I think the expectation was there, but my parents should never push me in that direction. I always care about my academic success, and my parents were quite controversial. My mom just graduated from high school and did not continue training and my dad went to the local college for Undergrad and has no postgraduate diplomas. I went to a specialized magnet high school, got a lot of APS and did a lot of extracurricular and ended up going to a high -ranking school for my undergraduate diploma. I think my parents are proud, but also a little like, “What did you do?” I was able to pay it with a combination of federal aid, federal loans and a 529 plan by my parents. More about this below.
Growing up, what kind of conversations did you have for the money? Does your parents train you on finances?
My dad is supposed to be good enough for his money, though he has not shared absolutely any information with my brother and me. I didn’t know about saving retirement, investing, how much to save/spend, nothing. I think just said not to spend it all at the same time, lol. Meanwhile, my mom recently told me that she doesn’t even know how much her paycheck is. I was like, awesome! We grew up “middle” middle class and my dad was very simple. More, Stingy. We never had benefits, only birthdays and holiday money from relatives we would use when we wanted something. My parents often make things as cheap as possible, especially when it comes to their home. I thought we were poorer than we grew up because our home is not well cared for care. Now I realize that both of my parents are not good at cleaning, and both have slight storage problems and see no point investing real money in the living space. Voice to all the kids who never really had friends come because their home was “annoying” – I see you. The first time I remember having a honest conversation about money with my parents was when I decided on colleges. My dad and I had a discussion where my account balance showed me 529 and said they had to qualify for significant financial assistance to go to any of the schools I dreamed of. Fortunately, I ended up meeting the conditions for financial aid that covered my entire tuition and I only had to pay for the housing/food cost, which was paid with my 529 account and federal loans.
What was your first job and why did you get it?
I started teaching lessons and getting paid under the table at the same place I made my main extracurricular when I was 14 for some money money. The first W2 work I had was at a local swimming club working in the snack, which my aunt and uncle helped me get to. The only time I haven’t worked since then was my first year of college, since my original financial aid package had a work/study gradually and then took it away before I started school. I worked again starting in the summer between first -year and second -year students and I am not unemployed for more than a few weeks since then.
Are you worried about the money that is growing up?
I was not worried that we wouldn’t have food on the table or a roof over our heads, but I was told “no” many. My mom was a mom stay at home until I was in the middle of the elementary school, then she started working different part -time jobs. He did not want to, but he has said that the money was too tight to stay home. All my mom’s money was for me and my brother to have fun, such as extracurricular and beautiful of basic clothes. I participated in a very expensive extracurricular as a child that my mom loved very much and was very much involved. My dad always talked about how much it cost and made me worry that my extracurricularly hurt our family in ways I couldn’t see. Although my mom was happy to finance my extracurricular activities, if we ever went shopping and my mom bought me things, but not herself, she would get upset and say she spends all her money on me. This made me worry that we really didn’t go well financially. I think my dad’s sting has always fueled my mother’s stress for money, even though things are not so tight anymore.
Are you worried about money now?
I do it. Many of my friends grew up in the upper middle class or just old wealthy and I know they have a leading start. I feel that I know a lot more about the finances than my peers because I have to be really deliberate with my expenses if I want to thrive. I want to be able to buy real estate one day and I have to strategize how to do this, especially if I want to stay in New York. At least once a week I look at streetteasy and the spiral for how much a home holder will cost. But I have the emergency fund and I am doing well with my retirement savings now, so it’s time to build this wealth that can be made a down payment.
At what age became financially responsible for yourself and have a financial security net?
Fully, at the age of 25. I left my family’s telephone plan when I returned 25 last summer and got out of my family’s insurance at the age of 24, cared for everything else I just moved to New York at the age of 23.
Have you ever received passive or hereditary income? If yes, explain.
When I was in college, my parents paid for groceries, apartment and utilities when I moved from campus. I never bought my own car, I always got my mom’s old car (once when I started driving again when it was upgraded, the first car was sold and I got the second hand-down car). My parents have always paid for insurance and maintenance, as well as gas when I was in college. When I moved to New York, my dad sold my car and gave me part of the profit, which I think was $ 3,000. My mom paid the broker’s fee when I moved to my current apartment, which was $ 2,000. Recently, my grandmother passed, and my mom and uncle sold her home. My parents decided to give me my brother every $ 2,000 from my grandmother’s life insurance and $ 50,000 each from selling the house. I received $ 25,000 this year and will receive $ 25,000 next year. This was an incredible, amazing, generous gift that I am very grateful for – shouting mom and dad. There is also a marriage fund for me, though I don’t know how much it will be.
