College and grad school were never a question in our family. It was definitely an expectation that we would go to medical school or something similar. I went to undergraduate on a good scholarship, though not full. In pharmacy school I only had a small scholarship in the latter half — my parents were able to pay the rest. This left me with no debt entering the workforce, which is incredibly rare in my field.
Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
My parents were, and are, obsessed with finances. They’re immigrants who became small business owners while I was in high school. Growing up, they talked about money constantly. They stressed the importance of living frugally and saving as much as possible. We ate at restaurants twice a year. My parents also did a lot of their own learning about different savings accounts and investment options. Now, they act almost as my financial managers and advise me on where to put my savings. However, I have a very different view of money due to my leftist politics, and try to balance my values while setting myself up for a comfortable future.
What was your first job and why did you get it?
I got my first job when I was 16 as a hostess at a sushi restaurant in my hometown. I wanted to make some spending money and get out of the house.
Did you worry about money growing up?
Yes. My parents are immigrants and were small business owners most of my life. While there were times we did well, there were also many years where business was in the red and we only seemed to lose money. My parents struggled with bouts of depression during these slim phases. I came to the early realization that wealth was volatile and fleeting.
Do you worry about money now?
I feel very free to spend on day-to-day purchases now, given my steady income. Generally, I worry about over-indulging (lifestyle creep) and not saving enough to have a secure future. My entire generation grew up in the midst of the collapse of social safety nets and a meteoric rise of wealth inequality, so I feel very uncertain about the future. I have never had as much money as I do now, and worry about spending it in a way that reflects my values and shares my resources. At the same time, I am a Libra who loves expensive clothes, nice things, and a good time.
At what age did you become financially responsible for yourself and do you have a financial safety net?
I became financially responsible for myself once I graduated pharmacy school and entered residency, where I was making $57,000. My parents are still my financial safety net. My partner would also help support me, if it came to that.
Do you or have you ever received passive or inherited income? If yes, please explain.
I do not get passive income. In college, my parents sent me rent and bill money from the interest payments off their savings.
