Hey neighbors, happy Thursday. Summer Streets continues this Saturday 7am-3pm and if you’re not already planning to go, what are you even doing?

It's a 100% car-free route from Brooklyn Bridge to Dyckman Street. My girlfriend and I logged 30 miles there and back last weekend. Do it. Trust me. You can get a free Citi Bike day pass using code LYFTSUMMER25 but it was sold out when we tried. Ended up spending $107 on a Citi e-bike instead. Ouch.

📉 Real estate: Rudy Giuliani recently sold his 10,000 sq. ft. UES apartment. And after running the numbers, it looks like he barely broke even after owning it for 23 years. Yikes.

🏠 Manhattan rent: Median rent hit a record $4,700 in July, up $75 (1.6%) from the previous record of $4,625 in June. Bidding wars are at an all-time high.

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Cash Confessionals are weekly stories where NYC locals peel back the curtain and expose their money habits.

Living situation: I Rent. My partner and I each pay $1,725/month. We live in Bed-Stuy, which has been perfect for us and a good value for what we get. I love the space and the AC/heat units in every room, the gas stove, the in-unit washer and dryer. It's everything I need right now. If I could live anywhere, I’d probably pick Park Slope, Cobble Hill, or Park Avenue. The dream spots, you know?

Career: I’m a Sales Executive in Hospitality. I just started this role, so I'm still figuring it all out. I have a $72k salary with quarterly commission expected to be an additional $70k this year. I'm satisfied with my overall comp if it pans out. I'm supposed to close $1 million in business and then I get 5% of those sales. The "if it pans out" part is what makes me nervous, but the potential is exciting.

Expenses: I probably spend $50/week on groceries and household stuff, $40/week on alcohol, $50-$100 on random spending. Either healthcare or my Equinox membership are my biggest expenses other than rent.

Best money decision recently: Spending $6k on one of my stylists (not including the clothes and haircut portion of the experience). Looking back, it was probably excessive, but I don't completely regret it.

Debt: I have about $2,500 balance on my credit card right now. I’ll just pay it off monthly like I always do. I don’t carry debt long-term. I'm not really in debt, but what keeps the balance up is needing to treat myself constantly on stuff like wine, feeling ugly and getting my nails done and facials, green juice. It's the little indulgences that add up.

Saving & investing: This is so bad, but I normally save $500/month lol. I know I should be saving more given my situation, but life is expensive. I do have $150k+ in my emergency fund. This is honestly where most of my net worth sits, and it makes me feel secure even when other things feel chaotic.

Retirement: I used to almost max out my 401k, but when I switched jobs they haven't let me contribute yet. I get to start again next month, which I'm excited about. Currently, I have around $30k-$33k. Not as much as I'd like for my age, but I'm getting back on track.

What are your long-term goals? Save enough money to feel comfortable quitting a full-time job and working for myself. I'd probably do this slowly and maybe start with freelancing or consulting while keeping some steady income. I'd also be open to buying an investment property to live in and refurbish/improve because I love home projects, but I don't want to contribute to gentrification. So if I did this, I would find a way to also uplift and support the local community through charity contributions and supporting small businesses. It's important to me that my financial success doesn't come at the expense of others.

Thanks for reading this week’s edition. If you have ideas for stories, know about new business coming soon, or want to do your own anonymous Cash Confessionals submission, let me know!

-Josh

P.S.

Read something you like or maybe don’t like? Hit reply and let me know!