3 Money Experts Reveal Their First Jobs and What They Taught Them About Money

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Many of us launch our working life when we’re still teenagers. We may take a summer job as a lifeguard or get a gig bagging groceries at a supermarket. These jobs may not end up connecting in any obvious way to the careers we embark on later, but they can help set the stage for our futures. At our first jobs, we may develop skills, realize the importance of time management and learn what it really means to make money in the real, or perhaps real-ish, world. 

Our first jobs, whether we love them, hate them or don’t really care about them, are a formative experience and one that can shape our perceptions about personal finance. GOBankingRates spoke with money experts to find out what their first jobs were and what they taught them about money. 

Lesson 1: It’s All Too Easy To Waste Money  

Dr. JoNataye Prather, PhD, MSW, PSM-I, project manager/business consultant at Nationwide, landed her first job at a local seafood restaurant at 13. Unlike some of her coworkers, she didn’t need the money. 

“I worked alongside adults who depended on their paychecks to survive, while for me, it was just ‘play money,'” Prather said. “Instead of saving or investing, I spent my earnings on food, clothes, getting my nails done and styling my hair — typical teenage indulgences. My parents likely wanted to teach me responsibility, and while I did learn the value of hard work and independence, I also learned the hard way what happens when money isn’t managed wisely.” 

Looking back, Prather wishes she had received better financial guidance because “I had no real direction for my money,” she said. 

Lesson 2: Money Needs a Purpose

Prather was reckless with the money she made at her first job, but that recklessness bore a lesson, in time. It taught her that money, in a sense, needs to be needed. If you don’t need money to pay for your costs of living, then assign other important needs to it. Perhaps you need to save or invest. 

“I now prioritize financial planning, ensuring every dollar I earn has a purpose,” Prather said. 

Lesson 3: Hard Work Doesn’t Always Mean Financial Freedom   

Prather’s first job also taught her that hard work doesn’t necessarily pay off. In other words, you can work your tail off and still be living paycheck to paycheck, as many of her adult coworkers were. Seeing their struggles made Prather think about the kind of career she wanted — and the kind she didn’t want. 

“I knew I didn’t want to spend my career standing on my feet for hours on end, barely making ends meet,” Prather said. “This pushed me to think beyond hourly work and explore ways to create long-term financial stability.”  

Lesson 4: Being Even a Little Bit Off With Money Can Be Ruinous 

At 16 years old, Louann Millar, youth and student consumer product director at Wells Fargo, was under a lot of pressure at her first job working as a cashier at McDonald’s. She had to account for all the money in the cash drawer at the end of every shift.  

“I quickly realized how ‘being off just a little bit’ could add up over the course of each shift,” Millar said. “I learned to be very diligent about giving customers the correct change. There was no room for mistakes!”

Lesson 5: Don’t Settle For a Job That Doesn’t Make You Happy 

In her first job as a pool equipment operator, Melanie Musson, a finance expert with Clearsurance.com, learned that making money can actually be a lot of fun. 

“A job doesn’t have to be a drag,” Musson said. “I loved going to work, and after working there, I decided I would never settle for a job I hated. I could be happy and make money.”

Lesson 6: Watching Your Savings Grow Is Rewarding 

Musson ardently saved money she made from her first job and, in doing so, found that watching your savings grow is incredibly rewarding. 

“I loved it so much, in fact, that I avoided spending money at all costs,” Musson said. “I knew I wanted to go to college without taking out loans and watching my savings grow was a fantastic feeling.”

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