A Week In Chicago On A $97,500 Salary

Occupation: Financial planner
Industry: Wealth management
Age: 26
Location: Chicago
Salary: $97,500
Financial Setup: I have a medium-distance boyfriend, J., but we do not share finances. When we are together, he generally buys the bulk of our meals/outings, but I’ve included the costs in my diary.
Assets: Checking #1 (used for recurring bills): $2,455; checking #2 (my spending money throughout the month, as well as where my investment contributions come from): $2,440 (both checking accounts get spent down to zero throughout the month then replenished. This is how I budget my spending); HYSA emergency fund: $10,000; brokerage account: $1,000 (I just started contributing here in January); current employer 401(k): $16,775; traditional IRA: $32,100; Roth IRA: $5,200; HSA: $1,300 (I use this regularly for therapy).
Debt: Student loan: $5,725; 0% credit card: $1,680 (this is debt that I incurred when going through a breakup in 2023. It started out closer to $10,000, but I am finally close to paying it off!).
Paycheck Amount (1x/month): $5,390
Pronouns: She/her

Monthly Expenses

Housing Costs: $2,030 (not including utilities listed below). I live alone and rent a two-bedroom apartment in a popular neighborhood for young adults in Chicago.
Loan Payments: $43 to my student loan; $850 to my 0% credit card.
Spotify: $16 (I pay for the family plan for my siblings, dad, and a couple of friends).
Internet & Cell Phone: $45 (bundled with a local provider).
Electricity: $50 (average).
Gas (Heating): $60 (average).
Pet Insurance: $49
Gym: $125 (this is the Aaptive membership through my health insurance. It grants me access to multiple gyms and fitness centers throughout Chicago).
Nespresso: $39 (recurring delivery for 30 pods/month).
DoMore: $7 (weekly tickets to events/concerts throughout the city). Automatic Brokerage Contribution: $500
Automatic Roth IRA Contribution: $583
Automatic 401(k) Contribution: $406 (pre-tax; matched 100% by my employer).
Automatic HSA Contribution: $358 (pre-tax).

Annual Expenses

American Express Platinum Fee: $695 (this fee pays for my Hulu subscription, $200 in airline credit that I always use,  Paramount+, Uber credit I always use, and other perks that make the fee worth it for me).
Renter’s Insurance: $112

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?
Absolutely. Growing up, my parents both had their bachelor’s and were in the camp of “You must do some sort of education after high school.” To them, this meant college or a trade school. It was never a question of if I would go to college, the question was where I would go. That being said, they also made it clear that I would be 100% responsible for paying for school. I received scholarships (both merit and need-based) that paid for the majority of college, including some room and board. The student loan I have paid for the honors college room/board (the most expensive dorm at my school) for my freshman year of college. After that, I lived in a cheap apartment off-campus and worked two or three jobs at a time so I wouldn’t have to take out more loans.

Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
I had minimal direct conversations about money with my parents, but there were always comments made about what we could or couldn’t afford. I never really knew how much they made, but I knew we were middle class and didn’t worry about necessities. My mom taught me how to shop for store-brand items and how to find the best deals in the grocery store, and at one point once we were all adults, my brother made a comment that he thought we were poor growing up because we ate beans and franks so much (my mom didn’t like to cook). I knew my dad was the higher earner, but he was also the more frugal one. My mom always has her nails done and a newer car, but to this day my dad still drives the same truck he bought when I was in middle school. We always had enough money to get friends presents for their birthday parties, but we rarely went on vacation, and when we did it was domestic and we would drive to the destination instead of paying for plane tickets. After my parents divorced, it was very clear that my mom was horrible at managing money. To this day, she borrows money from me sometimes, but she still gets her nails done. My dad got laid off from his high-paying job when I was a senior in high school, and this was the first time he was honest with me about money. His day-to-day spending habits didn’t change too much from what I noticed, but he wasn’t able to give me a graduation gift and would make jokes that our inheritance was gone.

What was your first job and why did you get it?
When I was 13, I worked for a family friend’s food trailer in the summers. Think funnel cakes, ice cream, and food you’d find at a state fair. I would often work 70-80 hours a week earning $8 an hour cash. This would be my spending money throughout the year, since I did not get an allowance and my parents were not the type to give me money to go to dinner with friends or buy my prom dress. I did this every summer until I went to college and found a less strenuous job in my college town that I could work throughout the year.

