Industry: Tech
Age: 28
Location: Seattle, WA
Salary: $75,000, plus a $6,000 sign-on bonus, paid monthly, and RSUs. I also make $7,200–$14,400 a year coaching Pilates.
Net Worth: -$41,000 ($1,000 in savings plus $27,000 in retirement, minus debt listed below)
Debt: $69,000 ($36,000 for student loans, $30,000 for my car loan, and $3,000 in credit card debt)
EA Paycheck Amount (1x/month): $4,900 (this includes year two of my sign-on bonus, which is $583 a month)
Pilates Coaching Paycheck Amount (1x/month): $600–$1,200
Pronouns: She/her
Monthly Expenses
Rent: $1,100 ($2,200 split evenly with my boyfriend, A.)
Utilities: $100
Internet: $42 (my half)
Phone: $36 (I pay my mom for my portion.)
Private Student Loan: $167 (My other loan is deferred.)
Car Loan: $563
Car Insurance: $117
Yoga: $127
Peloton: $48
Netflix: $9.99
Apple Music: $9.99
Hulu & HBO: $27.99
YouTube TV: $80
Dog Walker: $100
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, both my parents went to college on full sports scholarships. They felt so privileged to have done so, and they still speak highly of their time at their respective colleges. It was never a thought or option for me to not go to college. I paid for it with a mix of private and public loans. My dad paid my rent for me when I didn’t live in the dorms.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
Until about the age of 13 money was never really discussed. I know we were wealthy and I got pretty much whatever I wanted. When I was about 16, during the 2008 recession, my dad’s company (in the housing industry) went under, and everything changed. Our house was foreclosed on, and my parents got divorced. Money became a huge topic of conversation, and we struggled for a while. Looking back, that experience has made me mature, and I am now used to working hard for the things I have instead of just being handed them.
What was your first job and why did you get it?
My first job was at a movie theater. I sold and took tickets, cleaned the theater, and sometimes worked the concession. I got the job because some of my friends worked there and I wanted spending money. My dad actually wanted me to wait to get a job (“You will have to work the rest of your life. Why start now?”), but I wanted the freedom to shop when I wanted.
Did you worry about money growing up?
Not until I was 16. After that, I have worried about money almost every day.
Do you worry about money now?
Yes. Working in tech, it’s hard not to think about layoffs right now, and I don’t have a huge savings account, which stresses me out, but I’m working on it.
At what age did you become financially responsible for yourself and do you have a financial safety net?
I became financially independent after college, around 23. I don’t have a huge safety net but I am actively working on it.
Do you or have you ever received passive or inherited income? If yes, please explain.
Not anymore. Growing up, I had a credit card my parents paid off, and my dad paid for my housing during college.