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. Bought this as our first single-family home in 2015, 4% mortgage.
At the time, we were kid-free, and real estate and mortgage rates were cheap compared to 2025. I had no idea we’d be buying a house we’d be in so long. Luckily, the home had room for our growing family.
Now we have the “golden handcuffs.” Our home value has doubled, so for us to move, we’d need a home in the $1.3M+ range to make it an upgrade, and that means our housing cost would at least double.
Even if we moved to a lateral-quality home, our housing cost would be ~33% higher.
We’re blessed, but sort of stuck.
Family:
Two kids in elementary school. As kids get older, their activities and sports begin to get costly. Gymnastics, piano, baseball, soccer, etc. Then you add baseball training, it becomes a slippery slope with spending.
But seeing them develop and the skills and character they build through these activities makes it worth it.
Job and salary:
VP at a tech consulting firm. $204K base + 50% bonus (with accelerators for achievement over 100% of goal). Total around $315K.
Salary journey:
Entered the workforce during the 2009 financial crisis. Started off making $30K as an inside sales rep in freight logistics.
Bounced around several sales jobs/industries from 2009-2011. Then stumbled into the technology business in 2011 through a mutual connection, and found my calling.
Became the top producer in the business for years, then left after a decade for a leadership opportunity. Moving from individual contributor to leadership was a difficult journey, but my earnings have finally matched what I made as an IC.
Other income:
$10K from a blog side hustle that I started in the late ’90s when I was 12. Blogs are so 2010. Earnings peaked at $50K in 2009, but have declined since then with SEO changes.
Work-life balance:
Amazing! I work fully remote. It’s got its challenges, but it’s been a huge blessing with our kids. I’m able to be at every game and practice.
Debt:
$30K on a car loan at 1.9%. Splurged on a luxury SUV for the family last year (YOLO), but aiming to pay it off in the next 6 months. Outside of that, we owe $300K on our mortgage but have over $600K in equity.
Zero credit card debt. We pay it off twice a month and use points for free hotel stays.
Credit card:
Marriott Bonvoy Brilliant Amex. We put everything on it so we can stay at hotels using points.
I don’t like using multiple cards, because it complicates your financial situation. It’s easier to put everything on one and then pay it off monthly. This card has a high $595 annual fee but has lots of perks like dining credits and lounges. Plus Marriott Platinum status (which unfortunately means nothing now).
Budgeting:
I track every single transaction using an app called Copilot (Apple Editor’s Choice award winner). Helps me monitor our spending and financial situation closely.
We don’t follow a strict budget, but I have a good feel for expenses vs. cash flow. I know when to pull back.
Splurge:
Our family SUV. It’s something we use every day and makes road trips enjoyable. I get that vehicles are terrible investments, but why achieve any success if you can’t enjoy the fruits of your labor?
I’m a car guy. Having nice cars brings joy to my life simply because I enjoy driving them.
Money hack:
Don’t live in Charlotte! Surrounding suburbs are much more affordable. We live just over the border in South Carolina.
Restaurant pick:
My wife loves wine on tap at Napa on Providence. Also, Del Frisco’s never disappoints.
Investment strategy:
Max out 401(k) with company match, keep $50K cash as an emergency fund, and put any other excess cash into a brokerage account.
I gladly pay an advisory fee to have our brokerage and IRA accounts managed by someone. Guess I’m a sucker for the personal touch.
My tip: consolidate your investments with one firm to maximize the benefits and make managing it easier.
I have my brokerage, cash savings, and IRAs all with one bank. Also, use state 529 plans for college savings. We have about $50K in ours and auto-contribute $150 per kid per month.
Savings goal:
I aspire to own a boat and a mountain cabin. To get the boat, I need to be debt-free (exception being mortgage), which I’m not far off.
For the vacation cabin, I’d likely need to have my 30-year mortgage paid off or stay in our current house long-term and live below our means housing-wise.
Net worth:
$1.3M. Almost half of that, around $600K, is home equity. We got lucky buying low in 2015 in a growing area. Rest is in 401(k), IRA, brokerage, emergency fund, and 529s.
Retirement:
Always aimed to retire early at 55. Probably need $5M. I’d like investment income to cover my living expenses.
Rich in Charlotte:
$5M net worth. There are people in Charlotte that look wealthy, but are highly leveraged with debt.
On your mind:
Avoiding lifestyle creep. And staying grounded when you’ve been fortunate enough to taste the finer things in life — understanding that you don’t “need” all that to be happy.
Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate
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