A Natural Born Fiscal Conservative

Editor’s Note: This article previously appeared in a different format as part of The Atlantic’s Notes section, retired in 2021.

Another anonymous reader uses the Notes space to tell her story of financial struggle—and perseverance:

I was born with a very rare genetic disorder. I received a brand-new lifesaving treatment just in time, long before it was FDA approved. When it finally got approved, when I was around four years old, it had a sticker price of $300,000 per year. And I would have to take it my entire life.

So my parents did a very prudent thing: My mother went back to school and got a quick teaching degree so she could qualify for the kind of generous health insurance you used to only get with a government job. Because of that decision, my family managed quite well. However, I knew from a very early age that financial security had to be a top priority for me.

My parents trained me from very early on that I would need top-of-the-line health insurance, plus extra cash for high co-pays. That meant I would need a certain kind of job and that I could not hope to make a career out of writing or music or acting—the things I really loved.

The obsession with financial security has marked so many of my decisions. I chose a less prestigious college that offered me a scholarship. I graduated in three years, taking extra classes and putting my high school AP classes to use, just to relieve the cost to my parents, who were paying what the scholarship did not. Instead of majoring in creative writing (my passion), I got an English degree with an eye toward law school.

And then, at age 21, I won $65,000 on Jeopardy (really). But ever wary of the astronomical health costs I would bear for my entire life, I did not blow it. Instead, I used a lot of it to go to a state law school in my hometown. During law school I lived with my parents and took the free city bus to school.

I graduated from law school debt free and remained in my low-cost-of-living hometown. Still, after I began earning a good salary, I saved and saved and saved—not because I worry a big expense might come down the road, but because I know the big expenses are coming.

I max out my $6,500 out-of-pocket limit every year. I max it out on the first prescription. The drug company reimburses me for a portion of that, but I have to float $6,500 every year. As a result, I never blow what I earn.

I just turned 29 and bought a very modest house. I’m still in my low-cost-of-living hometown. I had to dial down some higher aspirations because I know they could be financially disastrous and impact my health.

Yes, I work a boring job, but it is secure and pays well enough that I can build up a very large security fund in case the worst happens. But I still do the things I love; I write, I act, I play music. As much as I would love to be a starving artist or live a bohemian lifestyle, I know I could never do it financially. I’ll continue to be conservative with money my entire life.