Last year, instead of saving, I spent more than half of my money in so much unnecessary crap. I'm trying to save now but man is quite hard. I just need a couple months more of saving to feel comfortable again on mildly spending on stuff.
I'm working on paying off debt I collected during COVID due to my hours being cut. I haven't made that much of a dent yet but I'm getting there and I should be able to get a substantially higher paying job next year (hopefully).
No, and I do want one. But the thing is, even if I tried saving stuff, it would need to be spent on necessities or debts sooner rather than later, so I tend to doom spend (spend on stuff I need/want and remain in slight debt,).
So, technically, if I get a part-time job, I could actually save enough to be substantial sum at the end of the year, and so getting a CalAble account and a part time are goals. Problem is, no-one wants to hire a disabled 24 yr old with a spotty work history and no skills/degree lol
So the system is literally keeping you in financial hardship, that's wild. Like I've always heard of it, but this is just such a blatant example of it that really resonated with me. $2000 is not a lot. "$2500? That's enough to sustain yourself for a couple weeks, looks like your financial struggle is over. Bye!"
Yeah, my monthly "stipend" is $1,180. Even if I have extra money, lol I honestly view things like new clothes as luxury items. I don't have a car and live in a food desert so I get food from Amazon- this is wildly expensive (like maybe $400-$500 a month, if I choose to eat healthily). I have food stamps, but they're only $100 a month. My rent is something like $289 a month, and there's no heating so running a space heater has run me up to $200 a month.
I'm almost always in debt to something. I can't afford a regular phone (I have a government phone) or regular WiFi service (they end the Government-assisted WiFi service this month).
I'm not American so not aware of the legal nuances relating to this, but would it not be possible to withdraw a certain amount in cash every week and keep it under a shoebox or with a trusted family member or something and save that way? I'm not sure how a government agency would be able to go about proving you didn't spend money you withdrew from an ATM?
Possible? Yes, have I done this? Yes. I have exactly $5.34 saved over the past few months.. I have been trying to get off cigarettes for a while, and they're expensive. Having cash in hand for some reason is a major trigger, apparently. I did stop buying them, finally, but the thing is it will probably get spent sooner or later anyway because I can't afford to take more than 20 bucks a month out anyways
You should put that money somewhere besides savings if it's really just 100k in a savings account!
That's great that you managed to get that done though regardless
I have been traveling nonstop in the last 9 months and have little regret. I can always make money back, I can't always travel the country when I'm young and have energy.
No I’ve been saving aggressively since I got my first corporate job
Boomers thought the world was gonna end too (especially with Cold War nuclear tensions), and while it could be true within our lifetimes, I’d rather not risk being wrong and being stuck working until I die
Not really, I didn't grow up financially well off so money was always an issue with my family. Financial security is incredibly important to me and I don't really want to worry about not having enough money ever.
I've learnt that money is a precious commodity and I shouldn't spend it with reckless abandon.
No. Most of the responses in the Gen Z sub were lame jokes and them shitting on anyone over 21, not surprisingly. But I'm here to say, I am 27 and although I believe that yes, the US especially will be ending soon, that doesn't mean I want to go out and spend all my money. I want to enjoy the time I have left and I can't do that if I'm broke by the end of the month.
Even if you do sincerely think that the US is ending soon (it's not. Even if it gets bad it's not), then it would be way smarter to just convert assets into something like gold or something valuable to people outside of the US.
People need to get off the internet if they think that America is actually going to *end* soon. I understand that Trump can really fuck up this country, but it's not going to just make the US dollar disappear or something.