Did you worry about money growing up?
Yes and no. I knew we were never in danger of losing our home or not having food on the table, but I was always scared to ask my parents for things. For example, in middle school I was offered a spot on a traveling volleyball team. However, it would cost a few thousand dollars between all of the fees, equipment, and travel costs, so I turned it down without even asking my parents if we could stretch to it. I knew the answer would likely be no, or that my dad would try to make it work to make me happy but it would mean quietly sacrificing something for himself.

Do you worry about money now?
I do, but I think that’s part of the nature of my job. I manage money and plan finances for wealthy clients, so I look at their budgets and net worth all day. It’s hard not to compare yourself and worry when you’re looking at someone five years older than you earning 10 times what you make. That being said, I know I make great money for my age and I have a comfortable budget where I can save a good chunk of money monthly and still enjoy living in the city. I do have a hard time saying no to events and outings with friends, but this means I put off other purchases (like furnishings for my apartment) until I really need to buy something (if I can’t find it cheap/free off Facebook Marketplace first).

At what age did you become financially responsible for yourself and do you have a financial safety net?
I became financially responsible for myself the minute I went to college. Neither of my parents are in a spot where they can help me out monetarily (in fact, I’ve loaned money to both of them in the past, and I still occasionally loan money to my mom or buy her gas while I’m visiting). If I was in a really tough spot, I could move in with my dad and stepmom, but this would be a last resort (and isn’t something they would offer even if they heard I lost my job; I would have to ask).

Do you or have you ever received passive or inherited income? If yes, please explain.
No, and I don’t expect to receive anything from any family members.

7 a.m. — I wake myself and P. (my mini dachshund) up earlier than normal because I have a client meeting at 8 a.m. I work completely from home, which I love. I take P. on a quick walk outside, then make a coffee (I love my Nespresso, worth the splurge on pods) and read through the meeting agenda. I skip breakfast, as I’m not feeling hungry yet. The meeting was long but not too complicated, and I reward myself with a (free) Starbucks coffee that they’re giving away because of the Super Bowl (I don’t know, I don’t question it). I run down the street to pick it up and get back to a few emails that I need to answer.

12 p.m. — It’s lunch time, and I remember I skipped breakfast. My stomach is growling but I am completely out of groceries, save for a baguette from Trader Joe’s. I have some of the baguette with butter and push through some internal meetings, vowing to go grocery shopping once my meetings are done.

3 p.m. — I’ve gotten enough work done for the day that I can log off without feeling like I’ll regret it tomorrow. I take a quick shower then walk the mile to Aldi. I do a full grocery shop, getting enough groceries for the week along with a few extras (white cheddar cheese puffs, I love you). I get ingredients to make yogurt bowls, shepherd’s pie, chicken and rice bake, chicken sandwiches, and avocado toast, along with my weekly staples like half-and-half for my coffee. $44

5 p.m. — I walk back home, drop off the groceries, then walk over to Jewel-Osco to pick up the few items I couldn’t find at Aldi, which includes berries on sale (cheaper than Aldi’s full price berries) and a rotisserie chicken. $21

5:30 p.m. — While I’m at Jewel my vet calls: P.’s travel medicine is ready. P. travels with me every couple of months on planes, and I’m out of the medicine I give her to help her anxiety during takeoff and landing. I stop in while on my walk home and pick up six pills for $32. It’s a bougie vet (read: expensive) but they’re kind, quick, and the closest vet to me. $32

5:30 p.m. — After the vet, I stop at the gas station for a Diet Coke and chocolate bar, telling myself I deserve a little treat for how productive I’ve been. $4

6 p.m. — Once I’m home, I force myself to prep what I need for meals this week. I de-bone the rotisserie chicken so I can make broth from the bones tomorrow. I also rinse and cut up the berries, sticking some in the freezer to make chocolate-covered strawberries tomorrow. Then, somehow, it’s already 6:30 p.m., so I bundle P. and myself up and head over to my friends’ apartment. We all watch The Bachelor on Monday nights at their place. None of us like the dude this season, but he makes for some great reality TV. We’re all exhausted, and I’ll be seeing them all later this week, so as soon as the episode is over, P. and I head home.

