Introducing: What We Spend

Summary

Summary of "HISTORY This Week" Episode: Introducing: What We Spend

Podcast Title: HISTORY This Week
Host/Author: The HISTORY® Channel | Back Pocket Studios
Episode Title: Introducing: What We Spend
Release Date: April 17, 2025

---

Introduction to "What We Spend"

In the premiere episode of "HISTORY This Week," host Alana sets the stage by emphasizing the significance of understanding the multifaceted factors—social, cultural, intellectual, and emotional—that influence human actions and shape history. She introduces a new podcast series, "What We Spend," as a relevant extension of this exploration, focusing specifically on individuals' relationships with money.

Notable Quote:

"History is important because it gives us an understanding into the social, cultural, intellectual, and emotional circumstances that helped shape people's actions and ultimately how history is written." — Alana [00:02]

Concept of "What We Spend"

Courtney Harrell takes over to elaborate on the concept behind "What We Spend." She discusses the natural human curiosity about others' financial lives, from everyday purchases to significant expenditures like vacations or luxury items. Courtney believes that openly discussing finances can demystify money management and provide deeper insights into personal and societal behaviors.

Notable Quotes:

"We are going to go somewhere that we almost never get to go deep into the heart of someone else's finances." — Courtney Harrell [01:49]

"At the end of the day, money is always about more than your balance." — Courtney Harrell [05:27]

Each episode of "What We Spend" will feature a new individual from across the United States, documenting a full week of their financial activities. Participants will provide daily audio diaries detailing their income sources, spending habits, financial worries, and the emotions tied to their financial decisions. The goal is to offer listeners a unique perspective on how personal finances influence daily life and broader life goals.

Spotlight on Kelly's Financial Journey

The episode highlights Kelly, a 32-year-old resident of Salt Lake City, as the first participant whose financial story is explored in-depth.

Kelly's Background

Kelly is representative of the 42.8 million Americans grappling with student loan debt. She and her husband, Ben, recently relocated from Tennessee to Salt Lake City. Ben works as an engineer earning approximately $78,000 annually, while Kelly serves as the director of client experience at a medical spa and operates as an online mental wellness coach, bringing in about $50,000 annually before taxes and health insurance. Their combined income is just below the average for married couples in Salt Lake City.

Notable Quotes:

"I think that's good. I think we should be talking about money more and all the ways, big and small, that it impacts our lives." — Courtney Harrell [02:15]

"I have 150,000. I had more. I had 300,000 after my master's... It feels like 50% better. And it still feels like I have still $150,000 of debt." — Kelly [03:04]

Kelly's Relationship with Money

Kelly describes her relationship with money as "all-consuming," likening it to having a "monkey on their back." This constant presence creates a persistent struggle to maintain control over her finances while dealing with the emotional weight of debt.

Notable Quotes:

"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? Yeah, because you just can't get away from it." — Kelly [04:59]

"It's kind of this tug of war." — Kelly [05:22]

Managing Expenses

Kelly employs a disciplined approach to managing her finances, using a detailed spreadsheet to track her monthly expenses. She allocates funds across various categories, ensuring that each expense is accounted for meticulously.

Monthly Expenses Breakdown:

• Rent and Utilities: $2,800
• Gym Memberships: $108
• Car Insurance: $254
• Gas: $125
• Phone Payments: $75
• Pet Insurance: $76
• Physical Therapy: $250 (for chronic back pain and osteoarthritis)
• Groceries: $600
• Medications and Supplements: $650
• Subscriptions: $28
• Hair Care: $40

Kelly and Ben avoid car payments by purchasing used cars, though this sometimes results in maintenance issues, as seen with Ben's convertible.

Notable Quotes:

"I put 600 a month for our groceries. And I mean, that includes like toiletries and stuff too." — Kelly [06:37]

"And it's like the gift to me to have somebody else wash my hair every once in a while." — Kelly [07:30]

Educational Expenses and Debt

Kelly pursued higher education at Belmont University in Nashville, Tennessee, accruing significant debt in the process. Her undergraduate and master's degrees in mental health counseling resulted in a total debt of $300,000, which was partially alleviated when her parents used their inheritance to pay off $150,000 of her private loans.

Notable Quotes:

"I thought I was supposed to because I was told that, you know, this is... This is part of, like, the dream or the lie that was sold to my generation..." — Kelly [08:26]

"I didn't think about [how to pay off tuition]. I had no clue what I was doing." — Kelly [09:28]

The Emotional Toll of Debt

Kelly candidly shares the emotional burden of her debt, expressing feelings of being "financially trapped" despite her career fulfillment and personal happiness. She reflects on the societal pressures that drove her to pursue higher education without a clear financial plan, highlighting the disconnect between educational costs and potential earnings in her field.

