Industry: Education and mental health
Age: 35
Location: Bay Area, CA
Salary: $122,000 (my salary is $104,741 and I earn $15,000-$20,000 from private practice, so I have averaged it out for the purposes of this diary).
Assets: Checkings: $2,500; personal investments: $67,800; Roth IRA + 403(b) combined: $61,500; CALSTRS (a California educator pension program): $59,689; HYSA: $12,000.
Debt: $0
Paycheck amount (1x/month): $5,300 (school counselor income 11 months of the year) + $900-$1,200 (private practice income).
Pronouns: She/her
Monthly Expenses
Housing costs: $1,500. I share a two-bedroom, two-bath condo with my roommate. My rent includes a garage parking spot, utilities, wi-fi, and TV subscriptions.
Loan payments: I paid off my student loans in 2020.
Phone and auto insurance: $200 (sent to my parents).
Donation: $200 (monthly support of my missionary friend in Mexico).
World Vision: $35 (child sponsorship).
Office rental: $95 (for private practice).
Yoga studio membership: $117
Spotify: $12
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, there was always an expectation for me to attend higher education. I earned a bachelor’s degree and a few years after that I went back to school for my master’s degree. I entered into a dual program in order to become a school counselor and a therapist. My parents paid for my undergraduate education and I took out loans and lived with my parents when I attended graduate school. I was able to get tuition paid for during my graduate school program through federal student aid, which was a huge money-saver for the two years of grad school.
Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
My parents always told me to never spend outside my means and to never lend money that you’ll need owed back. My family lent a lot of money to a relative and the relative was never able to owe them back so I think there was some fear around that. They also emphasized saving in general and saving for retirement.
