It’s Per$onal #64 – Age 23, Providence, RI

It’s Per$onal is an anonymous blog series designed to shed light on the intricate details of the personal finances and lifestyles of women.

its personal

Name:

Lauren

 

How old are you?

23

 

Where do you live? City and State (or Country if outside the U.S.)

Providence, RI

 

What is your highest level of education?

Bachelor’s

 

Are you single or married?

Single

 

If you are married, do you and your spouse have joint or separate finances?

 

Do you have any children or dependents? If yes, please explain.

No children, just a dog 🙂

 

What is your total monthly rent / mortgage for your household?

1720

 

Has Covid-19 impacted you financially in any way?

No and I’m very thankful to still have my job. But I will say that the student loan interest/payment freeze has been nice

 

What is your current occupation? If not currently employed, please say “Not Employed”

UX Designer

 

What is your yearly salary (or approximate yearly compensation) for your current occupation?

$92,000 (includes the signing bonus I received when I started my job in January)

 

If you are currently employed, do you like your job? Why or why not?

Yes! This is my first full time job so I’m constantly learning and becoming a better designer. Also, my team members and the projects I get to work on are great.

 

Do you have a second job or side hustle? If Yes, please explain.

No but within the next year I’d like to start a side hustle.

 

If you have a second job or side hustle, about how much money do you make monthly from your second job / side hustle?

N/A

 

Do you budget on a consistent basis? If so, please explain how you currently budget:

Only in the past 5 months have I started to consistently budget and keep track of my expenses. The amount I budget in certain categories (like clothing) can fluctuate each month. I use a spread sheet to track income, expenses, and networth.

 

Are you debt-free?

No

 

If you are debt free, how much debt have you paid off and how long did it take you to pay it all off?

N/A

 

Do you have any student loan debt currently?

Yes

 

If yes, about how much student loan debt do you have?

$14k but the original amount was $23k

 

What is your monthly student loan payment amount?

1800

Do you have any credit card debt?

No

 

If Yes, about how much credit card debt do you have currently?

N/A

Do you have any other kinds of debt? If Yes, please explain:

N/A

 

Do you know what your credit score is?

No

 

If Yes, what is your credit score?

 

Are you currently saving for retirement?

Yes

 

If yes, about how much do you have saved for retirement?

About $6,000

 

What does an ideal retirement look like for you?

Traveling, volunteering at animal shelters, and enjoying time with family. I’d love to have extra income from an airbnb/rental property

 

What’s your biggest purchase of 2020?

A new couch ($650) and adopting my dog ($550)

 

Biggest purchase of your life?

My college degree

 

What do you spend money on that brings you joy?

I love to shop for home décor! I’ll definitely splurge on furniture/décor items I know I will have for a long time.

 

What are your short term money goals, if any? ( < 1 year)

A $5000 emergency fund and paying off my student loans

 

What are your long term money goals, if any? ( > 1 year)

Buying a car in cash and saving for a down payment on a house

 

What is your #1 financial concern right now?

Paying off my student loans. I’m paying as much as I can during the payment freeze to lower my principle

 

What financial victory/success are you most proud of?

I just hit positive net worth!

 

Anything we didn’t ask about you that you want to include?

In order to achieve my financial goals faster (and to avoid another winter alone, thanks covid) I am actually moving back in with my parents at the end of the month. My expenses should be significantly lower and I’ll be able to put more towards my student loans.

 

It’s Per$onal is an anonymous blog series designed to shed light on the intricate details of the personal finances and lifestyles of women.

 

it's per$onal

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About Taylor

A few years after graduating college, Taylor made it her mission to become debt free. After paying off all $60k of debt, she began to blog about what she's really passionate about: personal development. Nowadays, Taylor blogs about the topics of Mindset, Money, Health, and Career for women.

"It's Per$onal" is a super popular and anonymous blog series about the personal lives and finances of women all over the world. Check it out!

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