Cash Confessional: A week of spending in Charlotte on an $82,000 salary

To see the other installments of Cash Confessional, click here. If you’re interested in keeping track of your own spending and having it featured, email Kylie at [email protected].

This week, I spoke with a 31-year-old woman who makes $82,000 a year. Here’s how she spends her money. -Kylie

The basics:

Industry: Construction
Position: Architect
Salary: $82,000
Extra income: My husband’s salary is $54,000, which, combined, puts us at $136,000. I also get a $4,500 annual bonus.
Who do you bank with and why?: SECU because my husband is a government employee and there are better interest rates. It also feels like family.
Savings: $600 per month is the goal. There’s also an automatic draft by the bank for $90 that goes toward holiday savings. They don’t let us touch it until November, which gives us about a $1,000 holiday gift budget.
Age: 31

Monthly expenses:

Mortgage: $982
Housemates: 2. My husband and 4-year old daughter. We also have one on the way.
Neighborhood: Mountain Island Lake
Utilities (Electric, Internet, Water): $239
Home security system: $42.99
Home Insurance: $153.38
Car payment: None
Car insurance: $180
Student loans: $302.75
Credit card payment: $250. I’m aiming to eliminate this by December 2016.
Cell phone: $106
Netflix: $8.99
Satellite TV: $64.25
Lawn care: $50
After school care & Pre-K tuition: $600, but we’re anticipating this to go up to $1,000 per month with the baby coming and the 4-year old going to kindergarten.

Money Diary: How I spent my money last week

Day one: Sunday

7:45 a.m. It’s Sunday which means I always pick my dad (he is confined to his bed and wheelchair) up Bojangles’ for breakfast before I pick up my mom to go to church with me and my daughter. $5.94

8:30 a.m. We arrive at church early on Sundays so that we can partake in Holy Chow (a really awesome hot breakfast served at church which includes eggs, bacon, sausage, grits, biscuit, yogurt, fresh fruit, cereal, coffee, tea, milk and OJ). It’s $2 for my kid and $4 for me. Good deal! $6

11:15 a.m. I give an offering at church for $10.

1:30 p.m. They ran out of donuts at coffee hour after church. Since my daughter had her eyes set on one and I’m pregnant, we head to the local Krispy Kreme for a dozen to split with my parents. We also grabbed some beverages and head to a deli for lunch, which is on my mom. $15.12

Total spent: $37.06

Day two: Monday

10:45 a.m. I fasted for my glucose test this morning at my doctor, so I am definitely craving (and treating myself to) my favorite Panera salad, cookie and tea for an early lunch. I didn’t have a co-pay or have to pay for parking at the doctor… but I do dread that final maternity and delivery bill. $12.51

2 p.m. I head to the dentist in the afternoon – no co-pay again. I head home to work for the rest of the day. $0

5 p.m.  My husband sends me a text saying he’s headed to the grocery store and has dinner covered and that I get to relax. A lot of auto-drafts have happened today: security system ($42.99), Netflix ($8.99) and the mortgage payment ($982). I also paid my daughter’s after-school childcare provider today ($50).

Total spent: $1,096.49

Day three: Tuesday

8 a.m. I am doing a parent observation in my daughters classroom this morning but I have some time between drop-off and the appointment, so I head to Chick-Fil-A for breakfast. $5.90

8:15 a.m. Realize I am low on gas, I still have time before the appointment and its around the corner from the school. $18.83

11:30 a.m. Office lunch-n-learn. Free lunch! 🙂

5:30 p.m. Stop by HT on the way home from work for some necessities: ice cream (because what pregnant woman doesn’t want it? It’s a 2-for-1 deal.), sack of potatoes and strawberries (its breakfast-for-dinner night), laundry detergent, dish detergent, cherries, plants and cards for each of my daughter’s teachers (teacher appreciation week) and cleaning wipes. $74.51

Total spent: $99.24

Day four: Wednesday

7 a.m. Breakfast at home, but stop and grab a coffee on the way to work. $5.90

11:30 a.m. Team meeting at work all morning. We bond over an office-provided lunch.

1:30 p.m. Pay my daughter’s Pre-K tuition today. One more payment left – I can’t wait! $300

5:30 p.m. Head to the chiropractor…this baby bump is doing a number on my spine! $39

Total spent: $344.90

Day five: Thursday

10 a.m. Woo-hoo! On vacation today and tomorrow for a nice long weekend at the beach! Breakfast at home then grab some beverages and snacks for the road. $8.98

2 p.m. Arrived, and we are hungry for lunch. We stop at our favorite little Greek deli for some amazing sandwiches before heading out to play in the sand (it’s a little chilly). $12.11

7 p.m. Parents arrive at the beach and come bearing supper.

Total spent: $21.09

Day six: Friday

9 a.m. My sister runs out to grab bagels for the family for breakfast. She informs us it’s a little cool, so we all head to the island stores and grab long sleeve shirts and sweaters (we didn’t pack any and we are desperate to spend some time in front of the waves). A T-shirt and long sleeve shirt for me, a long sleeve shirt for my daughter and I grab a zip up hoodie for my mom for mothers day. $96.10

1 p.m. After enduring enough cold breezes on the sand, we head for lunch at another favorite spot, one beach down. $17.19

6 p.m. After some much needed naps, myself, my daughter, and my sister head to dinner. My daughter ate at the house a bit before we left so my sister and I split the bill down the middle. $29.27

8 p.m. On the way home from dinner we stop by Walgreens and hunt down the best Mother’s Day cards and some goodies, including some toothbrushes that forgot to make their way into our suitcases.  I think we have spent enough for one day! $20.23

Total spent: $162.79

Day seven: Saturday

8 a.m. We cook breakfast at the house. Groceries were provided by my parents.

10 a.m. It is no longer cold, the high today should be 85! We spend all day on the beach. I am now a lobster and my daughter has a beautiful tan. I am so jealous. We pack some drinks and snacks to eat on the beach.

3 p.m. Late lunch back at the house. We lounge around until the Kentucky Derby. So excited Nyquist won, but did you check out Exaggerated?

8 p.m. We eat some awesome salads for supper and lounge around trying not to move for fear of feeling our excruciating sunburns. We leave tomorrow to head home and don’t have to pay for where we are staying, because it is my mom’s beach condo. It has made for some fabulous affordable vacations over the years. What is also awesome is that I didn’t spend any money today!

Total spent: $0

Total spent: $1,761.57
Breakdown:
Food and drink – $118.92
Transportation – $18.83
Clothing – $96.10
Education – $350
Health – $39
Bills – $1,033.98
Miscellaneous – $104.74

What I learned: I have been keeping track of our bills and major expenses pretty thoroughly for the past two years. What I want to get a better handle on is how much we spend in the “disposable” category and how I can convert more of that into savings. It is a large percentage of our monthly income, and I feel like we waste most of it. Participating in this series helped me realize how I contribute to that category. What I learned is that we spend a lot of money on food, gas, and just “stuff!” New goal: declutter my life through expenses and material possessions! I did this with a couple of days being on vacation, so I will probably do it again while I stay in town to see my “reality” at home. This one probably turned out slightly skewed.

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