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