Notable Quotes:

"Ultimately, I don't regret anything because I am who I am and I'm happy, but I'm financially trapped." — Kelly [09:28]

"Maybe I will just realize through tracking every expense that I'm actually just a dumb, dumb. And I'm very irresponsible and this is all my fault. But I'm feeling curious." — Kelly [10:36]

Kelly's Week of Financial Tracking

In this introductory episode, Kelly agrees to document her financial activities over a week, providing an unfiltered look into her spending habits and the emotions associated with each transaction. Despite her nervousness and fear of self-judgment, Kelly expresses curiosity about what this tracking will reveal about her financial behavior.

Notable Quotes:

"I'm feeling nervous because maybe I will just realize through tracking every expense that I'm actually just a dumb, dumb... But I'm feeling curious to see what comes of it." — Kelly [10:36]

Courtney assures Kelly that she will support her through this process, setting the stage for an in-depth exploration of Kelly's financial life in future episodes.

Conclusion

The episode successfully introduces the premise of "What We Spend," promising listeners a compelling series that delves into the intricate relationship individuals have with money. By featuring Kelly's story, the podcast highlights the challenges of managing debt, budgeting, and the emotional complexities tied to financial decisions. "What We Spend" aims to foster a greater understanding of personal finance dynamics, encouraging transparency and informed discussions about money.

For full episodes and more stories like Kelly's, listeners are encouraged to follow "What We Spend" on their preferred podcast platforms.

---

Stay Connected:

• Website: historythisweekpodcast.com
• Contact: [e-mail]

Production: "HISTORY This Week" is a production of Back Pocket Studios in partnership with the HISTORY Channel.

Transcript

[Alana]

Hey, history this week, listeners. Alana here. One of the many reasons history is important is that it gives us an understanding into the social, cultural, intellectual, and emotional circumstances that helped shaped people's actions and ultimately how history is written. But it's also important to examine those factors within our own lives, specifically as it relates to how we handle our money. That's why we'd like to present a new podcast we think you'll enjoy. It's called what We Spend. In each episode, host Courtney Harrell talks with one person as they document a full week of their lives and all the ways money has factored into it. People from all over the country and all walks of life examine and share the ways they make money, the ways they spend money, and all the thoughts and emotions they have along the way. These revealing conversations lend a unique perspective into people's relationship with money and may even help us understand how our own spending habits are shaped. As you enjoy this preview, be sure to search for what we spend on your favorite podcast platform.

[Courtney Harrell]

You know how you always want to know about everyone else's money? You do, right? Like, you'll see someone buying something you want or taking some amazing vacation, and you think, how can they afford that? Or you meet your friend's new girlfriend and she has some very impressive job and you think, how much money does she make? 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 and all the ways, big and small, that it impacts our lives. On this show, we are actually going to do that. We are going to go somewhere that we almost never get to go deep into the heart of someone else's finances. Here's how this is going to work. Each week, I'm going to introduce you to a new person from somewhere across the country, and they are going to tell us everything about their finances. How much they make, how much they want to make, what they worry about, or if they don't worry at all. And then for one week, we'll follow them through their daily routine. Every day they'll record an audio diary with all the nitty gritty details of how they're spending their money. I mean, the coffees, the groceries, the rent that's due, the car accident that suddenly upends everything. And after that, we'll talk about what the week brought up for them, what it's made them feel. Because whatever you're Buying or not buying or saving or spending. At the end of the day, money is always about more than your balance. I'm Courtney Harrel, and this is what we spend. How much school debt do you have?

[Kelly]

I have 150,000. I had more. I had 300,000 after my master's. I had a great uncle pass away who was an artist. And my parents chose with their share of that that they would help pay off all my private loans. And so that was a crazy night. We, like, I remember pressing submit on $150,000 payment and just being like, holy shit. And they were like, yay. Doesn't that feel so much better? And I was kind of like, it feels like 50% better. And it still feels like I have still $150,000 of debt.

[Courtney Harrell]

This is Kelly.

[Kelly]

I turn 32 in one week, and I live in Salt Lake City.

[Courtney Harrell]

Kelly is One of the 42.8 million Americans who has student loan debt. And also, like a lot of her generation, she wants to buy a home and have a baby, and she's trying to figure out if it's possible to make all that work. Kelly married her husband about a year ago, and eight months ago, the two of them moved from Tennessee to Salt Lake City, Utah. Ben is an engineer for a software company. Kelly's a director of client experience at a medical spa, and she's also an online mental wellness coach.

[Kelly]

I used to be a therapist, and for lots of reasons, I'm not right now, but I will always have therapy or coaching in my life, and I will probably go back to that full time at some point.

[Courtney Harrell]

Kelly is paid hourly, but she makes about 50k a year, and Ben makes about 78k. That's before taxes and health insurance together. That puts them just under the average income for married couple families in Salt Lake City. How would you describe your relationship with money consuming?

