Yes, I grew up thinking I would go to college and went to a private high school where everyone went to college afterwards. Both of my parents went to college and one of my grandparents did (but it had to be a minister, so a very different type of college from where I ended up!). I went to a public university when it was cheap and my parents paid for it out of pocket. I always worked, but that was really spending money as my parents paid my rent. I also have a master’s degree from a public university that I paid for myself from my pocket-I was a part-time student and took seven years to graduate. Until my last semester, I had a two -year job and full -time job and took three postgraduate courses. Looking back, I don’t know how I did!
Growing up, what kind of conversations did you have for the money? Do your parents/guardians train you for finances?
We didn’t have many money conversations. As I said in my previous calendar, my dad had a good salary. My mom stayed home until I was in high school (she returned to college to become Paralegal). We had a big house and went to the private school, but we didn’t go on an expensive vacation and we rarely ate. I think it was just normal for the 1970s/1980. I used to help my mom write the checks for our monthly accounts. I had licking the stamps. There was a time when I was in high school when some investment my parents made went bad and I know they owe taxes. I remember my father is upset, but I don’t remember it lasts long.
What was your first job and why did you get it?
Babysitting on 12. My mom made me. Then I had a full -time job in the summer I was 16 years old and then immersed in the (non) lucrative ice cream world. I used my money to pay for gas and clothes and snacks and so on. By the time I left for college I felt like I had stored a lot. It was probably $ 1,500!
Are you worried about the money that is growing up?
No.
Are you worried about money now?
Yes. I am worried about our credit card debt. My husband returned to a two -year school school program four years ago. We created a counseling business, so it would have at least some income, but we made some debt only take care of the normal things. Taking this, we were able to pay for his degree, send our son to a curriculum abroad last year and hiring a college consultant out of pocket. Our credit card debt is still very high, but we are working on it. I am also worried about the price of college (coming so soon – eek!). I’m not going to let my son end up with huge debt of college. We agreed that he would pay $ 5,000 a year in college. This can be a loan or money earned from jobs on campus. He probably won’t work his first year, but it’s a savings and already has something like $ 3,000 in his savings account (and already has a CD account!). The rest will be paid through our college savings and cash and some help from my parents-they are able to sell their long-term home and have agreed to put $ 15,000 a year for my son training. I am beyond grateful.
At what age became financially responsible for yourself and have a financial security net?
I started to support myself when I graduated from college at 22. But I always know that my parents would be there for me if I had a big financial issue. They have generous with birthday gifts and Christmas over the years – a few hundred dollars here and there.
Have you ever received passive or hereditary income? If yes, explain.
Yes, my grandmother gave me a $ 10,000 legacy before she died and my parents gave me $ 10,000 so I could buy my first property (a tiny apartment in Manhattan) when I was about 30.
