Welcome to
Money Diaries
Where we address the persistent taboo surrounding money. We’re inviting actual individuals to share how they allocate their earned income over a week—and we’re recording each individual dollar spent.
Today: A seasoned paralegal with a household income of $294,750 opts to spend part of her earnings this week on attending an end-of-season hockey banquet.
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Occupation:
In-house senior paralegal
Industry:
Litigation
Age:
51
Location:
Denver
Salary:
I; $129,225 (starting amount) + ($28,525 as an additional bonus); my partner earns approximately $137,000 on average.
Household Income/Financial Setup:
$294,750. My partner, L., works as a therapist and additionally earns monthly royalty payments from oil and gas investments, which means their income isn’t consistent every month. Every month, both of us contribute $3,000 to a shared account specifically designated for covering our household costs such as the mortgage, grocery shopping, streaming services, utility bills, waste management fees, and internet service. There’s also a jointly held credit card used whenever we incur collective expenditures together, like dining at restaurants. This past week, I didn’t monitor what L. spent unless those transactions involved shared expenses.
Assets:
Combined savings account: $11,000; personal savings/checking account of mine: $8,000; L.’s savings account: $28,000; my 401(k) plan: $690,000; L.’s 401(k) plan: $2.3 million; my high-yield savings account (HYSA): $94,000 (elevated due to an upcoming expense for prep school tuition where we aim to secure a 5% discount for our son’s schooling next academic year); retirement fund from prior employment: $46,000; my Roth Individual Retirement Account (IRA): $3,000; educational savings account for my child (529 Plan): $70,000. The property valuation stands at $830,000. Additionally, L. holds ownership over approximately 350 acres in Texas which has appreciated significantly and currently ranges between $2-3 million in market value. My vehicle asset amounts to $34,000 whereas L.’s car is valued around $72,000.
Debt:
Mortgage: $410,000; L.’s auto loan amounts to $18,000.
Paycheck Amount (biweekly):
I receive $3,075 monthly, with an annual bonus that typically ranges between 20-25%, averaging about $28,000 per year. As for L.’s salary information, I am not aware of the specifics.
Pronouns:
She/her
Monthly Expenses
Housing Costs:
Our monthly mortgage cost is $2,710 for a three-bedroom, three-bathroom home bought in 2020, but we add an additional $700 to our payments every month.
HOA:
$295 (L. covers this amount since I handle the family insurance, which also encompasses pool usage, lake access within our community, along with lawn care and snow removal services).
Loan Payments:
$0. My car has been fully paid for and I don’t carry any student debt. I’m unsure about how much L. owes on their car loan.
Utilities:
$100 to $200 (it varies based on the time of year).
Water:
$25 (average).
Trash:
$15
Family Medical Coverage (Medical Care, Eye Care, Dental Services):
A deduction of $109 from every paycheck.
401(k) Contributions:
$1492 (which represents 15% of my earnings along with an additional 6% from my employer).
Car Insurance:
The cost was $517 for six months for both K. and me (I’m unsure why I received such a good rate, but since I don’t drive often and get billed by the mile, plus K. has only recently begun driving—I plan to remove him from my policy once he attends boarding school). In comparison, L. pays $183 each month.
Netflix:
$32 (we split with my mom).
Hulu:
$89
Phone:
$25 for my child. My employer covers mine, and L. contributes $108 monthly.
Internet:
$79
Cleaning Fee:
$130 (L. and I alternate covering this cost monthly).
Athletic Greens:
$170
Yearly Expenses
Sewer/Sanitation Bills:
$650
Chase Card:
$65
Travel Hockey:
$18,000 (a sum I cover, though it may differ for others) goes toward K.’s high-level travel hockey participation. It’s pricey, yet necessary as it funds an eight-month season along with ten away games out of state.
Were you expected to pursue higher education? Did you engage in any type of higher education? If so, how did you finance it?
Certainly, attending college and graduate school was anticipated for me, just as it had been for my brothers and sisters. I completed my undergraduate studies at a liberal arts institution through a combination of athletic scholarships and Pell Grants, with additional support from student loans that I managed to repay over time. Following this, I pursued training at a paralegal program, found employment as a paralegal, and concurrently started my graduate work. Throughout my master’s degree, I supported myself financially by continuing to work as a paralegal.