9:30 p.m. — I want to call it an early night, but I realize I was so busy I didn’t make time to eat dinner (this is super abnormal for me — I’m usually a “three meal a day plus snacks” sort of person). I throw together a quick peanut butter sandwich, telling myself that this is more balanced than just having the chocolate bar I ate earlier. I’m finally ready to do my skincare, brush my teeth, and get in bed, all by 9:30 p.m. Win!

7:30 a.m. — My alarm goes off, and I quickly get out of bed so I don’t have the chance to snooze it. I take P. out to potty and make coffee and breakfast (Greek yogurt with berries and granola). After I eat, I get myself ready for the day and sit down for my morning meetings.

11:30 a.m. — I made it through my meetings! I prep a chicken broccoli rice casserole and bake it for lunch. I’ll eat it over the next few days, too. It’s… fine. It’s not great, but it’s not bad either.

3 p.m. — I finish up work and am craving a Diet Coke, bad. I have been in a very bleh mood today, and I know a walk outside and a cold Diet Coke would put some pep in my step. I don’t let myself buy Diet Coke with my groceries because I have terrible self-restraint and would drink multiple cans a day. Instead, I let myself go out and buy one fountain soda a day, which ends up being cheaper (and healthier) for me in the long run. It’s P.’s birthday today (she turns 3!), so instead of just ordering a Chick-fil-A Diet Coke like I planned, I end up ordering a kid’s meal so she can have a nugget and a few fries (her favorite). I upgrade to a large Diet Coke, and I learn that the kid’s meal comes with ice cream, nice! I’ll stick it in my freezer for later. I realize about half way through my walk that I could’ve gotten a similar meal at McDonald’s for $6, and I probably should’ve, but it’s too late to cancel my order. After I pick up the food, I get a survey for a free chicken sandwich, which is worth about $6, so I fill out the survey and call it even. P. loves her treat, and I enjoy finishing off the nuggets and fries as an afternoon snack. $10

5 p.m. — I’m selling a bunch of extra stuff I have laying around on Facebook Marketplace, and someone comes by to pick up an old playpen I had for P. That’s $40 made! It’ll be spent furnishing my new apartment. I just moved in in December, and between the holidays and some traveling, I have not focused on fully making this place my own yet. I work from the couch for another hour or two while 30 Rock plays in the background. I heat up some of the chicken and broccoli leftovers for dinner, and it’s actually a bit better reheated? I have the ice cream I saved earlier for dessert.

9 p.m. — P. goes out for a final potty break, and our neighbor’s dog is also outside in our shared backyard. My neighbor and I catch up while we let the dogs play for a bit. Once I get P. back inside, we do our normal bedtime routine, and it’s lights out.

7:30 a.m. — I snooze my alarm for 10 minutes then get up and do my normal morning routine. Breakfast today is banana on peanut butter toast, and while the bread is toasting I throw in a load of laundry. I am hosting Galentine’s today and we’re having a movie night, so I’m washing all of my blankets before everyone comes over (P. loves to snuggle in blankets with her bones, and I don’t want to subject anyone to cuddling with dog treat crumbs). I get logged in for work and plan my day. I have a few client meetings, but Wednesdays are “wellness” days, so everyone logs off at 2 p.m. This is usually when I work out and do therapy (paid for through my health insurance/HSA dollars), but instead of therapy I make a plan to run a few errands before hosting.

12 p.m. — I heat up some leftovers in between meetings. I also take a few minutes to clean up my apartment and switch over the laundry. The Roomba is working overtime today, and I’m extremely grateful.

2:30 p.m. — I log off work and get ready for Pilates and to run some errands. I have to go downtown to pick up parking stickers for my guests today since I procrastinated ordering them online (oops). I take the bus down, hoping that City Hall isn’t closing early due to the incoming snow storm. $2.25

3:30 p.m. — City Hall indeed closed early because of the snow — annoying, given I even checked their website ahead of time and there was no mention of the closure. Oh well! I get back on the bus (which is free — Chicago transit allows up to two additional rides within two hours for free, it’s such a great deal) and head uptown.

