A few weeks ago, we published an edition of Home Economics featuring a data scientist who was earning over $500,000 a year (including base, company stock, and bonus). There was one line item in her budget that got readers talking: a personal chef share. She and eight friends hired a chef to prepare them meals that they could reheat for lunch and dinner over the work week. The cost: $1,000 a month.
Lindsey Stanberry
When asked to name one expense that makes her life better, the data scientist wrote, “Hands down, 100%, no contest, it’s my chef-share.” If she lost her job and money got tight, she said she make other lifestyle changes (like moving to a cheaper apartment) before she stopped outsourcing her meal prep.
It got me thinking about which expenses in my own life are nonnegotiable. We have a house cleaner who has been working for us for more than a decade now. It’s not cheap, but she does such an amazing job. (She’s coming tomorrow, and, truly, it’s the best day of the month!) Honestly, it’s an expense that provides me with so much peace of mind. I don’t have to fight with Ken over who’s going to clean the tub. And in this busy season of building a business and studying for the CFP exam, it’s a relief that I’m not also trying to carve out time to change all the sheets on the beds or vacuum the living room rug.
For many women, there’s sometimes a bit of shame and guilt around spending money on things like housekeepers or grocery delivery. But I was having a conversation with economist Corinne Low recently, and she pointed out that no one thinks twice when we outsource male-coded tasks like taking our cars to a mechanic for a tune-up and an oil change. She urges women to reframe some of these household expenses as investments. Consider how spending money on these services might help free up your time for work that only you can do?
Alicia Adamczyk
Most of us have an expense or two that we don’t want to give up, no matter how tight money gets. And while I love Corinne’s “investment” theory, I also think it’s okay if some of those expenses are just plain frivolous, like a monthly trip to get a pedicure or buying a pint of expensive ice cream after a bad (or good) day at work. I try to keep my grocery budget pretty tight, but I still like to indulge in the occasional expensive cheese.
What about you? What’s an expense (or two) you can’t live without and would go to great lengths to avoid cutting from your budget? Let us know in the comments!
