Yes, college was always expected. I come from a family of immigrants and what my parents did was to put my brothers and myself for a future. I was a high -level student in a competitive public school and attended a top state university. My parents participated in a 529 design and my tuition tuition was preceded when I was about 8 years old, making it significantly cheap. I think they paid $ 22,000 for all four years, for which I was extremely grateful.
Growing up, what kind of conversations did you have for the money? Does your parents train you on finances?
We were middle class, but my parents were very simple, as they both grew up in their countries of origin. Ever since they arrived in the US, it has always been very important for them to have a big credit result, so they never lost a payment and saved every penny. We never ate and we only went on vacation maybe every other year. However, my mom was also able to retire early and I know they will also leave a comfortable legacy for my brother and myself.
What was your first job and why did you get it?
My first job was a host in a restaurant when I was 15. I mainly got the job to start earning pocket money for myself. I worked for a few years in the restaurant industry throughout high school and saved enough to buy a used car (old car of my parents), as well as a solo trip to Europe when I returned 18 and graduated. I was only in Canada and Mexico in the past.
Are you worried about the money that is growing up?
Little: We could afford all the basics, but we never had “fun” money. We used to shop for things that are sold or moved on, something I still carry with me to this day. There were many times in high school when I would like to have money to buy the modern things I saw other girls wearing. I remember once in elementary school, we went on a “Little House in Prairie” trip and had to buy these old -fashioned suits, but it was expensive and my mom couldn’t stand them. I tried to tell the teacher that I was going to skip the trip, but he insisted on it. We ended up finding something in good will, though it wasn’t the exact style. However, I am glad that my parents have set up a pond mentality to me now, because it helps me budget an average salary in an expensive city.
Are you worried about money now?
Yes, more now. Although I can split the expenses with my partner A., we are both victims of lifestyle from time to time. Most of our available income goes in the direction, eating out and traveling. I admit that I also have a small shopping problem (especially working in fashion!), Which has gathered a piece of credit card debt.
At what age became financially responsible for yourself and have a financial security net?
At 22, when I graduated. I worked part -time throughout the college, but my parents were still helping with some things like my car insurance. I don’t have a financial security net right now, which I will work for when I am paid for my credit cards. Technically, I could use 401 (k) in case of emergency, both A. and I have supportive parents who would help us if needed. But I prefer to be independent and have my own funds.
Have you ever received passive or hereditary income? If yes, explain.
Yes, last year my parents started my Roth IRA and contribute the maximum $ 7,000 each year, as I didn’t want to contribute beyond my 401 (k). This is partly a hobby of my mother, who has been playing with the Stock Exchange since he retired early. She likes to “play” with my retirement money, but she will give me any profits. Win-win.
