Yes, college was always expected. My parents never really talked to us through other choices and I was a high -level student in a low on -site school, so all my teachers were waiting for me. I knew I wanted to go to health care or social work, so it was always a case that I would receive at least one master’s degree. I applied for a scholarship based on high school needs that took me most of the Undergrad. It wasn’t enough for my last year, but I was able to graduate early to offset the extra cost of a tuition increase. My parents paid for the rent and the end of the undergrad for me. Postgraduate school was extremely expensive. Treatment is a very high ratio of embarkation-reward for income. We paid my first semester in cash and I only received loans for tuition. I worked almost full -time during which it is unusual for a professional program and was extremely stressful. I graduated with about $ 100,000 in debt and we paid extensively during the Covid-19, so I’m almost over, but it is very frustrating to see the stagnant refund rates as the debt burden is increasing.
Growing up, what kind of conversations did you have for the money? Do your parents/guardians train you for finances?
My parents were incredibly simple and got a lot of them. They gave us very small benefits (literally starting with three nickes, but then increased to six) and had separated us between giving, storing and having fun. It was negligible to pay for many, but it got the point for the budget. We never talked about stocks or investments or the reality of taking up such large debt for school. My parents continue to be very simple, but I think they are sometimes unrealistic about how possible things like long -term care could cost.
What was your first job and why did you get it?
My first job was a 1 -year -olds at the age of 11. I did $ 5 an hour to watch five and six years for 42 hours a week. It looks archaic now, but I had this job for many summers. At the age of 16, I worked as a server in a retirement home. I maintained this job until the end of the Gymnasium and during the early column breaks. I took the jobs to pay for any additional curricula and social activities in which I wanted to participate. My friends were all more affluent and felt like a necessity.
Are you worried about the money that is growing up?
Yes. The money for me was liberated and my parents never gave us money for social activities. We always had the needs and never worried about food or housing. We were very lucky for how much our parents were present and the two often worked part -time to be with us, but we rarely had more than necessary. I was the only superior branch on my school bus for example-the rest of the farm community gave me the kids in 16 years. My dad lost his job when I was in high school and my family was very stressful about it, but I didn’t know much about the realities of how they changed their finances.
Are you worried about money now?
Yes and no. Having gone to Grad school, I feel far behind saving and investing, as I didn’t really start working beyond rent and food payment up to 25 years old. My career is also quite covered in pay, which is frustrating. I have a very supportive partner and a lot of work that helps stability. I have also made significant progress in saving and paying the debt that increases my comfort level.
At what age became financially responsible for yourself and have a financial security net?
At 22. My parents retired and started their health insurance at that point, as well as losing any support for rent and education. I think they would probably help me if I needed it, but I would go back to my partner or sister first. I have a great extensive family, so I will always have somewhere to live.
Have you ever received passive or hereditary income? If yes, explain.
Yes. My parents supported the end of Undergrad and gave my sister and I every $ 5,000 when our grandmother died. This started my Roth IRA.
