Yes, my siblings and I did well in school, so college was always seen as a natural next step. We were each expected to pay for one year of tuition and my parents would pay for the other three years, which was a good way to teach us to be cost-conscious while also giving us a lot of financial support. I paid off my student loans about four years after graduating. I also just recently received my master’s degree, which was paid for with a combination of savings, employer support and scholarships.
Growing up, what kind of money conversations did you have? Did your parents/guardians educate you about finances?
My parents were always very proud of the life they had created for our family with very little money. They started a business shortly after I was born, which took a lot longer than they expected to get there, let alone make money, so while their upbringing was mostly middle class, our family lived on very little. My parents taught us to appreciate free or cheap fun like hiking or camping, something I carry with me to this day. They were also very open to having conversations like what it meant to “keep up with the Joneses,” which helped me maintain a grounded perspective on money as I grew up.
What was your first job and why did you get it?
My first “unofficial” job was gardening and landscaping for family friends my freshman year in high school. I loved gardening and getting my hands dirty, so getting paid for it seemed like a bonus. Naturally, this led to my first “official” job during high school, which was at a retail garden center. It was one of the best jobs I’ve ever had — if I ever get to a place in life where I feel burned out and need a break from work, I’d probably try to find something like that again.
Were you worried about money growing up?
No — we always had what we needed. My parents have told my siblings and I a lot more over the years about how difficult their financial situation was during our childhoods, but they worked hard to make sure we never felt their stress.
Are you worried about money now?
No, but it took a lot of work to get here. I live in a city with a high cost of living and have had to keep a close eye on my budget since I moved here almost 10 years ago. At first it was mostly because he had a low starting salary as an entry-level employee. As I started making more money, I made the leap to living in my own studio apartment, which came with a new set of expenses. More recently, I’ve had to watch carefully as I’ve saved and paid for school and my wedding. Despite life’s developments, I’ve continued to live very frugally — I don’t order takeout, buy all my clothes second-hand, lived without a car for many years, etc. I was worried that there would come a point when I’d get tired of being so money conscious and eventually want more. It took several years of perspective for me to realize that since I’m never going to be a billionaire, there will always be some choice or compromise about how you want to use money to maximize your happiness at any given time in your life. I was also given the perspective that the choices I make about money are largely about comfort and lifestyle rather than survival. Because of my privileged upbringing, the safety net that my family continues to provide me through their neighborhood, and my own financial situation, it is unlikely that I will find myself in a situation where I cannot meet my basic needs of food, shelter. and security. This perspective has allowed me to quell any worries I once had about money and stay grounded in how little money stress I might feel matters.
At what age did you become financially responsible for yourself and have a financial safety net?
I became financially responsible for myself after graduating from undergrad at 22. While I lived at my parents’ house for a few months rent-free, I eventually chose to move out and have been paying all my own bills ever since. I live within an hour’s drive of my parents (as well as many other relatives), so in many ways their proximity serves as a financial safety net, as I could always stay at their place rent-free if I needed to.
Do you have or have you ever received passive or inherited income? If so, please explain.
As mentioned above, my parents paid for three out of four years of my undergraduate education. They also bought me my first car, which I drove to summer internships and my first years of work after college.
