Yes, absolutely. Fortunately, both my parents were always very supportive when I wanted to get my theater degree. I got a high enough ACT score to cover tuition. my parents paid for the rest (they thought tuition was covered as ‘doing my part’). It was always understood that as long as I got as many scholarships as I could to contribute, they would cover the rest.
Growing up, what kind of conversations did you have about money? Did your parents/guardians educate you about finances?
Lots and lots of talk, ever since I was little. I was introduced to the Dave Ramsey envelope method at about age 12 (thanks mom!), where you save some, spend some, and give some away. She made the stereotypical twenty-something mistake of ending up with a lot of credit card debt, and as she got older, she got very serious about being more responsible with money and paying off her debt/never getting into debt again. My dad, on the other hand, is an accountant for an insurance agency who has a condo in Florida and a house/boat down on the lake. So coming from very different economic backgrounds there. He also talked to me a lot about money, especially the importance of working for what you have and saving for the future and the unexpected. I had a little kid-sized ATM piggy bank that I thought was the coolest thing ever and I made the money for things I wanted. I remember my first “big” purchase was a Nintendo DS Lite and a Hannah Montana game, which would have been about $130. I was so proud of myself.
What was your first job and why did you get it?
I started working at Altar’d State at the mall at 16 for spending money. I LOVED (and actually still love) the clothes, so the employee sale was the most amazing thing ever, because I loved their stuff, but it’s pretty expensive. My first salary was about $200 and I spent the whole thing on clothes. I remember telling my mom that I felt rich.
Were you worried about money growing up?
Not really. I was aware of money and how much things cost — for example, I went to summer camp every week for eight to 10 weeks in the summer and was responsible for research, including programs and prices — but my father always paid for it all. We went to Florida every year, I always got my big ticket at Christmas, and I took dance, voice and flute lessons weekly for over a decade. I didn’t get everything I wanted but I never wanted anything necessary.
Are you worried about money now?
Much less than I did a year ago! Of course inflation will always be an issue and wedding planning is expensive, but I’m much more stable on the health side of things, which allows me to work more consistently and dread time off much less. I’m also on my fiance’s insurance so I no longer have an income limit. But budget-to-the-last-dollar trends haven’t abated.
At what age did you become financially responsible for yourself and have a financial safety net?
When I was 20, I started paying for my own phone plan, health care, housing and other bills. My car has now been changed to my name but my mum is still paying for it. I have a huge safety net in my fiance — he gets paid extremely well and his job seems to keep wanting to throw him raises and bonuses — and so does my mom, my in-laws, and the rest of my family.
Do you have or have you ever received passive or inherited income? If so, please explain.
My mom and I were in a car accident in 2017 and we were awarded $40,000 each. I bought my car and then used the rest to pay for college after being cut off from my dad. My aunt took out a savings bond for me when I was born that matured to $5,000 when I turned 21. I put $2,000 of that into opening my business and the rest was used for everyday living expenses and put into savings. My mom took $15,000 out of her 401(k) to pay for my nerve decompression surgery in 2023. My dad contributed about $3,000 to cover the rest of the cost of the surgery and to supplement my income while I was in recovery. Due to medical difficulties, he qualifies for billing assistance through the local hospital network for 2024. All hospital bills left over after insurance are forgiven. I still pay for the doctor’s bill on a payment plan. Also, as mentioned, my grandmother loaned me $5,000 for business start-up costs.