As a child, what types of discussions took place regarding money? Were your parents or guardians informative about financial matters?
My parents often emphasized the importance of diligence and thrift. They both emerged from humble beginnings and put in tremendous effort to achieve success. By the time I was around eight or nine, I owned a checking account and would visit the bank to balance my checkbook. We learned never to rely on credit cards unless we could cover our expenses right away with savings. Additionally, we were advised to initiate a 401(k) plan promptly upon securing gainful employment so as to benefit from compounded interest.
What was the first position you held, and what motivated you to take it?
I started working at age ten, pedaling around town in the afternoons to deliver the local newspaper. Each month, I collected payment from various households for their subscriptions. When I turned fourteen, during summertime, besides continuing with lawn mowing jobs and babysitting gigs within the community, I additionally took up employment at a nearby golf course as another way to earn some cash.
Were you concerned about finances during your childhood?
I didn’t have financial concerns during my childhood until my parents got divorced when I was in fourth grade. Afterward, I recall my mother mentioning that we couldn’t afford some luxuries anymore. However, since our family status was clearly upper-middle-class, I never truly stressed over finances as a child.
Are you concerned about finances at present?
I am concerned about accumulating sufficient funds for retirement and ensuring my son has financial support through school and college. Although both my partner and I earn good salaries, we aim to stop working entirely or partially within the next five to six years. My son’s expenses at his hockey/ prep school during his final two years of high school will still be considerable even with the significant scholarship he received recently. We aspire to relocate abroad upon retiring and engage in extensive traveling to stretch our savings further. While L. possesses substantial wealth, I’ve made diligent efforts to save more than ever before, aiming to achieve early retirement within half a decade.
What was the age at which you started being financially independent, and do you have a financial cushion set up?
At 23 years old, I took charge of my finances upon purchasing my initial home for $97,000 (a process assisted by my mother). She provided me with a gift of $20,000 toward the down payment; however, after that moment, all financial responsibilities were mine alone. The foundation of my fiscal security consists of an emergency fund as well as support from my partner, L.
Have you ever obtained passive or inherited income? If so, could you provide an explanation?
Certainly, as was stated before, my mother gave each of us kids $20,000 back in 1996; however, this sum needed to be invested in property. Following the passing of my parents, I anticipate receiving an inheritance, though the exact amount remains uncertain.
Day One: Sunday
8:30 a.m. — Enjoying a leisurely morning by sleeping in and savoring coffee gradually. About a year back, we invested in a Jura coffee machine which might just be our finest buy yet. Prior to acquiring this appliance, we frequently purchased coffee out, but nowadays, we seldom leave home for it. It being Sunday today means we have an entire relaxed day ahead to wrap things up and enjoy some fun before diving into the workweek come Monday. For breakfast, I prepare meals for both my partner, L., and child, K. Our meal consists of eggs, avocados, and hash browns sourced from Trader Joe’s. Post-breakfast, I go through my emails only to find that I am required to assist with organizing the end-of-season presents for my kid’s ongoing hockey campaign.
$80
11:15 a.m. — The weather is so pleasant; we attach three bicycles onto L.’s bike rack and make our way towards the riverside trail. Just two days prior, we received quite a bit of snowfall which led to my son having a snow day off from school. However, now the sun is shining brightly, everything has started thawing out, and we’re eager to venture outdoors for a cycling session. As it turns out, many residents of Denver shared this desire because the pathway was fairly bustling with people.
1:20 p.m. — After traveling nearly eight miles along the trail, we find ourselves drenched in mud and splashed with water due to the melting snow. Once back at the cars, we pack up our bicycles and make plans to visit our go-to small dive spot for some burritos. Returning home, we discover that despite their enormous size, these burritos are incredibly delicious, though we’re only able to finish roughly half of ours each.
$37.07
3:45 PM — The remainder of the day was occupied with walking Frank W., cleaning the linens and towels, showering to remove the dirt, and watching
Love Is Blind
In season 8 (David treats Lauren poorly. She deserves much better than him. Flee, darling, flee).
