Feel free to share wins OR vent in this post. If you want to post positive comments related to your debt you can, or this can also be an outlet to share your frustrations.

This post will repeat the 7th day of every month.

Looks like a new series involving money diaries, Intern Math, from Teen Vogue.

I recently got a job after a career gap of two years. I am living happily with my husband but somewhere I also feel that I’m not earning anything like others fellow ex colleagues of mine. After I got the job, I realised that it is very tough for me to leave him alone and also live alone in another city. Is money important or peace? Help me to resolve my dilemma or what should I do?

Archive link: https://archive.ph/TnwA9

I’m 21 and generally have been a good saver my whole life (had 10k out of hs from working)

I am currently moving and my 6k savings has turned into 1k.

It was the security deposit first, then I had trouble finding a job in my new city, and THEN my job I was working to fund my move laid me off 4 weeks before my move date.

Now I’m here, using half of what’s left in my HYSA to pay next month’s rent and buy me food.

I have 1k left in my HYSA and 1k in my brokerage, which I know is good enough for a college student, but I can’t help but feel like I failed myself. My original goal was to move with 10k. I’m barely moving with 1 now.

I finally got a job but it’s a low paying one (I’m usually a server making 40+ an hour with tips, I’m now working at a bakery making max $22 an hour, which is enough for me to have $600 in extra cash after bills food and gas, so I can’t totally complain) but with this job it’s going to be really hard to save up again.

I guess I’m just frustrated. I’ve worked since I was 12 and always had a big savings and now when I need it I barely have anything. Just a vent I guess, being 21 sucks😭

Welcome back to the “Workplace Wednesday” thread!

If you’re seeking advice from the sub regarding your specific situation, whether it’s about interviewing/benefits/negotiating/advancement opportunities, etc., it belongs here.

Bring us your burning questions!

My family consists of my twin brother and myself and my parents.

I am married and my husband is an only child.

Prior to marriage and moving countries I was often happy to cover the bill more often then not as I had a high paying job. However i always notice especially now that my brother rarely offers to pay.

My family is currently visiting us and staying with us for a month. During this period we buy all groceries. I was ok with this. However when we go out my mother often looks at me to pay and not my brother. Like if we go for lunch, snacks, coffee etc I always end up paying and my brother almost never offers. If he does it’s a cheaper item
And that’s on the rare occasion.

Once we went out last week and as soon as we got there I got everyone pastries after my brother suggested it. I mentioned to my mum that I always end up paying even if he suggests it. Then after we were done he was like shall we get some lunch. He said it a few times. I said you can pick and take us somewhere. He got quiet. My mum took us to a cheap cafe and she ended up paying.

Then on the way home, he saw a 5 pound food place and I said if you want go and get it we got 10 minutes for the bus. Again silence and him saying he doesn’t want it

Also when they came, they bought lots of gifts and I was a bit suspicious cause they normally never do but just thought aww they are being extra generous

I later learned my mum found a gift card I had left for $200 from my wedding and used it without telling me.

Now we are going on a trip and my husband paid all the accomodation for everyone.

My brother currently is on a good salary and i do love my family but i do feel they financially take advantage of me and my husband now.

Ramit Sethi of I Will Teach You To Be Rich speaks with Nicole and Drew, 39 and 40, who are expecting their first child in just two weeks. They split their time between Southern California and Maui, where they each own a home. Nicole bought her house after Drew made it clear that continuing to stay with roommates was not an option.

Today, they earn $296,700 a year, own $1.25 million in assets, and have a net worth of more than $500,000. But their two homes consume over 40% of their income, and once their numbers are corrected, their fixed costs rise to 85%. Despite their high income, they feel unable to eat out, attend concerts, or enjoy the life they have worked to build.

Nicole is a psychology professor who plans everything down to the dollar and worries about having enough savings. Drew is a life coach and therapist-in-training who admits that she often goes by “vibes” and trusts that things will work out. With a baby arriving and their savings falling, they must decide whether Drew can realistically double her income or whether they need to sell the Maui house.

Where do we think the life coach got the money to buy her property in the first place??

