Good morning,
We are reaching peak summer. We’re entering mid-July and all I can think of is taking a day trip to the beach, but inflation has other plans. For example, a car rental is around $130 + $40 for gas + extra milage (car rentals usually cap at 200KM) and that’s $200 just to go to the beach. If you have a car, I am available.
On Tuesday morning, I read We’re Not Asking for the Moon at The New York Times. Quick anecdotes about millennials and their relationship (or lack thereof) to money. The people and the professions reported are diverse, and the stories make you feel less alone in how you cope with finances. So, I thought, why not add my own story.
Growing up, I was raised on the lower end of middle class. We lived in a two bedroom apartment with my parents and three siblings. It was the mid-90s and my parents eventually purchased a home walking distance from the apartment building we grew up in. I could never afford to do what they did today.
My first job was at 16 working in telemarketing telling you to get your ducts cleaned by Sears. A classmate in high school got me the job. It was a scam, really. My immigrant parents were very adamant on us saving money from our jobs. My education was mostly paid for by my parents. I did a few years of college and university. My parents eventually told me they couldn’t pay for my schooling anymore so I had to pay about $7-9K for my last year of school + books + a few summer school courses. I essentially emptied my savings account from all my part time jobs throughout my years in retail. I am lucky to finish school with no debt. In 2012, I moved to Toronto with $2000 in my savings account. I imagine that’s impossible today.
I make about $58K gross income a year working in non profit. It’s the most I have ever made and I feel very fortunate, but in today’s climate, it doesn’t feel enough. I try to save between $1000-1500 a month depending on my spending habits. This month was rough because I bought shoes and a bed frame. There are no raises or bonuses. You’re not working there for the money. There’s no growth where I am working. I also don’t want to do what I am doing anymore so I am planning my exit strategy.
I am upgrading my skills to become a front-end developer because there seems to be an endless supply of job opportunities. Albeit tech lay offs in the news aren't deterring me. I don’t need to make a lot of money because my basic needs (+ special purchases) are covered from my current salary, but $75-80K would be a great to start saving up to buy property. Everyone I know who has bought property has gotten some financial support from their family. I have nothing against that because that’s the reality we live in.
I think about quitting my job everyday to focus on coding full time. I have enough in my savings (+ some in stocks and crypto) to not work for over a year. But then I have anxiety about depleting my savings. I am lucky enough to have a partner to fall on if I did quit. We both don’t have inheritances so the future is dependent on our own finances. I like to think I have a good relationship with money and can work within my means. Financially, I know I am in a good position, but it could be better.
~writing this gave me anxiety~
Homosexual Agenda
Out of commission this week! However, I did go to Ipperwash Beach on Saturday, but it was very very windy and low 20s. Daniel's cousin gave us a car for 10 days so all we had to do was pay for gas! It basically costs $90 to get here and back home.
Thanks for reading!
Perry
Every part of this! Thank you for your candor, I can relate on many levels as I shop away and save but also contemplate many career hops.
Loved your story! Thanks for sharing :)