Occupation: Clinical Research Coordinator

Industry: Oncology

Age: 28

Location: Seattle, WA

Salary: $73,000

Net Worth: The only money I have saved is $15,000 in my retirement account, however, my net worth is still negative due to my student loans.

Debt: $180,000 (student loans)

Paycheck Amount (1x/month): $4,700

Pronouns: She/her

Monthly Expenses

Rent: $1,700, of which my boyfriend pays $700 (rent includes utilities)

Student Loans: $0 (My student loans are normally about $1,800 but they are on hold right now while I get my MBA)

Streaming Services: $60

Internet: $50

Pet Insurance: $60 (It's paid for itself! Highly recommended especially for people struggling with money!)

Purina Dog Food Subscription: $80

Health Insurance: Paid for by my work

Gym: $0 (due to COVID)

Samaritan Donation: $15

Extra Retirement Contribution: $100 (My work just gives us 7% of our salary in our account so I put in a little on top of that.)

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?

Growing up there were never really any discussions regarding school. My mother has her GED and my father didn't graduate high school so while I think they knew I wanted to go to college, they had no idea how schooling was paid for or how loans worked. I paid for my schooling via private loans — my parents have declared bankruptcy twice, which according to them deemed us ineligible for federal loans. Looking back, I was offered federal loans to cover my schooling. I don't know why they didn't opt for those. My grandfather had to co-sign my student loans, which is still a point of stress and animosity between my family and I to this day. I've never missed a payment but they are concerned that I will mess up and that his house (it's in a big city and now worth a few million) will be taken away. My aunts constantly get involved, I occasionally get angry calls, and it's put a huge strain on our relationship. I feel guilty and tend to stay away from them.

Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?

My parents never really talked to me about money growing up. I realize now that they didn't know what they were doing and were struggling to get by. When it came to taking on my student loans I was told that the companies will work with you, the payments will be reasonable, etc. They had no clue what they were talking about! But they tried their best.

What was your first job and why did you get it?

I applied for quite a few jobs in high school but was never able to get one. I grew up in a very white community and I think being the fat Black girl made it difficult. My best friend in high school and I would both go to the mall, fill out applications and turn them in together, and she always got the call back, never me. She was cute and white and I think it was a little easier for her even though she didn't have a license or a car while I did, etc. Because of this, my first job ended up being after college working as a cellular therapy technician.

Did you worry about money growing up?

Yes. My parents were very concerned about keeping up appearances but never had money. We would live in huge houses with more bedrooms than people, custom furniture, a Mercedes in the four-car garage, but if I asked for $20 they might not have it. Cards were often declined. We were always fed but never maintained groceries in the home which I now recognize as a symptom of living paycheck to paycheck.

Do you worry about money now?

Yes. I think that I inherited many of the poor habits that my parents had with money. I'm currently not making payments on my loans while I get my MBA and I know it's a bad choice but the idea of getting to live like a normal person without thousands of dollars in monthly payments in loans for a bit of time is too appealing.

At what age did you become financially responsible for yourself and do you have a financial safety net?

After college, I moved out of my parents' house pretty much right away and lived with a friend in their spare room so that I could apply for jobs and interview in the city. I was 22 and was financially responsible for myself from that point on (mostly). Although my parents don't have much money, if I was in trouble I could fall back on them for a small amount — they'd never be able to pay my rent for me though.

Do you or have you ever received passive or inherited income? If yes, please explain.

Yes! I am soooo lucky to have received $300 a month from my parents throughout random stretches of my life. When I left an abusive relationship, they helped me by giving me a monthly allowance. They also helped me for a short time after school.