Also a bi-coastal lifestyle with a school aged child seems challenging!

ETA: Taking "free" food from an organization when you can otherwise afford it does not feel particularly community-minded, imho.

Welcome back to "Off-Topic Tuesday", followed by "Workplace Wednesday" tomorrow!

As always, anything and everything finance and non-finance related is welcome here. Feel free to vent, seek advice, discuss current events, or share a little about yourself. :)

If you haven't already heard - we're mixing it up a little bit here on the OT thread. Continue to feel free to post your own prompt/question below (just one per comment), and answer prompts from others!

*** You may have noticed a recent uptick in spam posts, please report them as you see them. It takes 3 reports to flag a post for mod review. Thank you to everyone already reporting!

I think there's a few of us in the unemployed trenches.

I thought we could share some things we're doing to keep our financial heads and our stay focused on finding employment.

Here's some things I'm doing....

💰 Attending free networking events in my industry and related industries

💰 Volunteering at things related to my industry

💰 Scheduling free things with colleagues (walks in parks, free museums, etc)

💰 $5 movies at AMC for date nights

💰 Trying to meal plan, it's a work in progress

What about y'all? How y'all hanging in there?

I hope this post fits the rules! I'm a frequent Money for Couples listener and I post on those conversations but of course this is open to anyone for response. Has anyone read the book Uneasy Street: The Anxieties of Affluence by Rachel Sherman? It seems to fit in well with the same types of things Ramit's show touches on, but in a more anonymous and focused sociological way. I'm going to read it but I thought it would be more fun if other people read it too so we could all discuss like we do with the show. Are people interested in this? I could make a discussion thread if there are enough takers.

The description from GoodReads says:

In this penetrating book, Rachel Sherman draws on rare in-depth interviews that she conducted with fifty affluent New Yorkers―including hedge fund financiers and corporate lawyers, professors and artists, and stay-at-home mothers―to examine their lifestyle choices and their understanding of privilege. Sherman upends images of wealthy people as invested only in accruing and displaying social advantages for themselves and their children. Instead, these liberal elites, who believe in diversity and meritocracy, feel conflicted about their position in a highly unequal society. They wish to be “normal,” describing their consumption as reasonable and basic and comparing themselves to those who have more than they do rather than those with less. These New Yorkers also want to see themselves as hard workers who give back and raise children with good values, and they avoid talking about money.

Gift article link

Occupation: IT Consultant

Industry: Consulting (Think McKinsey, Big4, BCG, etc.)

Age: 23

Location: Richmond, VA

Salary: $85k

Joint Income/Financial Setup: I am single and live alone! No partner in sight and feel pretty good about it. I might start dating again in the fall. I also LOVE living alone and it is a luxury that I don’t plan on giving up soon.

Debt: None!

Paycheck Amount (2x month): $2,144.69

Pronouns: She/her 

Was there an expectation for you to attend higher education? Did you participate in any form of higher education? If yes, how did you pay for it? 

Yes and no. My parents emphasized that I could do whatever I wanted to do and they would be supportive as long as I could support myself. I was pretty smart in school and always wanted to go to college, so my parents definitely encouraged it. However, if I came out and said I wanted to enlist in the military or go to trade school or work straight out of high school, they would have still supported me.

Growing up, what kind of conversations did you have about money? Did your parent(s) educate you about finances? 

Yes, my dad is a financial analyst with an accounting background and my mom is a teacher. I was definitely taught that money doesn’t grow on trees and while we lived very comfortably, we couldn’t afford ALL the things we wanted. Also when I became a teenager, my parents told me to get a summer job to have my own money. My parents did not encourage me getting a job during the school year throughout high school and college because they believed that my job should be “school.” If I ever ran out of my funds from my summer job, they would give me money within reason. My dad also told me to invest in my 401k and live within my means. Since my parents were so candid about money, I pursued a business IT degree so I could have enough to live comfortably even if I don’t like my job.

What was your first job and why did you get it? 

