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A lot of adults live with their parents. Hey, if itâs an option for you, itâs a great way to save money.
But what happens when more years at home doesnât equal more money in the bank?
Youâre about to see a week in the life of Beth, a 23 year old Financial Analyst living with her family in Chicago. Bethâs salary is $82k, but sheâs struggling to hold onto her money. Read more about those struggles in this week's Money Feels.
Stick around to see Bethâs spends, and the tips and tricks that we, the best money app around, have put together for her, you, and anyone else who needs them.â
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Name: Beth* (*not really. You know the deal by now)
Pronouns: She/Her
Location: Chicago
Job: Analyst
Industry: Finance
Yearly Salary: $82,500 (25% goes to taxes, and 31% to Bethâs 401k)
Pay check amount (biweekly): $1550
Savings: $1,000
Rent: $0. She lives at home
Utilities: $0
Subscription products: Gym ($190)
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Monday
My parents were out of town. This was a public holiday, so I had the day off work and didnât want to do anything.
I was in charge of feeding my younger sibling and cousin who lives with us. I didnât feel like cooking so we ordered sushi and fried chicken ($100).
Mondayâs total: $100
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Tuesday:
Back to work. I work Monday - Thursday in the office. They only require us to come in 3 times a week but I normally do 4. Home gets crowded, so I prefer it there.
Instead of buying a coffee on my way, I made one at home. Gotta save that money.
In the afternoon, I spent $44 on a pair of sunglasses I had been wanting from The Real Real (my fav app). I mainly use the app because I just like to look at the clothes. This time though, I had a coupon, so I got the glasses cheap.
I also grabbed a $1.12 fountain drink at McDonaldâs as a pick-me-up during work. I go here because itâs cheaper caffeine than a $7 coffee from Starbucks.
After work I went to Trader Joes ($40) to get ingredients for tomorrowâs lunch. I like different food than my family, so I buy my own groceries. They normally eat mine too. I donât pay rent, so itâs totally fair.
I need to get better at making lunches at home. When I work remotely, itâs easy to make lunch. I can sleep in until 8am and make lunch in real time. When I have to get up and do the journey to work (about 40 mins), I find it way harder.
Tuesdayâs total: $89.12
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Wednesday
Iâve been trying to sort out somebodyâs will. I didnât want to spend money on an attorney, so my friendâs mom reviewed the will for me as a favor. Me and my dad agreed I should get her a nice gift, so I gave her some flowers ($150).
I had a bad day at work. So I went to Sephora and bought some skin care products ($60). The store is right by where I work, so I always go there if Iâve had a tough day. Iâm a member though, so I had a $10 off coupon. I got a discount and points, at least..
Wednesdayâs total: $210
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Thursday
I woke up and needed to go to the office, but my car had an expired ticket (I do get the train to work, but I have to drive to the train station).
My sister was out of town, so I took her car. I put a tiny bit of gas in there just so the light would go off and she wouldnât know Iâd used it. ($15)
On the way home from work, I bought donuts from a local store ($8). They were for my cousin and me, it was National Donut Day, so why not?
I also grabbed some more groceries ($21) because my family ate my leftovers from Tuesday.
Thursdayâs total: $44
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Friday
Friday was another day at the office.
For lunch, I went to Chick-Fil-A ($12). I have rewards so I can get points and free meals. I got free fries this time. I grabbed 2 fountain drinks from McDonaldâs: one for me, one for a colleague ($2.98).
In the evening, I went out for drinks with a friend from high school. She paid for my drink ($0đ). I hate Ubering, but I knew Iâd have alcohol, so I spent $20 on a ride there and $40 to go home.
Fridayâs total: $74.98
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Saturday
I didnât spend anything on Saturday. I did run 7 miles though.
Saturdayâs total: $0.
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Sunday
I was supposed to do a Catch Me If You Can workout class in the morning. I woke up so sore from Saturdayâs run that I had to cancel. Thatâs a $12 cancellation cost.
Sundayâs total: $12
Bethâs weekly total: $530.10
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đ Keep being you
Beth, youâre so obviously a super caring person. You look after your sibling, cousin, and aunt, and help out your parents on weekends. Youâre doing literally the most. Donât be hard on yourself about overspending sometimes.
Money is there for when you need it. And right now, it seems like your big monthly expense is going to Texas to see your aunt. Quality time with family > having enough savings to move out.
đ« We see you, Loyalty card Queen
Donât love that you go to Sephora when youâre sad âčïž
Do love that youâre wiping your tears away with your loyalty card đ¶
P.S. If youâre reading this and wondering where the hell anybody said Beth was sad-girl-Sephora-shopping: look no further. When youâre done with this blog, go learn about Bethâs relationship with money.
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You mentioned money hacks donât come up on your fyp. So go get âem! Once youâve found a few you like, the almighty algorithm will bring more. For now, hereâs some follow suggestions:
đ§ł @erikakullberg (for travel hacks)
đ @addison.jarman (for Amazon hacks)
đ @herfirst100k (for all things saving & investing)
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Every week, we update our page with new money hacks, reviews, and guides on financial stuff. Itâs literally our job to make you feel less stressed about money, so we put a lot of effort into it.
Based on your week in spends, hereâs a few articles to start out with:
đŻ Next time you want to take your cousin out for free food
đ Next time you want free food for yourself
đŠ If you want to sell some stuff for extra cash on Ebay
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Make your monthly trips to Texas a little more manageable by making a few simple decisions along the way. Hereâs how to get the cheapest flights in 2022.
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You can get chrome extensions that apply coupons automatically when youâre surfing the old world wide web. See if you like any of these:
đŻ Honey (discounts)
đ Ecocart (free shipping)
đ” Rakuten (cashback on orders)
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Hope all of this helps.
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If youâd like to speak to us about your money, hit me up at alex.s@meetcleo.com or make an account on UserInterviews to find our survey there. (Psssst, that site is a great way make some fast cash anyways, even if itâs not our survey you wanna do). Our rate is $60 for your time, and we don't use your real name, obviously.
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Wherever youâre at with your money, keep going. You got this.
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Enjoy this post? Def give it a share or send it along to a friend. You never know, it could make a big difference. And of course, if you want to try the best money app in the world for free, just hit this link right here.
âBig love. Cleo đ
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How couples and singles are saving, spending, discussing, and thinking about their money.Â
But, money app blog, why are you writing about a random Beyoncé release?
I joined Cleo in March as a Backend Ruby Engineer, three weeks after I joined the UK went into lockdown and I was working in a fully remote team. These four approaches to working have helped me stay an active contributor to the team over the last three months of isolation.