Romona Smith, a 20-year-old undergraduate student in Nashville, is working at Kroger and McDonald’s to subsidize her college costs. Despite limited family support, she managed to secure vital grant money to continue her education after facing financial obstacles. Smith is working full time at McDonald’s in California over the summer and will return to her job at Kroger in the fall. She plans to pursue a double major in social work and psychology and is focused on securing an internship to gain experience in her field.
Financially, Smith is facing challenges due to high living costs and high interest rates. She is looking to buy a car to save on transportation costs, but high auto loan rates have been a barrier despite her decent credit score. She is working on maintaining a good credit score and paying off her student loans and credit card debt. Smith, who is also concerned about the impact of the upcoming election on her future career prospects, is taking steps to prepare for different outcomes.
Smith’s main focus is on financing her education, but she is also struggling to pay for everyday expenses like her cellular plan. She is looking to avoid financial crises and is in constant communication with her advisers to secure financial aid. Despite the challenges, Smith remains committed to her studies and plans to pick up a second job upon her return to Nashville. She has always worked since the age of 16 and knows the importance of financial stability and independence.
In terms of saving money, Smith has tried various methods, including the “100 envelope challenge,” but found it difficult to resist the temptation to dip into her savings. She has now purchased an “indestructible” piggy bank to stash her savings and is working on dividing her income between her bank account, the piggy bank, and spending money. Smith is part of a growing trend among young Black workers who are prioritizing saving and building generational wealth.
Despite the financial challenges she faces, Smith is determined to continue her education and build a stable future for herself. She is actively seeking opportunities in her field of interest and remains focused on securing internships and advancing her knowledge in social work and psychology. With the election looming and the uncertain economic outlook, Smith is preparing herself for whatever might come her way and is committed to working hard to overcome any obstacles that may arise in her path to financial stability and success.