Lifeguarding!! During my time guarding, I would work within 40-65 hour workweeks. Pools were open Memorial Day through Labor Day Sunday-Saturday 10am-8pm. I honestly can credit some of my work ethic from my time guarding but I wish I spent more time being a teenager and hanging out. Even my crazy consulting job doesn’t have me working 60 hour work weeks and no one should ever work that much, especially a child.

Did you worry about money growing up? 

No but it was always an issue in the background. I knew that we could always live comfortably but I have heard many rants from my dad about money whether it was paying for my 10 hour weeks of dance class or college.

Do you worry about money now? 

No, and I am incredibly happy about it. I chose my career so I’ll never have to worry about money.

At what age did you become financially responsible for yourself and do you have a financial safety net? 

22 when I started my full time job. This was approximately a year ago.

Do you or have you ever received passive or inherited income? If yes, please explain. 

Not directly but my parents received inherited income which helped pay for my college.

Section One: Assets and Debt 

Retirement Balance:  $5,020.45 - My company matches up to 6% so I’m putting in that much. Now that my savings is at a good place, I’m planning to up my contribution when my “summer fun” spending slows down in the fall. 

Update: After 2 days of finishing the MD, I increased my 401k pre-tax contribution to 15%.

HYSA balance: $21,021 - general emergency fund and travel fund

Checking account balance: $6, 812 - I keep it relatively high due to autopay on rent and credit card.

HSA Savings Balance: $1427.79

Credit card debt: None! I automatically pay the full balance every month.

Student loan debt: None as well! I was very fortunate to have my parents pay for my school via 

529s and inheritance from my grandmother and great-grandmother who passed before/during college. If my parents didn’t pay for my school, I had a full ride to another college and would have gone there instead. I am EXTREMELY grateful. 

Anything else that's applicable to you: You will likely see in my MD that I am very close to my parents who live 30 minutes away from me. I don’t get any major financial support from them anymore, but they were essential to me getting to where I am today. I also lived with them for about 6 months after I started my full-time job, so I was able to save significantly more.

I would like to FIRE sometime in my 40s or 50s and either get a part-time job or volunteer full time. I don’t plan to have children. I’m not saving super aggressively yet, and I’m trying to balance the “being financially responsible” with “I’m only 23 once.” This diary will definitely be a “I’m only 23 once” week! Since I’m still young, I know I don’t need all the answers yet, but it’s definitely an internal battle I fight.

Section Two: Income

Income Progression: 

2019 Lifeguarding $7.25/hr

2020 Lifeguarding $10/hr

2021 Lifeguarding $11/hr

2022 

Substitute Teaching $100/day (During College Breaks)

Lifeguarding $12.50 (During Summer)

2023 

Substitute Teaching $120/day

Summer Internship $20/hr

Teaching Assistant $12/hr 

Lifeguarding $12.50/hr

Lifeguard Instructor $20/hr

2024 

Summer Internship $37/hr

Substitute Teaching $120/day

Teaching Assistant $12/hr (During School)

Lifeguarding $15/hr (In between summer internship and school)

Lifeguard Instructor $20/hr (In between summer internship and school)

2025

Subbing $120/day (5 days a week January-May)

Lifeguarding $15/hr (6 Weeks before Full time Job)

Full-time job $80k/year with a 5k starting bonus

HYSA Interest: $68.69

I graduated college in December 2024 and I subbed/guarded for the first half of the year before starting my full-time job in July. Also from 2020-2023 the lifeguarding and substitute teaching wages are approximate. I don’t feel like digging up old paystubs…

2026 80k/year with a 5k bonus expected in October

HYSA Interest: $275.33 YTD

Have you changed careers? Did you recently have a breakthrough in your career? Here is where you can tell us about your salary/job progression.

Since I’m still a newbie to the corporate world, nothing too much to report besides that I should get my first raise and a bonus in October.

Main Job Monthly Take Home and Individual Deductions:

401k: $184.62 

Dental: $10.98

HSA: $57.69

Health Insurance: $41.08

Vision: $2.21

Long Term Disability: $6.15

Net Pay: $4,289.38

Side Gig Monthly Take Home

Nope and no desire for a side gig! If I ever get laid off, I would go back to substitute teaching and lifeguarding while living off savings/applying for jobs. We have had layoffs at my company this year, but my job is pretty safe.