[Kelly]

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? Yeah, because you just can't get away from it. It's just clinging, and it's present with you all the time. It feels like that. And I try really hard to, like, be in control, like, maintain my control.

[Courtney Harrell]

Yeah.

[Kelly]

But it's kind of this tug of war.

[Courtney Harrell]

What do you do on a weekly basis to manage your expenses?

[Kelly]

On a Sunday, I will sit down and look at the budget. And I made a spreadsheet.

[Courtney Harrell]

Okay. Yeah. So walk me through your spreadsheet. So I would love to hear what all of your regular expenses are and like, what you kind of typically pay in each category.

[Kelly]

So rent and utilities. 2,800. That's pretty expensive for rent. Anytime I tell someone that, they're like, that's more than my mortgage. I'm like, yeah, I. I know. Please don't tell me what your mortgage is. I don't want to know.

[Courtney Harrell]

Two gym memberships. 108. Car insurance. 254.

[Kelly]

Gas. 125.

[Courtney Harrell]

Do you have a car payment?

[Kelly]

No, we just buy used cars.

[Courtney Harrell]

Nice.

[Kelly]

Ben's car. Basically the roof flies off, but, you know, just don't take it on the highway, you know, we don't have a car payment.

[Courtney Harrell]

Who needs a roof?

[Kelly]

Yeah, who needs that? It's a convertible.

[Courtney Harrell]

Phone payments. 75. Pet insurance. 76. And physical therapy for 250. It helps with Kelly's chronic back pain and osteoarthritis.

[Kelly]

And then groceries. This one sucks the most right now, and I really feel like everyone will understand. I put 600amonth for our groceries. And I mean, that includes like toiletries and stuff too.

[Courtney Harrell]

They have a Costco membership, but they pay that yearly fee with the cash back they get from their credit card.

[Kelly]

Medications and supplements. Like, Ben works out, so he has like this huge bag of protein powder that he gets from Costco. So Ben's is mostly workout supplements and just one medication. And mine is, I think, like four medications and like a probiotic and some multivitamins. Total for that is 650.

[Courtney Harrell]

Streaming platforms.

[Kelly]

No, we mooch off of our families.

[Courtney Harrell]

Some of the subscriptions are on them though. Dropbox for 12. Soundcloud for 6. Spotify for 10.

[Kelly]

Hair. My hair. 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. And it is like the gift to me to have somebody else wash my hair every once in a while. And isn't that shitty that like, even now, just reading my own budget, that it really is just my business? I still feel the need to justify, like I just need to treat myself sometimes and have my hair washed.

[Courtney Harrell]

What does that make your expenses altogether your regular expenses?

[Kelly]

Around 4,800amonth. But then you get to debt.

[Courtney Harrell]

How much debt do you have?

[Kelly]

A lot. If you are including my student loans, we have $202,728 in debt.

[Courtney Harrell]

Where did you go to school?

[Kelly]

I went to Belmont University in Nashville, Tennessee.

[Courtney Harrell]

Why did you go to school?

[Kelly]

I Thought I was supposed to because I was told that, you know, this is. This is the next step. And I think this is part of, like, the. 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, you know, and, like, you're going to be a deadbeat, and you're going to have to live with your parents, and you're probably going to use marijuana even, and, like, you're going to be a bad person, essentially, if you don't go to college.

[Courtney Harrell]

Kelly's degree cost about 40 grand a year. And after undergrad, Kelly went on to grad school at the same university. She has a master's in mental health counseling. But as Kelly sees it now, the math doesn't make much sense. I want to ask you something about that, and I mean, no judgment with this. How did you think you were going to pay off that amount of tuition? Or were you at the time, like, I know I can't pay this off. Like, how did you think about it then?

[Kelly]

Oh, no, it's a good question. I didn't. I did not think about it. I had no clue what I was doing. It wasn't like, I wonder how I'm going to pay this off when the, you know, average annual salary for a therapist is 40 to 60 thousand dollars a year. I was not thinking about that. I had no idea what I was doing, and I didn't really have anyone around me who was explaining what I was doing. Like, your prefrontal cortex is not developed when you are making those decisions. Ultimately, I don't regret anything because I am who I am and I'm happy, but I'm financially trapped.

[Courtney Harrell]

So that's Kelly. And this week, instead of just tracking it in her spreadsheet, she's going to tell us about every dollar she spends and every feeling that comes with it. How are you feeling about tracking your finances for a week?

[Kelly]

I'm feeling nervous because maybe I will just realize through tracking every expense that I'm actually just a dumb, dumb. And I'm very irresponsible and this is all my fault. But I'm feeling curious. I'm just curious to see what comes of it.

[Courtney Harrell]

Yeah, me too. I will check in with you on the other side of your week. Okay.

[Alana]

For full episodes, follow what We Spend An Odyssey Original Podcast. Wherever you get your podcasts.