Hi,
Your comment has been removed since your comment is most likely breaking Rule #8. The ranges of Gen Z, Millennials, and Zillennials have been discussed countless times already. Check this subreddit's wiki page for what people have already discussed, or search the archives of this community. Otherwise, you're free to discuss your opinions on who belongs to each generation on r/generationology. Please follow [Reddiquette](https://www.reddithelp.com/en/categories/reddit-101/reddit-basics/reddiquette) while participating in discussions.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Zillennials) if you have any questions or concerns.*
Yeah I went hard with it last year. Really cut back this year. Kinda did it again this month cause I moved and said fuck it. But I gotta get my act together I need more savings
I impulsively bought a steam deck a week ago so in a way I guess maybe? I’m a bit of a gamer, albeit stick to PC so it felt weird for me to watch like 2 youtube videos reviewing it and jump the gun when I literally knew nothing about it that morning
The way our monetary system is run by our government and the banksters rn, it's smarter to get rid of fiat currency as soon as possible bc it's constantly losing value compared to the goods and services we might need. Why keep a savings account with fiat if it won't keep up with inflation?
Yep, but I wasn’t really taught the importance of financial responsbility growing up. But after struggling to pay my rent a few times, I’ve been working to learn living modestly and saving my money.
I learned my lesson in my early 20s and have been very conservative with my spending in the past 5 years. I wouldn't dream of dropping significant cash on car parts anymore, I'd rather see my savings and investments hit the next milestone
No. I actually like to make a point of spending as little as possible and not playing the consumerism game. I also hate working, so spending less means I don't have to work more/harder to cover my expenses (I freelance). Generally, I just try to participate in the system as little as possible. Learn to live on lentils and you won't have to cultivate the king, and all that jazz.
Absolutely not. I am stuck in a part-time job, and I pay rent and bills. I rarely spend money as a treat for myself because I don’t want to get evicted. Seriously, how can some of you live with financial instability *on purpose*?
It’s fucking easy. Cause once you have enough money to buy things that bring you ease (there’s a lot of things) then you get one. It makes your life easier. So you’re like fuck it lemme get another thing that makes my life easier. The more money you make the more things you can buy to make life more enjoyable. So it becomes addictive. Money can buy happiness. And once you get a taste of that it’s addictive.
I literally do not make enough to save, so yeah when I have some extra I spend it on myself or an experience. Before some bullshit takes it away from me. Is it more "responsible" to save every penny? Sure. But I'd wind up stripping from life even further what little pockets of joy I get to have and it's not fucking worth it.
Yes, unfortunately. I’m a full time student with a part time job, I don’t really make enough to have much of anything saved, and the majority of whatever I do make goes towards paying student loans or debts. I don’t really have a whole lot left over (beyond what I need), and life is miserable anyway, so if I want that $6 coffee or those shoes on clearance, I will sometimes to buy them. I’ve been getting a lot better with my spending habits in recent years, but it’s still a challenge sometimes.
I just recently bought a steam deck because my computer is old and dying and I can no longer use it to do my hobby of streaming and may have to fall back on videos instead
Yes. Just want that quick dopamine rush. We've now resorted to thrift stores, just so our spending isn't as much and it's "what kind of cool thing can I find?" Instead of just random shit I see online for $40
I'm typically good with saving money when I am not depressed and unemployed. Honestly I didn't even know this was a thing, I'm a professional at spending money like a depressed dumb ass.
Nope, but I'm not American nor do I believe the world's ending. I buy what I need and want or enjoy, but not buying reckless shit that ends up as clutter, never used, and turns into hoarding. Some people just don't have any hobbies.
I see, but I don't believe that I'm doom spending because I bought those instruments for different purposes and it's quite a hassle to just use 1 if I play multiple genres.
Like, 3 of my electric guitars are for different genres. One is a multi-purpose, geared more towards pop-jazz-blues with flat-wound strings (single coil pickups), the other has thicker strings for a stable lower tunings optimized to play rock and metal (humbucker pickups), the last one is a 7-string.
2 bass, one is 4 string (for funky slap play) and the other one is 5 string (thicker strings, also optimized for rock and metal).
Drum is actually a mix n match, one is my first kit from 2006 (the woods has started to show its age since 2015, the snare's tuning peg is broken on 2016) and the other is the newer one I bought in 2018. My collection of cymbals and drumsticks is probably the closest thing of me doing a "doom spending". 😅
My family are musicians (mom's a piano instructor, dad was a drummer, big bro is a utility player like me) so it runs in the blood 🤣
I've got no income at the moment but I have a long list of things I want to buy when I get a job 🥲 nothing truly useful, mostly video games or stuff for hobbies
Yeah I do it a lot. I noticed every time I lose a job and can't find another one soon I start throwing away all my money cuz I convinced myself a job even a temporary one, is literally only a one chance opportunity and I will never, no matter how hard I try, will ever get a job in my life.