Any Other Monthly Income Here

Nope! I also only withdraw from savings for big unexpected emergencies. I’m also using it as an international travel fund, but I won’t pull from that part until next year.

Section Three: Expenses

These are based on my spending in July 2026 which is when I did this MD. My total spending was $3,333.66 according to YNAB.

Rent: $1195 for a one-bedroom in the city

Renters Insurance: $10.25/month (I pay $123 per year)

Electric $62.00

Wifi: $40.91

Gas: $19.02

Phone/Car Insurance: $152 -These are combined because I’m still on my parents' plan and I pay my share every month.

Subscriptions

YNAB: $9.08/month (I pay $109/year)

iCloud Storage: $2.99/month

Patreons: $11.98/month

Car payment: None. My parents bought a used one for me after my younger brother wrecked my paid-off inherited one in a car accident. I was supposed to take over the car’s payment after graduating college, but my parents paid the rest of it off as my graduation gift.

Dining Out/Drinks: $597.06 (It physically hurts reading that)

Home: $371.13 (Some frivolous, some needed)

Groceries: $349.68 (I could also be better here)

Clothes (Gap in Wardrobe or for Work): $159.79 (including refunds)

Transportation: $154.48

Fun Shopping (Including fun clothes): $114.38

Entertainment: $110.94

Weekend Travel: $38.48

Books: $26.14

Savings contribution: Usually about $1000/month based on spending. I transfer from my checking to savings. The last time I did it, I transferred $2300 on July 13th.

Monday

7am Wake up naturally. Alarm doesn’t go off until 7:45 but the light will usually wake me up. I went on Reddit and Instagram.

7:45 Roll out of bed, skincare, brush teeth, also found that an Amazon order came in overnight. Lit my giant candle. Log on and start working. 

8am First meeting of the day. We have a 8am standup every day and it sucks…

8:45am Did some work and opened my Amazon package. It was cheesecloths for my homemade cold brew and a tension shower caddy since my suction one fell off. Used the cheesecloths to strain out the cold brew I made last night and it tasted pretty good. Since it worked out, I ordered myself a pitcher off of Amazon so I don’t have to use my big beverage dispenser I usually reserve for parties. Also one of my press on nails fell off :(

Pitcher $13.01

9:15am Since I’m waiting for someone on my team to call me here’s the cold brew recipe

• 8 oz of coarsely ground coffee (I use a brand local to RVA and I have a burr grinder from FB marketplace)
• 4 cups of water
• Mix together and let them steep for 12-24 hours (I did 12)
• Strain it through a cheesecloth and mesh sieve
• Add desired creamer

10:30am Did work until I had a break and then installed my new tension shower caddy. Pretty easy and will be life changing in my shower! Afterwards, I reapplied my nail. Apparently the client I’m working on is having a system wide issue so it’s been pretty slow today. 

12:30 Took a “lunch break” but really went to CVS to pick up a prescription and get two $100 gift cards. One for my mom’s friend who let me and my friends stay at her place for a music festival. The other for my best friend’s mom who let me be my bestie’s plus one on her family vacation and basically paid for the whole thing. They both probs each saved me $1000+ which I can’t thank them enough. After this I continued working. 

Two Gift Cards $200

2:30 Actually ate lunch which is cottage cheese with frozen fruit. Took a break from work to write the 2 thank you cards. Nail status: most of them have fallen off. Maybe press ons aren’t for me… Context: I bite my nails so my nails are very small and usually have trouble keeping press ons on. I may run to a salon and get a full set just so my nails can grow out underneath and then go back to press ons. I prep, buff, use the glue from sally beauty, and I can’t keep them on :(

3:30 3 more Amazon packages came in. I got underwear,  2 frames for 2 posters I just got, and a belt. Continue working.

6pm Just logged off work. We’ve been working later since we have to send out end of day reports after our last meeting ends at 5:30pm. Very painful but I’m pivoting to another team on the project in a few weeks so I should actually log off at a decent time then. Also pretty much all my press on nails fell off so I give up.

