Was there an expectation for you to attend higher education? Did you participate in any form of higher education? If yes, how did you pay for it?
Yes, I grew up in a family that really valued education and it was always expected that I would go to a “good” school. My parents saved a lot and I’m very fortunate that they supported me through college. I received some financial aid and my parents covered the rest of my tuition and housing. I did work-study and worked part-time jobs and summer internships to pay for the rest of my living expenses in college. When I went to graduate school, I paid for part of it out of my savings and borrowed money from my parents for the rest. Again, very fortunate that they were both able and willing to loan me money for my degree with no interest.
Growing up, what kind of conversations did you have about money? Did your parent(s) educate you about finances?
Growing up, my parents didn’t talk very much about money with me, other than to encourage me to be thrifty. While I knew we were comfortable, I didn’t realize how well off my family actually was until I was older. Looking back, I’m so grateful that they prioritized saving for the future so that I could go to college debt-free. However, that thrifty mindset has really stuck with me and sometimes makes it hard for me to justify spending money on things even if I know I can afford it. Additionally, I’m still pretty intimidated by things like investing and buying a house because I don’t feel like I had much education about how to spend money wisely. I’ve been working on educating myself as I’ve gotten older.
What was your first job and why did you get it?
My first “real” job (where I received a W-2) was at a local thrift shop during my senior year in high school. I mostly just wanted to make money before going to college and get some work experience.
Did you worry about money growing up?
My parents didn’t include me in many money conversations, but we never lacked for anything, so I assumed we were comfortable. We never spent a lot of money, though; we went out to eat once every few months and most of our family vacations were road trips or to visit family. However, I never worried about money. Both of my parents always worked full-time and we’re lucky that they were never laid off at the same time.
Do you worry about money now?
Sometimes. Early in my career, I made a lot more money, but in my late 20s decided to make a career pivot into non-profit. Additionally, I actually took a lower-paying job a few months ago that was more aligned with my career goals. Rationally, I know that I have savings and still have enough to live comfortably on, but irrationally, I worry sometimes because my family really drilled into me the importance of saving.
At what age did you become financially responsible for yourself and do you have a financial safety net?
I became mostly financially responsible for myself after college when I started working full-time. However, I’ve always known I have the support of my family and they have frequently, at various points, helped support me. For example, my parents loaned me money for my graduate degree and pay for my phone bill.
Do you or have you ever received passive or inherited income? If yes, please explain.
No.