Fitness
Women Reveal How Much They Earn And Spend
We are all simply works in progress — spending, learning and evolving.
AARP (Dan Saelinger/Trunk Archive)
We all know "money doesn't grow on trees.” For some, it "burns a hole in their pocket," while others are busy "pinching pennies." Some are born with a silver spoon in their mouths, many live paycheck-to-paycheck, and a few of us unlucky ones are simply cursed with a champagne taste on a beer budget. Wherever you fall on that spectrum, money has a grip on all of us — and yet we rarely talk about it in detail. We don’t share much about our spending habits, or the number of zeros (or lack thereof) on our checking accounts; it is a shame, because there's a lot we could learn from each other. A peek onto someone else's checkbook might teach us better habits, ease some of our guilt — or, for a few of us, stir up a little more. I asked five women to open up about their spending habits, and they didn’t disappoint. Keep reading to find out where you fit in, and you just might learn a thing or two about your own relationship with money.
Don’t Stop Believing
“Currently, I live in a fifth-wheel trailer on a friend's ranch. My boyfriend covers our rent, utilities, and cell phone bills because my income simply would not be enough to pay those expenses. While I am incredibly grateful for his support, I sometimes feel guilty wishing I could contribute more or afford vacations and experiences on my own. My Social Security check is approximately $1,200 per month [and in California, that doesn't go far — it won't even cover rent}. Fortunately, I receive food assistance, which helps me afford groceries that can easily cost $200 to $300 per month.
"Over the years, my spending priorities have changed. A few years ago, much of my budget went toward a truck payment, insurance, and college expenses, often leaving me with less than $100 a month for anything enjoyable. Today, I focus my spending on things that support my dream of building a career in entertainment, including acting classes, film festival submission fees, car insurance, and the occasional Dutch Bros coffee. My goal is to achieve financial stability through the entertainment industry and eventually no longer rely on Social Security. Until then, I continue investing in my dreams and working toward a future where financial security is possible.” — Darrelle, 44, California
I Get By with a Little Help from My [Mom]
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“Right now, I am a part-time deli clerk, as well as a part-time administrative assistant. Each month, I make [about] $750. I usually spend more than I make, and I feel like I cannot resist when I see a deal or new eye-catching items. I spend a lot on clothing, beauty products, food delivery, groceries, and personal training. I usually feel guilty afterward, especially if my mother sees the packages that arrive, because I am still living at home and not paying rent. I feel like I am taking advantage of my mother's kindness.” — Samantha, 33, Canada
Larissa stands outside her home where she lives with her husband and two children.
Celia D. Luna
Money Does Not Grow on Trees
"Growing up, I did not understand money because my family always provided everything, with the key reminder that 'Money does not grow on trees.' At sixteen, I began to recognize how our home, education, and travel reflected my family’s wealth and my father’s hard work. In college, I started earning money and learned to budget, track expenses, and contribute to my tuition. Marriage and motherhood changed my perspective again. We spent freely on luxuries, but soon our family businesses struggled. Financial stability became a priority. While caring for my son’s medical needs, I returned to the lessons my father taught me: keep records, reduce unnecessary expenses, and plan carefully. Eight years later, I returned to work while pregnant with my daughter. Raising two children taught me that money is an essential part of life, but it does not determine your happiness. Life’s experiences taught my family an important lesson. Having it all, losing almost everything, and then rising back up to stability showed us three principles: LOVE comes first, WORKING HARD comes second, and CHOOSING HAPPINESS comes third. Although I am currently unemployed and still want to provide for my family, I no longer measure success by money. I value time with my parents, husband, and children." — Larissa, Florida
From left to right: Angela, Luis G., Luis A., and Larissa sit on the porch in their backyard.
Celia D. Luna
Taking Care of Business
“For much of my adult life, I lived on my own and made ends meet, while still being able to indulge. In the final few years of my corporate job, I made about $100,000 a year and rented a one-bedroom apartment in Manhattan for $2,800 a month. I had enough money to pay my bills, treat myself to clothes, and have dinner and drinks [out on the weekends]. When I got married, one income became two, rent became a mortgage, and although I had more financial security than ever, [it felt like] less freedom. I had to get used to the whole 'our money' thing. I felt like I needed approval for every purchase, and I became more conscious of impulse shopping and excessive spending. It took us a while to find our rhythm, but with time and communication, we did. Now I run my own business as an artist. I make less money, but I'm so much happier. And, as it turns out, loving what you do has a way of making you want less.” — Erika, 52, South Carolina
Even Though We ‘Aint Got Money
“I make no money, but my husband has a good salary. My spending and relationship with money has changed over the years because I value different things at this stage in life. Now I only spend on food, travel, and the things I need. I don't spend as much on clothes, shoes, etc., as I used to. Life is more than money, and experiences are more important than material things. Well, except for maybe my hair. I do spend on that!” — Mary, 55, Florida
Gold Digger
“I spend more than I make. My income consists of Social Security, which I receive based on disability, but I am married and my husband makes enough for both of us to live well. We have always kept joint accounts with a sense that everything is ours together. So I spend more than I make, but not more than I have, thanks to a generous husband. What I have come to appreciate about money over the years is that once a person’s basic needs are taken care of, their decisions around finances reflect their values and fears. This seems like the most important thing to me — not what you spend or what you spend it on, but rather, does your spending reflect your values? And if you are part of a couple who share money, do your values align with one another? And that can be a challenge!" — Sarah, 56, Connecticut
The moral of the story, girlfriends? There is no right or wrong way to spend. We are all simply works in progress, spending, learning, and evolving.
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