Few things make me feel as nauseous as looking at my paycheck does. I have a good job with a good pay and I work A LOT. Yet, I have no money. I have no money because over 20% of my paycheck is taken out in taxes. Keep in mind I am a 19 year old college student who struggles to pay for gas and is in no position to lose close to $300 every pay check to the government.
This summer I became a grown-up; I got a full-time job, rented a home, and started paying bills. In particular, I was very excited about all the opportunities this new job would bring me. I dreamt of finally breaking out of my broke college kid slump and being able to buy something for myself that wasn't rent or groceries. Yet here I am, three months into this new job and no exciting purchases. While this may sound like #firstworldproblem it is actually very troubling to me. Here's why: two years from now I will graduate college with a degree (God willing), at that point I will be over $30,000 in debt, after working for about a year I plan on going to grad school and take out another $100,000 in loans, at that point I will realistically be about $120,000 in debt. At around 25 years old I will be $120,000 in debt from schooling and looking to start my life. I will hopefully buy a house, get married, start a family. At what point in all those expenses will I be able to spend money on myself? All a girl wants is a new pair of jeans.
It is a rare sight to see me purchasing anything that is for me. With potential every buy I spend so much time thinking about buying it, I never actually buy it. I think to myself save, save, save because it is difficult to work during the school year. As a result I spend my summers being so frugal with my money that I never get to enjoy it. It is never a thought to "treat myself" because the budget doesn't call for that. I end up spending all my money on books, tuition, and pretty much anything "un-fun" you can think of. You would never catch me splurging at Sephora or rewarding myself after a tough week at Nordstroms.
I'm just two years into being a broke college kid and I have basically my entire life to go considering the ginormous loans I've taken and plan on taking out. The government is ruthless when it comes to college kids. They charge you enough interest that you could go to college twice and take an obscene amount of money from your paycheck to help pay for bridge cards that can be used at a liquor store. Meanwhile, after all my bills I can't afford a new pair of work shoes because mine are filthy.
Is this what it means to be a broke college kid? Take a sickening amount of money out in loans, work your ass off to help pay off or lessen those loans, lose a significant amount of your paycheck to taxes, and never buy yourself anything nice? There is so much about this situation that is off putting. I am not easily discouraged but this makes me feel like the weight of the world is on my shoulders.
I am a college student with plans. Plans to travel, plans to invest, plans to spend my money on pretty much anything besides the black hole that is the government.
I am nineteen years old and I am terrified of the future because I have done everything right but still face a life of financial debt because of cost of education, interest, taxes, etc that the government has so carelessly arranged.
