Refinery29
A Week In Providence, RI, On A $54,300 Salary
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: a social media coordinator who makes $54,300 per year and spends some of her money this week on margaritas. Occupation: Social Media Coordinator & Consultant Industry: Construction and HospitalityAge: 22Location: Providence, RI Salary: $54,300Net Worth: $6,000 ($20,000 in savings, $4,500 in 401(k), $4,000 in Roth IRA minus debt.)Debt: $22,500 in student loans Paycheck Amount (biweekly): $1,426Pronouns: She/her Monthly ExpensesRent: $350, I recognize that this is wildly inexpensive. I am very fortunate to have a relative as my landlord and she gives my roommate/sister and I a very generous family discount! Student Loans: $211401(k): $286 (company matches 75% of what I put in, giving me an additional $214 to this account monthly)Spotify & Netflix: $0 (suffer through ads and mooch off the family Netflix account) Health Insurance: on my parents until I am 26 Car Insurance: $120 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, growing up there was always an expectation that I would go to college. There was never pressure applied to the situation though, it was sort of just implied that after high school comes college. I was very lazy about the whole admissions process so it wasn’t until November of my senior year that I began really considering how college was going to be paid for. My mom very generously covered the federal loans I was granted, while my dad helped me cover things like housing and meal plans. I was left to cover…