Yes, I never really questioned it. I was always a good student, loved learning, and am a bit of an ambitious perfectionist so it was always something I wanted to do. I went to a public university out of state that my parents paid for, and am extremely lucky to be debt-free, even though I have some guilt about my parents taking that on. I knew graduate school would be on my own dime, but I’m extremely lucky to have gotten into a fully funded program, so I will (hopefully) be debt-free when I graduate.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
I think they tried. The recession was hard on my family, and though we didn’t talk about money, things seemed wobbly. My grandmother always emphasized the importance of saving and being frugal where you can, and I took a lot of that to heart in how I live my life. I see what savings and a thrift mindset have done for her ability to live well in her old age, and I hope for the same for myself. Unfortunately, financial policy in the U.S. has made bootstrapping essentially impossible in the 21st century, thanks to a regressive taxation system and years of trickle down economic theory that has yet (in my opinion) to come to fruition for the disappearing middle class, let alone those living on lower incomes.
What was your first job and why did you get it?
I started babysitting when I was around 13 for kids in the neighborhood and eventually around town. Over the summers and through college I worked in retail or in restaurants as a server, babysitting here and there until I was around 25, too. I got these jobs to support purchasing fun things like eating out or necessities like gas money.
Did you worry about money growing up?
Yes. I was only 14 in 2008 but it was clear my family was in trouble. I tried not to ask for much but accepted the fact my parents’ divorce agreement stated they would split my college expenses and took the money to pay for school.
Do you worry about money now?
Yes and no. My scholarship for my program is truly a blessing that saved me from years of debt. That being said, I have taken a massive pay cut even with my stipend and see I’m not keeping up with friends who didn’t go to school and kept working instead. I also know my pay potential is severely hampered by staying in the public sector, but I really care about what I do. Ever since I graduated undergrad, I’ve kept meticulous financial records and stuck to a budget.
At what age did you become financially responsible for yourself and do you have a financial safety net?
At 22, when I graduated undergrad. I can always count on my mom to help me out if something happened though. For example, I had to have unplanned surgery in 2018, and she covered my out-of-pocket expenses. She’ll still randomly Venmo me $20 sometimes with notes like “lunch out my treat” or something, which is so incredibly kind.
Do you or have you ever received passive or inherited income? If yes, please explain.
My father gave me a Roth IRA account worth $7,000 when I was 18. I continue to put $100 into that account monthly. I have no passive or inherited income that I can actively use at my current, pre-retirement age.
