Yes, my mother worked in education and I was always a good student. I loved learning and reading. I went to a local state school for a bachelor’s degree. I received a few small scholarships and took out as much as I could in loans. My parents helped cover the rest. I graduated with about $30,000 in student loans that I paid off in 2018.
Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
My dad always encouraged me to save my money. I watched my parents balance their checkbooks, but we didn’t have in-depth conversations about how to handle finances. My parents both grew up poor and worked hard to have a better life for their family. We had what we needed and there was still room for things we wanted within reason.
What was your first job and why did you get it?
I started babysitting as a young teen, but my first paycheck job was cleaning tanning beds at a hair salon. This was for gas, clothes and fun money.
Did you worry about money growing up?
Yes and no. My parents were stable and employed, but I always worried “what if”. I was in high school during the recession and housing market crash of 2008, so I was old enough to understand what was going on.
Do you worry about money now?
Yes, constantly. I worry about how we’d take care of our responsibilities if one or both of us lose our jobs or if the economy takes a turn. I worry we don’t have enough of a safety net. I worry about retirement and if we’ll ever get there.
At what age did you become financially responsible for yourself and do you have a financial safety net?
I got my first salaried job out of college at 23 and paid all my own bills except car insurance (I stayed on my parents’ until I was 28). I also stayed on my parents’ health insurance until I was 26, at my dad’s insistence. That was a huge help for me as I was starting my career. My parents would offer to help us financially if we needed it, but I would feel guilty because I want them to enjoy the retirement they worked so hard for.
Do you or have you ever received passive or inherited income? If yes, please explain.
My parents gifted me $3,000 to help finish paying off my student loans when I was in the final stretch (I was also living with them during this time). They gifted me and J. $2,000 for our wedding and $3,000 for appliances when we bought our home. My father-in-law gifted us $1,000 for our home.
