A software engineer in Dallas — Money Diary

Did you worry about money growing up?
No, if my parents worried about money, they hid it from us. There was one time my dad got laid off, but he was hired back two weeks later. We were comfortably middle class, and my brother and I never went without our needs being met. We didn’t really get our “wants” unless it was Christmas or our birthdays. We could afford luxuries, like family vacations, but they were always on the frugal side, like camping and road trips.

Do you worry about money now?
Recently, yes, because I bought a new car. I got into a bad auto accident a month ago, and it was very traumatizing, but I’m thankful I walked away uninjured. Used car prices are still jacked up, so I bought a new car and taking on that loan has stressed me out. But I do love my new car and I know I have a lot of room to earn money with software engineering. Layoffs happened in my company earlier this year but they have stopped now that our earnings are up. Talk of layoffs was a wake-up call for me to start an emergency fund.

At what age did you become financially responsible for yourself and do you have a financial safety net?
At 24, when I got my first big girl job and moved out of my mom’s house. I have my emergency fund that I contribute to every month that I would use if I lost my job. I know I could always move back in with my mom if necessary but I’d never ask her for money. She received a large sum from my dad’s life insurance policy when my dad passed, and I’m so grateful she has that to rely on for retirement, even though we would all rather have my dad here.

Do you or have you ever received passive or inherited income? If yes, please explain.
When I was 18, my parents gave me my dad’s used car. When I got in my auto accident, I used the insurance payout for a down payment on my new car. My mom has told me she has $10,000 saved for me that she would give me to help pay for a wedding or a house, but I have neither of those things yet.