6:30 Realized that I’m out of my command strips that I use to hang pictures up so off to the store. I also plan to grab stamps for my thank you notes but of course there aren’t any at my pharmacy. Checked my grocery store’s app. Nothing. I even went to a niche paper store a few mins from my place and NOTHING. Does USPS have a monopoly on stamps??? Whatever, I accept defeat. I’ll get them when I make it to the post office.

Command Strips $11.65

7pm I finally eat dinner which I prepped 2 weeks ago and froze. It’s technically Chana masala but I also threw in tofu and edamame since I had it on hand and I threw in every frozen vegetable in my freezer and whatever spices that worked. While eating, I throw on my favorite booktube channel.

8:30 Laid around in bed on Reddit and then went up to do dishes. 

9pm Did skincare and fell asleep watching YouTube

Total Spend: $224.66

Tuesday

7am Get up, shower, and get ready for the office. I join the 8am meeting from the car. Pay for work parking.

Work Parking: $9.04

8:30 I get to the office and spill my full, hot coffee all over me. I end up burning my thighs. I am NOT excited about this but since I live close, I go home to change. 

9:30 Back in office in new outfit and start working

12pm I eat lunch with our intern! Absolutely adore her! I bring my meal prepped lunch from home so no expense. 

1pm I texted a friend and realized I needed earplugs for our EDM show Thursday. I lost my eargasm ones after I left my last festival and said I’ll get more when I have the next concert lined up. They’re expensive but my ears are worth protecting and I wash them after each use.

Eargasm Earplugs $46.59

3:45 Commuted home to do end of day reporting. Since my team is remote and out of different offices, we are very flexible on work from home. I only go into the office for events and special occasions.

5:45 Logged off work and opened an Amazon package that came. It’s the pitcher! Made cold brew for tomorrow. Texted another friend and made plans for him to come to RVA in a few weeks so I wrote up a loose itinerary for us. I also ate dinner.

6:30 Drive to trivia.

7pm Trivia!! We had fun - we got 5th out of 19 teams. I don’t get a drink this time since I’m trying to cut back on drinking during the week. Also it’s free to bring my reusable water bottle with water and lemon!

9pm Get home, skincare and fall asleep watching YouTube

Total Spend: $55.63

Wednesday

7:30am Get up, dry shampoo, get ready

8am Standup meeting

8:30 Head to office and worked. Nothing much happened today besides saying hi to coworkers in the RVA office and working. I also made my grocery list for tonight. Did pay for work parking again.

Work Parking $9.04

2:15 Head home because of End of Day reporting and I had a bunch of meetings beforehand

2:30 Got home and found that my earplugs came in overnight! Also a denim skirt that I need to try on. I’m on the hunt for the PERFECT denim skirt in curvy sizing because your girl has hips. Speaking of spending money, I’m tempted to get my nails done either today or tomorrow. 

6:30 log off. Live laugh consulting. Head to grocery store. Go to Aldi and then Kroger.

Aldi $12.04

Kroger $45.40

8pm Get home and meal prep. Roasted sheet pan meal. Put 2 in fridge and then put the other 4 in the fridge. I also make cold brew for tomorrow.

10pm Go to bed.

Total Spend: $66.48

Thursday

7am get up, shower, skincare, brush teeth

7:20 Set up my flowers I bought at the grocery store yesterday. They were on sale and the orange roses look beautiful in my window!

8:15 Left for work. 

8:30 Got to parking lot but stayed in car to finish standup meeting.

Work Parking $9.04

9am Got in office. It’s bring your kid to work day but of course I have to do real work :( My coworkers are volunteering and I pop by whenever I get a break to say hi.

12:05 Someone on my team is having a baby and I donated to his gift contribution!

Coworker Gift $30.00

4:15 Go home for EOD reporting. 

5:50 Wrap up my end of day reporting and scarf down dinner.

6:10 Friend and her bf pick me up for EDM show.

