She Strengthens

Breaking Free from Financial Shackles

Living with my parents was a constant struggle. After enduring eight years of emotional and mental abuse from my mother, I thought moving in with my dad in 2018 would bring relief. While the emotional turmoil subsided, I soon felt suffocated by their constant scrutiny of my financial decisions.

The Value of Independence

My dad, a well-meaning person, helped me access compensation from an accident in 2012, which my mother had denied me. However, this experience taught me the importance of financial autonomy. At 20, I finally gained control over my money, but my dad’s skepticism about my financial choices still lingers. He questions my ability to manage my finances, citing that I don’t need certain things immediately. I’m fortunate to have no debt, thanks to affordable community college and a lump sum from the accident. But I know many others my age struggle with student loans and credit card debt.

Taking Charge of My Finances

Despite my dad’s disapproval, I’ve made some bold financial decisions:

1. Embracing Retirement Savings

I opened a Roth IRA at 21, even before my first steady job. It felt empowering to contribute to my future instead of splurging on short-term indulgences. My dad thinks I should focus on saving first, but I believe it’s never too early to start planning for retirement.

2. High-Yield Savings and Online Banking

I switched from Chase to Ally, earning a significantly higher interest rate. My dad was upset, feeling that I couldn’t be trusted with my own finances. But I’m proud of my decision, which has given me more control over my money.

3. Credit Card Wisdom

I’ve kept my credit card a secret from my dad, but I’ve managed it responsibly, paying off my balance in full each month. I use cashback rewards to contribute to my savings or pay off my credit card balance. My credit score is nearing 700, and I’m confident in my ability to handle credit.

4. Turning Passion into Profit

I started a Patreon, earning money from my writing. My dad doesn’t understand why I use a pseudonym, but it allows me to reach a wider audience. I offer different tiers, making my writing accessible to those with lower incomes. It’s not a lucrative venture yet, but it keeps me accountable and motivated.

5. Digital Financial Management

I’ve ditched transaction registers for Mint and banking apps, which provide a clear picture of my spending and net worth. This digital approach has simplified my financial management and allowed me to track my progress more effectively.

The Road Ahead

While I know I need to be more open with my dad about my financial decisions, I’m proud of the steps I’ve taken towards independence. I’m committed to continuing my financial education and making informed choices that will secure my future.