I don’t think I realized that the university was optional training until the first year of colleges. There were at least two summers where I went to the camp, and almost all the teenage self -esteem was tied to my GPA. But I got to the MIT so that the place would perform – but I was burnt when I got there and fought. My parents paid for my tuition and living expenses while I got my bachelor, so I was lucky to have this stress that also weighs. Then, a few years ago I took my master while working. My job covered a place and I paid the remaining $ 20,000 out of savings.
Growing up, what kind of conversations did you have for the money? Do your parents/guardians train you for finances?
There were no talks on financial planning or how I grew up. My parents always avoid discussing how much money they have. I remember that my mom works late at night with Quickbooks, so I had this cloudy feeling that she was taking a lot of time and trying to make “money”. But I had no idea what these things were! After getting my first work from college, my dad would have sporadically aware of why I needed an IRA or how a home could help with taxes, but many of my lessons were online.
What was your first job and why did you get it?
In high school I was an assistant for a tennis program after school for young children. Honestly, I think I got it as a way to improve my college applications.
Are you worried about the money that is growing up?
No, I grew up as a child of expatriation in Western Europe. Our housing and school were covered by the company and my dad had a lot of salary plus income from renting our home in the US. I have unclear memories of my mom trying to realize at a time, but my dad always had a mentality “just to buy it”.
Are you worried about money now?
Before we have a second child, my husband C. and I recognized that we would have to save while they were both in care and they still decided that we wanted to do it. But living was more stressful than I expected. The monthly housing cost increased by $ 2,000 among me to become pregnant and in fact the baby, and then we had many costs in the heat system last year. Before buying a home, I really didn’t understand how much maintenance costs at home and I think of the cost of some repairs necessary. Based on last year’s spending, our countdown clock has exhausted cash (without our retirement accounts) in 38 months and we have 30 months until the older child is out of day care. So this year I make more efforts to do the right course (but at the same time, I am not worried enough to stop contributing to 401 (k) s and lose the employer’s fight?). We’ll see how it goes in 2025.
At what age became financially responsible for yourself and have a financial security net?
I was financially independent from 22 to 28. Then we started renting a house from my parents for $ 2,550 per month. They bought it for $ 550,000 and something like 3% interesting, so we got a discount because our rent covered their expenses, but didn’t win. A little more than a year they had to sell the house. I was seven months pregnant with the child #2 at that moment and really, she really didn’t want to move. My parents offered to help with the advance if we bought them from them, for which I was grateful, since we didn’t have enough to hit 20% below us unless we moved much more. So we bought the house from them, and now we’re back to support ourselves. Taking, in the back of my mind, my parents are our safety net. Especially now that we have children, I am sure they will lend us what we needed if it ended up with it.
Have you ever received passive or hereditary income? If yes, explain.
My parents gave us a $ 100,000 gift for our down payment. They also covered all my background costs (about $ 220,000), and gave me C. $ 30,000 to pay for our wedding.
