A Week In Boston On A $202,000 Joint Income

Occupation: Executive Assistant
Industry: Investment Banking
Age: 30
Location: Boston, MA
My Salary: $92,000
My Husband's Salary: $110,000
Net Worth: I have no clue, and quite frankly I'm not bothered that I don't know. I have $2,100 in my joint savings with my husband and $14,000 in retirement savings through my employer. We also own our house, which is worth $570,000. My husband and I have joint checking and savings accounts where we contribute 50/50 of our shared expenses. I'm also an authorised user on two of his credit cards and I try to pay down what I've used.
Debt: I have $58,000 in student loan debt, $17,000 in debt for a car, and $500 in credit card debt. My husband and I also have $559,675 left of our mortgage.
My Paycheck Amount (biweekly): $2,800
Pronouns: She/her

Monthly Expenses
Mortgage: $4,054
Car Note: $561
Student Loans: in forbearance
Credit Card: $100-$200
Childcare: $600 (my half for childcare split with my mother-in-law. At the moment my husband works overnight and is home during the day so we haven't paid that for the last month or so.)
Commuter Benefits: $300
Streaming Subscriptions: $100
Savings: $50

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?
I'm not sure. Neither of my parents completed their own college education journeys, but I was a very headstrong and ambitious older child and knew I wanted to go to college. My father never deterred me from my goals. I paid for undergrad with a scholarship and grad school with student loans. I studied performing arts, which was my dream at the time.

Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
We didn't. Money was never discussed, even when I went to college and was starting to learn about wealth. We always lived comfortably, but we moved a lot and never talked about why.

What was your first job and why did you get it?
In high school, I worked at Party City during Halloween so I could pay for my college applications. It made me realise that I wanted a fulfilling career.

Did you worry about money growing up?
No, and that's primarily because I didn't fully understand the concept of money and how to obtain it outside of hard work and good grades. I didn't need money for social outlets because most of my paths to do so were instilled with my performing arts education in high school and college. I didn't start to worry about money until graduate school when I didn't have the hefty scholarship and had to take out loans. I almost wish I took a gap year.

Do you worry about money now?
Yes and no. My husband and I met when we were 19 and broke, but happy. We're now in a position of being comfortable but have a hard time saving for big emergencies. I worry a little about retirement savings and college savings for our two boys. This summer I worried about housing — we ended one lease thinking we'd find another rental with ease but came across a ridiculous market and decided to buy a house. Since we've closed on our house, I'm just worried about being able to save and have started thinking about side hustles or a complete career shift so we can account for the uncertainties of life.

At what age did you become financially responsible for yourself and do you have a financial safety net?
I would say when I turned 26 and had our oldest. Would I still consider myself financially responsible? Yes and no. I don't think I manage my money well and I'm doing my best to grow, learn, and make better financial decisions. I don't have a safety net.

Do you or have you ever received passive or inherited income? If yes, please explain.
No.

5 a.m. — I wake up to see that both of our boys ended up in our bed. My husband got home about two hours ago from his overnight shift, so we sit and chat before I take a shower, dress, load and unload the dishwasher, and feed our dog. I also defrost some meat for dinner. I leave for the commuter rail station at 6:15 a.m. and arrive earlier than expected. I sit in the parking lot, pay $4 for parking on the app, and check to make sure I have tickets available on my other app for the commuter rail. Turns out I don't, so I pay $22.95 for a roundtrip using my commuter benefits (so nothing out of pocket for me). $4

12:43 p.m. — I normally take an earlier lunch, but today has been crazy with requests. After I escort a client to a meeting, I head upstairs to the dining hall and pay for my lunch. We have it taken out of our paychecks and can grab as much as we'd like, which is incredible considering if I went out to eat near work, I'd easily pay $15-$20. I'm also not in the office every day, so it's not a bad deal. I sit with a few of my work friends and discuss House of the Dragon. $8.50

1:40 p.m. — None of my office clothes from before the pandemic fit and we have a big client coming in tomorrow, so I walk over to H&M during a quick break to find an autumn jacket and a dress. I'm on the phone with my husband, C., during the whole process but mute myself when I go to check out. He makes 6% more than I do, and I'm proud that I can contribute, but we have different ideas on what healthy spending looks like. As a woman of colour who is heavily scrutinised on her appearance, I don't feel like arguing with him about how this is an investment. $104

8:14 a.m. — I place a mobile order for my regular coffee run right next door to the office, but lately these guys have been running way behind for mobile orders. I give myself 30 minutes, but it's still not ready so I politely ask if the cup in the far back is mine. It is, and the barista starts making it, though he is judging my selection preference. I'm trying to maintain my cool, as I've been in his shoes before, but I'm a little disappointed. $8.50