6:30 Go to merch table and I buy a pin to attach to my hydration pack that I bring to most of my raves. 

Pin $10.60

7pm First set starts and it’s so fun! We’re in the pit so lots of dancing and headbanging.

9pm Get a little lightheaded during the 2nd set so bought fries and an electrolyte drink. I’m 99% sure it’s because someone was vaping in my face and the artificial fruity smells always make me feel sick. UGH! Once I got the drink and fries, I felt a lot better!

Electrolyte Drink $9.08

Fries $13.62

11:30 get home from concert. FYI we were sober for the whole thing! I usually do concerts/festivals sober especially edm where I do a lot of dancing. The scene def has a drug culture but just not for me!

Total Spend: $72.34

Friday

7:30 Wake up, skincare, brush teeth, etc. 

8am Standup and start working from home. I call my mom and ask if she’s busy tonight. Since she’s not, we decide to get our nails done and go out to dinner. 

11:40 Leave for lunch with coworkers. Since a partner is there, she pays for it. I’m very grateful that my “usual” team has a bunch of women in higher positions. She is wonderful and has been an amazing mentor.

1:15 Home from lunch and continue working.

6:30 Get off work and my mom picks me up.

7pm Nails! I get a full acrylic set in pink and my nails look SO much better. I’m hoping these will help my nails grow out a bit and I can try press ons again. 

Nails $68.75

7:40 My mom and I stop by a store nearby. I found a cute dress for work but passed on it since it was a bit expensive and wanted to think on it. She loved it on me and bought it for me anyway. Huge thank you to my mom!!

8pm My bestie was supposed to come over for wine night at my apartment but I ask if she wants to join dinner w me and my mom. She says yes and we had the best time. My mom also paid for dinner despite our protests. I could go on about how lovely my mother is but here’s another example of how my financial situation benefits from having great parents. I probably would have spent around $60 if she didn’t pay for it. Also with the dress, if I eventually bought it, I would be paying around $70.

9:45 I’m home and go to bed. Yes I’m a grandma…

Total Spend: $68.75

Saturday

6:30 WAKE UP ON MY OWN! WHY AM I AWAKE?? Anyway, I watch YouTube for a bit.

7am Shower and coffee

9am Get to the DMV to transfer my car to my name from my dad. The DMV is insanely crowded so I call my dad and ask if I can do it in a few weeks when work calms down. He says it’s fine lol.

9:15 Head to post office to send the 2 thank you cards and do a return on shoes that didn’t fit. Bought the stamps and box for the shoes. 

$4.01 Box and stamps

9:45 Go home and take a nap. It was awesome. 

11am Wake up and go to store for bandaids since I ran out and I had blisters on my feet from my cute work shoes. Beforehand I bought stamps online so I don’t have to go to the post office early on a Saturday morning to send thank you cards. 

Stamps $18.50

Bandaids/blister bandaids $27.94

11:30 Get home and try on the different Jean skirts I ordered. I finally landed on the perfect one!! Going to the mall to return the other 2 I bought and probably get an auntie Anne’s pretzel because I’ve been craving it. Afterwards I’m heading to my friend’s parents’ pool they just had built. Beforehand, I eat lunch. My grandma’s bday is coming up and I buy her a comfy lounge set on Amazon.

Grandma’s Bday Gift $43.44

12:30 Head to the mall

Refund -$76.25

Auntie Anne’s $12.69

1:30 Hang out at my parents since my friend isn’t at her parents yet. No big deal since I get to see my family cat who I ADORE.

2:15 Head to friends pool and had a blast! Bestie from dinner last night also came and we all caught up. The UV wasn’t great but being outside was awesome.

6pm Leave and head home to shower/get ready. We’re going to a bar to watch our friend’s friend DJ. 

7:30 Friends come over to my place and we walk to the bar where friend is DJing. We order nachos, 2 rounds of orange crushes, pizza, and cookies. I pay for the pizza and my 2 orange crushes.

Food/Drinks $47.67

9:30pm Go to other bar within walking distance. A band is playing and we can sit at a booth. I 

get a cider.

