The Moth Podcast Summary: "Introducing: What We Spend"

Episode Title: Introducing: What We Spend
Release Date: April 23, 2025
Host: The Moth
Episode Focus: Kelly's struggle with outstanding student loan debt

Introduction to "What We Spend"

In this inaugural episode of "What We Spend," hosted by Courtney Harrell, The Moth delves into the often-taboo subject of personal finances. This new podcast series offers an intimate exploration of individuals' financial lives by documenting a full week of their monetary transactions, emotions, and challenges. By bringing transparency to how money influences daily decisions, "What We Spend" aims to foster open conversations about financial well-being.

Meet Kelly: Navigating Student Loan Debt

The episode spotlights Kelly, a 32-year-old from Salt Lake City, Utah, who embodies the financial struggles faced by millions of Americans burdened with student loan debt. Kelly recently married Ben, an engineer earning approximately $78,000 annually, while she herself makes around $50,000 as the Director of Client Experience at a medical spa and an online mental wellness coach.

Notable Quote:
"I have $150,000 [student loan debt]. I remember pressing submit on the payment and just being like, holy shit." — Kelly [03:42]

Despite receiving substantial financial support from her family—her parents covered half of her debt—Kelly still grapples with the remaining $150,000, which she describes as feeling only "50% better."

Living with Financial Constraints

Kelly and Ben's combined income places them just below the average for married couples in Salt Lake City. Their monthly expenses total approximately $4,800, not including debt repayments. These expenses include:

• Rent and Utilities: $2,800
• Gym Memberships: $108
• Car Insurance: $254
• Gas: $125
• Phone Payments: $75
• Pet Insurance: $76
• Physical Therapy: $250
• Groceries: $600
• Medications and Supplements: $650
• Streaming Services: $76
• Hair Care: $40
• Miscellaneous Subscriptions: Including Dropbox, SoundCloud, and Spotify

Notable Quote:
"It's kind of this tug of war." — Kelly [05:16]

Kelly describes her relationship with money as "all-consuming," likening the persistent stress to having "the monkey on their back." This constant mental burden affects her daily life, making financial planning both a necessity and a source of anxiety.

The Reality of Student Loan Debt

With a total debt of $202,728, primarily from her education at Belmont University and a master's in mental health counseling, Kelly reflects on the pressures that led her to incur such debt.

Notable Quote:
"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." — Kelly [08:23]

Kelly acknowledges that she did not anticipate the financial strain of her education, noting, "I didn't think about how I'm going to pay this off...your prefrontal cortex is not developed when you are making those decisions." Her honest admission highlights a generational issue where the push for higher education often overlooks the long-term financial implications.

Managing Finances: A Week in Kelly's Life

Each week on "What We Spend," participants track every dollar they spend to uncover deeper insights into their financial habits and emotions. Kelly approaches this task with a mix of nervousness and curiosity.

Notable Quote:
"I'm feeling nervous because maybe I will just realize...I'm very irresponsible and this is all my fault. But I'm feeling curious." — Kelly [10:30]

Her meticulous budgeting involves a detailed spreadsheet, where she categorizes every expense—from essential bills like rent and utilities to personal indulgences like hair care. This rigorous tracking aims to provide a clearer picture of her financial landscape and the emotional toll it takes.

Insights and Reflections

Kelly's journey underscores the complexity of managing finances amidst significant debt. Her experience reflects broader societal expectations around education and financial responsibility, highlighting the pervasive anxiety that money can induce.

Notable Quote:
"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." — Courtney Harrell [05:16]

Through Kelly's story, "What We Spend" emphasizes that money is not merely a numerical value but a constant presence influencing every aspect of life, from career choices to personal well-being.

Conclusion

In this premiere episode, The Moth successfully sets the stage for "What We Spend" by presenting a raw and relatable narrative of financial struggle. Kelly's honest portrayal of her debt and her proactive steps to understand her spending habits offers listeners a profound look into the emotional and practical challenges of managing personal finances. As the series progresses, it promises to continue unveiling the intricate ways money shapes our lives, fostering a more open and informed dialogue around financial wellness.

For more episodes and stories, follow "What We Spend" on your preferred podcast platform.