6:15 PM — L. heads to Whole Foods for dinner items. She picks up chicken, rice, asparagus, and milk. Following their meal, L. and I watch one episode of
Chasing Darkness with Kelly Siegler
Why don’t these men simply get divorced rather than resorting to murder? What goes through people’s minds?
$23.18
9 p.m. — Following a crime drama, we should relax with some mindless entertainment and tune into an episode of
The Kardashians
Lamar returns to visit Khloe bearing flowers, champagne, and a cake adorned with the date of their upcoming nuptials. This isn’t odd in the least bit. He appears quite nervous; he may be drenched in sweat. Despite this being possibly one of the most cringe-worthy and uncomfortable television scenes I’ve encountered recently, I find myself enjoying every moment of it.
Daily Total: $140.25
Day Two: Monday
6:15 a.m. — Before anyone else stirs, I rise early to brew myself some coffee. Afterward, I return to bed with my cup of joe and take stock of my finances via the banking app, skim through new messages, and review today’s schedule from my work calendar. Feeling fresh after a quick shower and getting dressed—today includes an appearance-sensitive video call—I head out toward our vehicle where K., now fully prepared for school, joins me shortly. As he enters his junior year soon enough and acquires his driver’s permit within mere weeks, we cherish these final moments as I chauffeur him around town; indeed, driving provides us quality time together during which engaging discussions often ensue, making such routine drives truly precious. On returning homeward bound, necessity compels me to refuel at a nearby station, ensuring sufficient fuel supply until next week rolls around again.
$44.82
8:15 a.m. — I arrive at home. After quickly grabbing something to eat, I mix up my Athletic Greens smoothie and start getting prepared for my early-morning meeting. Today, we’re scheduled to speak with our legal advisors based in Singapore about an issue happening in Indonesia. The conversation proceeds smoothly, so we decide to hire their firm as our representation. Following this discussion, I keep working and gearing up for yet another meeting later today concerning a separate case. Tomorrow, we’ve got a court appearance set at the district level, which means I must go over certain paperwork ahead of an important conference call this afternoon. To wrap things up, I pause briefly from my tasks to visit the site where I can settle my monthly highway toll expenses; these fees stem from all the driving between here and the airport last month due to my son’s elite traveling ice-hockey squad excursions.
$47.15
12:05 PM — I pause work for lunch, toss a load of laundry into the machine, and prepare myself a turkey sandwich topped with olive tapenade. L introduced me to this recently, and it’s quite delicious. Afterward, L returns home from the gym and joins me for lunch. Following our meal, we go out for a stroll around the neighborhood with our dog, then transfer the clothes to the dryer. Stepping away from my desk during the midday break to breathe some fresh air helps segment my day more effectively. W generally insists on taking a short walk each time because otherwise, she’d be napping most of the day—upwards of 20 hours. The temperature is at 64 degrees Fahrenheit, making it yet another gorgeous afternoon here in Denver. Just three days prior, we were buried under 13 inches of snow, but now I’m comfortably wearing shorts again. That’s what makes living in Denver such a delight!
1:45 p.m. — The remainder of my day involves attending various meetings and getting work done. One such meeting spans 90 minutes; we use it to prepare a witness for an upcoming hearing scheduled for tomorrow, as well as to go over our strategy and key points with respect to presenting them before the judge. In my role as a paralegal, maintaining organization and managing all relevant case files fall under my responsibilities. Following this session, I must forward necessary documentation to external legal advisors who’ll be involved in tomorrow’s proceedings. Meanwhile, L. collects K. from school and brings him to receive extra help with mathematics since he has a significant exam coming up soon. To ensure readiness, K. plans to meet with his tutor two more times prior to taking the test.
$75
4:10 PM — L. and K. are at home. L. and I go out again with W., enjoying the remaining daylight together. Meanwhile, K. focuses on their assignments, and I finish my work with some additional emails. Later, L. heads to Whole Foods for pizza ingredients like dough, sauce, cheese, sausage, mushrooms, along with a pre-packed salad.
