Both of my parents watched college, chose large STEM companies and graduated from their class. It was expected that I would do the same. I have specialized in computer science at a well -respected university in the field. I also received a scholarship for the value that covered my whole tuition for all my years in college. I just had to cover rent and food. For my first year, my parents gave me money to cover these living expenses. During my second year, I worked part -time as a software employee and used this income to cover living expenses. I maintained this part -time employment in the rest of the college.
Growing up, what kind of conversations did you have for the money? Does your parents train you on finances?
Growing up, my parents talked about spending habits and the importance of saving. We lived extremely simple lives and tried to save as much money as possible. For example, almost all my clothes were bought second -hand and we coordinated our diet for the week based on what was on sale at the grocery store. Still, we were never worried about money. My parents made it clear that our simple way of life was not because we didn’t have money, but we probably wanted to save rainy days and future markets, such as my college and their retirement. After getting my first job, my parents taught me about various investment options, such as CDs, public bonds, mutual funds and daily negotiation. Under their supervision, I put on a day of transactions to get acquainted with marketing and acclimatized the relevant risk. If I lost money in some transactions, they helped me understand my mistakes and gave indicators how I could offset the loss. For example, one of their mantras is that if a stock we buy goes to loss unless the company is in difficult conditions (eg treatment), it is usually better to keep. “A large tide on the market will lift all stocks, just wait and then settle the trade,” they say.
What was your first job and why did you get it?
My first job was a practice practicing part -time software I got at college. I got the job mainly so I can show something in my resume when I apply for summer practice.
Are you worried about the money that is growing up?
No, I knew that my parents had a good understanding in our finances. While our lifestyle was average, they ensured that I had everything I needed. I was also assured that we had enough for rainy days. I remember there were a few months where my dad was out of work, but they never showed any marks of stress or shared concerns about money. “This is part of life,” they said, “we have stored quite a bit for such rainy days, so don’t worry and remember, this time it will pass and return to normal.”
Are you worried about money now?
Kind. I have a steady job, decent savings and with my simple/minimalist lifestyle, I’m not worried about the money in the short term. In the long run is another story. With the rise of AI, it is uncertain whether the software engineering is a good, sustainable career. If AI replaces my job or reduces my potential, I would definitely be a problem, and this is my biggest concern. Consequently, I am constantly worried about saving the future.
At what age became financially responsible for yourself and have a financial security net?
I’m not yet financially independent. I live with my parents and while I pay the bills, I know they will happily cover me if needed. So I don’t feel the same level of responsibility as someone who lives on their own. I have a financial security net. I have enough savings to cover my living expenses for a few months. In addition, I know my parents will help me if needed.
Have you ever received passive or hereditary income? If yes, explain.
My parents gave me $ 10,000 when I started college. I used some of them to cover my living expenses in the first year of the college and put the rest in a savings account.
