Cash Confessional: a week of spending on a 28-year-old bank assistant vice president’s $115,000 salary

Cash Confessional: a week of spending on a 28-year-old bank assistant vice president’s $115,000 salary
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Our Cash Confessional series, in partnership with Bank of America, takes a personal and anonymous look into how people of all ages and incomes spend their money in the span of seven days.

To see the other installments of Cash Confessional, click here. This series is completely volunteer-based; if you’re interested in keeping track of your own spending and having it featured, email Lauren at lauren@charlotteagenda.com or fill out our Survey Monkey.


The basics

Age: 28

Gender: Female

Job: Assistant Vice President

Industry: Banking

Salary: $115,000

What’s the best thing you’ve ever spent money on? 

My dog. Expensive, but so worth it!

What’s the most frivolous thing you’ve ever spent money on? 

No one thing, but I have trouble resisting a good clothing sale.

Would you rather show a friend your savings account or your Google search history? 

Search history.

If I had to show a friend the amount of money currently in my checking account I’d feel:

I don’t keep money in my checking account, but immediately move it to savings, bills, etc. So they’d probably be a little freaked out by my lack of checking account money!

Three financial goals:

  1. Save for a 20 percent down payment on a house in the next 1-2 years.
  2. Pay off my car (low interest rate, so I’m trying to do this without taking away from my usual savings)
  3. Increase general/emergency savings

Roommates: My boyfriend and my dog

Neighborhood: Dilworth

Credit card debt: $0

Student loans: $0

Car payment: $475

Money diary: How I spent my money last week

Monday

We were out of town all weekend, so Monday was extra rough. Woke up, walked the dog, and made a smoothie before heading to the office. I went to the gym at lunch and ate a salad at my desk. I saw a good deal for flights to visit my brother this summer, so went ahead and booked ($554.86, but my boyfriend Venmoed me for half). Headed home and walked the dog again before dinner time. I made crockpot beef barbacoa that we made into burrito bowls.

Tuesday

Had a doctor’s appointment in the morning, so headed over there after walking the dog. I worked from home for a bit afterwards, so I took her for another good walk before heading into work. Ate a late lunch at my desk (leftover burrito bowl) and had an uneventful rest of the day before heading to a Charlotte Yoga class after work (used ClassPass, so this was free). Phone bill autodrafted ($132.09) and I had to get gas on the way home ($39.48). We made homemade pizza for dinner before heading to bed.

Wednesday

I worked from home today, so was able to make a bowl of oatmeal after taking the dog for her morning walk. Made a kale salad for lunch and did more travel research while eating. I ended up booking AirBnBs for our trip to visit my brother ($369.18) and another trip to Atlanta over the summer ($304.83). The first will end up being split with my boyfriend and the second with another couple, so I’ll get some of this money back. Headed to a Flywheel class after work (using ClassPass). Made a chicken stir fry for dinner before heading to bed.

Thursday

Walked the pup and made my usual smoothie before heading to work. Had a fairly busy day, but headed to the gym at lunchtime before eating another kale salad at my desk. Ordered some necessities from Amazon ($28.18) and got my nails done after work ($50). My boyfriend made breakfast for dinner and we watched Netflix before heading to bed.

Friday

Worked from home today due to the CIAA tourney. Made oatmeal and walked the dog before logging on. Finalized the rest of my summer travel plans with a friend and booked flights to South America ($716.58) and a tour while there ($422, but my friend Venmoed me her half). Our wine club shipment went through as well ($335, my boyfriend Venmoed me his half). This is something we’ll be cancelling, but it was the easiest way to get wine home from our South America trip last year. We went to the gym and picked up Yafo for dinner ($33.79).

Saturday

Woke up and went to get coffee with a friend at Not Just Coffee ($5.81) and picked up a prescription for my dog ($40.98, but pet insurance will pay for 80%), before heading to a yoga class (via ClassPass). My boyfriend took the dog for a long walk while I was gone. After he got back, we took the pup out to enjoy the sun. We headed to Sweet Lew’s BBQ for lunch and Catawba for drinks before dropping her off and heading to the Manchester for dinner (he covered the aforementioned expenses). Afterwards, we met up with some friends at Dilworth Tasting Room before heading home (I spent $30 on wine, he covered the rest).

Sunday

Woke up feeling motivated and beat the rush at Trader Joes ($27.60) and Harris Teeter ($93.20) for our weekly groceries. Made some oatmeal when I got home and lounged around before heading to a Flywheel class that afternoon. Stopped by Marshalls ($39.02) and returned some things to Ulta (+$132) before making Indian food for dinner.

Total spent: $3,222.60

What I learned

I spent a lot of money on trips this week, but I will get some back via Venmo, and the South America trip has been on my bucket list for a long time. Also, these will be my only big trips this summer and were expected expenses. My spending besides trip planning was pretty standard for this week (groceries, breweries, and Yafo, with a little Amazon thrown in).


Build your financial know-how with free tools and information to help you make more confident decisions. Visit the Bank of America Better Money Habits site today.

Need 1:1 guidance on getting your finances in order? Schedule an appointment with a Bank of America specialist today or stop in your local financial center.

To see the other installments of Cash Confessional, click here. This series is completely volunteer-based; if you’re interested in keeping track of your own spending and having it featured, email Lauren at lauren@charlotteagenda.com.

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