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:
Own a house. I’ve got a 10-year-old child. I wish I could afford to send her to fancy summer camps. I’m already thinking about college affordability.
Job and salary:
Librarian. I make $90K. My husband makes an additional $135K. So, the combined total income is $225K.
Salary journey:
Started as a children’s librarian 15 years ago in another state. I made $42K. I moved to Charlotte, where I got a pay bump to $55K. Then moved into a management position.
Overall, we receive 4-6% annual pay increases based on performance.
Debt:
Mortgage and $15K in credit card debt, which I’m working hard to pay down!
Credit card:
AMEX for SkyMiles is my top card that I actually use. I also have a Wells Fargo card, but I only signed up because they offered 1.5 years with no interest.
Budgeting:
I use Rocket Money, but I’m not the best at budgeting. My number one money waster is eating out. Luckily, I’m not a big shopper!
Favorite expense:
Crime Junkie on Patreon. It’s $5 per month.
Money hack:
Taking a Lyft is almost always cheaper than parking at the airport.
Restaurant pick:
DD Peckers has the best wings in Charlotte. We go there at least twice a month. Best $13 Buffalo Chicken Wrap in the world!
Savings goal:
We have 2 trip funds. We want to go to Italy in 2027 and Tokyo in 2031. So far, we have $1,500 in the Italy fund and $3,000 in the Tokyo fund.
Net worth:
About $50K, plus our home equity.
We’ve got about $5K in personal savings, $45K in 401(k), $15K in 529 plan, and some money in state retirement.
Retirement:
Don’t know! I’m trying to save for retirement, but I feel like I’m still too young to have much of a game plan. I’m thinking mid-60s.
Rich in Charlotte:
Net worth of $250K or higher.
Financial goals:
- College fund to a minimum of $50K. Currently $15K, my mom has another $5K, and my daughter will get money when people pass away.
- Afford big vacations without going into debt.
- My husband owns a franchise and wants to open a second location, which requires a $200K investment. We’d have to borrow from friends and family.
On your mind:
I want to join a gym but every time I join one, I don’t go enough to justify the cost. The YMCA costs around $150 for a family package. I hate going weeks at a time without going.
Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate
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