$17.64
6:25 PM — L. prepares pizza on the barbecue, and it turns out excellent. She lets it rest before stretching the dough, placing it onto the preheated grill, flipping it over, and assembling it with olive oil, herbs, sauce, cheese, sausage, and mushrooms. Following dinner, I handle cleaning the kitchen, while K. takes care of disposing of the garbage and recyclables at the street for pickup tomorrow.
8:30 PM — We continue with another episode of
Prosecuting Evil
And another man chose to kill his spouse rather than file for divorce. We enjoy watching “Ryu Camp” on YouTube; it’s essentially about a guy camping with his adorable dog, preparing meals, and then packing everything up to head back home. This serves as a pleasant way to relax before going to sleep. Typically, we turn off the lights around 10 p.m.
Daily Total: $184.61
Day Three: Tuesday
6:45 a.m. — I rise early and pour myself some coffee, making sure not to disturb L. or the dog. L. uses a heated blanket, which the dog also snuggles into each night beside them. This arrangement allows me to sleep peacefully without being squished under their combined weight of about 20 pounds. By then, K. is awake, so I prepare his usual breakfast— four scrambled eggs wrapped in a tortilla along with shredded cheese and a protein shake—and take him to school afterward. Once home around 8:15 a.m., I dive right into work.
8:45 a.m. — For breakfast, I enjoy a toasted waffle topped with peanut butter and gulp down some Athletic Greens. To make it more palatable, I mix in iced tea since it feels less like swallowing something bitter this way. Afterward, I step away from work to take our dog out for a stroll around the neighborhood with L.; despite the warmth, it’s quite blustery outside. Recently, we’ve received several fresh legal challenges, prompting me to revise documents accordingly, inform those involved, and schedule deadlines for these cases. In law, litigation seems constant; perhaps that ensures steady employment.
11:45 a.m. — L. departs for the gym following her conference call with her client and plans to pick up K. from school in the afternoon, taking him to his tutoring session once more. During this time, I focus on working on my Money Diary project and pause around midday to have lunch, during which I prepare another turkey and cheese sandwich accompanied by vegetable chips. Afterward, I unload the dishwasher, chat with my sister, and quickly freshen up before attending an afternoon meeting.
$75
2:45 PM — For the remainder of the day, my schedule includes work along with an end-of-day discussion about establishing a database to monitor case details alongside a colleague based in Canada. During our conversation, she inquires about when I plan to relocate to Canada due to the current U.S. political situation. In jest, I respond by telling her to begin searching for homes for me.
6:30 PM — Tonight marks the conclusion of K.’s seasonal hockey celebration where numerous accolades will be presented. The players receive complimentary entry, whereas guests must purchase tickets for $30 apiece. While saying farewell to the season brings mixed emotions, eight grueling months have passed, leaving us eager for some respite from chilly arenas. After exchanging goodbyes with teammates and families, we return home and prepare for sleep by 10 PM.
$60
Daily Total: $135
Day Four: Wednesday
7:15 a.m. — Since K. starts later on Wednesdays, I have some extra time to catch more sleep. After waking up, I enjoy my coffee before jumping into the shower. Today, K. decides to mix things up by preparing eight servings of oatmeal for breakfast; teenagers sure do consume large quantities of food, often repeating their favorite meals frequently. Once he’s set with his meal, I drive him to school and return home to kick off my day’s work.
9:20 a.m. — After arriving home, I prepare my green waffles with peanut butter. Payday has come around again; today, my direct deposit amounts to $3,696. This sum is larger than usual as it includes some wellness reimbursement funds from my employer. Given that the month’s end is approaching, I transfer some cash into our shared bank account, knowing that the mortgage and utility payments will be coming up shortly. Additionally, I notice an incoming payment of $138.76 from selling my David Gray concert tickets. Last week, L. wasn’t feeling well, so we missed out on attending the show—a real disappointment considering how much I enjoy his music.
1:10 p.m. — L. took W. hiking in Golden and desires Firehouse subs for lunch. I placed the order, which she’ll collect on her way back home. We’re splitting a large turkey sandwich along with some chips.
