and thought I should focus on school; however, she also knew that I wanted spending money so she let me keep child support payments beginning my junior year. I got about $50 a week. My first actual jobs were in undergrad at a campus coffee shop, as an office assistant and a caterer. I was part of the federal work-study program so it was easy for me to get jobs on campus and I liked having some spending money since my parents didn’t financially support me. Looking back, I spent all my “social time” working and I regret not leaving undergrad with more friends.
Did you worry about money growing up?
I was raised by my mom and the conversations were always around our lack of money. My childhood diet was ramen noodles and rice and gravy. We were unhoused numerous times (including evictions) and I remember having to live at an elementary school classmate’s home for the entirety of fifth grade. I would see my mom every other weekend. On the other hand, my dad — who lived 45 minutes across the city but I would only see twice a year — lived with his family in a nice two-storey home with luxury cars. I was always worried about money and always envious of the stability that my dad and half-siblings had. I never understood how he could watch me suffering when he wasn’t. About five or six years ago I went no-contact with my dad for other reasons, which is one of the best things I ever did for my mental health. I am still working out the impact of all of this in therapy to this day.
Do you worry about money now?
Yes. I made the huge financial decision to go back to school when I was debt-free and living comfortably. Now I am dealing with the consequences of that decision by having a significant amount of debt and being behind on my retirement contributions. I want financial stability but it seems so far away. Also, my mom’s financial instability concerns me. If something happens to her, I’ll be responsible for my sisters. When she can’t work anymore, I’m concerned I’ll have to support her financially. Also my partner’s income is low and I’m concerned he’ll never make more money and won’t be someone I can rely on financially if something happens to me/my income.
At what age did you become financially responsible for yourself and do you have a financial safety net?
At 18, when I left for college. My dad wouldn’t keep me on his health insurance or pay my phone bill anymore. I was on my own. I briefly moved back home for two months after undergrad graduation while I waited for my full-time job to start, but was forced to move out since I wasn’t working. Make it make sense. I want to say my partner is my financial safety net. I know at the very least our bills would get paid but his income is very low so we’d struggle significantly.
Do you or have you ever received passive or inherited income? If yes, please explain.
No.
Day One: Friday
5:20 a.m. — I wake up and immediately grab my phone to check messages and emails. I notoriously go to bed early so I always wake up to overnight texts from my friends. I usually do a Peloton workout at this time but I was feeling a bit ill yesterday. I head downstairs to relax on the couch so I don’t disturb my fiancé, E.
6:20 a.m. — E. is up and makes breakfast: eggs, turkey sausage, and protein pancakes. I eat everything but the pancakes. We usually do breakfast separately but E. is trying to nurse me back to health.
7:30 a.m. — E. leaves for work and I get ready for my workday. Fridays are work-from-home days for my team, which is great because I’m not sure I feel well enough to go into the office. I’m seven weeks into my new job after completing my MBA. I’m in a rotational leadership development program and my first rotation is in e-commerce. Honestly, I like it. I did some e-commerce work pre-business school so I intentionally chose this rotation as a way to ease back into work. I think I’d like to stay in this space and build my skills. Unfortunately, I only have a year in this role as my program consists of two one-year rotations, followed by an 18-month to three-year rotation. When you graduate from the program, you can become director level. I’m mentally committing to just two years — enough to meet the relocation and sign-on bonus payback period. I think I can earn more elsewhere before reaching director level but I’m keeping an open mind. So far, I don’t hate the company or my role.
8 a.m. — I start work, catching up on items I missed yesterday afternoon. I spend most of the morning doing reporting for my division and reviewing my section of the website. If I notice anything wrong, I fix it. I meet with an associate on my team and we discuss priorities for the weekend and things to prep for next week, as she’ll be out on PTO. My role feels fairly easy but when people are out of the office for several days, my workload increases significantly.
12 p.m. — I break for lunch and start a load of laundry. Then I walk around the house, tidying up. We’re having our first visitors — my mom and two teenage sisters — since we moved to this state. I’m excited but nervous. It’s tough for me because I supported my mom and siblings financially for years. During the pandemic, I gave her a stimulus check to help with bills, only to find out she gambled it away. I’ve also covered back-to-school expenses for my siblings for the past few years. Going back to school gave me a good excuse to say no, but my mom never stopped asking. After graduation and getting engaged, I decided to prioritize my future family by no longer giving her money. I may reconsider once I’m more financially secure but for now, this is the most peace I’ve felt in a long time.