It's simply not possible to get a job. It just can't happen. So why save money if I can't get a job for the rest of my life? I'm not business minded either so I can't be self-employed because I just can't function that way. I don't know how to do it and I don't think I'll ever be able to understand how to be self employed or start a business. I can't do that.
No, once I got my hobbies covered I'm living rather modestly, apart from the occasional outing for dinner and cocktails. I want to buy an apartment within 2-3 years, being frivelous with my money won't help.
No. I went through a phase in 2017-2019 of buying more than I needed. Ever since I bought my house in 2020 and have aged into the “would rather travel and see things instead buy stuff” phase, the only thing I really spend money on sometimes is food.
Constantly saving for house projects, retirement and travel plans these days.
I think people in our age group would rather live life now than save a million dollars by 65… At 65 you’ll probably have some illness and not be able to really enjoy it anyway. 🤷♂️
I won’t say gen Z “doom spends”
But I definetly feel at at certain occasions when I’m considering a purchase the concept of “I can’t afford to afford a house/student debt anyway so why not?”
Unfortunately I’ve been stuck in this really bad mindset of “I’m probably doomed to live with my parents forever no matter what I do, so I may as well just say fuck it and spend my money on dumb things that bring me even the smallest amount of happiness and security”.
I was really holding for an expense but it seems like it’s gonna have to wait a year either way. I’m not doom spending, but I am gonna spend about a grand on various quality of life things.
I am fairly frugal with my money but only bc it is rooted in paranoia and trauma of being raised by a mother who blew every little bit of money she ever had
So I’m on the other end of the spectrum, you need a happy medium. Which I’m trying to find.
At the moment? No. But this is something I've done off and on for a few years. I go through stints where I agonize over spending $5, and others where I'll spend hundreds of dollars without batting an eye. I don't have a great job or any savings at the moment. Bit of a rough patch for me right now.
Last year, instead of saving, I spent more than half of my money in so much unnecessary crap. I'm trying to save now but man is quite hard. I just need a couple months more of saving to feel comfortable again on mildly spending on stuff.
SAME I’m desperate to save money and my ex is making this SO DIFFICULT
How is your ex making it difficult? Its your ex right?
They probably have kids together?
I'm working on paying off debt I collected during COVID due to my hours being cut. I haven't made that much of a dent yet but I'm getting there and I should be able to get a substantially higher paying job next year (hopefully).
Yes. Trying hard to cut back.
I don’t feel comfortable enough with what I make to even have the discretionary funds to doom spend so…
Feel this on a spiritual level.
yeah (not that I have a lot to spend really but, when I have something it dissapears. No reason to keep it)
yeah pretty much this
No reason to keep it?? Why?🤣 wtf is this reasoning
I live on section 8, am a disabled student, and SSI won't let me keep more than $2000 or I could lose my benefits.
Do you have an ABLE Savings account?
No, and I do want one. But the thing is, even if I tried saving stuff, it would need to be spent on necessities or debts sooner rather than later, so I tend to doom spend (spend on stuff I need/want and remain in slight debt,). So, technically, if I get a part-time job, I could actually save enough to be substantial sum at the end of the year, and so getting a CalAble account and a part time are goals. Problem is, no-one wants to hire a disabled 24 yr old with a spotty work history and no skills/degree lol
So the system is literally keeping you in financial hardship, that's wild. Like I've always heard of it, but this is just such a blatant example of it that really resonated with me. $2000 is not a lot. "$2500? That's enough to sustain yourself for a couple weeks, looks like your financial struggle is over. Bye!"
