We’ve recently had a lot of conversations on the Instagram revolving around finances. And it got a lot of followers wondering. How is everyone making it work? Can people afford rent? Are people getting help? Are people saving? Is everyone else making bank? Is everyone else struggling?
So we’re starting a new series: Kicking It, where we break down how young, Jewish professionals earn, spend, save and give.
I’m breaking it down by community, because I think people make a lot of assumptions about different communities and what it takes to live in those areas, and I think it might be interesting to see how things are actually playing out.
The link to the form of questions is here: https://forms.gle/L7BZBYQa5HHRidzA7. If you are a young, Jewish Professional in your 20’s/30’s, feel free to fill it out. As we collect more data, I will continue to share it. You can also check the form to see all the questions that were asked.
Please note that not everyone filled out the forms completely. Some people might not have known all the information or they might not have felt comfortable sharing all of the data. If a question is omitted from a person’s submission, it is because they left it blank.
Person #1
Age: 27
Gender: Female
Occupation: Student/ Hospital Admin
Yearly Salary (includes bonus): $19,000 (estimate-part time)
Married: No
Kids: No
Living Situation: Lives with Roommates
EXPENSES:
Total Apartment Rent (per month): $5,640
Individual’s rent portion (per month): $1,335
Savings (per month): Was $100 when working full time
Medical/ Dental/ Vision (per month): Medicaid!
Internet/ Cable (per month): $15
Charity (per month): $20
Electric/ Gas/ Utilities (per month): $25
Groceries (per month): $200
Metro Card/ Car/ Transportation (per month): $121.50
Gym Membership (per month): $35
Dates (per month): $20
Seamless/ Eating out (per month): $100
Anything you want to add about your budget/ monthly spending?: I have an itemized budget that I update each month. I am living off savings now since I’m in school.
Person #2
Age: 22
Gender: Female
Occupation: Operations Manager at a Nonprofit
Yearly Salary (includes bonus): $45,000
Do you have another form of income in addition to your day job (i.e. additional job, help from family members etc)? If so, how much money do you make/ get from that?: Only help I get is that my parents pay for my phone bill
Married: No
Kids: No
Living Situation: Lives with Roommates
EXPENSES:
Total Apartment Rent (per month): $4,000
Individual’s rent portion (per month): $1,200
Savings (per month): $300
401(k) Contribution (per month): Haven’t set it up yet – just started working last month
Phone Bill (per month): $0
Medical/ Dental/ Vision (per month): $50
Internet/ Cable (per month): $10
Charity (per month): $10
Electric/ Gas/ Utilities (per month): $15
Groceries (per month): $200
Metro Card/ Car/ Transportation (per month): $127
Gym Membership (per month): $0
List subscription services and prices (per month): $0
Dates (per month): $200
Seamless/ Eating out (per month): $200
Anything you want to add about your budget/ monthly spending?: I am also paying $400/month toward my college loans
Person #3
Age: 26
Gender: Female
Occupation: Social Worker
Yearly Salary (includes bonus): $59,000
Married: No
Kids: No
Living Situation: Lives with Roommates
EXPENSES:
Total Apartment Rent (per month): $4,570
Individual’s rent portion (per month): $1,400
401(k) Contribution (per month): 10% of my salary
Medical/ Dental/ Vision (per month): $0 – union health benefits FTW!
Internet/ Cable (per month): $90
Electric/ Gas/ Utilities (per month): Depends on the month! Summer more than winter
Groceries (per month): $300
Metro Card/ Car/ Transportation (per month): $122
List subscription services and prices (per month): $40
Seamless/ Eating out (per month): $150
Person #4
Age: 27
Gender: Female
Occupation: Partner Manager at tech company
Yearly Salary (includes bonus): $75,000-$100,000
Married: No
Kids: No
Living Situation: Lives with Roommate
EXPENSES:
Total Apartment Rent (per month): $3,250
Individual’s rent portion (per month): $1,600
Savings (per month): ~$500
401(k) Contribution (per month): 6%
Medical/ Dental/ Vision (per month): $0-covered completely by my company
Internet/ Cable (per month): $70
Charity (per month): Do this on an annual basis around $1,500. Definitely want to increase this YOY
Electric/ Gas/ Utilities (per month): $55 average-some months higher and lower
Groceries (per month): $220
Metro Card/ Car/ Transportation (per month): $150
Gym Membership (per month): $65
Subscription Services (per month): Amazon $100/year, AMC $20, ClassPass $47
Dates (per month): $20
Seamless/ Eating out (per month): $150
Miscellaneous Expenses (per month): Shopping: $250
Anything you want to add about your budget/ monthly spending?: Budget fluctuates based on travel schedule as well as season. Spend more money in the summer because it’s easier to go out
Person #5
Age: 25
Gender: Male
Occupation: Consultant
Yearly Salary (includes bonus): $80,000-$100,000
Do you have another form of income in addition to your day job (i.e. additional job, help from family members etc)? If so, how much money do you make/ get from that?: Not that aren’t invested money
