Campus Files Episode Summary: "Introducing: What We Spend"

In the episode titled "Introducing: What We Spend," Campus Files takes a compelling turn by unveiling a new Audacy original podcast focused on personal finances. Hosted by Courtney Harrell, this series delves into the intricate relationship individuals have with money, exploring how financial decisions shape daily lives. The episode serves as an introduction to the series by featuring Kelly, a 32-year-old resident of Salt Lake City grappling with substantial student loan debt.

Introducing "What We Spend"

Courtney Harrell sets the stage by addressing the ubiquitous curiosity surrounding others' financial lives. She states, “I think when it comes to money, even if you don't want to admit it, we're all a little nosy. But I don't know, I actually think that's good. I think we should be talking about money more” (00:55). The podcast's unique format involves following an individual for a week as they meticulously document their spending, revealing not just the numbers but the emotions tied to each financial decision.

Meet Kelly: A Glimpse into Financial Struggles

The preview prominently features Kelly, whose story highlights the pervasive issue of student loan debt. She candidly shares, “I have 150,000. I had more. I had 300,000 after my master's” (02:51). Kelly's debt stems from her pursuit of higher education at Belmont University, where she earned a master's in mental health counseling. Despite her efforts, the financial strain remains overwhelming: “Ultimately, I don't regret anything because I am who I am and I'm happy, but I'm financially trapped” (09:58).

Breaking Down the Budget

Kelly provides an insightful look into her monthly expenses, detailing a comprehensive spreadsheet that totals approximately $4,800 before debt payments. Her largest expense is rent and utilities at $2,800, followed by gym memberships, car insurance, and groceries, which she admits “sucks the most right now” (06:24). Notably, Kelly emphasizes the constant vigilance required to manage her finances: “Oh, I would describe it as all consuming. Yeah. The thing that keeps, like, coming to mind is, you know when someone has, like, an addiction or a struggle and they call it like, the monkey on their back” (04:46).

The Weight of Student Debt

Kelly reflects on the societal pressures that influenced her decision to pursue higher education, stating, “the dream or the lie that was sold to my generation was like, if you don't go to college, you're going to end up working at McDonald's” (08:16). She acknowledges the lack of foresight in managing her debt, admitting, “I did not think about it. I had no clue what I was doing” (09:15). This realization underscores the broader conversation about the accessibility and affordability of higher education in America.

Emotional Toll and Personal Reflection

Throughout the episode, Kelly opens up about the emotional toll of financial stress. When asked about tracking her finances for a week, she reveals her fears and curiosity: “I'm feeling nervous because maybe I will just realize through tracking every expense that I'm actually just a dum dum and I'm very irresponsible and this is all my fault, but I'm feeling curious” (10:24). This vulnerability highlights the intersection of financial health and mental well-being, a recurring theme in the podcast.

Looking Ahead

As the episode concludes, listeners are invited to follow Kelly's journey in the upcoming series. Margot teases, “To hear how Kelly's week of spending unfolded and the emotions that came with it. Search for what we spend. Wherever you get your podcasts” (10:53). This promise sets the stage for an in-depth exploration of personal finance, promising to shed light on the unseen struggles and triumphs that define individuals' financial landscapes.

Notable Quotes:

• Kelly on Money's Influence: “[...] I would describe it as all consuming. Yeah. The thing that keeps, like, coming to mind is, you know when someone has, like, an addiction or a struggle and they call it like, the monkey on their back” (04:46).

• Kelly on Treating Herself: “I put $40 next to my hair, and that's so I can spend that $40 and get my hair washed by somebody else one time every month. [...] I still feel the need to justify, like I just need to treat myself sometimes and have my hair washed” (07:17).

• Kelly on Educational Debt: “I did not think about it. I had no clue what I was doing. [...] Like, your prefrontal cortex is not developed when you are making those decisions” (09:15).

• Kelly on Financial Traps: “Ultimately, I don't regret anything because I am who I am and I'm happy, but I'm financially trapped” (09:58).

• Kelly on Tracking Finances: “I'm feeling nervous because maybe I will just realize through tracking every expense that I'm actually just a dum dum and I'm very irresponsible and this is all my fault, but I'm feeling curious” (10:24).

This episode of Campus Files not only introduces listeners to a new lens through which to view personal finances but also underscores the critical importance of financial literacy and transparency. Through Kelly's story, the podcast invites audiences to empathize with and understand the complex emotions tied to money management in contemporary America.