Growing up, there was always an expectation that I would go to university. While my mom encouraged me to consider the community college down the street, I wanted to study out of state. I had thought about taking a gap year but ultimately went straight to university. Thankfully, I received both housing and academic scholarships, which helped with the costs. My parents split part of the tuition through loans, and I took out a loan to cover my final year. During the pandemic, I paid off more than $4,000 of my student loans, but later requested a refund in hopes that student loan debt would eventually be canceled, so I could use the money for other emergencies I had at the time.
Growing up, what kind of conversations did you have about money? Did your parent(s) educate you about finances?
I didn’t really understand the importance of money until high school. My parents never talked much about it, though I could tell we didn’t have a huge amount. We were comfortable. My mom especially didn’t want me to worry and even discouraged me from getting a job as a teenager. We never discussed things like investing or ways to earn money beyond a traditional salary. It wasn’t until I took a finance class in high school that I learned the basics, like how to balance a checkbook and create a budget.
What was your first job and why did you get it?
My first job was in a bridal shop when I was 17. I worked as a sales associate, helping girls shop for prom dresses and brides find their wedding gowns. I also stocked dresses and ran errands on the floor. I earned minimum wage, which was about $8.25 an hour in Illinois at the time, and mostly worked weekends since my weekdays were packed with high school commitments. I stayed there through the end of high school. My mom didn’t want me to have a job, but I insisted so I could earn my own money.
Did you worry about money growing up?
I’m sure my parents did struggle, but I didn’t feel it directly. I grew up in a single-parent household and wasn’t the type of kid who asked for much. I noticed it more when I joined activities in high school and needed funds for competition, Secret Santa parties, equipment, etc. My mom always found a way to cover them, but I could tell she was caught off guard at first. That said, I never felt like I didn’t know where my next meal would come from or that I wouldn’t have a place to live. And when it came to big-ticket items, like a phone or computer, she would surprise me on Christmas or my birthday.
Do you worry about money now?
Yes. I’ve always had a survivalist, frugal mentality, and especially so since being laid off. I often struggle with the feeling that I don’t deserve to spend the money I earn. I’ve spent so much time saving that when I need those funds, I don’t want to touch them. Even when I have the money and want to use it to invest in myself or take a vacation, it takes me a long time to decide. I’ve been working on shifting that mindset, reminding myself that money is always available in some form, and that if it’s not, I have an incredible community of friends and family who would support me if I needed it. Freelancing hasn’t helped those nerves — most days, I’m unsure when the next paycheck will arrive. Still, whenever I’ve needed money, it has found its way to me through a project, a friend, or an unexpected check. I do worry about whether I’ll ever be able to retire or if my money will last in the long run. I’m naturally spontaneous and love to disappear off the grid for weeks “for the plot”, but I can just as easily go an entire week spending only $20. Often, spending money feels wrong — what if something happens? — but I know that mindset comes at the expense of enjoying life and truly investing in myself.
At what age did you become financially responsible for yourself and do you have a financial safety net?
As soon as I graduated from college, I became financially independent. During school, I worked two on-campus jobs, at the library and in security, and used my student loan refunds to help cover living expenses. After graduation, I left home, took an unpaid internship, found a part-time job, and rented my first apartment. From time to time, if money was especially tight, I’d ask my mom or dad for help — never more than $500. I cover all my own bills, but it brings me comfort knowing that even in a worst-case scenario, I’d have a safety net and wouldn’t end up on the street.
Do you or have you ever received passive or inherited income? If yes, please explain.
Starting my junior year of high school, my aunt rewarded me with money for every A and B I earned. By the time I graduated from college, I had saved $1,425.38 to use however I wished. Aside from that, I haven’t received any inherited income.
