A Week In New York On A $57,000 Salary

Occupation: Martial arts studio co-owner and freelance gig worker
Industry: Health and wellness; hospitality
Age: 39
Location: New York
Salary: ~$57,000 (this depends on how many freelance gigs I can book). My husband and I do not share finances; rather, we cover separate expenses (he pays for internet/phone: ~$200; Netflix: $17.99; MAX: $16.99; plus the bulk of the groceries).
Assets: Investments (not liquid): between $45,000 and $52,000, depending on the market.
Debt: $33,000, divided between three credit cards.
Paycheck Amounts: $240 (weekly); $195 (biweekly); $150 (monthly); $1,000 (monthly); $1,000 monthly (as mentioned, paychecks can fluctuate based on how many gigs I book).
Pronouns: She/her

Monthly Expenses

Housing Costs: $2,915 (apartment rent with mandatory renter’s insurance).
Combined Credit Card Interest: $400 
Gym: $100
Canva: $12.99
Cii Bike: $18.33
Pet Insurance: $31.13

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?
It was absolutely a given, but I regret not choosing a state school. I received a partial scholarship to a private school as well as graduate school, and I worked two to three part-time jobs to pay the rest, in addition to monetary gifts from my grandmother.

Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
A savings account was opened in my name by my grandmother and any money she gifted me was returned to her. My siblings and I were trained to gleefully say, “Put it in the bank!” after receiving a check. My mother was frugal, while my father was an impulse shopper, so my siblings and I received mixed messages. I did learn how to balance a check book and write a check (dating myself: we also had a safety deposit box).

What was your first job and why did you get it?
I was a school bus monitor for summer school, a babysitter, opened a cafe on the weekends, and a summer camp counselor. Looking back, I was way too immature for any of these responsibilities. I needed money for after school activities (and, clearly, I needed to stay busy all the time).

Did you worry about money growing up?
I was concerned about making money and having enough money, but I wasn’t deeply worried or stressed like I am daily now.

Do you worry about money now?
Freaked out about debt, savings and how I’m going to somehow make it every other hour of every day. Due to the gig industry, I am also constantly chasing down payments. I was delusional about how deep of a hole I was in prior to my previous Money Diary (a year ago). The comments did not hesitate to point this out! I really benefitted from listening to the haters and made a lot of the changes suggested: I terminated my coworking gym membership, I sold my car, and I applied for a credit card with a limited-time no-interest-rate introduction special to save on interest. (A genuine thanks, commenters!)

At what age did you become financially responsible for yourself and do you have a financial safety net?
I was financially responsible from college graduation until post-pandemic, when I had a stable salary, no debt, and large savings and investments. Debt accumulated during COVID-19 for my small business has set me back, so that I am not taking a salary and working multiple freelance jobs and am a “gig” worker to catch up. I have relied on my savings: Everything my grandmother gave me has been spent, I cashed in what investments I could, and sometimes I ask my mother to borrow money.

Do you or have you ever received passive or inherited income? If yes, please explain.
I cosigned a line of credit on my grandmother’s property, which allowed me to fund my small business almost 10 years ago. Interest and principal payments come from the business account, so this is not a personal expense. When we opened, we borrowed money from multiple family members, including $10,000 from my mother, which I have not paid back yet (originally, she considered it an “investment” and it’s still unclear if I’m paying this back or not, as there’s no structured plan).  Over the years, I was given $10 cash in an envelope for each birthday by my mother. My grandmother, as mentioned, often wrote larger checks for gifts. This all went to investments, most of which I liquidated in 2017.

6 a.m. — Wake up, make coffee, feed the cat, and immediately have to pay $200 towards credit card interest. I walk to work. 

