Minimal Exposure.

I dont like finance. I dont like looking at balance sheets or income statements, and still dont know whats on which document. The only finance thing I do is my own.. tracking how much I spend that is. I guess to some people, thats not even finance. Oh well.

I started documenting every dollar I spend, on what, on which account, and all that good stuff. I always knew I should but I guess I was scared to know exactly how much I spent. Knowing that I'm on a budget, however, definitely helps me prioritize my spending. I've been pretty good so far, besides the punch in the face, also known as dineLA. But I should be fine because 1) I cut out plans to the bay area this coming weekend (saves at least $150 or so), 2) not going to Kollaboration (saves $35-65), 3) not going out to eat for the rest of the month (saves.. alot).

People see me as a workaholic in need to pay off overdue credit card bills due to my obsessive shopping habits or to make as much money to maintain the purchases I make. It's strange to see how these perceptions come about as neither are true.. how quickly rumors spread still amazes me.

Its crazy to think about how people spend their money now that I know how I spend mine. I try and get the most for my dollar but there are those who could care less how much they drop for a dinner or vacation because their stockpile seems endless. at more than $1 million a year, bankers and financiers are examples of said people.

But President Obama has set the top pay for banking executives "whose firms accept government bailout money" at $500,000. Thats a lot. But, like everything, its all relative.

taxes: $269,000 a year
living expenses (vacations, trips, etc.): total minimum cost: $16,000
mortgage and maintainence: total cost: $192,000
summer house: $240,000
chauffeur: between $75,000 and $125,000 a year
garage for car: $700 a month
personal trainer, $80 an hour: $12,000 a year
3 gala gowns: $35,000
2 children in private school: $64,000
nanny: $45,000
groceries: annual cost: about $15,000
other expenses: $790,750


Conclusion: $1.6-million salary MINIMUM to compensate for taxes and all expenses for a New York City banker/financier lifestyle.

“People inherently understand that if they are going to get ahead in whatever corporate culture they are involved in, they need to take on the appurtenances of what defines that culture,” she said. “So if you are in a culture where spending a lot of money is a sign of success, it’s like the same thing that goes back to high school peer pressure. It’s about fitting in.”

While reading the article, which can be found here, I felt a pang of jealousy. I want the lifestyle of a banker. Everyone thinks I cant go into marketing/advertising with my taste.. which I think is partially true. BUT.. I think about how the article never mentions the number of hours bankers work. How many days and weekends they spend away from their family. What memories they miss out on because they are in the office. How pressured they must feel to lead a lifestyle that is so expensive and showy.

I love to live life. I love doing the little things.. painting a shelf to make it look good again. Buying plants and furniture for my living room instead of hiring someone to do it for me. Cooking food and learning what not to do next time. Babysitting my younger sister and looking forward to raising my own children. Going grocery shopping and being frugal with the little money I have.

All of these things that I've learned from supporting myself have helped me think differently. And I think its all for the better.