Yes, coming from a traditional Asian household, there was always an expectation that I would pursue higher education. My parents did not pressure me to pursue medical school, but there were definitely expectations from my extended family. However, contrary to everyone’s expectations, I chose construction management as my major. During my construction management courses, I was required to take accounting classes and I instantly fell in love. I genuinely enjoyed accounting in school and graduated with an accounting degree. I spent three and a half years in school while also doing summer internships, so I was able to pay for a semester of school; my parents paid for the other three years. I went to the local university and commuted from home in order to save money, but nonetheless, I am fortunate enough to have parents who invested in my education, and I am extremely grateful. I spent about three years working in accounting in many different environments, but none of them made me happy. At my last accounting job, I succumbed to burn out and was incredibly depressed that my career wasn’t “working out”. I decided to quit and take a break. That break ended up lasting three years, but it was well worth it. Now, I’ve pivoted my career to business analytics, and I am enjoying it so far.
Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
Growing up, we were always a low-income family. We never took vacations, only ate at home, and the biggest expense was probably the general cost of living. So I was always keenly aware that we had no money. From that, my parents never taught me anything about finances other than “don’t spend money”. I didn’t learn about finances until I had my first office job and was making adult money. I watched a million YouTube videos to learn about personal finance. I would say I have decent knowledge on personal finance, but overall, have nothing to show for it because I blew through my savings during my three-year break, lol.
What was your first job and why did you get it?
I got my first job at 17, against my parents’ will, as a bagger at the local grocery store. My parents were concerned I would lose focus from school if I had a job, but I desperately wanted autonomy from my parents and wanted to make spending decisions on my own that I wouldn’t regret, like treating myself to Starbucks. Granted, I did treat myself out a lot, so I can’t say it wasn’t all regretful. However, working retail from a young age taught me a lot about money and how hard it is to actually make money. I learned that I did not like retail and needed a cushy office job to function. So, by the time I was in college, I spent a lot of time pursuing internships. Luckily, I was able to complete three internships while I was in college which helped me pay for a semester of schooling.
Did you worry about money growing up?
Yes, very much so. I was always aware of how little money we had as a family because my parents always complained about it to us. I don’t believe that’s the best way to raise kids because it puts a lot of pressure on them to essentially find a way to survive at an early age. You start to think as a kid well if I do this, then we can get money or if I don’t do this, then we can save money. It’s a lot to think about at an early age and definitely impacts the way you are once you are older.
Do you worry about money now?
Yes, very much so. I wasn’t worried about it when I was on my three-year break because I was so focused on my mental health and basically surviving that I had to just forgo the thought of money. Of course, that meant I depleted my savings and dove right into credit card debt, but once the anti depressants started working, I was back to my “old” self. I was able to function again and was then concerned about my pressing finances. Luckily, I had nice parents to bail me out, but I am aware that not everyone has that.
At what age did you become financially responsible for yourself and do you have a financial safety net?
I became financially responsible for myself once I moved out of my parents home at 23. At that age, my relationship with my now husband was pretty steady and we both agreed that we needed a space of our own. So without telling my parents, I packed up all my things and left. They were heartbroken and had this expectation that I would essentially live with them forever. But I set that boundary and told them that I needed space to grow. This led to many improvements in my relationship with my parents, and I don’t regret that decision at all. I know there’s always a place I can go back to, but I am also strong enough to stand on my own two feet.
Do you or have you ever received passive or inherited income? If yes, please explain.
No, however, my parents own their home and plan on leaving it to my brother and I once they pass. This will amount to approximately $100,000, which is the closest thing I have to an inheritance. I plan to use most of that money for their funeral expenses and potentially save any remaining. My grandparents on my dad’s side have already passed and they did not leave anything behind. My grandparents on my mother’s side plan to leave everything to my uncle. I am appreciative of anything that I will receive from my parents upon their passing. I don’t expect anything from them because they have helped me so much thus far in life.
