Welcome to The Pickup’s Money Journal series, where we (anonymously) snoop on our Tulsa neighbors’ finances. Want to be snooped on yourself? Fill out our Money Journal submission form, or email Matt Carney at matt@thepickup.com. Thanks to our pals at Racket for sharing this format with us.
Job: Math Tutor
Age: 34
Neighborhood: Midtown Tulsa
Education: BA, Economics
Estimated annual income: $48,000
Partner's salary: N/A
Dependents: No
Estimated net worth: $75,000
DEBT
No debt
ASSETS
I own my car and have 5 figures in retirement and a little bit elsewhere in my bank and investment accounts.
MONTHLY INCOME
Math tutoring is irregular throughout the year, so this is roughly my average income for the last few years by month:
Jan: $3,200
Feb: $3,600
Mar: $4,700
Apr: $3,900
May: $4,900
Jun: $1,400
Jul: $1,300
Aug: $1,800
Sep: $3,300
Oct: $4,100
Nov: $3,800
Dec: $3,400
MONTHLY EXPENSES
I pay for rent, subscription services (website hosting, Spotify, various streaming services, renter's/health/auto/life insurance), groceries, eating out, fuel, electricity & internet, and currently, a good amount of events. I also donate some money to charity.
Monthly, Rent is about $1700, including fees and some utilities, streaming services is roughly a hundred or so, website hosting $60, insurance is $600, groceries is hard to guess ($500?), eating out a few hundred, fuel $50, electricity & internet $125, events let's say $100?
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MONEY TALK
Did your family talk about money growing up?
My family was conservative with money, and we talked about it a lot. Not overspending, how to invest, what savings vs checking vs CDs vs retirement were. They didn't explain everything, but they talked about it a lot with friends and family.
Did you worry about money growing up?
We weren't worried about being evicted or not having enough to eat, but my parents did always give me the impression of being anxious and stressed about doing everything just right. They were risk-averse people for the most part, and were always looking to make sure we had enough to plan ahead.
At what age did you become financially self-reliant?
I think I wasn't fully financially self-reliant until a few years ago, as I was either living with friends/family or was getting some form of support from them.
How did you learn to keep a budget?
A mix of my parents, various Youtube videos, and just resources I sought out myself.
Have you ever received inherited income, major financial gifts or a large insurance payout?
I have inherited some money from an aunt.
Do you worry about money now?
I worry about money, specifically not growing my investments/savings, which is not good for the long run, and making sure I keep under budget to be able to grow that money. I feel behind where I need to be.
How much do you think a person or household needs to earn to live comfortably in or around Tulsa?
I'm not 100% sure, but around what I make, the $40,000-$50,000 range should be solid for someone living by themselves. For families, this obviously changes.
What are your financial goals?
Earn more, cut on spending, sell things I don't need, really start to have other forms of income that I can rely on and grow, both active and passive.
Do you have any habits around money that you consider to be beneficial or harmful?
I will sometimes buy if I have a lot of faith in an item, which can be harmful when I misjudge and need to buy a replacement or an addition. I check my accounts frequently, which is beneficial, as I rarely get caught by surprise and can adjust my habits as needed.
