A preservation specialist on O‘ahu — Money Diary

Occupation: Preservation specialist
Industry: Emergency management
Age: 24
Location: O‘ahu, Hawai‘i
Salary: $36,000
Net Worth: $87,510.63 ($180.89 in checking; $131.74 in savings; $44,000 in investments; $21,698 in a Roth IRA; $21,500 for the value of my car)
Debt: $0
Paycheck Amount (2x/month): $1,287
Pronouns: She/her

Monthly Expenses
Rent: $500 (which I pay to my parents)
Car Insurance: $97
Phone: $25
Healthcare: $0 (on my parent’s plan)
Mutual Aid Donation: ~$250 (10% of my monthly income)

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?
Yes, my parents both have graduate degrees and built college funds for my sister and me. I got my bachelor’s and master’s on the East Coast, where I lived for five years. My parents paid for my tuition and living expenses using those savings, and I also had academic scholarships for both degrees.

Growing up, what kind of conversations did you have about money? Did your parent(s)/guardian(s) educate you about finances?
I remember my mom taking me to the bank to open my first savings account when I was a kid. When I got my first job, my parents offered to put most of my paychecks into investments and continued to do that for me until now.

What was your first job and why did you get it?
When I was 16, my mom told me that I was expected to get a part-time job to teach me about responsibility. I worked as a library student helper, then at an ice cream shop. My senior year of high school, I began working in food service, and I worked that job on my Christmas and summer breaks all through college and grad school until I got my current job.

Did you worry about money growing up?
No. I know now that my parents were very smart with their spending, but when I was growing up they never talked about it in front of me. They emphasized that my sister and I would always be taken care of no matter what.

Do you worry about money now?
Yes, even though I’m not technically in a place where I need to worry. After I finished grad school, I moved back to Hawai‘i to live with my parents while I looked for a job. Now that I have one, I worry that they will get sick of me living with them and kick me out, especially because they’ve become increasingly conservative and religious over the past few years, and we fight about those things. I’m very frugal and I know that I could technically afford to live on my own, but it would be stressful.

At what age did you become financially responsible for yourself and do you have a financial safety net?
Because I still live at home, I’m not financially responsible yet. My parents paid for my housing and food through grad school, and I began paying them rent and for my phone bill when I got my job after I graduated. I know that they could assist me financially in an emergency.

Do you or have you ever received passive or inherited income? If yes, please explain.
When I was growing up, I would receive $550 combined from two relatives for each birthday and Christmas. I expect that I will inherit something from my parents when they die, but we’ve never discussed it.