It is based on a conversation with a-to-to-story Marisa Kazem Pots, a Bay Area-based Inteuit Financial Advocate* and Financial Literacy Professional. This piece is edited for length and clarity.
Image Credit: Courtesy of Intuit. Marisa Kazem Pots.
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Growing up, I experienced the loss of my parents as to how to manage money.
My father is the second generation American-Filipino, and my mother is half black and half white and it has made the person a slave. Both of them wanted to earn money and made a better life for themselves, but they did not know how to invest or even save their money. We spent a lot and put ourselves in danger. There will be a year where I could not find new shoes for school because my parents did not manage their money well, but thankfully we always had a house and everything that we needed.
I wanted to become a generation that prevents the cycle of financially irresponsible.
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I knew I had to go to college. My mother finished college; My grandmother had a master’s degree in education. I felt that I have to least my bachelor’s degree, who is coming from the legacy of women who considered education as the path of financial freedom. My parents said that they can help in my rent during college, but it was about it. I got a part -time job in Nordstrom and really earned a lot of money to do so.
But when it came to tuition, there was no game plan. My parents left me at the financial office at the University of California, Santa Barbara. The office told me that I could remove the loan and they would not have to pay back until I graduated. I just wanted to make sure that I would get my education. So I signed the documents. I had a series of various loans, but I did not read the right print. I did not understand the concept of interest, and I allowed the debt to sit.
I graduated on my head in 2010 with that loan and did not plan to pay it back. After graduation, the first thing in my mind was getting a good job, to ensure that it was well paid and thinking what a career I wanted. I was always fond of writing, communicating and speaking, so I got an internship on E! news. It was unpaid, but it was a great opportunity.
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When I worked in that unpaid internship, I had to make money in favor. So I started side hustles. I worked as a receptionist in a dance studio. I sold my old clothes. I was building income, but then I was spending it – gas, food, something good. At that time, I was not thinking of paying the student loan or saving money.
I was in Los Angeles for a while, then gradually returned home to the Bay area for career in technology. Behind my mind, however, I always wanted to do something for myself.
“I needed to start savings and investment while creating 401 (K).”
Eventually, I worked in Intuit and introduced for financial education. There were devices like turbotax, and at that time, Mint, Credit Karma. I realized that I need to bring my finance in order. I needed to start savings and investment while constructing 401 (K).
Then I worked in LinkedIn and had a daughter, and I really did not want a loan of $ 40,000, was growing year after year, on my back. I have learned a lot in my professional communication career – and felt that I can set the skill to the other side, which can help a lawyer for coaches and executive women. So I started that executive coaching business; I took some customers in the morning, after hours or on weekends.
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The side’s Udham kept me busy, and I had to sacrifice time with my young daughter and husband, so I made it a little spiceer and reminded me of my ultimate goal by making a money in an account called “Marisa’s Freedom Fund”. At any time I had a check from an executive coaching job or any other side gig, it went straight to that account, and anything left, whether $ 10 or $ 100, went into an emergency fund.
I started paying my six loans in 2022 and started paying them in 2023. I got the email from my debt processor at that time, which said, “Congratulations, your loan is paid,” and I felt completely free.
“Financial welfare means using devices that are available to you.”
It is important to behave financial welfare as self-care. The first step is looking at your loan and your accounts: I did not want to see my student loan loan or credit card loan, but I had to see a big picture and find out where to start. Financial welfare means using devices that are available to you, tapping in your network and practicing stability – this is the most difficult part. You are your worst enemy. When you are working towards the financial goal, you have to make sure that you stick to a routine.
This can be a scare, especially if you have grown up in a house where you did not talk about money, but you should start your financial well -being. I try to openly talk about finance with my daughter so that she understands the power of one dollar. You can start small: $ 10 per month can increase in $ 100 per month, then $ 500 per month. Create savings and investment accounts. Also, become a conscious consumer – if you regret shopping, return it.
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Do not feel defeated if you have a debt. You have an agency to attack it by installing various income streams. I still have that entrepreneur drive. I channel it in my role as a financial lawyer in Intuit, where I empower General Z (like my younger sister) and General Alpha with financial education and confidence, and as an intraopeanure, pursue stretch projects and affect my day-to-day work.
It is very important for young generations to see that you can find time to create skills, develop a network and test a business idea when working in a traditional corporate role. A recent intuit survey It was found that 26% gene Z Already there is a side hustle, and 37% want to start a side hustle.
Related: General Z is turning to side hustles to buy ‘general goods’ in the US,’ suburban middle class America
Using your agency and taking advantage of free equipment Intuit for education And other resources, you can prepare a business to launch a full-time-and when that path seems right for you.
*Potes are Not official financial advisor; Her suggestions “are for general informative purposes and should not be considered financial advice. It is not an alternative to professional guidance.”