1 p.m. — I continue working through the afternoon but it’s slow since people are already taking off for the long weekend. I text a few friends from school, updating each other on post-MBA life. It’s so cool to see everyone doing great work around the world but also sad because we’re all so far apart. I moved to a city that most of my classmates wouldn’t consider so I feel like I’m starting over in building a community. So far, I’ve made zero friends (lol). Thankfully I have E. We were long-distance while I was in school and now we’re reunited. Life improved a million times once we were physically together again. I’m not usually touchy-feely or lovey-dovey but this is a sign that he’s my person.
4:30 p.m. — I wrap up work, do some household chores and wait for E. to get home.
6:30 p.m. — E. comes home with groceries for our stock-up before our visitors arrive. He handles our grocery expenses and actually enjoys shopping, which I’m thankful for because I hate it. We eat dinner, fold laundry and put on The Vampire Diaries (I’m rewatching because why not?). I’m asleep before 9:30 p.m.
Daily Total: $0
Day Two: Saturday
5:30 a.m. — I didn’t sleep well last night. I had a crazy headache that woke me up followed by some coughs. I head downstairs to not disturb E. and make some hot water to have with cough drops for breakfast. I’m thinking that I’m still experiencing side effects of my medicine.
6:30 a.m. — E. is awake and drinking coffee. We decided that I should stay home from the gym to be safe. E. and I are new to our city and have established a weekend morning routine of going to the gym together since we don’t know what else to do in this town. It works in my favor because I have a lot of gym anxiety and so going with a partner has made me feel more confident.
7 a.m. — I call to check on my mom as they are on the road to visit us for the long weekend. They are making good progress and should be here in a few hours. This is the closest I’ve lived to home since leaving for college when I was 18, so it’s cool that my mom can just drive up on a weekend. E. heads to the gym. I straighten up, make breakfast, shower and put on makeup.
8:30 a.m. — For the next couple of hours, I film TikToks and edit them. I recently went “viral” on LinkedIn for sharing the cost of my MBA prep/journey and I think people are craving financial transparency so I am starting a TikTok to share my financial journey over the past 10 years. In 2020 I became debt-free after paying off my student loans from undergrad and my consumer debts. Then months later I bought a car and decided to go back to school. My life was very financially comfortable prior to business school; now I have to live paycheck to paycheck until my debt is gone. It has been a lesson in being okay with less and being okay with where you are in life.
11:30 a.m. — E is back and my mom and two sisters arrive. E. and I are gifted my sisters’ old bikes since they are too cool for them. E. unloads the car and I give the ladies a tour of our home. We play board games and E. makes us tostadas, then we head to a local bridal shop for me to try on dresses. I prep everyone that we are not buying anything today; we are just here to get an idea of my style. I plan to buy an affordable dress online either from an outlet or resold. Our total wedding attire budget is $1,500 and I find some options that could work, but I’m not getting butterflies. That of course doesn’t stop my mom from crying. We all have clear favorites but it’s trendy and I want timeless.
6 p.m. — We are back home and we spend the evening chatting and playing more games. I am not a big mushy person but I am feeling very happy to host my loved ones in my home. In bed and asleep before 10 p.m.
Daily Total: $0
Day Three: Sunday
6:45 a.m. — Rise and shine! This is what I call sleeping in.
9 a.m. — Spend the morning lounging around the house waiting for everyone to wake up. E. makes breakfast for the ladies of the house. After breakfast I go upstairs to shower and get ready for the day.
11 a.m. — We decide to take the family to a local museum. Entrance is free thanks to corporate sponsorship. I get overstimulated with all the people and my family so I go off to explore some of the museum on my own. E. and my family are used to me needing a break and they don’t blink an eye when I go off on my own. I explore the outdoor art installation. A random boy comes up to me and tells me I look beautiful. That’s so sweet!
