Occupation: Global Social Media Manager
Location: Boston, MA
Net Worth: ~55,000 (around $8,000 in a money market, around $18,000 in a Roth IRA, and around $29,000 in a brokerage account)
Debt: $0 (I was extremely fortunate to have my parents pay for my college.)
Paycheque Amount (2x/month): $2,911
Monthly Expenses–Rent: $1,500 (For my room in a two-bedroom, two-bathroom. I pay a little more than my roommate because I have the ensuite bathroom and two closets.)
Phone: $0 (Thanks, Mom and Dad!)
Nuuly Membership: $88 (I often skip but not this month.)
Peloton Membership: $39
Book of the Month: $16.99
Spotify: $6.50 (My boyfriend, R., and I split a duo account.)
Streaming: $0 (Most major streaming services come free with my parent’s internet plan, so I use their logins)
Roth IRA: $500
Brokerage Account: $300
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?
Absolutely. My parents had me going to a college advisor at the age of 15. They’re both lawyers and have their JDs, so I always knew I was going to college. Although, if I truly didn’t feel college was the right path for me and had a trade I was good at or an entrepreneurial pursuit, I think my parents would’ve been totally fine with it as long as I was working hard and had a game plan. My grandfather passed away when my dad was 13, and he was a successful stockbroker. He left my father a trust, which my dad saved to pay for mine and my siblings’ educations. The money was given with a stipulation that it could be taken away at any time if my parents felt we weren’t trying our best in school, and we would have to start taking out loans. It was okay if we didn’t have the best grades, as long as we were working hard, getting extra help, and making a real effort to do better.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
There were little to no conversations about financial literacy in my home. The closest we got growing up was my parents telling my siblings and I that money doesn’t grow on trees when we were acting a little too spoiled. My mom did always tell …….