Instant Alert: I'm a 25-year-old millennial newlywed who just bought my first home — here's how I make and spend my money

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I'm a 25-year-old millennial newlywed who just bought my first home — here's how I make and spend my money

by Anonymous on Mar 16, 2018, 10:56 AM

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  • For Business Insider's "Real Money" series, a 25-year-old millennial newlywed shares a week of spending on a $110,000 joint salary with her husband in Philadelphia. 
  • They recently bought a home and are trying to save money for house renovations, but this week she splurged when her close friends were in town from England. 
  • Want to share a week of your spending? Email yourmoney@businessinsider.com

Honestly, my husband and I spent way more this week than we usually do. 

With our friends in town we ate out more often than our average week and drank more often as well. As new homeowners, we usually prioritize saving for home renovations. And when we make extra money from freelance work, we typically put it toward traveling as much as possible. 

I make $50,000 a year and rely on my parents for my phone bill and health insurance (thanks, Obama)! My husband makes the rest of our combined $110,000 household salary. We try to save money by bringing lunch to work and buying our clothes on sale, but we're not afraid to treat ourselves from time to time. 

Here's a closer look at what I spent over the course of a recent week: 

SEE ALSO: I live comfortably in a resort town on $35,000 a year — here's how I do it

My husband and I pay $1,448 per month for our mortgage before bills and transportation.

Buying a house is expensive! Luckily, my parents still help me out financially by keeping me on the family cell phone plan and health insurance, but my other living expenses add up quickly.

In addition to monthly bills, I also still have a sizable amount of student loans to pay back. I usually pay $716 per month towards those debts. 



My husband and I take home $1,527 per week from our $110,000 income, and I pick up a few freelance writing jobs on the side.

With our extra money earned from freelance work, we travel as much as we can. My husband is from England, so we also like to have money available in case we want to visit his family in the UK. 



On Friday, I work from home and head to the grocery store at lunch time to prep for the arrival of our close friends, coming into town tonight from England.

I spend $90 on groceries and $27.95 filling up my car. When my husband arrives home from work, we head out to pick up our friends from JFK airport in New York. 

Yes, it's such a long drive from Philly (about two hours each way), but they are two of our closest friends so it's worth it! We stop on our way at Wawa and spend $17 on some traditional Philly treats like Tastykakes. We also spend $35 on tolls and parking at the airport. By the time we get home at 2 a.m., we all crash without eating dinner.



See the rest of the story at Business Insider


 
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