How This Psychologist Spends Her $110K Salary | Honest Accounts | Glamour

We asked a psychologist living in New Jersey with a $110K salary to break down everything she spends money on in a month. How much does she spend on housing, utilities, and subscriptions? What's the most expensive thing she ever bought?
Director: Arielle Neblett
Associate Producer: Lisa Lovalgio
Director of Photography: Brad Wickham
Audio: Sean Paulsen
Cam Op: Christopher Alfonso
Production Manager: Marilee Hodge
Editors: Andy Bond and Paul Teal
Assistant Editor: Andy Morell
Post Production Supervisor: Christian Olguin
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[@emilye.6527]

I'm happy you guys are finally back to these videos.We want to see more please.

[@lindawang5649]

I love how she closed it with the fact that savings is not a priority for her right now. I got secondhand anxiety just watching this. She’s 45, and her money mentality was the same mine was when I was 21, except I graduated school with no debt and didn’t have kids.

[@exocodm9327]

To be fair she could pay off the debt in 10 years with about 3k a month and she’ll just have to budget 1.5k a month

[@lindawang5649]

Yeah but she’s 45. She’d then be 55 with no savings or money for retirement.

[@exocodm9327]

@@lindawang5649 Unfortunately yeah but to be fair this wasnt the worst i've seen someone use their money on this channel. There was someone making 15k who spent way more than this lady.

[@cookiimonst3r]

She should be saving money for her kids. This is partly the reason for the wealth gap between Black folks and White. My own family refuses to invest in their kids

[@lindawang5649]

@@cookiimonst3r while I do agree she should be saving money for her kids, I think making generalizations and stereotyping races is unnecessary. The wealth gap is due to systemic racism, not due to individual decisions.

[@nicolesmith9140]

This was entertaining (her personality) and hard to watch (her finances) 🤣.

[@parisjoy7875]

That’s me in a nutshell 😅

[@TheGoodylady]

Please do public service and enter an income based asap, I dedicated 10 years to public service and just had $ 278,000 forgiven . I strongly recommend.

[@sabrinatatalias4277]

what was your avg salary during those 10 years roughly vs what you could have made elsewhere

[@mariacruz-iz6ux]

private and public loans, or only public??

[@sher29bear]

It can't have been easy sharing your finances with the whole internet, and it's very easy to sit on the other side of the screen and judge! Thank you for sharing so open and honestly, I hope that you're able to move into a fairer repayment/loan forgiveness situation and are able to build a safety net for yourself and your family

[@avril14thlove]

Girllllll oh my goodness. The lack of urgency around tackling your debt is really concerning. I don't mean to be a negative Nancy but this woman is in a dire financial state and doesn't seem to see that. Between the minimal savings and nearly HALF A MILLION dollars of student loan debt, I really worry for her kids. I'm sure on some level she's checked out to cope with where she's at, but she doesn't only have herself to worry about. She has a fair amount of disposable income to throw at the debt, and should be putting in a minimum of 10% of her salary to a 401k or Roth. Please help yourself!! The interest on those loans will only continue to skyrocket.

[@Annie-ij7ym]

I agree .

[@supreme_zeeyus]

Pin this!!

[@SharonHF]

Agreed. She has less then 1 month’s income in her retirement, and no rainy day fund..while making 6-figures. She seemed way too unconcerned about those loans, and if she were to move to the public sector to get forgiveness on them how she was talking about, her income will take a hit i’m sure she’s not prepared to handle either.

[@tasneemahmed5821]

And the way she said she's paying off $37 in portions cause "she learned it in business school". Girl you have bigger things to be worrying about

[@FunandBudget]

For me it was the lack of urgency in saving up some money - like $4K a month leftover and she said she keeps it in her checking so that she can just spend whatever she wants when she wants (uh...that's what I heard...LoL)

[@melz4644]

I love her 🤣 “where’s my bread??”

[@lidyasolomon5557]

Yo I want to be a psychologist, but not that way. I have a bachelor’s, and I’m 30k in debt. My plan is not to exceed $100k in debt for my PhD.

[@nllee7051]

I got a masters and got in so much debt and in my career and job you don't need a masters to move up. Having that student loan debt hurts alot even when I was trying to rent my own apt. Everyone above me has a bachelor's and just have the job experience. Higher degrees don't correlate to more pay and I feel I was sold that lie. I just wanted to give you my 2 cents since I'm in the STEM field.

[@lidyasolomon5557]

@@nllee7051 thank you and what specific field in stem?

[@wl3062]

Unlike masters where students take out loans to pay for tuition, if you get accepted into PhD programs, your tuition is paid for and you get a $20k-$30k/year stipend.

