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.
Personal Information
Job: Director
Age: 34
Neighborhood: Renaissance
Education: MS/BA
Estimated annual income: $86,000
Partner's salary: $22,000
Dependents: None (unless you count the pets, very millennial, I know)
Estimated net worth: $72,000
Debts
Car loan
Assets
Roth IRA + investment account
Monthly income
Full-time job
Monthly Expenses
The normal ones — rent, food, life. About a quarter of my spouse’s income goes to his (crappy, high-deductible) health insurance on marketplace.
Money Talk
Did your family talk about money growing up?
Very little, only in so far as to overemphasize that credit card debt is very dangerous and that a woman should have her own savings apart from a male partner (mom was trapped in a relationship with little/no financial independence).
Did you worry about money growing up?
Yes, I felt guilty when anything “unnecessary” was purchased for me.
At what age did you become financially self-reliant?
21
How did you learn to keep a budget?
The Internet, budgeting apps
Have you ever received inherited income, major financial gifts or a large insurance payout?
Yes, I inherited 20k from a grandfather some years back. Used all of it to pay off remaining student loans.
Do you worry about money now?
Yes, for most of my adult life I made between $28-35k per year and was the only income-earning partner in my relationship. Even though I make significantly more now it’s been hard to change old fears/anxieties/attitudes.
How much do you think a person or household needs to earn to live comfortably in or around Tulsa?
When I was making $48k per year as the sole earner in Tulsa, it was doable but tight to support two adults and three pets. I think an individual, by themself, would need at least 40k to live comfortably in Tulsa.
What are your financial goals?
I’d like to eventually have 6 months of expenses in savings, max out my Roth contributions for the year; and pay off my car debt. One day my spouse and I would love to take a honeymoon (married 4 years now). Those goals seem pretty far out, though.
Do you have any habits around money that you consider to be beneficial or harmful?
When I feel more hopeless about money (usually when I’ve made less) I tend to spend more indiscriminately, creating a vicious cycle.
Is there anything you'd like to add?
Money is so, so emotional for so many people. I think it’s incredibly important to normalize that very few to no individuals have a “normal” or “healthy” relationship with money.
