Welcome to Money Talks! New approaches to money have exploded. Yet, money remains taboo. Less than half of you share personal finance information with your friends and family.
But that’s all changing. Now more and more of you are talking about money because it leads to better outcomes.
In an effort to provide personal finance insights through transparency (and have a bit of fun), I’ve created a series titled Money Talks that showcases how real people in Charlotte approach money.
It’s an anonymous way for you to share your money experiences and insights with our city. Answers are lightly edited for clarity and privacy (ex, exact age). Want to participate? Take the Money Talks survey.
Living situation:
I live alone with my dog in a 2BR/2BA in South End. Rent is $3,020/mo.
When I moved to Charlotte 3 years ago, I was making 6 figures. Unfortunately, that is no longer the case.
Salary journey:
When I moved into my current apartment 3 years ago, I was making $120K/year in tech. I’ve gone through 2 layoffs in the past 3 years. In my most recent job, I was making $97K.
Bet on yourself:
3 months ago, I decided to start a marketing consultancy. I made $7K my first month but only made about $1.5K in my second month. It’s very unpredictable.
On your mind:
Not knowing what my income will be each month. Stressful! And discouraging. But I try to stay positive, give myself grace, and focus on all the great things happening!
Career path:
I’m a career pivoter. I’m currently in my 3rd career. I started in education, moved into B2B marketing/tech, and am now an entrepreneur. When I switched from teaching to marketing, I increased my salary by 83%.
In the past few years, my salary has gradually gone down, but fortunately I’ve been able to stay in my apartment and continue to pay rent. Though I’ll be honest, I am getting nervous now.
I’m only a few months into my new business though and have been very fortunate with all inbound clients. I have faith!!
Side hustle:
Yes. Babysitting which pays around $25/hr and tutoring which can pay up to $70/hr.
Debt:
I have no debt. Thank God.
Credit card:
I went with Chase Ink for my business. I also have an American Airlines Mastercard that I use most of the time to collect miles.
Budgeting:
Ehhhh, I don’t have an actual budgeting system or document, but in general, yes, I budget. I am mindful of what I spend and am always looking for a good deal.
Favorite expense:
Drybar membership. It’s $90/mo for 2 blowouts!
Regret:
Don’t be like me. Don’t choose an apartment or home that’s at the very top of your budget. You’ll thank me later.
Restaurant pick:
Yunta. You HAVE to order the $18 Hotate Nigiri!
Investment strategy:
I don’t have a financial advisor. I don’t use any tools. I’ve got around $50K in savings and $120K in my retirement accounts.
I have a long way to go, but I am proud of how far I’ve come!!
Savings goal:
I want to buy a house in Charlotte! I have to wait a good 2 years now that I am a business owner. So in the meantime, I just want to pay my rent and maybe do some domestic travel.
If money was no object, I’d buy a beautiful house in Dilworth with a large yard.
Retirement:
I’d love to retire before I’m 60, of course, but who knows if I can pull that off.
Income target:
Honestly, I would be absolutely thrilled with $150K/year. THRILLED. I think I’d feel pretty “financially free” then. If I made more than that, I’d consider myself to be ‘ballin’.
Rich in Charlotte:
If you’re single, I’d say anyone making over $200K/year.
Best money decision:
Adopting my dog. My worst decision was a dental crown I definitely didn’t need, but was pressured into getting. I’ll never get that $3K back!
Financial goals:
- Save up to buy a house by the end of 2027 (if possible).
- Go on one international trip each year.
- Make enough money to be able to continue to afford rent, especially when it increases next year.
Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate
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