First Gen Money is a personal finance blog for first generation Americans + college graduates who want to create generational wealth.
My name is Dannielle. I’m 24 years old, working in NYC and living rent-free with my parents and three sisters in the suburbs. As the daughter of two immigrant, blue-collar working parents, I’ve had to navigate higher-ed and post-graduate career moves without any support. Things such as registering for the SATs, applying for the FAFSA, and attending career fairs were not on my family’s radar.
The lack of guidance and my own unawareness of basic career must-do’s meant losing out on negotiating my first salary and enrolling in my company sponsored 401k. I entered my career with $30,000 in debt and what I considered to be a useless degree. Luckily, due to my family’s past financial mistakes, I was wary of credit cards and debt, so I refrained from accruing additional debt and was motivated to pay off my loans.
In the past year, I have delved deeper into the personal finance world, listening to various podcasts and reading different books and blogs. I’ve come to understand the importance of financial literacy, especially after a recent study reported that the wealth of the median Black and Latino households are projected to hit zero by 2053 and 2073 respectively, even though they’ll make up the majority of the U.S.
We need to act and we need to act NOW. Join me in creating generational wealth for ourselves and our families. I’m not an expert, but through my experiences and the help of the internet and good ole’ books, I’m confident we can figure it out.