Compare Spending and Saving Habits
TEACHERS • SUITS • SERVICE WORKERS (↓)
What money-related nightmares and daydreams float through the collective New York consciousness? To find out, we asked 100 suit-clad midtown pedestrians, 100 uniformed Manhattan Mall employees, and 100 schoolteachers all over the city about their spending and saving habits. Among other things, we learned that income disparity worries those at the top almost as much as those on the lower rungs, and that almost everyone likes a classy pair of shoes.
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(Photo: Eric McNatt) |
SERVICE WORKERS
Gender
Male 52
Female 48
Age
18–29 . . . 63
30–39 . . . 19
40–49 . . . 13
50–59 . . . 5
Are you married?
No . . . 70
Yes . . . 21
Living with partner . . . 9
How many kids do you have?
None . . . 56
1 . . . 20
2 . . . 13
3 . . . 5
4 or more . . . 6
What’s your approximate salary?
Less than $35k . . . 61
$35k–$50k . . . 18
$50k–$75k . . . 13
$75k–$100k . . . 5
$100k–$150k . . . 3
Are you underpaid or overpaid?
Underpaid . . . 69
Overpaid . . . 0
Paid the right amount . . . 25
What salary would someone need to live comfortably in New York?
$100,000 . . . 22
$300,000 . . . 16
$500,000 . . . 14
$750,000 . . . 7
$1 million . . . 9
$10 million . . . 5
It’s never enough . . . 25
Do you worry that New York is becoming a city only for the wealthy?
Yes . . . 79
No . . . 19
Where do you live?
Brooklyn . . . 33
Upper East Side . . . 5
Queens . . . 17
New Jersey . . . 4
Bronx . . . 15
Long Island . . . 2
Downtown . . . 7
Midtown . . . 2
Harlem . . . 6
Upper West Side . . . 6
Other . . . 3
Do you rent or own?
Rent . . . 83
Own . . . 14
How much do you spend each month on housing?
Under $1,500 . . . 67
$1,500–$3,000 . . . 25
$3,000–$5000 . . . 5
$5,000–$10,000 . . . 1
What’s your biggest money worry?
Housing . . . 24
Kids/family . . . 10
Tuition/college loans . . . 9
Retirement . . . 6
Health care . . . 5
Job security . . . 4
“Food,” “social life,” “my daughter,” “not being able to give my family what they need”
How much credit-card debt do you carry?
Pay it off every month . . . 40
Less than $5,000 . . . 32
$5,000–$10,000 . . . 8
$10,000–$15,000 . . . 5
More than $15,000 . . . 9
How much do you save for retirement?
At least 10 percent of my monthly income . . . 31
I put a little away when I can . . . 20
I’ll start saving when I make more money . . . 27
None. I’ll work until I die . . . 18
How often do you eat out each week?
Never . . . 6
Once . . . 23
Twice . . . 19
Three times . . . 26
Almost nightly . . . 26
What’s the most you’d spend on dinner for two?
$0–$24 . . . 5
$25–$74 . . . 19
$75–$149 . . . 29
$150–$249 . . . 19
$250–$499 . . . 5
The most you’d spend on a pair of shoes?
$0–$24 . . . 3
$25–$74 . . . 13
$75–$149 . . . 33
$150–$249 . . . 24
$250–$499 . . . 5
$500+ . . . 4
Do you ever think twice about taking a taxi because the subway is less expensive?
Yes . . . 59
No . . . 40
Which of the following do you consider necessities?
Cable TV . . . 53
Car . . . 45
Designer clothes . . . 23
Gym membership . . . 16
Private school for kids . . . 15
Eating out at least four days a week . . . 14
Maid/nanny . . . 5
Doorman . . . 3
“Having a girlfriend or mistress with money,” “a place to go away on weekends,” “phone,” “going clubbing,” “dog walker,” “dry cleaning”
What item have you splurged on in the last year?
Tattoo . . . $150
iPod . . . $250
Shoes . . . “$320 give or take—shhhh!”
Gucci boots . . . $450
Sneakers . . . $500
Coach bag . . . $580
Coat . . . $600
Gold chain and bracelet . . . $1,200
Car accident . . . $1,500
D&G fur vest . . . $1,700
Engagement ring . . . $2,100
Louis Vuitton bag . . . $3,000
Laptop . . . $3,200
Flat-screen HDTV . . . $3,500
Vacation . . . $4,000
Schooling . . . $5,000
Motorcycle . . . $28,000
Condo . . . $187,000