$16.63
3:40 PM — This afternoon has been chaotic. We received an email at work instructing us to erase and reset our devices, then reinstall everything with updated profiles for new corporate applications. The installation process was plagued with problems, ultimately consuming more than two hours of my time. However, the support technician from IT was incredibly helpful and managed to guide me through the ordeal successfully. After resolving the issues and restarting my device, I noticed that all my apps were gone and my texts had reverted to those from 2022. Sigh. Wine sounds like just what I need right now.
6:15 PM — L. prepares dinner in an attempt to lift my spirits and proposes that we watch
1000-lb Sisters
— A little bit of campy television always improves my mood.
Daily Total: $16.63
Day Five: Thursday
5:40 a.m. — It’s Groundhog Day. I didn’t rest properly last night. W. kept moving around beside me throughout the evening. Around 6:15 a.m., I finally rise, pour myself some coffee, prepare a breakfast burrito for K., deliver it at the school, then return home. Today is when our cleaning lady visits, so this is the time I settle the bill with her. I issue a check for $130; although she typically asks for only $100 due to her exceptional work, we always include an extra gratuity. Usually, she stops by once every month.
8:15 a.m. — After dropping my kid at school, I head home quickly for a brief shower before the cleaning lady arrives; I want to ensure she has free rein without me underfoot today. An email reminds me about paying the internet bill, which I promptly handle. Soon after, another message lands in my inbox—a coach based in Boston extends K. an invitation to join their team starting next year, complete with a substantial scholarship. The news brings immense relief since this was our top pick among boarding schools focused on ice hockey! Over the coming two years, he’ll attend preparatory school in Massachusetts where he’ll also wrap up his secondary education. His aim is to pursue collegiate-level ice hockey and joining prep school should enhance his visibility both for junior leagues and eventually colleges. While thrilled for him, parting ways feels bittersweet.
12:15 PM — I have to head over to my office to collect a settlement check and send it via overnight mail to our local legal representative. It’s crucial that the dismissal papers get submitted to the court by Monday, so we must ensure the check arrives beforehand. A significant case was recently resolved through mediation. Today, I plan to spend much of my time working from the office. On my way in, I’ll pick something up for lunch to eat at my desk.
$12.67
At 3 p.m., I depart from work and swing by for a swift car wash to clean off the grime accumulated during last week’s snowstorm. Afterward, I pick up K. from school and share news of an acceptance letter from his top-choice institution. This revelation leaves him both astonished and elated. It seems like this could be really happening—he’ll be moving cross-country come autumn to chase after his aspirations. Despite wanting to wait until March 10th to find out more from other prep schools he applied to before settling on his ultimate choice, he can’t help but sport a wide grin throughout our conversation.
$12
5:45 PM — We set out to celebrate K.’s acceptance letter from the preparatory school. K., as expected, chooses their favorite steakhouse where they indulge in ribs and mashed potatoes. L. opts for a filet mignon, while I select salmon, both dishes being delicious. By the time we return home, everyone feels quite full yet contented. To digest our hearty dinner, we stroll around the neighborhood together with our French bulldog tagging along. Before turning in at approximately 10:30 PM, we unwind by streaming several programs centered on tow-truck operators in Las Vegas, which prove highly engaging.
$88.34
Daily Total: $113.01
Day Six: Friday
6:40 a.m. — Start the day with morning routines and head back home for a brief call with my supervisor. Today’s my performance evaluation, so we discuss expectations ahead of time. The firm has undergone significant restructuring during the last fifteen months, resulting in numerous senior roles getting axed. My boss seems dissatisfied with how things stand currently and mentions that should she decide to resign, she’ll inform me first. While I appreciate her honesty, staying doesn’t seem like an option since I enjoy a generous paycheck along with the flexibility to telecommute anytime.
I’m also quite content with continuing this remote setup even post-pandemic; returning to physical offices feels unnecessary now. Additionally, considering K.’s probable relocation to New England next year, both L. and I plan to visit frequently enough to catch his games when he plays ice hockey—another perk of our current arrangement allowing us maximum mobility.