Married: No
Kids: No
Living Situation: Lives with Roommates
EXPENSES:
Total Apartment Rent (per month): $4,500
Individual’s rent portion (per month): $1,500
Savings (per month): $1,500
401(k) Contribution (per month): None available yet
Phone Bill (per month): $0
Medical/ Dental/ Vision (per month): $50
Internet/ Cable (per month): $15
Charity (per month): $75+
Electric/ Gas/ Utilities (per month): Summer:$50, Winter: $20
Groceries (per month): $100 (parents drop off sometimes b/c it’s cheaper in the suburbs)
Metro Card/ Car/ Transportation (per month): $127
List subscription services and prices (per month): Spotify family (covered by family) other account shares not paid by me
Dates (per month): average $40-$75
Seamless/ Eating out (per month): <$50/ week
Anything you want to add about your budget/ monthly spending?: Clothes- ~$150/month activities (movies,going away weekends, etc) ~$100/month but ranges; spending on others’ wedding $75 avg (includes transit and gift) close friends $250+ easily
Person #6
Age: 25
Gender: Female
Occupation: Law Student
Yearly Salary (includes bonus): $40,000 for my Summer Job
Married: Yes
Kids: No
Living Situation: Lives with husband
Partner’s Occupation: Business Development
Partner’s Yearly Salary (includes bonus): $50,000
How do you and your partner split your rent/ bills?: We treat both our money as the same
Do you have another form of income in addition to your day job (i.e. additional job, help from family members etc)? If so, how much money do you make/ get from that?: My husband does a lot of side hustles but nothing consistent
Combined Yearly Salary: $90,000+
EXPENSES:
Total Apartment Rent (per month): $2,000
Savings (per month): Most months nothing
Internet/ Cable (per month): $80
Groceries (per month): $400
Person #7
Age: 28
Gender: Female
Occupation: Associate at Private Wealth Management Firm, Going to Law School
Yearly Salary (includes bonus): $103,000
Married: No
Kids: No
Living Situation: Lives with Roommate
EXPENSES:
Total Apartment Rent (per month): $3,050
Individual’s rent portion (per month): $1,565
Savings (per month): No idea
401(k) Contribution (per month): $404
Phone Bill (per month): $40
Medical/ Dental/ Vision (per month): $140
Internet/ Cable (per month): $70
Electric/ Gas/ Utilities (per month): $90
Gym Membership (per month): $90
Anything you want to add about your budget/ monthly spending?: I don’t have a number by number breakdown (I have a spreadsheet, and I check my checking account to make sure I’m tracking that way)
Person #8
Age: 30
Gender: Female
Occupation: Nurse Practitioner
Yearly Salary (includes bonus): $115,000
Married: No
Kids: No
Living Situation: Lives with Roommate
EXPENSES:
Total Apartment Rent (per month): $3,795
Individual’s rent portion (per month): $1,825
Savings (per month): $1,000
401(k) Contribution (per month): $400
Phone Bill (per month): $0
Internet/ Cable (per month): $34
Electric/ Gas/ Utilities (per month): ~$50
Groceries (per month): $200
Gym Membership (per month): $15
Seamless/ Eating out (per month): $300
Person #9
Age: 30
Gender: Male
Occupation: Doctor
Yearly Salary (includes bonus): $120,000
Do you have another form of income in addition to your day job (i.e. additional job, help from family members etc)? If so, how much money do you make/ get from that?: No
Married: No
Kids: No
Living Situation: Lives alone
EXPENSES:
Total Apartment Rent (per month): $2,500
Person #10
Age: 28
Gender: Male
Occupation: Non-Profit
Yearly Salary (includes bonus): $142,140
Married: No
Kids: No
Living Situation: Lives with Roommates
EXPENSES:
Total Apartment Rent (per month): $3,800
Individual’s rent portion (per month): $1,300
Savings (per month): $3,000
401(k) Contribution (per month): $2,900
Phone Bill (per month): $0
Medical/ Dental/ Vision (per month): $110
Internet/ Cable (per month): $70
Charity (per month): $570
Electric/ Gas/ Utilities (per month): $30
Groceries (per month): $50
Metro Card/ Car/ Transportation (per month): $50
Gym Membership (per month): $300
Subscription Services (per month): Netflix – $7 (split with a friend)
NYT – $7 (split with apt), The Atlantic – $8
Dates (per month): Not enough…
Seamless/ Eating out (per month): $500
Person #11
Age: 26
Gender: Male
Occupation: Real Estate
Yearly Salary (includes bonus): $140,000-$150,000
Do you have another form of income in addition to your day job (i.e. additional job, help from family members etc)? If so, how much money do you make/ get from that?: $600 a month dividend
Married: No
Kids: No
Living Situation: Lives with Roommates
EXPENSES:
Total Apartment Rent (per month): $4,700
Individual’s rent portion (per month): $1,575
Savings (per month): About $3,000
401(k) Contribution (per month): $1,500
Phone Bill (per month): $0
Medical/ Dental/ Vision (per month): $180
Internet/ Cable (per month): $50
Charity (per month): $5,000 per year
Electric/ Gas/ Utilities (per month): $50
Groceries (per month): $320
Metro Card/ Car/ Transportation (per month): $0
List subscription services and prices (per month): Use friends and family
Gym Membership (per month): $240
Dates (per month): $250
Seamless/ Eating out (per month): $500
Miscellaneous Expenses (per month): $200: Clothing, wine, Uber