Pandemic micro-weddings are all the rage for couples who were planning to get married in 2020. If you recently had a micro-wedding or are having one in the near future, we want to know how much you spent on it and how it affected your budget for a future big wedding celebration. Tell us all about it here.
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.
This week a project manager who makes $121,000 per year and spends some of her money this week on blue crabs.
Occupation: Project Manager
Industry: US Government
Location: Prince George’s County, MD
Salary: $121,000 (my husband is a full-time parent — so just my income)
Net Worth: $98,800 (Savings + money market account + stocks + 401(k): $256,800. Mortgage is $158,000 and we have no other debt.)
Debt: $158,000 mortgage (We have no student loans since we paid off the remaining balance with cash from our savings four years ago.)
Paycheck Amount (biweekly): $3,170
Extra Mortgage Principal Payment: $470
House Interest, Taxes, Insurance: $984
Car: $0 (Paid for in cash. Bought it used.)
Peleton App: $14
Homeschool Tutoring: $300 every 12 weeks
4-H Club Dues: $10 annual fee
Electricity: $300 (less in the winter)
Water: $60 (billed quarterly)
Gas: $25 (inverse relationship — gas goes up in winter for our heating needs)
Pool Membership: $600 annually
Car Insurance: $1,100 annually
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, it was expected I go to college. However, it was never clear what I would do with a college degree or how I would manage the debt. I graduated from an all woman’s college in 1999 and joined the Peace Corps. I finished an online Degree in Public Administration (with honors!) in 2013 while working full time. My agency covered 2/3 ($7,000) of the cost as business credits were required for my position. I covered 1/3 ($3,000) of the total cost. It took me three years, but I finished the degree as a working adult and walked away with no debt. I am currently pursuing my PMP level II certificate at no cost through the federal certification program.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
Zero. My family was ’80s rich — big house, flashy cars, big vacation. All on a mountain of debt that crashed in the 87/88 recession. My parents lost everything — house, cars, all of it. My older sister had to drop out of college for a time because she missed the student loan deadlines and my dad couldn’t pay her tuition. My dad moved us to rural MA from a cosmopolitan DC suburb. It dramatically changed my life at the age of …read more