7 a.m. — I unlock the studio for the morning shift. We have to be really particular about cleaning the mats, which are a specialty flooring for martial arts (think: bare feet on the mat, lots of sweat and kids are germ factories in general), so I arrive before class to do so, as well as turn on the heat, start laundry, and work checkin and customer service. One of the trainers brings me a coffee. After closing up, I stop at the bodega to buy a Quest protein bar. I don’t realise until I get to the counter that it costs $4.50! I almost tell the cashier to forget it, but there’s someone in line behind me and I am too embarrassed. $4.50

11 a.m. — I tap into the subway ($2.90) to head to a staffing agency that books me for gig work (think catering, coat check, etc) to pick up my paycheck (they refuse to offer direct deposit and issue hardcopy checks every two weeks). I bike back to work to open up for the afternoon class. After closing up again, I drop off supplies for a staffing job at a nearby location as a favor to my staffing agent. $2.90

2 p.m. — I unlock a Citi Bike and ride to the yoga studio where I am now participating in a karma program (cleaning mats, studio floors and lots of sweat in exchange for classes) for its off-peak class offering. (This program was one of the reasons I could terminate my gym membership. The karma program participants are expected to work two to three times a week, but we can usually take a class during our shift.) After showering and using all of the studio’s nice products, I unlock an e-bike and pay for the boost. $1.96

4:30 p.m. — Back at work for the evening shift. Another trainer is able to close up after his students, so I leave to take a restorative yoga class with a friend. It’s peaceful and moody and perfect. I walk her to her subway stop so we can catch up a bit. 

9:30pm: I get home in time for a salad (using groceries my husband V. already bought), then have an everything shower, cuddle the cat, and read my library book (The Wedding People by Alison Espach — after having it on hold for months, it finally came through!).

7 a.m. — Saturday is my favorite day of the week! Coffee, cat cuddles, and an anxious wait to hear back from staff about today’s schedule changes and call-outs. (In terms of my anxiety, the worst text I can ever receive is, “Can you talk?” Haha.)

8:30 a.m. — I walk to work, open for the morning shift and, once the other staff arrives, bike to the martial arts gym to train with some of my teammates (included in membership). It’s important to keep practicing martials so that I can properly teach the skill, plus it teaches kids so many important lessons, like dedication, discipline, teamwork and more. I take an e-bike back to work because my legs are so tired. $0.78

2:30 p.m. — I close up work for the day, stop for two “healthy” Olipop sodas and a Gatorade at a bodega (they are all for me, I’m so thirsty) on the way, disturb the cat’s peace, and get ready to head to a teammate’s karate competition. $11.89

4 p.m. — Receive a Venmo request from a friend for $30. It’s overdue and I honestly don’t even remember what I owe her for, so I pay it immediately (assuming it’s for snacks, LOL). I e-bike to the competition ($1.70). Admission is complimentary for gym members. Another teammate shares candy she smuggled in. Something about eating gummy worms while watching karate feels right. $31.70

6:30 p.m. — I’m scared that if I go home after the competition, I won’t go back out to a friend’s birthday. I take the subway ($2.90) from the competition to a friend’s apartment, where we chug water and I freshen up (I always have a travel toothbrush with me, an old habit I have from my 20’s when I was running to castings and bartending shifts). We take the subway together ($2.90) to our mutual friend’s 35th birthday party (we were all neighbors during COVID-19, when all we did was take walks and to-go coffees. I’m so happy the friendship lasted). $5.80

8:30 p.m. — At the party, I purchase the birthday girl a drink, while my friend and I split a drink ($26.03 with a $2 cash tip because cash is king). (We split a drink because we’re lightweights — we’re not that cheap, I swear. Martials arts and alcohol aren’t the best mix.) I subway home (another $2.90) for a late dinner of leftover salad and reality TV (I love watching real estate shows like Selling Sunset and Selling The City so I can see inside insanely expensive properties). $30.93

11 p.m. — It’s way past my bedtime (I wake up to an alarm every day), so I try go to sleep immediately. 

8 a.m. — My latest and most lovely wakeup time of the week. Coffee, cat, e-mails, dishes. Redeem credit card reward points for $31.07 off my upcoming bill. I arrive for the morning shift at 9:30 a.m.

12:30 p.m. — I leave work and e-bike ($1.78) to another borough for a product sampling booking. Over the course of two hours and many thirsty people, I have to purchase two mixers (two cans of flavored seltzer for $7.95, reimbursed). The barista at the store I am working at makes me a complimentary coffee and I eat a protein bar that I packed. $1.78

3 p.m. — A friend meets me at the store and we walk and talk through the neighborhood. We take the ferry (she already has tickets) for a ride because it’s a crisp, mild afternoon. We are tourists in our own city, pretending we are on a boat tour.

6:30 p.m. — Home for dinner with V. using groceries he bought (salad, chips) and a MAX drama (it’s The Penguin and it’s so dark and disturbing, but also so great). I shower and go to bed by 10:30 p.m.