[@lidyasolomon5557]

@@wl3062 yup FACTSS

[@nllee7051]

@@lidyasolomon5557 sry just saw this today. I'm an engr and it bottle necks at the top alot. So it gets hard to get pay increases as you go up. So the only option is to job hop but in this Industry job hopping can also black ball you with certain companies cuz it means you don't stay around long enuff and they can prolly get someone cheaper than what it would cost them to train and retain you. So I feel like it's pretty much not worth it especially if I know for a fact I have coworkers that earn more than me and are not engrs....I'm also not asking for a mountain of money but salary that makes sense for the cost of living. I've been in this industry for 8 yrs and job hopped 4 times.

[@shannonhutchinson4084]

I notice that many of these purchases are retail self care. I would suggest a real look at how much that adds up to. This could add up to a fruitful retirement, especially when you are already late in establishing a nest egg. Note to all, therapist have issue too they refuse to look at. No one is perfect.

[@ritakay7113]

I think this person will be fine, but in terms of generational wealth, I’m not sure how much they’ll be able to leave their family if they don’t prioritize their debt.

[@careygrubb6649]

I don't think many people think about generational wealth. I didn't start thinking about it until recently.. It's a good point! 👍

[@huanita]

The lack of safety net with her budgeting scares me 🤯 I hope she gets to tackle her debt soon

[@tenningale]

45, basically no savings, almost $400,000 in debt... Realistically, it's going to probably take her about a decade to get her net worth out of the negative range if she commits to paying off the loan. Interest is brutal when it kicks back in, she has to try to get her income up, and then retirement will be right around the corner, still with no savings.

[@lindawang5649]

She makes six figures. Her income is fine.

[@tenningale]

@@lindawang5649 The problem is the ratios. At her income, she should be able to save $3,000/mo to put on the loans (maybe a bit more if she cuts back). $3,000 a month into $371,000 is more than 10 years. Then she's 55, still with no savings. That's really bad. To melt the debt faster she's going to need to make more money.

[@softwareblade9550]

$108k in income is definitely low for someone $371k in debt. If she could gross $200k, she’d net about $137k in NJ. If she lives off $4k each month, that could be $90k on the loans, or just over 4 years. Would make a big difference for her financial future if she could get her salary up.

[@bloodmusthaveblood]

@@lindawang5649 nothing about her situation is fine

[@Crystal_w]

Love that you chose an educated, black woman, who is a single mom, and has an amazing personality!

[@pg9566]

She's making terrible money choices though

[@taiynam]

@@pg9566 definitely

[@jasminecontreras7341]

An educated black single mom that is terrible with her money. Not a good role model for us and most of us just got secondhand embarrassment/worry for her

[@Reticence9zen924]

She doesn't have credit card debt though - it's usually a wiser way to live.

[@Nooneknows59]

The terrible part of this is seeing her getting a Doctoral degree, cause I’m sure that’s the bulk of her debt, but in the psych clinical sector, it doesn’t add much to salary.

[@_almondjoy]

I really love this segment! Keep them coming! Helps me to keep my finances in perspective.

[@aletsiaha]

@Glamour - I love this type of videos, please bing them back on more regular basis :)

[@vivathecat7052]

Sis! You talked a lot about self-care in this video but you are neglecting one of the most basic necessities of self-care. You worked so hard to give it away on crap. Please re-think this, you're only 45 there is still time to course correct.

[@theoriginalr7310]

Yes this! She is doing self sabotage, not self care!

[@MsREILife]

Omg I love her...she is too funny 😁 she said: "sir , there are too many apps for you to be late."

[@kitkatbar37]

she wastes a lot of money (eating out, expensive outfits and beauty products) while not putting a cent towards her debt HOPING it gets forgiven. 10k getting forgiven is not going to help her.

[@taiynam]

4000 In savings? Is this real

[@Carla-om3vt]

I had twice as much saved up when I was 20. This is crazy😂💀

[@taiynam]

@@Carla-om3vt No fr. She needs a financial advisor

[@OzWiingsLLC]

Now this is honest...i loved it!!!

[@sabrinatatalias4277]

she makes more than enough to pay off her loans fairly quickly then you all think. the fact she's barely investing as well is worrisome for her age.

[@jadewalker1355]

Not really. 110k after taxes is like 70-75k. She still has living expenses, so even if she aggressive with her debt repayment, she can only pay maybe 35-40k a year with her current salary. She needs some side hustles.

[@HT-pl8du]

And she has kids! If she has 300k debt, how much are her multiple children's going to be?

[@prabhsangha1639]

I love her personality 😂

[@Mchelle723]

I love these soo much

[@digitalarteffects]

Love these videos!

