Industry: Arts
Age: 28
Location: Bay Area, CA
Salary: $30,000
Net Worth: -$335 (checking: $1,315; HYSA: $1,335; regular savings: $715; Roth IRA: $200. My small savings are not higher than my debt, despite my best efforts. I would rather have a bit of debt that I’m not completely paying off than zero cash for emergencies.)
Debt: $3,900 (credit card: $2,200; parent loan: $1,700. I’m currently on a self-imposed credit card ban, for obvious reasons.)
Paycheck Amount (2x/month): ~$1,300 (I’m paid hourly, so if I need to take an appointment or have an emergency, my paycheck is lower.)
Pronouns: She/they
Monthly Expenses
Rent: $850 (I have a sweet set up with a very generous roommate/friend who earns over double what I do. If I were truly paying half, my rent would be $1,200, but we have a notarized agreement that states I will pay a smaller portion unless I change jobs.)
Internet: ~$27 (my half)
Utilities: ~$27 (my half)
Phone: $0 (parents pay)
Health Insurance: $140
Renter’s Insurance: $25
Therapy: $180 (two appointments a month at a sliding-scale clinic, $90 per appointment)
Prescription Co-pay: $15 (I’m on meds for my mental health, one for a blood disorder, and another to stop my periods due to pain related to the blood disorder.)
Cat Food & Litter: $55
Amazon Prime: $23.99 (includes Prime Video)
Spotify: $9.99
Photoshop: $9.99
Netflix: $15
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?
My family never encouraged me to pursue higher education, but the schools I attended encouraged eager students like myself to aim for college. I wanted to go into the arts and auditioned for colleges. I completed a (relatively useless but highly enjoyable) liberal arts degree and have since attended free community college courses to further my graphic arts knowledge. I’m very privileged to have attended a college without going into debt — most students were not in my position, taking out loans and working harder than I needed to work. That experience taught me the importance of the opportunities I was given. I wish I had this perspective earlier, and it’s clear from my past diary that I wasn’t interested in saving much, which makes me cringe to this day.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
My parents imparted zero financial education to me. The vibe was always: “We’re doing well financially, and you’re a smart kid, so don’t worry about money. You’ll figure it out. You’ll be fine.” I definitely don’t feel “fine” at this point in my life.
What was your first job and why did you get it?
I had the odd babysitting or catering jobs in high school, but my first real job was working retail during the summers while at home from college. My parents encouraged me to start paying for more of my basic needs. During the school year, I assisted at the fine arts school and worked late nights at a minimart on campus. My parents paid my tuition, and I got my own groceries and basics during this time.
Did you worry about money growing up?
No, never. My parents absolutely made mistakes and even asked my older sister, who was a teen at the time, to help pay the mortgage. I was sheltered as the younger one and was never aware of any struggles. My perception was that we were all set for life with my dad’s great job and home ownership, but this is clearly not the case. They are struggling to remain employed and financially stable in their older ages.
Do you worry about money now?
Every day. It feels like no matter how hard I stick to a budget and save, something comes up with my health, or I slip and go over in one area of spending. I am considering leaving my position, and the biggest reason is the wage, which is extremely low for this area.
At what age did you become financially responsible for yourself and do you have a financial safety net?
I’m not truly financially independent. My parents pay for my phone plan and helped me with an apartment deposit when I moved recently. I included the deposit in my debt above because I intend to pay it back in small chunks. I moved out of my parents place at 26 and have been paying most expenses since then but struggling. This area is HARD with the tech boom pushing the cost of living up and up. You could also argue that I am dependent on my community because my roommate, girlfriend, sister, and friends, who make more than me, pick up charges like meals we eat together, rides we take, and event tickets that I sometimes cannot afford. I’m endlessly grateful for that support and love. At this point, my parents aren’t doing well financially, so it’s time for me to get it together and create a safety net for myself. I could still move back in with them if things truly fell apart.
Do you or have you ever received passive or inherited income? If yes, please explain.
I have not inherited income, but as stated above, my parents have helped me immensely. The recent housing help was the largest sum they’ve given me, besides paying for my education. They also covered several large medical bills (~$1,000) and kept me on their insurance until I was 26.
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