A Week In Irvine, CA, On A $190,000 Joint Income

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 administrative assistant working in Government who has a joint income of $190,000 and spends some of her money this week on Warby Parker glasses.

Occupation: Administrative Assistant
Industry: Government
Age: 31
Location: Irvine, CA
My Salary: $58,000
My Partner’s Salary: $132,000
Net Worth: -$89,879 (This is what we’re working with thanks to my two college degrees with a third one in progress. This number is mine and my partner’s total debt, minus our joint savings and checking accounts, my 457 deferred compensation plan, and my partner’s 401(k). As a government employee, I am a member of CalPers and will receive a pension calculated from my years of service and highest paid salary, so I don’t have a traditional 401(k) and am not counting my pension as part of our assets.)
Debt: $140,000, mainly from my student loans.
My Paycheck Amount (2x/month): $1,555
My Partner’s Paycheck Amount (2x/month): $3,300 (partner’s)
Pronouns: She/her/ella

Monthly Expenses
Rent: $3,295 (My partner and I share a two-bedroom, two-bathroom apartment that we recently moved into, and it was definitely a splurge for us. The apartment company had a move-in special so we ended up getting $9,000 off in the form of two and a half rent-free months, so we actually pay right around $2,800 a month. We really love our place, mainly because of the floor-to-ceiling windows in our living room and dining area that give us amazing natural light at all times. Our quality of life has improved so much since moving here.)
Car Payments: $838
Student Loans: $0 (currently in deferment since I am in grad school)
Utilities: ~$60
Internet: $75
iCloud Storage: $0.99
Car Insurance: $440 (this includes coverage for both of our cars and my partner’s dad’s car)
Cell Phone: $359 (we pay for my partner’s dad’s phone service as well)
Charitable Donations: $65 (Grl Collective, Black Lives Matter, Border Angels)
Peacock: $4.99
Netflix: $13.99
Fubo: $75
Hulu: $11.99
Spotify Premium: $0 thanks to my sis
Wix: $28 (I have a website for my bakery side-hustle that is more side, less hustle these days. But I pay the monthly fee to maintain the domain so no one can steal it and the mailbox.)

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?
Hell. Yes. My dad only completed a few college courses and never got a degree. My mom immigrated to CA from Mexico when she was a teenager, and she started working and taking English classes right away. It was always understood that college was the path for myself and my sisters and that they wanted more for us than what they had. My parents never even entertained the idea of community college first, it was always understood that we would all go straight to four-year universities. My parents took out parent-plus loans for my sisters and …read more

Source:: Refinery29


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