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Welcome to Money Diaries, where we're tackling what might be the last taboo facing modern working women: money. We're asking millennials how they spend their hard-earned money during a seven-day period — and we're tracking every last dollar.
This week, we’re looking at the way interns are spending across the country. Internships can be a key way of getting experience, entering fields, and making connections, but not everyone has the ability — in terms of timing or finances — to make it happen. For those who do, managing an internship during the traditional work and school year, or working full-or-part-time over the summer can provide an exciting (or nerve-wracking!) preview of life after college.
Today: a think-tank fellow who makes $15/hour and spends some of it on Trader Joe's Green Tea.
Occupation: Communications Intern & Junior Fellow
Industry: Nonprofit Think Tank
Age: 22
Location: Washington, D.C.
Salary: $15/hour for three months. (Around $6,000 for the summer.)
Paycheck (2x/month): $1,000
Industry: Nonprofit Think Tank
Age: 22
Location: Washington, D.C.
Salary: $15/hour for three months. (Around $6,000 for the summer.)
Paycheck (2x/month): $1,000
Monthly Expenses
Housing: $599.75 in an apartment with three other girls. I share my room but we have two bathrooms, a large living space, and a decent kitchen.
Loan Payments: $0. I am still in college and am waiting to pay this off until I have a steady income after I graduate in 2018.
Housing: $599.75 in an apartment with three other girls. I share my room but we have two bathrooms, a large living space, and a decent kitchen.
Loan Payments: $0. I am still in college and am waiting to pay this off until I have a steady income after I graduate in 2018.
All Other Monthly Expenses:
Rent In Portland: I go to college in Portland, and my parents pay this ($340) while I'm gone because balancing rent for two places would be difficult. (This rent is low is because I live in a house with seven of my best girlfriends.)
D.C. Utilities & Wi-Fi & Portland Wi-Fi: $70
Dental & Healthcare: $0. I am still on my parents' plan.
Cell Phone: $0. I am still on my parents' plan.
Savings: $10 deposited into my Roth IRA account. I'll bump this up after I graduate and have a steady income.
Extra Apple Storage: $0.99
Spotify: $5.49 with the student discount.
Gym: $0. My D.C. apartment, and school in Portland, have free gyms.
Rent In Portland: I go to college in Portland, and my parents pay this ($340) while I'm gone because balancing rent for two places would be difficult. (This rent is low is because I live in a house with seven of my best girlfriends.)
D.C. Utilities & Wi-Fi & Portland Wi-Fi: $70
Dental & Healthcare: $0. I am still on my parents' plan.
Cell Phone: $0. I am still on my parents' plan.
Savings: $10 deposited into my Roth IRA account. I'll bump this up after I graduate and have a steady income.
Extra Apple Storage: $0.99
Spotify: $5.49 with the student discount.
Gym: $0. My D.C. apartment, and school in Portland, have free gyms.
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