At 3 p.m., I undergo my performance evaluation with my supervisor, which concludes positively. While the specifics regarding my raise and bonus will be disclosed next week, reading through the formal assessment was encouraging. After wrapping up at work, I finish off the day by meeting two old buddies for an evening drink session where we enjoy some appetizers and spend several hours reminiscing and chatting. Our friendship dates back to our primary school days, so conversation always flows effortlessly between us. Upon returning home, I exchange stories with K. and L. about how their respective days went.
$45.76
7:15 p.m. — L. and I ultimately ended up watching
The Devil Within the Clan: The Downfall of Ruby Franke
On Hulu, it’s terrible. Part of me hopes we hadn’t watched it because I wasn’t fully aware of the entire storyline. It has been challenging for me to get proper sleep, tossing and turning through much of the night. I simply cannot comprehend how individuals could hurt kids, and regardless of whether Kevin was aware or oblivious, he certainly didn’t fulfill his role as a parent adequately.
Daily Total: $45.76
Day Seven: Saturday
8:45 a.m. — Oh, it’sSaturday! It feels great to snooze longer and rise gradually today. Enjoying coffeeinbedwhile chattingwithLandKaboutourplansforthe dayoverabreakfastofeggs,toast,andhashbrowns. Withnohockeygamesortournamentsscheduled,wecanhavesomeleisuretime.Wewashafewloadslothesandothertakeiteasyuntiltheweathergetsabitwarmer.
At around 11:15 a.m., K. grabs his electric skateboard and heads downhill toward the local basketball courts where he plans to join some friends. Meanwhile, L. and I start loading our bicycles into the vehicle before setting off towards Waterton Canyon. After finding a suitable parking area, we cycle up to the nearby dam and return (covering approximately 12.5 miles within roughly one hour and twenty minutes). The ascent consists mostly of steep inclines; however, descending comes much easier at high speeds. Once finished with our bike ride, we pack everything away in the car again, then decide to grab lunch from Jersey Mike’s. Calling K., we inquire whether he would like us to bring him along a sandwich, which turns out positive. Consequently, both L. and I share a Turkey sub whereas K. opts for Roast Beef instead—alongside bags of chips for everyone. Jersey Mike’s never disappoints as always!
$31.40
3:15 PM — I collect the mail and notice that we have an annual storm/sewer utility bill due. L. and I. receive our REI member rewards for this year, prompting us to visit the store hoping to find items needed for our upcoming trip to Ireland; however, we end up leaving without purchasing anything. After K. finishes school in May, all 14 members of my family will embark on a 10-day journey through the Ring of Kerry in Ireland. Although I’ve visited Ireland previously, I’m looking forward to sharing some highlights with L. and K.
At 4:30 PM — We depart from REI and make our way to Target (despite the fact that we probably shouldn’t support them as they’ve discontinued their Diversity, Equity, and Inclusion initiative), where we plan to grab some weekly necessities like food and household supplies. Our shopping list includes oats, cereals, bananas, blueberries, milk, creamer, eggs, Jimmy Dean breakfast sandwiches, waffles, butter, two frozen pizzas, ground beef, hamburger buns, lettuce, cheese, tortillas, yogurt, granola bars, toilet paper, paper towels, Ziploc bags, and disinfectant wipes along with several additional items.
After returning home, we unpack everything. L. prepares grilled burgers accompanied by tater tots, and later, we spend the evening engaged in multiple rounds of Rummikub.
$208.12
Daily Total: $239.52
The Breakdown
Conclusion
“I would say this is a pretty typical week for our spending. Our biggest weekly expense is probably food, with a 16-year-old boy. It is good to see all my accounts and spending laid out to get a snapshot of where I am and where I need to be to potentially retire in five or six years. I would say that, ever since COVID-19, we have turned more into homebodies and don’t go out as much. Our entertainment is watching K. play hockey and we try to bike and paddleboard in our neighborhood a lot, so our activity spending isn’t too high. We also try to take one big trip a year and save up for that so it is paid off before we even step foot on the airplane. My goal is to save for prep school hockey for two years and for retirement in five or six years and I feel as though I am on track.”
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