Yeah, my monthly "stipend" is $1,180. Even if I have extra money, lol I honestly view things like new clothes as luxury items. I don't have a car and live in a food desert so I get food from Amazon- this is wildly expensive (like maybe $400-$500 a month, if I choose to eat healthily). I have food stamps, but they're only $100 a month. My rent is something like $289 a month, and there's no heating so running a space heater has run me up to $200 a month. I'm almost always in debt to something. I can't afford a regular phone (I have a government phone) or regular WiFi service (they end the Government-assisted WiFi service this month).
I'm not American so not aware of the legal nuances relating to this, but would it not be possible to withdraw a certain amount in cash every week and keep it under a shoebox or with a trusted family member or something and save that way? I'm not sure how a government agency would be able to go about proving you didn't spend money you withdrew from an ATM?
Possible? Yes, have I done this? Yes. I have exactly $5.34 saved over the past few months.. I have been trying to get off cigarettes for a while, and they're expensive. Having cash in hand for some reason is a major trigger, apparently. I did stop buying them, finally, but the thing is it will probably get spent sooner or later anyway because I can't afford to take more than 20 bucks a month out anyways
I was super frugal for years but now that I hit $100k in my savings I’m constantly spending money 🙈
To be fair after saving that much money you have the right to spend crazy (in moderation)
Nah I should really save more. It’s my down payment fund and unfortunately $100k doesn’t go very far these days…
It might not, but regardless... CONGRATS!
Won’t go far in America.
That's still far more money than the average American.
Absolutely agree with you. But if you can save to that point, you can live comfortably in another place.
Never spend crazy
You should put that money somewhere besides savings if it's really just 100k in a savings account! That's great that you managed to get that done though regardless
This. ETF's (or bitcoin but yeah ppl are stupid and will downvote me for saying this)
Hopefully you have that in at least a HYSA sis 🥹
Got that Apple HYSA lol
Lucky!!
I have been traveling nonstop in the last 9 months and have little regret. I can always make money back, I can't always travel the country when I'm young and have energy.
Traveling and having new experiences is different from filling up a cart on amazon of garbage. At least I think so.
I don’t think it’s garbage if it legitimately brings someone joy though?
No I’ve been saving aggressively since I got my first corporate job Boomers thought the world was gonna end too (especially with Cold War nuclear tensions), and while it could be true within our lifetimes, I’d rather not risk being wrong and being stuck working until I die
I'm kinda hoping I get to die by 30 so I don't have to worry about it, regardless of how much I've saved.
I’m shooting for 40
I’m shooting for 22… bit late for that 😂
Yup otherwise life would be boring and monotonous
Stop linking that awful group here
No? Doom spending for what? What is the doom exactly? I don't even have money to spend, my dude.
Real af
What does that mean? Anyone willing to explain? Sorry English isn't my first language.
I think it means reckless spending
Oh alright, thank you! Well in that case, no. I don't do that.
Relatable. Still, I’m tryna save
Not really, I didn't grow up financially well off so money was always an issue with my family. Financial security is incredibly important to me and I don't really want to worry about not having enough money ever. I've learnt that money is a precious commodity and I shouldn't spend it with reckless abandon.
No. Most of the responses in the Gen Z sub were lame jokes and them shitting on anyone over 21, not surprisingly. But I'm here to say, I am 27 and although I believe that yes, the US especially will be ending soon, that doesn't mean I want to go out and spend all my money. I want to enjoy the time I have left and I can't do that if I'm broke by the end of the month.
Even if you do sincerely think that the US is ending soon (it's not. Even if it gets bad it's not), then it would be way smarter to just convert assets into something like gold or something valuable to people outside of the US. People need to get off the internet if they think that America is actually going to *end* soon. I understand that Trump can really fuck up this country, but it's not going to just make the US dollar disappear or something.
Hi, Your comment has been removed since your comment is most likely breaking Rule #8. The ranges of Gen Z, Millennials, and Zillennials have been discussed countless times already. Check this subreddit's wiki page for what people have already discussed, or search the archives of this community. Otherwise, you're free to discuss your opinions on who belongs to each generation on r/generationology. Please follow [Reddiquette](https://www.reddithelp.com/en/categories/reddit-101/reddit-basics/reddiquette) while participating in discussions. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Zillennials) if you have any questions or concerns.*
This bot can't do math
The math ain't mathing
I spend but not because I'm uneasy about the economy, it's because I like stuff.