12 p.m. — I head back inside and immediately look for hydration after forming a bit of a sweat. I purchase a blue Powerade ($3.32) and sit down for a bit. Once I’m ready to catch up with the family, I am denied entry into the exhibits because of my drink. Rookie mistake. I use it as an excuse to relax and people-watch. Eventually, I meet up with the family and we head out. $3.32
1:30 p.m. — We give them a small tour of the downtown square. E. wants to treat the ladies to ice cream so we find an ice cream truck. For five ice creams, it’s like $8. So cheap! E. pays. We sit for a while and enjoy the shade and the acoustic guitar of a teenage singer. I tell E. that I really wanted to play the acoustic guitar when I was in high school but never had the chance. It’s a lovely afternoon.
4 p.m. — We are back home. The girls are on dinner duty. They make spaghetti for everyone. We are all just relaxing. E. and my mom start a puzzle that I’ve been trying to get him to do with me for weeks. My mom is much faster and makes good progress on the 1,000-piece beast.
7 p.m. — I head upstairs because I’m in a mood. I put on The Vampire Diaries as a means of decompressing. You know the drill: I’m lights out by 9:30 p.m.
Daily Total: $3.32
Day Four: Monday
5:40 a.m. — Early wake-up per usual. Today is Labor Day and E. actually has to go to work. We head downstairs and spend the morning together. I make him coffee and help pack his lunch for the day. My family doesn’t wake up in time to bid him farewell.
8:30 a.m. — The house is slowly waking up. I spend time with my mom. She continues working on the puzzle while we chat.
11 a.m. — My mom and my sisters depart for their road trip back. It was really nice hosting them and I think they plan to return for Thanksgiving. It’ll be nice! I plan to make a big gumbo and decorate since it’ll be my first time hosting a holiday. A dining table and a large pot are on my wish list.
5 p.m. — I spend the entire afternoon cleaning, doing laundry and meal prep while walking around with The Vampire Diaries playing on my iPad. Everything is back in place and all is well in the world. E. gets home at some point and we finish off the last of the leftovers. I also notice my rent payment is being processed (included in monthly expenses).
9 p.m. — In bed and asleep in no time.
Daily Total: $0
Day Five: Tuesday
5:30 a.m. — I am awake thanks to my Hatch alarm and I contemplate laying here longer. But then I think about future me and I get up and immediately put on workout clothes and head to the Peloton. I am on an Alex Toussaint roll. I do a 30-minute R&B ride and the music hits!
6:30 a.m. — I spend 15 minutes post-Peloton catching up with E. I eventually decide to shower and get dressed for the day. I put on light makeup and a brown dress with a black cardigan — a sign that I am ready for fall. Out the door and on to work by 7:30 a.m.
8 a.m. — Arrive at my desk. AirPods in and immediately get to work. Since we had Monday off, I have about six different reports I need to complete so I am heads down for a few hours. My job is essentially to make my department on our website easily shoppable (ensuring that customers are seeing the products that we want them to see). I don’t find the work challenging but instead time-consuming. The most challenging piece has been managing the people. My role is VERY cross-functional and I’ve found building positive relationships with all partners to be somewhat difficult. My entire team is based in a different office on the East Coast so I feel like I entered here as an outsider without a home. People are friendly but I think by the time I get to a good place relationships-wise, I’ll have to rotate to another team.
12:15 p.m. — Break for a quick lunch with a colleague. We catch up on the long weekend. I eat my daily go-to: a sad caesar salad. I brought chips and salsa too but don’t have time to eat before I need to be back at my desk.
1 p.m. — The reason I ended lunch early — a meeting — was canceled. I continue to handle my tasks.
3:30 p.m. — Coffee chat with a classmate. I haven’t seen him for a few months so we catch up on our lives. He had a baby between graduating and relocating to the area. Our company gave him seven weeks’ leave despite only working for them for like four weeks. So nice! We spend an hour just chatting. I head home afterwards.
5:04 p.m. — Park and catch up on some personal emails. I am doing three coffee chats with prospective MBA students this week and I have found scheduling to be the most annoying thing. I’m thinking about setting up some recurring office hours for people. I also signed up to volunteer with the local NAACP. It’ll be a great way to meet some new people and get connected to the community here. I send an email out to a colleague to check in on potentially joining the board of a nonprofit. A few months ago I made a LinkedIn post about MBA prep costs that got the eye of some folks looking to make a difference in getting low-income folks access to MBAs. It would be a very cool opportunity if I got elected to the board, but also do I want to spend my free time doing that now? TBD.
