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: Financial Analyst
Age: 26
Neighborhood: North Tulsa
Education: MS and BS finance
Estimated annual income: $75,000
Partner's salary: N/A
Dependents: None
Estimated net worth: $6,000
DEBT
$150k home mortgage, $8.4k in graduate student loans
ASSETS
Own house, own 2011 Honda CRV, contribute 5% to 401k with 3% company match
MONTHLY INCOME
Work take-home is $4,150 after tax and deductions. Occasionally I’ll get some income from photography.
MONTHLY EXPENSES
Mortgage: $1,164
Student loan: $118
Electric avg: $83
Water/trash avg: $62
Nat gas avg: $66.7
Internet: $56
Car insurance: $87
Phone: $80
Car gas/tolls: $120 is the max I pay in a month, but it fluctuates below that
Food: $300
Miscellaneous/fun: $425
MONEY TALK
Did your family talk about money growing up?
Just about how we can’t afford it. So I operated in my early years as we can’t afford a lot of stuff.
Did you worry about money growing up?
Yes, but not as what we are going to eat but we can’t afford to do anything outside exist with bare necessities like try sports or hobbies
At what age did you become financially self-reliant?
21 when I stopped needing to ask for pocket change. 22 when I moved out.
How did you learn to keep a budget?
I always worked in Excel and just enjoyed tracking expenses and budgeting for trips and new moves. But I also researched best practices like Dave Ramsey and 50/30/20.
Have you ever received inherited income, major financial gifts or a large insurance payout?
No
Do you worry about money now?
No
How much do you think a person or household needs to earn to live comfortably in or around Tulsa?
If you don’t have a house or expensive hobbies I think you could get by well with $55-60k.
What are your financial goals?
Maintenance 6-month emergency fund and then save for other large purchases on top of that like another SUV in the future or house improvements.
Do you have any habits around money that you consider to be beneficial or harmful?
My budget and knowing how much things cost, like the average of my bills. I’m really good at planning. Negative—I’ve opted to prioritize my budget and saving money more than enjoying life at time or taking risks to invest in myself.
