Introducing: What We Spend

Summary

The Lazy Genius Podcast: "Introducing: What We Spend"

Host: Kendra Adachi, The Lazy Genius
Episode Release Date: April 16, 2025
Episode Title: Introducing: What We Spend

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Episode Overview

In the episode titled "Introducing: What We Spend," Kendra Adachi, known as The Lazy Genius, delves into the concept of financial transparency and its impact on our lives. This episode serves as a preview for the new podcast "What We Spend," hosted by Courtney Harrell. Through intimate conversations, the podcast aims to explore the personal and universal aspects of money management by documenting individuals' weekly financial habits.

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Introducing "What We Spend"

Kendra begins by outlining the premise of "What We Spend," emphasizing the societal curiosity and sometimes nosiness surrounding others' financial lives.

Courtney Harrell (00:59):
"You know how you always want to know about everyone else's money? You do, right?... 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."

The podcast promises to bring listeners closer to real-life financial experiences by following individuals for a week, capturing every financial decision and the emotions tied to them. Courtney Harrell explains that each episode will feature a new person from diverse backgrounds, showcasing how money influences their daily lives.

Courtney Harrell (02:55):
"How much school debt do you have?"

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Profile: Kelly and Ben

To illustrate the concept, Kendra introduces Kelly and Ben, a couple navigating the complexities of student debt and the aspiration to balance personal goals such as homeownership and starting a family.

Background:

• Kelly:

  • Age: Turning 32
  • Occupation: Director of Client Experience at a medical spa and online mental wellness coach
  • Debt: Initially $300,000 in student loans, reduced to $150,000 with family assistance
  • Income: Approximately $50,000 annually

• Ben:

  • Age: 32
  • Location: Salt Lake City, Utah
  • Occupation: Engineer for a software company
  • Debt: Part of the couple's total student loans amounting to $202,728
  • Income: Approximately $78,000 annually

Relocation and Aspirations: The couple recently relocated from Tennessee to Salt Lake City, reflecting their pursuit of better career opportunities and quality of life.

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Financial Challenges and Debt

Kelly and Ben openly discuss their significant student loan debt, a common challenge among millennials and Gen Z individuals striving for higher education and stable careers.

Kelly (02:55 - 03:39):
"I have 150,000. I had more... It was like $150,000 payment and just being like, holy sh*T... it feels like I have still $150,000 of debt."

The conversation highlights the psychological burden of debt, symbolizing financial constraints that extend beyond mere numbers, impacting their future plans and emotional well-being.

Ben (04:51):
"I would describe it as all consuming... it feels like that. And I try really hard to, like, be in control, like, maintain my control."

Ben metaphorically refers to money woes as a "monkey on their back," illustrating the persistent and intrusive nature of financial stress.

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Tracking Expenses and Emotional Impact

Kelly and Ben detail their meticulous approach to managing expenses through budgeting and tracking, revealing both the practical and emotional dimensions of financial planning.

Expense Breakdown:

• Rent and Utilities: $2,800/month
• Gym Memberships: $108/month
• Car Insurance: $254/month
• Gas: $125/month
• Pet Insurance: $76/month
• Physical Therapy: $250/month
• Groceries: $600/month
• Medications and Supplements: $650/month
• Streaming Platforms and Subscriptions: Various amounts totaling around $76/month
• Hair Care: $40/month

Kelly (07:22 - 07:51):
"I put $40 next to my hair... treat myself sometimes and have my hair washed."

The couple's total regular expenses amount to approximately $4,800 monthly, excluding debt payments. Their detailed budgeting showcases the challenges of balancing essential and discretionary spending while managing substantial debt.

Emotional Responses: Tracking finances brings a mix of anxiety and curiosity. Ben expresses nervousness about potentially uncovering financial irresponsibility, while Kelly reveals a sense of being financially trapped despite her career satisfaction.

Ben (10:28):
"I'm feeling nervous because maybe I will just realize through tracking every expense that I'm actually just a dumb, dumb..."

Kelly (10:02 - 10:14):
"Ultimately, I don't regret anything because I am who I am and I'm happy, but I'm financially trapped."

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Revelations and Future Implications

As the episode progresses, Kendra emphasizes the importance of understanding personal finances beyond mere numbers. The narrative underscores that money management is deeply intertwined with individual emotions, aspirations, and societal pressures.

Kendra concludes by inviting listeners to follow Kelly and Ben's journey in "What We Spend," promising insights into how daily financial decisions shape their lives and identities.

Host Kendra (10:56):
"To hear how Kelly's spending for the week unfolded and what revelations she had as a result of it. Search for what we spend. Wherever you get your podcasts."

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Key Takeaways

• Financial Transparency: Encouraging open discussions about money to demystify and lessen the stigma around financial struggles.

• Emotional Connection: Recognizing that finances are not just about numbers but also about personal values, stress, and life goals.

• Practical Budgeting: Highlighting the necessity of detailed budgeting in managing expenses and debt effectively.

• Personal Stories: Showcasing individual experiences to create relatable and educational content for listeners navigating similar financial landscapes.

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This episode sets the stage for "What We Spend," promising a blend of personal storytelling and practical financial insights. By following individuals like Kelly and Ben, listeners are invited to reflect on their own financial habits and the underlying emotions that drive them.

Transcript

[Host]

Hey, everyone. On this podcast, we have thoughtful conversations about identifying the things that matter in our lives and the things that don't. Today, I'm here to share a preview of what We Spend, a new podcast that explores a uniquely personal but universally relatable topic that matters in all of our lives. Money. 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 share the ways they make money, the ways they spend money, and all the thoughts and emotions they have along the way. The conversations are intimate, intentional, and often help uncover what matters most and what doesn't within each person's unique set of circumstances. As you enjoy this preview, be sure to search for the full episode of 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 Hirill, 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 sh T. 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.

[Ben]

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.

[Ben]

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?

[Ben]

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.

[Courtney Harrell]

Yeah.

[Ben]

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.

[Ben]

But it's kind of this tug of war.

[Courtney Harrell]

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

[Ben]

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.

[Ben]

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.

[Ben]

Gas, 125.

[Courtney Harrell]

Do you have a car payment?

[Ben]

No, we just buy used cars.

[Courtney Harrell]

Nice.

[Ben]

Ben's car. Basically the. 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?

[Ben]

Yeah, who needs that?

[Courtney Harrell]

It's a convertible phone payment. 75. Pet insurance, 76. And physical therapy for 250. It helps with Kelly's chronic back pain and osteoarthritis.

[Ben]

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 include 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.

[Ben]

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 streaming platforms. 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. Hair.

[Kelly]

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?

[Ben]

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

[Courtney Harrell]

How much debt do you have?

[Ben]

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

[Courtney Harrell]

Where did you go to school?

[Ben]

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, 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?

[Ben]

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. Yeah.

[Kelly]

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?

[Ben]

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.

[Host]

To hear how Kelly's spending for the week unfolded and what revelations she had as a result of it. Search for what we spend. Wherever you get your podcasts.