4 p.m. — I have an hour to kill at the grocery store before Pilates. I pick up everything I still need for tonight: popcorn, grenadine syrup, Sprite (we’re making Shirley Temples), heavy cream, and whipped cream. I love hosting, but it can definitely get expensive. $24

6:15 p.m. — Pilates was exactly what I needed — challenging but not impossible. I can go to Club Pilates locations as part of my monthly gym membership. I am used to mat Pilates and find this a bit easier since you have equipment assisting you, but it’s still a good workout. I catch the bus home to finish preparing for the party. $2.25

11 p.m. — Finally in bed! Galentine’s was great even though a few people couldn’t make it because of the snow (which rendered the parking pass situation a non-issue). I made chocolate mousse and some of the other girls brought treats, we watched Bridesmaids (free on my boyfriend J.’s Amazon Prime account), and it was so awesome seeing everyone. After the movie, everyone left, and P. and I promptly got in bed.

8:30 a.m. — Going to bed late really got me. Days like this are when I’m so thankful to be permanently remote, because I snooze my alarm for almost an hour before pulling myself out of bed. P. and I get ready for the day like normal (maybe a bit slower than normal) though. Breakfast is yogurt, berries, and granola again, this time mixed with some leftover chocolate mousse, which makes it feel like dessert.

11:30 a.m. — Time flew by at work this morning. I had to set my annual goals today, so I spent a lot of time talking with my supervisor and researching a certification program I might attempt over the summer. I take a break and make some lunch: a chicken and avocado sandwich with spinach (toasted, of course). I get back to work to knock out some time-sensitive projects for clients.

2:30 p.m. — I have time for a break, and while I took a body shower earlier, I can’t ignore how greasy my hair has gotten. I wash my hair, crossing my fingers it dries in time for my afternoon Pilates.

3:45 p.m. — I leave for Pilates, walking both ways to get my steps in and save money on bus fare. If the destination is within a 40 minute walk and I have the time, I’m walking (yes, my friends constantly remind me I’m crazy for this). Even in this 10 degree weather, I bundle up and enjoy the fresh air.

6:30 p.m. — I make it home and let P. out to potty before quickly heading back out the door. I originally had tickets to a concert tonight (included with my DoMore membership), but my friend E. moves in with her partner tomorrow and is still not finished packing, so I ditch the concert to help her pack instead. I take the bus downtown ($2.25) and stop at a hardware store to pick up a few boxes for her ($22) which she quickly venmos me back for. $2.25

8 p.m. — We get E. packed up and organized, and I head back home on the bus (free, since I’m within the two-hour window). I heat up some leftovers for dinner and cuddle with P. while watching 30 Rock. I start to fall asleep on the couch, so I do our bedtime routine and am in bed by 10 p.m.

8 a.m. — Valentine’s Day! My medium-distance boyfriend, J., will be here around lunch time to spend the weekend with me. We only live three hours apart, but I don’t own a car and trains and buses to his city are almost nonexistent, so we only end up seeing each other about once a month. I realize I planned to wear a dress tonight, and I haven’t shaved my legs since Christmas, so I run to the store and pick up a fresh razor before getting in the shower. $10

12 p.m. — After my shower, I pick up the apartment a bit, make breakfast, and settle into work. My work is hosting a luncheon today, allowing me to get takeout up to $35 from UberEats on the company’s dime. I have leftovers in the fridge, but I’m not going to pass up free Shake Shack! I add a 35% tip to use up the full budget, and everything gets automatically reimbursed. J. arrives a little after 1 p.m. and he cuddles with P. while I get some work done. $34 (Expensed)

4 p.m. — Life keeps popping up (I have three different friends call me in the afternoon, which is really unusual), so I don’t log off until almost 4 p.m., even though I had planned to log off early to hang out with J. J. and I spend an hour catching up and relaxing, and then I get ready for our dinner plans. This is our first Valentine’s Day together, and neither of us think it’s a huge deal, but we do want to make it a bit more special than normal. I throw on a full face of makeup, do my hair, and put on my dress. Since I wasn’t able to get street parking stickers earlier this week, I use SpotHero to grab an overnight parking space nearby for J. ($13.75), which we move his car to before walking to dinner. $13.75

7:30 p.m. — It started snowing HARD on the way to dinner, and I regret wearing a dress and exposing my legs to the cold. The restaurant is amazing though, and we enjoy sweet potato risotto and a chocolate lava cake for dessert. I also get a Valentine’s-themed cocktail and a coffee with my dessert. J. pays (I do the rough math in my head and assume it’s about ~$90, given we split the entrée). We’re exhausted afterwards, so once we get home we get ready for bed and quickly pass out.

