Today: a law clerk who makes $53,000 per year and spends some of her money this week on underwear.
Occupation: Clerk
Industry: Law
Age: 25
Location: Toronto, ON
Salary: $53,000
Net Worth: $2,000 ($10,000 in a GIC and $5,000 in savings, minus the debt below)
Debt: $13,000 (student loans)
Paycheque Amount (2x/month): $1,460
Pronouns: She/Her
Monthly Expenses
Rent: $1,150 (The total rent for my two-bedroom unit is $2,100, and my roommate pays $950.)
Student Loans: $238.90
Internet: $70
Hydro: $50
Phone: $65
Spotify: $14.99 (I pay for the family plan)
Netflix, Amazon Prime, Crave, Disney+, Apple Music: $0 (covered by friends and family)
Wealthsimple Investment: $100
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?
Absolutely. I don't think my parents even thought for a second that I wouldn't attend university. It was a constant topic of conversation during dinners, and I definitely felt pressured to seek higher education. I moved away after high school to attend university on the other side of the country. My parents paid for tuition and living expenses for that first year, and I took out student loans to cover the other years. I plan to go to law school and take out student loans for that as well.
Growing up, what kind of conversations did you have about money? Did your parent/guardian(s) educate you about finances?
My parents taught me it's always better to save than to spend. I think it's the immigrant mentality my parents had, and I definitely resented them for it, especially when I would see my friends going on family vacations or eating out. My parents didn't have many conversations about money with me and my siblings — they thought money problems should be dealt with by the adults.
What was your first job and why did you get it?
I worked at a paint-your-own-pottery place. I only wanted a job because my older sister had one, and it seemed like so much fun. I don't think I needed to get a job, but it gave me independence and something to do outside of school. I loved having a part-time job and controlling how I spent my money. I've also worked at a grocery store, bookstore, and cafe. I got my first full-time job, as a law clerk, right out of university.
Did you worry about money growing up?
I'm very grateful that I didn't have to worry about money growing up. We weren't necessarily rich, but I know we lived comfortably, and my siblings and I always got what we asked for. Knowing what I know now, I'm beyond impressed that my dad provided for a family of five (my mom's been a homemaker since day one).
Do you worry about money now?
Not until last year. COVID made me realize anyone can be laid off. Also, now that I'm 25, I should be buckling down to save for a permanent home AND law school. There's a lot to save for, and my salary is not where I want it to be.
At what age did you become financially responsible for yourself and do you have a financial safety net?
I started paying for my rent and tuition at age 18. When I turned 20, my brother moved to Toronto for school, and we lived together. My parents helped support us for the next couple of years, then he moved back to Calgary, and I've been financially responsible for the last three years. My parents and my older sister are my safety net. I hope I never get to that point, though!
"diary" - Google News
February 16, 2021 at 08:00PM
https://ift.tt/3jRv3g9
A Law Clerk In Toronto - Money Diary - Refinery29
"diary" - Google News
https://ift.tt/2VTijey
https://ift.tt/2xwebYA
Bagikan Berita Ini
0 Response to "A Law Clerk In Toronto - Money Diary - Refinery29"
Post a Comment