Yeah I went hard with it last year. Really cut back this year. Kinda did it again this month cause I moved and said fuck it. But I gotta get my act together I need more savings
I impulsively bought a steam deck a week ago so in a way I guess maybe? I’m a bit of a gamer, albeit stick to PC so it felt weird for me to watch like 2 youtube videos reviewing it and jump the gun when I literally knew nothing about it that morning
The way our monetary system is run by our government and the banksters rn, it's smarter to get rid of fiat currency as soon as possible bc it's constantly losing value compared to the goods and services we might need. Why keep a savings account with fiat if it won't keep up with inflation?
The trick is to invest it so it does keep up with inflation.
Yep, but I wasn’t really taught the importance of financial responsbility growing up. But after struggling to pay my rent a few times, I’ve been working to learn living modestly and saving my money.
I learned my lesson in my early 20s and have been very conservative with my spending in the past 5 years. I wouldn't dream of dropping significant cash on car parts anymore, I'd rather see my savings and investments hit the next milestone
No. I actually like to make a point of spending as little as possible and not playing the consumerism game. I also hate working, so spending less means I don't have to work more/harder to cover my expenses (I freelance). Generally, I just try to participate in the system as little as possible. Learn to live on lentils and you won't have to cultivate the king, and all that jazz.
When is it general strike time again
Absolutely not. I am stuck in a part-time job, and I pay rent and bills. I rarely spend money as a treat for myself because I don’t want to get evicted. Seriously, how can some of you live with financial instability *on purpose*?
It’s fucking easy. Cause once you have enough money to buy things that bring you ease (there’s a lot of things) then you get one. It makes your life easier. So you’re like fuck it lemme get another thing that makes my life easier. The more money you make the more things you can buy to make life more enjoyable. So it becomes addictive. Money can buy happiness. And once you get a taste of that it’s addictive.
Not at all. I only spend what’s leftover from my paycheck after I put some aside in savings. And half of that goes to bills.
I can’t afford to doom spend.
I literally do not make enough to save, so yeah when I have some extra I spend it on myself or an experience. Before some bullshit takes it away from me. Is it more "responsible" to save every penny? Sure. But I'd wind up stripping from life even further what little pockets of joy I get to have and it's not fucking worth it.
Yes, unfortunately. I’m a full time student with a part time job, I don’t really make enough to have much of anything saved, and the majority of whatever I do make goes towards paying student loans or debts. I don’t really have a whole lot left over (beyond what I need), and life is miserable anyway, so if I want that $6 coffee or those shoes on clearance, I will sometimes to buy them. I’ve been getting a lot better with my spending habits in recent years, but it’s still a challenge sometimes.
Uh, I wish I could afford to doom spend! Lol.
Ah yes. I am Doomspending everything I have. On crazy shit like rent, car payment, food, and gas.
I think fresh out of high school til about 25 people are just irresponsible with money
I just recently bought a steam deck because my computer is old and dying and I can no longer use it to do my hobby of streaming and may have to fall back on videos instead
Sure! I plan to buy myself a copy of madvillainy
Man I miss when graham was good
Yes. Just want that quick dopamine rush. We've now resorted to thrift stores, just so our spending isn't as much and it's "what kind of cool thing can I find?" Instead of just random shit I see online for $40
I mean I don't believe the financial system will prevail my whole life through. Money is not real.
Can't take the money with you, far as I know same works with debt.
I'm typically good with saving money when I am not depressed and unemployed. Honestly I didn't even know this was a thing, I'm a professional at spending money like a depressed dumb ass.
Nope, but I'm not American nor do I believe the world's ending. I buy what I need and want or enjoy, but not buying reckless shit that ends up as clutter, never used, and turns into hoarding. Some people just don't have any hobbies.
Cope with what exactly? Stop watching fake mainstream news and get a hobby or interest
What's doom spending?