6 p.m. — Cook dinner while I wait for E. to come home. He stopped by the grocery store to get some fruit since I like to have some with lunch. Eat dinner and spend the evening relaxing. I edit a TikTok video and E. heads to bed early due to his allergies acting up. Asleep by 9:15 p.m.
Daily Total: $0
Day Six: Wednesday
5:15 a.m. — Rise and shine! Jk, the sun isn’t even up yet. I wake up and immediately post the TikTok from last night. I’m really trying to make this a side hustle so might as well be dedicated for now. Spend the morning browsing the internet — TikTok, news, checking email, etc. I am starting my day working from home so I can do therapy. When I was in school, I would do therapy on campus but I always felt uncomfortable so I would hold back a bit. I discussed being able to do therapy at home and commute later to the office with my manager and she was open to it. So essentially I WFH for 90 minutes then pivot to 90 minutes of therapy and commute into the office. I don’t have to make up that 90 minutes if I get my work done.
7:20 a.m. — Get ready for the day by putting on light makeup and a very dark outfit. I don’t care what anyone says, I like black. Or do I only like it because it makes me look slim? Being plus-size makes me question these things.
8 a.m. — Set up at my desk and start working on a report that’s due in a couple of hours. I swear my job is like 65% reporting. I listen to a podcast (So Money with Farnoosh Torabi) while I work.
9 a.m. — Start to get hungry so I run downstairs for a sec. Not feeling anything specific so I snack on the chips and salsa that I packed for yesterday’s lunch but didn’t eat. Did I just invent #girlbreakfast?
9:30 a.m. — Close work laptop. Open personal laptop for therapy.
10:20 a.m. — Therapy’s over. I’ve been consistently going to therapy for years but I feel like I haven’t been seeing the progress I want to see. Today’s conversation was good — I chatted through my issues around being hypercritical of my family members and how to support my sisters as they become adults (they are both in high school now). I had an amazing therapist in my mid-20s and I experienced so much growth with her, but then I moved out of state and she became too pricey. I want her back because she was the only therapist to really challenge me and help me grow. While in business school I went through four therapists because they did that “honey, you’re doing amazing” thing versus challenging my way of thinking and assumptions. Also many of them were too young. I need to have an older therapist because I just respond better to those that I perceive to be older and wiser. I rush to work. (The $20 copay is noted in my expenses above.)
10:50 a.m. — Arrive at work and the whole day is total chaos. I’m assigned a huge project with a big deadline on Friday and I CANNOT. I hate disorganization and last-minute things. I’m on a slim team without a manager so it’s my director who assigned this to me… Kind of hard to push back and advocate for myself so I just suck it up and note that I’m going to be working a lot this week.
4:40 p.m. — The day flies by and I really should stay later to complete work but I have two coffee chats with prospective MBA candidates this evening and I would like to eat dinner beforehand because somehow I missed lunch.
5:04 p.m. — Home. Warm up some leftovers from last night.
5:30 p.m. — Online on my personal laptop for back-to-back calls. I get really energized talking to prospective MBA candidates. I don’t sugarcoat any of the experience and I think they value my transparency. I’m exhausted by the time the two back-to-back calls are over.
6:05 p.m. — Since I’m trying to be productive I call my health insurance company since my therapist had trouble submitting a claim previously. I literally don’t understand anything this lady is saying but in summation I don’t think I’m covered? I email my therapist with all the info I’m given and I’ll wait for her response. I don’t have the energy to date around for a new therapist. I still haven’t replaced my couples therapist, PCP, dentist, etc. Adulting is exhausting.
7:15 p.m. — E. still isn’t home so I head upstairs to shower and decompress. E. works in the HVAC/plumbing industry so I’m used to him having varying busy days. Sometimes he’s home before me and sometimes he’s home after I go to bed. I feel like it’s not worth it considering he isn’t paid that well but he actually loves it. I find him watching HVAC YouTube videos and studying material in his free time. Can’t relate.