12 p.m. — Lunch again in the dining hall. I appreciate and recognise my privilege even as a WOC and find myself sometimes feeling guilty for what I clearly know I've worked for. I have no one to sit with, so I put in my AirPods and blast Eminem. I may have a Bachelor's in Voice Performance and can sing in five different languages, but there's nothing like a little rage music and Eminem is truly gifted in my opinion. Today has been particularly challenging with a few microaggressions and I find it soothing to listen to people scream-sing. $8.50

3:50 p.m. — I leave work early because there is a ton of traffic and I want to get home in time for my husband to head out for his night shift. I get a text from my bank confirming the $24 deduction for parking. I call T-Mobile as we are switching, and I need to pay off the balance of the device ($168). I plan to work from home tomorrow and can't wait; this commute is sometimes rough. $192

8:30 a.m. — I roll out of bed and get my boys downstairs for breakfast. I head into my home office and check emails briefly before making instant coffee and checking our bank statements for the day. Seems our homeowner's insurance hasn't posted yet and I'm just trying to keep all of our ducks in a row. We closed on the house about two months ago and our first mortgage payment is coming up — I'm excited and nervous and as a result, I've been checking my accounts almost daily. We also owe taxes this year so I know financial discipline is not something I can shrug off anymore.

12 p.m. — Working from home is great because I don't spend any money. The only struggle is keeping my boys entertained when I need to focus. I'd love to keep them in daycare full-time, but we can't afford it. I'm eternally grateful for my mother-in-law's support. You need two incomes in Boston, and we don't make a small amount, but sometimes it doesn't feel like it's enough.

6 p.m. — Dinner is tomato soup and grilled cheese. I put the boys to bed and then do some cleaning until I go to bed.

6:25 a.m. — Another day in the office since we're expected to go in three days a week. I'm taking the train in today. I pay $4 to park at the commuter rail station and use my commuter benefits to pay for the train. I text C. letting him know I fed our dog and what I'm thinking of cooking for dinner with the meat I left out. We've been together 12 years, married for two, and it feels good that we're now at a point in our relationship where communication is easy. $4

11:30 a.m. — Lunch again in the dining hall. $8.50

6 p.m. — I am too tired to even think of cooking and cleaning. Work was beyond stressful and I decide to give myself some grace on what mothering looks like today. In addition to working and being a mother, I've been cleaning parts of the house every night when the boys go to bed, and I need a break! I grab us fast food on the way home. The boys and I bond over fries. $20

8 a.m. — Today is a remote working day. I completely understand why people have opted for fully remote and I admit that I do not want to be an EA forever. I've been in this role for six years, trying to find a way to transition to a position other than administrative support. Unfortunately, I haven't had a lot of success in finding other jobs. Once an EA, always an EA, which some people love, but I am not a career EA. I do some research on software engineering and check out some programs to see if I'd enjoy that field. I admit that I am 30 and still don't know what to do with my life, and that's okay. However, I do know what kind of life I want to lead and live, which has been my true north star in this journey called life.

5:30 p.m. — It's Friday night, which is traditionally pizza night for our family. It also gives me and my husband a break from cooking. We both love food, but it's been difficult with him not being home for dinner. I take my boys on a ride to check out a local pizza shop. We opt for take-out, but I love taking my boys in to see where they'll be growing up. We grab a few pizzas and head home. $58.17

9:30 p.m. — I read a few books and sing a few lullabies to my boys as they fall asleep. I call C. at work and tell him about my day and express my interest in doing yet another career shift. He has always supported my dreams. I tell him about his cannabis plants in our spare room and how they're doing. Since it's been legalised here, we figured we might try our hand at it. I smoked in school and only recently decided to do it again with him on the weekends (four years of being pregnant and breastfeeding both boys made me stop cold turkey).

8 a.m. — It's the weekend! I spend the morning in bed with the boys.

11 a.m. — It's grocery shopping time. We have a budget of about $1,000 for groceries a month and have done a decent job of sticking to it. Our family loves food, and after a summer of takeout due to not having a kitchen, we're thankful we can make home-cooked meals again. I get us enough to last us for about two weeks. $289

5 p.m. — We spend the rest of the day relaxing at home.

8 a.m. — I wake up and slowly get ready for the day.

10 a.m. — My in-laws are coming over for Sunday dinner and I realise I forgot to grab Coronas. I head to the local liquor store and grab a pack and some lighters for my candles at home. $20

2 p.m. — Everyone comes over and we start cooking while watching the football game. It feels good to end the week with family. I'm sure I'll have a new challenge Monday, but I am truly grateful for the life that I have. I'm grateful for my loved ones and looking forward to where we go next. Even in my money struggles and marriage/motherhood struggles, I couldn't have asked for a better outcome for this season of my life. I appreciate it more when we have family over.