Grad School Money Lesson

It is 2022 and I can’t believe its been two years since I graduated from my doctoral program! I feel like I have been “catching up” financially to other 30-something-year olds who have been working their entire 20s. Retirement funds? Benefits? Renting? Homeownership? Where were these money lessons in my five years of graduate school? Adulting is overwhelming, especially when my life revolved around surviving another quarter of classes, research, and practicums. Money wise, I always had one credit card and just enough to pay rent, tuition, food (coffee runs included), and to enjoy myself. I kept telling myself that I did not need to save for retirement until I had a “real job with real money.” I was wrong.

After moving for my internship, I received a letter from Fidelity stating that I had money in an individual retirement account (IRA). I was shocked to find out that my graduate school job had taken out money (a very small amount) from my paycheck. In just two years, it had grown to about a $1,000. Imagine if I had been intentional with it! When the pandemic started, I was forced to recognize that having a doctorate did not guarantee me financial stability. Nothing does.

So here I am, learning and teaching myself how to become a badass with my finances! I created Brewing Dinero with the goal of making financial literacy accessible to other first generation immigrants like me. Additionally, I am working towards becoming an AFCPE accredited financial counselor.

Thus, this is my message for all current and prospective graduate students: Don’t wait until after grad school to start building wealth! It is a money lesson I wish someone had shared with me. Just like going to graduate school, this is another form of investing in yourself – in your future self.