8:30 a.m. — We wake up and make some coffee at home. P. goes out to potty, and the neighbor’s dog comes out to play. We watch them play for a bit and catch up with the neighbor. My friend, E., finished her move yesterday but is giving me some of her extra furniture, so we get ready, decide to skip breakfast, and head out in J.’s truck to meet her.

10 a.m. — One of the items I’m taking from E. is a mattress for my guest bedroom, so J. and I stop at Home Depot for a mattress bag to keep it clean while we move it. We also have to pick up a hex key set to take apart some of the other furniture we’re taking, and J. grabs a bag of Doritos and a Diet Coke, since we haven’t eaten yet. $32

1 p.m. — We are exhausted after spending the last few hours taking furniture from E.’s old place to my apartment. I buy lunch for J. and me since he did a lot of the heavy lifting. He picks Chick-fil-A. $27

3 p.m. — I extend J.’s parking spot reservation until Monday morning. He offers to pay me back, but I don’t let him since he did all of the driving to get here in the first place. $31

8 p.m. — We spend the rest of the afternoon catching up on Severance and lounging around the apartment. I finally get hungry again and heat up some leftovers. J. bakes a frozen pizza for his dinner. We watch a couple of movies (Blink Twice, which was just okay, and You’re Cordially Invited, which is pretty funny and more my speed) on J.’s Amazon Prime, and then call it a night around 10:30 p.m.

8 a.m. — J. has already been awake for an hour, but P. is now making me wake up to take her outside. I groggily get up and make coffee and take her out to go potty. J. and I curl up on the couch and decide what to do with our day. I am speaking at my alma mater in a few weeks and haven’t nailed down my presentation, so I dedicate the day to finishing up some visual aids and mapping out the presentation topics. J. lets me bounce ideas off him while he watches Shogun (one of his favorites, but I can’t get into it, which allows me to focus).

1 p.m. — Neither of us have eaten yet, and my stomach won’t stop growling. I’m not finished with my presentation, but I need a break and some food. J. is what I call a “chicken tender boyfriend”, meaning he’s an incredibly picky eater, so when we’re together we normally order out instead of cooking. That being said, he normally pays for it since I would prefer to cook/we’re getting takeout because of him. J. orders us Shake Shack (I know I just had it a couple days ago, but I make the hugeeee sacrifice to have it again). He pays (my food was $17). After eating, we doze off for a bit on the couch together. I wake up to keep working while J. continues to nap with P.

4 p.m. — I’m finally done with my presentation work! I want to get outside, so J. suggests we take P. on a long walk. We bundle her up and take her to a local pet store about a mile away. I love watching P. get excited over all of the treats and chews in a pet store. She won’t leave the trachea section alone (gross), so I get her one for later. We head home, contemplating which local restaurant we want to try for dinner. $9

6 p.m. — J. wants Italian for dinner, so we pick a place near my apartment. It’s Midwestern Italian in the best way — too much butter and huge servings. I get fettuccini alfredo with a side salad covered in ranch. J. orders a personal pizza and some garlic bread (which I steal one piece of, and it’s delicious). We both get Diet Cokes, and are pleasantly surprised with how good the fountain Diet Coke is here. J pays the bill (~$60), and we take home enough leftovers to last us another two meals.

8 p.m. — We somehow got on the subject of Bullet Train during dinner, so we decide to rewatch it using J.’s Amazon Prime once we get home. It’s as fun as I remember, and I will never say no to watching Aaron Taylor Johnson. I eat some tiramisu I have in the fridge (one of the girls left it after Galentine’s) for dessert. P. happily chomps on her trachea. After the movie, it’s time for bed. J. has to head home around 5:30 a.m. tomorrow to be on time for work, so we get ready for bed and he promptly falls asleep. I scroll on my phone for a bit, then it’s light’s out.