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My father had heard horror stories about tenants not paying rent, so he refused to rent it and instead chose to pay two mortgages for years. My father purchased a second house that we moved into right before the 2008 financial crisis, and our old house was incredibly difficult to sell. As I got older, I became aware that my parents made poor financial decisions. My mother stayed at home while my father worked. I learned piecemeal things about our financial situation by observation. My parents would often deny certain things I asked for because they were “too expensive,” but we had enough to eat and were generally stable. They grew up in a rural village in China and they have very little financial literacy.
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Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances? I pay off my credit cards every month and have no other debt. I graduated with no debt and went to law school, where I took on approximately $200,000 worth of debt. Luckily, it had an excellent warranty on it, but things like this taught me how important it was to be financially independent. My father was emotionally and physically abusive and actually smashed my college-issued laptop beyond repair one time when I was visiting. I took the scholarship in part because my father used finances as a tool of control, but also because my parents didn’t have any savings to help me.
Wake me up in 10 minutes full#
For undergrad, I went to a state university on a full scholarship, which paid for tuition, room and board, and gave me a laptop and stipend. It’s particularly true for my father, who used education as a path to the United States. My parents are first-generation immigrants who constantly emphasized the importance of education. 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?Ībsolutely. Phone: $200.39 (I use Mint Mobile and pay this for a 12-month plan for service and 4GB of data each month) However, I am planning to cancel this, and my other related subscriptions.) NYT Subscription: $0 (reimbursed by my Amex)Īmex Platinum: $695 (I had this card when the annual fee was $550, for the signup bonus. Rent: ~$3,710 ($3,505 base rent, $150 pet fee, and variable sewer/water charges.) His condo is in a different state and he was renting it out until this month, which covered his condo fees.
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My fiancé’s net worth consists of a condo that he owns in full ($500,000), various investments, and savings/retirement. My Fiancé’s Net Worth: ~$2 million (Since we aren’t married yet, I will count his net worth separately. My Net Worth: -$29,800 ($10,000 in checking and savings, $61,000 in retirement savings, $8,200 in investments, $3,000 in crypto, and $112,000 in student loan debt.) Joint Salary: $255,000 joint (I make $75/hour working part-time and my fiancé makes ~$225,000) Today: a part-time attorney/writer who has a joint income of $255,000 per year and spends some of her money this week on a kayaking excursion. We’re asking real people how they spend their hard-earned money during a seven-day period - and we’re tracking every last dollar. Welcome to Money Diaries where we are tackling the ever-present taboo that is money.