[@sumanbhave6441]

People don't have financial problems, they have priority problem.

[@cyankirkpatrick5194]

You're being honest with us thank you. You're going to get a lot of backlash but this is what you know, everyone has different views on how to budgeting, but I hope that you can figure out what you need to do.

[@CassieAngelica]

Solid content! Very useful!

[@iwannaquit6200]

ayyooo!!! A fellow Bayonnite!!!! yasss sis! Jersey represent!!!

[@deetee609]

this is crazy!

[@VanessaSilva-mk1of]

more states please !! art jobs too :) love these vids

[@jwho4273]

If you already have an established practice in the private sector I don't see how beneficial it'd be to go back to public for a paycut to POSSIBLY qualify for loan forgiveness. Also wouldn't an income based payment method be more expensive??? She needs to focus more on paying it off and thinking of retirement especially at 45

[@HT-pl8du]

Especially with 2 kids who prob need to go to college soon!

[@jasminej.524]

tbh I totally forgot this was about personal finance! This echoed my childhood--- growing up eating Cinnamon Toast Crunch and Pop Tarts on the go and washing it down with Sunny D! And yes, my mom made me and my sister dress alike... cringy at the time but now I miss it 😊

[@Useyournoggin32]

It’s always those telling others that they have problems who are the real problematic ones themselves.

[@coqey]

this is why I don't really want children. They cost so much, especially to have 2 of them. Imagine making 100k and being single with no kids? Awesome.

[@randomsarcasm2022]

Thank you for sharing! Good gracious at that student loan amount! Do you qualify for PSLF? Can you get rid of the car and use public transportation? A healthier diet would cut down on your food budget. Get rid of Amazon.

[@ArianneMcD]

I love her personality 😅

[@alessiopasquali4239]

I live in Bayonne. I wish I knew who she was and where she is.

[@Pravin_Yeshua_BTC]

She was fun to listen to. ☺️

[@anahansen8909]

As a therapist in training... this gives me a high-level anxiety to see. Not prioritizing a retirement or emergency fund, especially with a family would, for me, be terrifying.

[@shallnoTfear]

She seems like a fun person 😂

[@shaniseb4]

Earning six figures is a luxury and a privilege that one cannot afford to take for granted with that being said here's some helpful and very doable advice... cut down on these two items immediately (utility costs and subscriptions) try shaving off at least 25% in utilities and 50% or more in subscriptions... (the price you're paying is astronomical wasteful and unnecessary)... please do yourself and your child a favor and tuck away $2000-$3000 or more minimum towards your savings each month build an emergency fund and shop less.... I was cringing the entire video and I suggest getting those student loans cut by 50% or more and meeting with a financial advisor... money management and financial literacy has got to be talked about especially in the black and brown communities... this video was so insightful and made me want to challenge myself more and take full ownership accountability and reevaluate some of my own decisions surrounding money management monthly expenses and future goals... best of luck on your financial journey

[@markjcraft]

her charisma reminds me of wendy williams

[@yellag3096]

Black women being this educated and in debt this much is not a wise money decision. Choose a field if going that route that pays well this is crazy we have to stop thinking in this manner I see far too many of us falling in these education loan traps

[@TheGoodylady]

How does one get featured on this show ??

[@dalagamble3164]

That student loan debt 😬. For me I hate owing I’ll be trying my best to erase that.

[@careygrubb6649]

The fact that she said "my children love processed food" and chuckles.. In my opinion, it kind of discredits her as a Psychologist. Nutrition is an important tool in in helping heal or elevate your brain. As a psych student it makes me cringe..

[@froggydoggy1338]

She needs to get a grip on her finances, she's wasting money and making such poor choices. A lot of people don't make that amount of money and she's blowing opportunity. Poor Mindset!

[@unuks9731]

Guys she's living the american dream

[@cookiimonst3r]

2 Masters and 1 Doc and only making 110k??? I make 115k 3 years into my career in tech. Switch lady!

[@Saltysarah32]

That’s soooo much debt to just make 110k. I make more money and didn’t have that much that debt. I did make it a purpose to pay 50K off. I didn’t want that holding me down.

[@dynamichunter843]

I commented a lot on graham’s video on this, but maybe she should get a refund on that “business school”. And she wants loan forgiveness. Lmao

[@snicholson8884]

congrats to her. but. please stop throwing away black wealth.

[@thereserafols3066]

woah im very early

[@Tw0HOT4Tv]

This is terrible 😞

[@chantalintonte7610]

I need to hear @graham Stephan take on this

[@Fashion_With_Tamyia]

I love her personality, bring her back for something, idk what…just something 🤎🤎🙌🏽