What Does Personal Financial Responsibility Mean to Me?

by Mia Russo

"Save half, spend half." That was our family's motto. If I received $20 from my grandparents, I saw only $10—the other half went straight into my savings. At the age of ten, I hated this rule. Who needs to save money when you can spend it on something fun?

Eight years later, the lesson finally became clear.

College prices only go up, and being someone who is determined to be a doctor, I know that I'm going to pay that price twice—once for undergrad and then again for med school. My aspiring specialty is pediatric medicine because I love the resilience, creativity, and optimism kids bring to even the toughest situations. Last summer, wanting to get some experience, I volunteered in the emergency room. On the first day, I was instructed to sit and wait until a nurse needed me to run blood to the lab. Sitting by myself was not enough; I had to know, see, and help. During quiet moments, I read patient charts, noting which cases were dealt with most urgently and which medications were administered. I was afraid of being reprimanded, but I knew that learning was more important than fear. It was at that moment that I knew I wanted to be a doctor.

Today, I realize the financial responsibility and sacrifices I'm making now are investments in my future.

Medical school is not cheap. As reported by the Education Data Initiative, the average medical school graduate has $234,597 of student loan debt, with 73% of graduates having educational debt. The statistics make it clear: financial responsibility matters.

I'm making a special effort to minimize every bit of debt. I apply for scholarships, maintain excellent grades to secure merit-based awards, and take on as much work as possible. During my fourth quarter, my high school allowed me to work during the daytime, gaining funds for college expenses. I also practice intentional spending—whenever I consider making a frivolous purchase, I keep in mind that every dollar saved brings me closer to the finish line of attaining my goal of being a doctor.

Financial responsibility will not only help me get through medical school but also dictate my career path. Spending wisely will keep me anxiety-free and allow me to learn and not worry about my debts. It will also allow me to pursue a specialty for passion rather than pay. Someday, I would like to pay it forward, providing scholarships for future medical students who are as driven as I am.

As committed as I am to the years of practice and learning that it takes to become a doctor, I am equally committed to financial responsibility—ensuring that I reach where I am going without undue costs. Financial responsibility, to me, means more than saving up to buy the coolest shoes but rather investing in my career and my future.

Prior winners and their essays found here.