6:30 a.m. — Alarm, coffee, cat, complete yesterday’s job recap, detailing everything the client might want to know about the event I worked yesterday (product feedback, how any people I sampled, what the store was like, etc), and walk to work. 

9:30 a.m. — I eat overnight oats I’ve been saving in the fridge and catch up on laundry and emails in between classes (I have one freelance job as an email marketer and another in social media, which I can complete on my own time). A friend repays me $19.59 via Venmo, so I put that directly towards a credit card balance.

2:30 p.m. — After closing up, I walk to the yoga studio for a magical class (and to clean lots of sweaty mats). 

4 p.m. —  I walk back to work while eating a protein bar (I purchased them in bulk to avoid running to the bodega, but I don’t always remember — see day one for reference). 

8 p.m. — I close up, walk home, make a salad with V., and continue reading my book (it took a dark twist right away!) until bed while he watches TV. It is a very rare day in New York City to spend zero dollars.

5:30 a.m. — A cold, pitch black winter wakeup. While having coffee with the cat, I check my bank accounts. I received a monthly direct deposit from a staffing agency, so I put through $100, $150, and $140 to different credit card balances. The morning instructor is struggling (I wonder if they went out last night? Plus the kids can be *so loud*) so after I open the gym, I get them a coffee from the bodega. $1.50

11 a.m. — After closing up from the morning shift, I walk to meet a friend to run errands together. We stop by the library, Trader Joe’s (it is so hard to be in the store and not purchase anything), and Target (I purchase toilet paper for work for $9.29 but will be reimbursed). I eat a protein bar I packed and take the subway back ($2.90). I’ve been trying to see friends for workouts, errands, or walks to avoid expensive social gatherings, like dinners, drinks, movie dates, etc. So far this game plan has been successful, even opening up conversations with a few friends about their own money struggles and goals. (I’ve declined many invitations this year — a lot of dinners out, tickets to events, spa days, etc., and I want to make sure I still maintain friendships in whatever way I can.) $2.90

2:30 p.m. — Virtual therapy session, which is covered by insurance, where I mostly discuss my money worries. I started therapy about five years ago, when I switched to an insurance company that covered it, and I’ve found it really helpful. 

4 p.m. — I take a yoga class — which is therapy in its own way — and then walk back to work to open for the evening shift. In between classes, I study product facts for tomorrow’s gig assignment and eat pistachios and yogurt. The evening instructor surprises us with boba teas. It’s a stressful shift due to technical outages, but at least I’m full of sugar!

9 p.m. — We close up together and I walk home. I don’t need dinner (sick from the boba tea, of course), so I shower, read and go to bed.

6:30 a.m. — Coffee. Cat. Walk to work. (You get it.)

11 a.m. — After closing up for the morning shift, I bike to a training session with one of my teammates. Biking in the winter can be tough, but each subway swipe really adds up. After our session, I get ready at the gym for a catering gig (it’s not nearly as nice as the yoga studio’s amenities, but at least I won’t smell during the booking).

3 p.m. — I work for about seven hours, serving high-end spirits and food at a corporate event. We can snack on the client’s leftover cheese and vegetable platters while cleaning up. (No, it doesn’t feel great to be sneaking leftovers in a coat closet at almost 40. But here I am.)

10 p.m. — I take the subway home just past 10 p.m. with some coworkers because I’m too tired to bike. $2.90

6:30 a.m. — Coffee, cat, walk to work. (Any other cat owners notice that their cat only wants to cuddle the moment before you have to leave for work?) Purchase a coffee from the bodega to get the morning instructor back from earlier this week. $2

12 p.m. — After closing up for the morning, I walk to the yoga studio for a class and cleaning shift. I get ready for work at the studio and bike to the catering gig. (I try to walk or bike as much as possible now that I pay per ride. At a former salary job, I had an unlimited metrocard. Didn’t appreciate it until it was gone!)

3 p.m. — Day two of the same catering gig. The rate for this gig is great, but with this agency, I usually wait a month to receive payment. (When living paycheck to paycheck, this is hard.) We are all sick of the catering leftovers, but it’s free food. My feet are screaming after being in heels for so long two days in a row. 

10 p.m. — I take the subway home again to get to bed as quickly as possible. $2.90