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.
Here’s a look into the personal finances of a single 34 year old with no kids.
Living situation:
I rent a 2BR in Dilworth because I work from home and needed an office. I pay around $3,400 for rent when it’s all said and done. My rule of thumb was not to spend more than 30% of my salary on rent. I am at about 25%. It’s very doable. I love my apartment but definitely do want to buy a house in the next few years.
Job:
I’m a Director of Content, but I also have my own LLC and freelance business outside of my 9-5.
Salary:
My W2 salary is $180K.
Salary journey:
My first year out of college I made $30K. My salary slowly increased over the years, taking a jump from $60K to $90K at one point in time.
I was eventually promoted to Director of Content, making $100K. A year later, I jumped to $130K, then landed a $160K role at a tech company.
I ended up being laid off from that role, before eventually finding my current job.
You’re just a number to a company. Don’t stay if you’re not being promoted. I was only able to make big jumps because I switched companies every 2-3 years.
Other income:
In 2024, I made an additional $108K from freelancing.
After being laid off and job searching for my current position, I was fortunate to secure several solid freelance contracts, some of which turned into long-term opportunities.
Work/life balance:
It’s incredible. In previous jobs, I stretched myself to thin, but I no longer have to. I complete most of my work in about 4 hours, then focus on freelance projects after hours — all while maintaining PLENTY of work-life balance. It’s so important for your mental health!
Debt:
I currently have $19K in student loans, and pay $500/mo toward those.
I paid off $45K of credit card debt this past year.
I didn’t understand finances until I was laid off—that’s when I got serious about budgeting. I started listening to a podcast called Rich Habits which taught me that you can’t out-invest high-interest credit card debt.
That really stuck with me, so I made paying it off my priority. It hurt to put my first 6 months of freelance payments entirely toward debt, but it feels amazing to have it all paid off.
Credit Card:
Chase Sapphire Reserve. The $550 annual fee is worth it. Lounge access, no blackout dates for travel, points transfer to flights and hotels, 50% more value when redeeming for travel. Totally worth it.
Budgeting:
I started to budget this past year when I knew I had to pay off my credit card debt. I’m really into it now.
I use Copilot and love it. Copilot uses your habits to create realistic budgets for you. It shows your net worth after every month based on spending habits. It’s also super easy to categorize transactions.
I never realized how much I was spending on things until I tracked every single dollar coming in and out. I wish I would have done it earlier.
Best/Worst recurring expense?
The best recurring expense is ClassPass. It’s $120/mo and totally worth it. I love trying different workouts across Charlotte.
The most annoying recurring expense is YouTube TV at $83/mo. Since my family uses it, and I’d feel bad canceling. I barely use it—except to watch my alma mater play.
Splurge:
Travel. I am very grateful I can travel right now while I have no husband or kids. A chunk of my budget specifically is designated towards travel and I wouldn’t have it any other way. It’s so important to experience other cultures, people, and places.
Charlotte money hack:
Shop local farmers’ markets like the Charlotte Regional Farmers Market for fresh produce at better prices than most grocery stores. Plus, you’re supporting local farmers!
Favorite Charlotte restaurant?
On a budget, it’s gotta be Ace No. 3 burgers. I get the single patty Ace with extra pickles, extra onions, and a side of sweet potato tots. UNMATCHED.
If I’m feeling a little fancier, Ever Andalo in NoDa is a must-visit. Start with the Ricotta & Honeycomb Crostini. For the main course, go for the Tagliatelle Bolognese or the Porcini Agnolotti—both handmade and packed with rich flavors.
Total savings/investments?
Retirement savings is only $30K. I’ll be honest—I got started late on my 401K because I didn’t understand the importance of retirement. The good news? I’m now maxing out my Roth IRA.
My investment portfolio (which I manage on Public – highly recommend) is 75% ETFs, 10% crypto (mostly Bitcoin), 10% single stocks, and 5% bonds. I have $70K in the stock market right now. I currently invest $1.5K a month straight from my paycheck, and all my freelance money (after taxes) goes into my brokerage account.
For short-term savings, I’ve stashed $12K or 3 months worth of expenses in a HYSA (also through Public). I also use Grifin, it’s an app that invests $1 into every public company where you make a purchase — so I’m literally buying stock in the places I shop without even thinking about it.
Another tool I swear by is Oportun, which lets you create savings “buckets” for specific goals. It pulls small amounts daily from your checking account, so you barely notice it happening. I’ve got a skincare bucket, a rainy day fund, and a travel fund. It feels so much better to spend in these categories knowing I’ve been quietly saving for them all along.
Savings goal:
The goal that matters most to me is being able to retire my parents. They’ve both worked so hard their entire lives and are still working into their late 60s, and I honestly hate seeing that. I want to give them the chance to finally relax and enjoy life without worrying about money.
Total net worth:
My total net worth is now $130K, built entirely on my own. Just two years ago, I had $0 to my name and only $7K in my 401(k).
My #1 advice to others looking to grow their net worth? Just get started! I wish I had understood the power of compound interest earlier—it’s incredible how much of a difference time can make.
Retirement:
I’d love to retire by 55 and have over $5M saved so I can enjoy it while I’m still young. Traveling is a big part of my dream retirement—hopefully with a husband and kids to share those adventures with.
I also really like the idea of opening a small bookstore. It would be such a peaceful and fulfilling way to spend my time while staying connected to the community.
How much money would you need to feel complete financial freedom?
I’d need to be making $500K a year to feel safe. I know that sounds insane, but I made $288K this past year and didn’t even come close to feeling financially free.
What do you consider “rich” in Charlotte?
Being able to comfortably afford a home in an area like Myers Park, Dilworth, or South End, while also saving, traveling, and investing without worrying about day-to-day expenses.
Best/Worst money decision?
I sound like a broken record – but the best decision I made was to listen to Rich Habits for the first time in April of 2023.
I also bought $10K worth of Bitcoin last year, and my investment has tripled since then.
Financial goals:
- Make over $300K annually (W2 + freelance combined): I plan to negotiate aggressively during promotions or job changes to grow my W2 income and continue building my freelance client base, focusing on premium services and retainer packages.
- Buy a townhome in a walkable neighborhood: To achieve this, I’ll save for a 20% down payment in a HYSA while keeping my credit score high and debt-to-income ratio low. I’m also monitoring real estate trends in Charlotte to find the best opportunities.
- Invest $4K plus a month: To hit this goal, I’m channeling freelance earnings and exploring passive income opportunities, like digital products or courses, to supplement my salary.
On your mind:
I’m 34 and still single, so I think a lot about how to handle all my financial planning alone. A dual-income household would be nice, but I’m proud of how well I’m doing on my own.
Anything else:
I just want to say how much I appreciate this Tiny Money newsletter. It’s so refreshing and important to have open conversations about money — something that still feels taboo for a lot of people.
Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate.
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