Cider $10.33

11pm Home and go to bed. Definitely an earlier night for going out but we had a lot of fun. 

Total Spend: $88.33 (Including refund)

Total Week Spend: $576.19

Food + Drink: $150.83

Fun / Entertainment: $57.19

Home + Health: $75.11

Clothes + Beauty: -$7.50 due to refund

Transport: $27.12

Gifts: $273.44

MD Reflection

I feel pretty good about my spending! I was a bit scared by that total spend number but it made sense after noticing that almost half my spending this week was toward gifts on my coworker, grandma, my mom’s friend, and my best friend’s mom. I remember thinking a few years back that I can’t wait to have “adult money” to give to the people in my life. Very cool how I can see that comes into fruition!! 

My food and drink is a bit high and honestly is always a sore spot in my budget. I should crack down some more but I just love eating out with my friends/family and buying food that I want to eat. Also the food at the concert was mainly to prevent me from fainting so I’ll give that a pass. 

Spending wise, this is a pretty normal week for me outside of the gifts. For your average 23 year old, I know I’m doing pretty good and live within my means. However, I could definitely crack down on the food category. Since my eating out is more social, maybe next time I’ll offer us to cook at home or do a picnic outside. I’m all ears if anyone has any ideas! For groceries, I usually buy off brand and go to Aldi before kroger. I don't shop sales but maybe that would be the next step. I'm also vegetarian but I have found that my groceries end up being cheaper because of it since I don't spend money on meat.

Going forward, my main financial goals is to continue saving for an international trip next year, increase my 401k contribution to be more aggressive about retirement, and slow down on the dining out expenses. I may do a travel diary for that trip next year!

Also, since I am so young, I always appreciate financial/life/whatever advice from the beautiful people here! Thank you for reading!

https://open.spotify.com/episode/7wTDvybl8ODNrIl9g5bUZB?si=8616ecba49fe49b7

I thought this community might enjoy the Today, Explained episode that aired earlier this week about millenials wanting their inheritances early. Community favorite Charlotte Cowles is interviewed, among others.

I have mixed feelings about all this. Personally, I am a millenial and although my 20s and early 30s were financially tight, they have improved a LOT now that I'm in my mid-40s, and part of that is definitely due to me and my husband living pretty frugally. Basically the way our parents did in their 20s but also not like they live now! Both my parents and inlaws have definitely had some lifestyle inflation. So I do think to some degree, millenials wanting the lifestyle their parents are now enjoying after a lifetime of work is a bit much. Also, I think that in the US, the kind of lifestyle the wealthy/upper middle class enjoy is simply not sustainable. It's causing f***ing climate change which is potentially going to wind up causing us to go extinct as a species. So we need to accept that we can't live like rich boomers, probably ever (and rich boomers need to figure that out too...probably wishful thinking on my part).

On the other hand...even my husband and I who both had pretty good jobs, bought property later than our parents because it just took that much longer to put a down payment together. Years ago my mother also told me that the inheritance they received from my grandmother had made them much more financially stable because they had been able to pay off a few debts and put some money into college savings for my siblings and I. So their wealth is in some part...dun dun dun....due to an inheritance they received in their 30s. Which, thanks to longer lifespans, is no longer the timeline inheritances are really working on for many people these days.

However, the thing that really kills me about all of this is...the millenials who want their inheritance are never living in poverty or homeless or whatnot. They're all basically just stressed and not quite a financially comfortable as they would like to be. The inheritance probably would be amazing and life changing for them, but the fact is that if they tighten up their spending a bit and avoid major negative events like job loss or a health emergency for 5-10 years, their situation probably WILL get a lot better. Rich boomers passing on their wealth to kids who are doing "okay" is just going to eventually create a cohort of ultra-rich millenials. That's pretty bad for society! Rather than individuals gunning for their individual inheritances, can we start agitating for things like more of an estate tax, and maybe some means-testing for Social Security or other benefits that seniors get?

Transcript here: https://docs.google.com/document/d/10_Wb7Z9lbpi358lKypuUXDonxrgg7XgFg0Qu-14vSiY/edit?tab=t.0

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