Hannah is a 25-year-old living the hip, urban life of a postgraduate in Boston. She graduated with student loans of $63,000, thinking she'd get a great job that paid well. Instead, she has to work two jobs—and get substantial financial help from her mom, Lois, to pay all her bills and keep up with her expenses. She makes $2,010 a month from her two jobs...yet spends $3,237 a month.
Some of those expenses include $200 a month for gas; $810 a month in car payments, insurance and maintenance; $1,400 for a new bed; a $50 snowboard; and a $300 iPod.
"I do feel like I sometimes live a lie because my friends will call me and say, 'Let's go get a manicure and pedicure.' Or, 'Let's go to dinner.' And I know the bank account says, 'You can't afford to do it,'" she says. "I know I need to cut back. It's just tough when all of your friends are living this life."