Education has been a priority for my family for decades, so no one has ever thought about going to college. Being the daughter of doctors inspired me to attend medical school in my hometown when I was 18 years old. In Ecuador, the degree lasts six years and you can go straight to it after high school. My mom and my grandparents were very supportive of my education and paid most of my degree until my little sister in college was entered. Having two daughters in private universities in itself (since my dad died when I was 12) it was very expensive for my mom, so I had to borrow for my last two years of school.
Growing up, what kind of conversations did you have for the money? Does your parents train you on finances?
My mom has taught me about the finances since I was a teenager. While in high school, it would give me a monthly allowance based on a budget that I had to present on a foil. Besides, most of the conversations we had about the importance of saving and planning. He always recommended books and lessons for personal finances that I never got serious, but now that I start making my own money, I would like to use the resources he offered me when I had more free time.
What was your first job and why did you get it?
During the last year of the Medical School, in my degree, I made an internal year where I worked in a hospital, supporting residents and participating in everything they needed. We paid about $ 500 a month and used this money to pay for all my personal expenses except the housing and the basic needs of my mom. I have also saved some money that I later spent to travel abroad with my friends as a gift from graduation from myself.
Are you worried about the money that is growing up?
I think most of them worried about the money they grow up were after my father died. For the first two years, I saw my mom struggling to pay loans and medical bills from my dad’s disease (she had cancer) while she was the head of the household and that made me worry too. As the company that my dad coexists began to do well and my mom was trained in personal finances, we finally started living a very comfortable life. Although I almost stopped worrying about the money after that, to see that my mom stressed so much that my early years were definitely influenced and reminded me that life can change drastically when you expect it less and you have to know it, but you also have to trust you.
Are you worried about money now?
As I plan to apply for a stay in two years, I’m definitely worried about the money now. I want to be a specialist abroad, which means that I have to save a certain amount of money for travel and study, and I keep it in mind every time I feel like spending some extra money on things like concerts, expensive dining room or clothes. However, my mom has offered to help me so that I can fully focus on this goal in 2026. While I am so lucky that my mom is willing to support me and will contribute with more than half of the expected expenses for this process, I still feel guilty about it.
At what age became financially responsible for yourself and have a financial security net?
To pursue a medical career means that there is a high chance that you will not gain complete financial independence until the early 1930s (or later). Although I started paying for all my personal expenses last year, I feel that this is the first year I am financially responsible for myself (though I live with my mom for a few days of the month). I am very grateful to have my mom and my grandparents, as I know they could help me financially if I need some help, especially for the coming years. I also know that I could sell my car or my company is sharing in extreme emergencies.
Have you ever received passive or hereditary income? If yes, explain.
When my father died, I inherited a few things, including a part of a house that we finally sold to buy a home in a better neighborhood and the company shares that I still have. The money I receive from them per month has always been used for educational purposes (including exchanges and summer programs in other countries that are definitely changing in life). As mentioned earlier, when I started college, my mom bought me a car so I could go anywhere on my own, and spent more time with my little sister without worrying too much about me. My grandparents also give me about $ 500 each year for my birthday and Christmas I use mostly for more expensive personal expenses (such as tools or travel) and whenever they are in the city they offer to pay for my groceries. Finally, my mom contributed monthly to a retirement fund for me when I started the medical school. As soon as I began to contribute for this during the domestic year, it went out, but I am so grateful for her amazing support for it (and everything else).