7:40 p.m. — E. is home. He eats leftovers for dinner then showers. We are both in bed by 8:45 p.m. and asleep by 9:30 p.m.
Daily Total: $0
Day Seven: Thursday
5:15 a.m. — We are awake fairly early today. I lay in bed for 20 minutes then head downstairs for coffee with E. We really have the privilege of relaxing mornings because we wake up so early. I could definitely be working out but I don’t want to. My goal is three times a week so that means I have to work out tomorrow and Saturday. On the weekends we go to an actual gym and I think I prefer it so I’m looking forward to that.
6 a.m. — Sip coffee and check my accounts. My automatic payments for my student loans are taken out. It’s $50 each for both since I’m currently in the grace period. I want to pay more but I am prioritizing credit card payoff and savings before the mandatory payments start. Depending on my progress with the credit card payoff, I may increase my student loan payments to at least cover the interest accruing. One student loan is a five-year loan at 3.2% and the other is a seven-year loan at 7.8%. I want to refinance the second one so I’m trying to see a credit score improvement and waiting for rates to become more favorable over the next few months. I would love to go pedal to the metal and rush to pay off all the loans, but the five-year loan doesn’t make sense since the interest rate is so low. The seven-year might make sense but I have some other goals for the next two years (consumer debt-free, save emergency fund, save for wedding, etc.).
6:20 a.m. — I start getting ready for work because I want to get to the office early today to tackle some of the things I complained about yesterday. I also have a cohort (all the MBAs hired in my leadership development program) happy hour so will be unable to work late. I’d rather start work at 4 a.m. than stay after 5 p.m. anyway.
7:30 a.m. — Make it to the office and immediately put my headphones in and get to work.
4 p.m. — This has been the WORST work day for me since returning to work. The project I was assigned yesterday is destroying me. Not only do I not know what I am doing but the tasks are time-consuming. I’ve messaged no less than five cross-functional partners just to ensure I’m doing my job right. Both of my teammates are out of office today so I’m also picking up their slack and I am feeling the opposite of support. I can’t (won’t) work late tonight because of the program happy hour and that’s far more important. I pick up all my belongings and head to my car. I listen to The Friend Zone podcast as I commute to the happy hour location, which is a brewery.
4:25 p.m. — The happy hour starts in five minutes but I just sit in my car and decompress a bit with my podcast. I am mentally tired. Now I must network.
6:45 p.m. — The happy hour goes better than expected. Some light bites are provided but no beer or cider…which is odd. I refuse to pay for a drink and sip on the free water provided. It’s actually nasty but the event is outdoors and I don’t think I’ve drunk much water this week. I chat with a lot of my peers and some folks that are a year ahead of me in the program. They offer reassuring advice about the first few months on the job. I am proud I stuck it out. One funny thing though — my program director mentions how bad the company is at onboarding and I just want to be petty so I ask why won’t he do something about it considering he’s in charge. It’s wild to me how people are just okay with mediocre being the standard. Anyhoo. I head home exhausted.
7:30 p.m. — E. and I arrive home at the same time. We decide to heat up a frozen pizza and call it dinner. I get some texts from my cousin with feedback on my TikTok videos. It all makes sense but I’m too tired to do anything about it.
8:4 p.m. — I head to bed with the intention of getting to the office early. Most of my office WFH on Fridays but I have too much to do and I focus better in the office. Lights out by 9:20 p.m.
Daily Total: $0
Money Diaries are meant to reflect an individual’s experience and do not necessarily reflect Refinery29’s point of view. Refinery29 in no way encourages illegal activity or harmful behavior.
The first step to getting your financial life in order is tracking what you spend — to try on your own, check out our guide to managing your money every day. For more Money Diaries, click here.
Do you have a Money Diary you’d like to share? Submit it with us here.
Have questions about how to submit or our publishing process? Read our Money Diaries FAQ doc here or email us here.
Like what you see? How about some more R29 goodness, right here?
A Week In Virginia On A $158,000 Joint Income
A Week In Fort Garland, CO On A $57,398 Salary
A Week In Bellingham, WA On A $410k Joint Income
This article was originally published on refinery29.com.