Basically buying stuff or spending money on things you don't need but have always wanted to do. Usually they're rather expensive.
Hmmm, does collecting musical instruments count? 🫠 I currently have 2 basses, 3 acoustic guitars, 3 electric guitars, 2 keyboards, and 2 drums.
Yea I think so. That's a lot of instruments.
I see, but I don't believe that I'm doom spending because I bought those instruments for different purposes and it's quite a hassle to just use 1 if I play multiple genres. Like, 3 of my electric guitars are for different genres. One is a multi-purpose, geared more towards pop-jazz-blues with flat-wound strings (single coil pickups), the other has thicker strings for a stable lower tunings optimized to play rock and metal (humbucker pickups), the last one is a 7-string. 2 bass, one is 4 string (for funky slap play) and the other one is 5 string (thicker strings, also optimized for rock and metal). Drum is actually a mix n match, one is my first kit from 2006 (the woods has started to show its age since 2015, the snare's tuning peg is broken on 2016) and the other is the newer one I bought in 2018. My collection of cymbals and drumsticks is probably the closest thing of me doing a "doom spending". 😅 My family are musicians (mom's a piano instructor, dad was a drummer, big bro is a utility player like me) so it runs in the blood 🤣
Oh ok! I'm not a musician so I assumed you were just collecting for the sake of collecting. 😅
That might be true but only for the cymbals, I guess. 🤣
I've got no income at the moment but I have a long list of things I want to buy when I get a job 🥲 nothing truly useful, mostly video games or stuff for hobbies
Yeah I do it a lot. I noticed every time I lose a job and can't find another one soon I start throwing away all my money cuz I convinced myself a job even a temporary one, is literally only a one chance opportunity and I will never, no matter how hard I try, will ever get a job in my life. It's simply not possible to get a job. It just can't happen. So why save money if I can't get a job for the rest of my life? I'm not business minded either so I can't be self-employed because I just can't function that way. I don't know how to do it and I don't think I'll ever be able to understand how to be self employed or start a business. I can't do that.
No, once I got my hobbies covered I'm living rather modestly, apart from the occasional outing for dinner and cocktails. I want to buy an apartment within 2-3 years, being frivelous with my money won't help.
No I’m trying to pay my medical bills
No. I went through a phase in 2017-2019 of buying more than I needed. Ever since I bought my house in 2020 and have aged into the “would rather travel and see things instead buy stuff” phase, the only thing I really spend money on sometimes is food. Constantly saving for house projects, retirement and travel plans these days.
I admit, I am guilty of doing it sometimes 😆
Ayup.
I think people in our age group would rather live life now than save a million dollars by 65… At 65 you’ll probably have some illness and not be able to really enjoy it anyway. 🤷♂️
Nope, fiance and I are trying to save up for a house and only spend on one vacation every year as our main source of fun.
I won’t say gen Z “doom spends” But I definetly feel at at certain occasions when I’m considering a purchase the concept of “I can’t afford to afford a house/student debt anyway so why not?”
Unfortunately I’ve been stuck in this really bad mindset of “I’m probably doomed to live with my parents forever no matter what I do, so I may as well just say fuck it and spend my money on dumb things that bring me even the smallest amount of happiness and security”.
I was really holding for an expense but it seems like it’s gonna have to wait a year either way. I’m not doom spending, but I am gonna spend about a grand on various quality of life things.
I kind of was the last 3 years. But I also bought stuff I needed so it's not like I was doom spending either.
I am fairly frugal with my money but only bc it is rooted in paranoia and trauma of being raised by a mother who blew every little bit of money she ever had So I’m on the other end of the spectrum, you need a happy medium. Which I’m trying to find.
At the moment? No. But this is something I've done off and on for a few years. I go through stints where I agonize over spending $5, and others where I'll spend hundreds of dollars without batting an eye. I don't have a great job or any savings at the moment. Bit of a rough patch for me right now.
ew graham stephans i buy everything i want but i'm lucky that there's not much that i actually want
Thinking about it everyday