There wasn’t really an expectation from my parents, but it was understood that that would be my path from an early age. I graduated valedictorian in high school and took my studies very seriously. I did go to a private liberal arts college in Utah, where I got a lot of scholarships. For my first three years, I had to take out federal AND private loans for what scholarships did not cover. For the last year, scholarships covered mostly all my costs, and I paid out of savings for the small remainder of what was left. I supported myself financially throughout college, and I am responsible for paying my student loan debt off by myself, and I had known this was going to be the case my whole life.
Growing up, what kind of conversations did you have about money? Did your parent(s) educate you about finances?
I don’t recall hearing or having many financial conversations when I was really young. When I was about 10, my dad tried to teach me about money through people like Tony Robbins, but I HATED when he made me listen to him or read books on money (why was I being forced to read The Richest Man in Babylon this young? And I DID do it because I am nothing if not persistent). My parents split up when I was in middle school, and that was when I became very aware of money. My mom didn’t have a job because my dad wanted to “take care of the family,” so she had to work minimum-wage jobs to care for us up until the past few years. My dad didn’t make a lot of money at this time (he is an entrepreneurial doctor), so he wasn’t providing much more than the bare minimum. My four siblings and I had homes, beds to sleep in, and food to eat, thanks to governmental assistance, but weren’t given money for new clothes or spending money — and we’d sometimes struggle with heating our house in the winter. I am the eldest daughter, so I was brought into a lot of these conversations and was made very aware of our financial situation as a teenager.
What was your first job and why did you get it?
When I was 12, I started babysitting. I babysat the same family for five summers throughout middle school and high school. I got it to pay for my own clothes, fun experiences, and gas. I also tutored when I was in high school. I had short stints at Pizza Hut and a local chain restaurant (I hate the food and restaurant industry). My first “real” job that I kept for a long time was at a local pharmacy as a delivery driver.
Did you worry about money growing up?
When I was very young, no. I had a very comfortable childhood — we went on family vacations, I went on multiple shopping sprees a year, and I engaged in many extra-curricular activities. After my parents’ divorce, yes! I stopped myself from doing extracurricular activities because I didn’t want to ask my parents for money and I worked a lot as a teenager. I wanted to have fun money to go out with my best friends, and I saved up a lot of money to move out for college. I think all my parents provided for that was the cost of my first plane ticket to Utah.
Do you worry about money now?
Yes and no. I definitely am aware of lifestyle creep, but I’ve been quietly letting myself indulge in the luxury of making more money than I ever have before. I am smart and cognizant of how I spend my money. If something comes up, I usually have the money to cover it. I know I will not be able to afford to buy a house, or retire young, or even comfortably have children on the salary I have now in Chicago, but I have high hopes for myself and I know I will only grow in my career. Also, I sometimes do have the Gen Z view of having no hope for the future of our economy… I barely even expect to be able to ever buy a house or retire. I used to have a lot of money anxiety, and I’m honestly proud of where I’m at now — even if it’s sort of fatalistic. I try not to think too much about the future while also saving what I can. I’m working hard, and I’m going to enjoy my life now! Sorry if this is problematic!
At what age did you become financially responsible for yourself and do you have a financial safety net?
Even though I pay for mostly everything by myself, my mom covers streaming services and still pays for my phone bill and iCloud storage. When I visit home, my mom, dad, or grandma pretty much cover anything I need when I’m with them. If I’m alone, I pay. If I’m with my younger sisters, I often cover their expenses, as well. I know if I were to need it, I could always move back home and in with my mom, dad, or grandma.
Do you or have you ever received passive or inherited income? If yes, please explain.
When I graduated high school, I got a lot of money from extended family and friends (I’m not sure how much), and $1,000 from my grandfather when I graduated college that I used to buy my car in Utah (which I have since sold, and lost money on by the way… I’m still angry about that). Other than those monetary gifts, no.