It's not "doom spending." It's redefining the dream.
Prices are up. Student loan relief is likely off the table. And Social Security may not exist by the time millennials retire. With such a bleak financial outlook, you would think people would be stashing their cash in preparation for the Great Depression 2.0. But, if you believe the headlines, American society is collectively leaning into something dubbed “doom spending” — aka leaning into the “little treat” economy as a way to combat anxiety.
Pause for a second. The condemnations of this trend feels suspiciously similar to the latte-shaming of the 2010’s—this tired idea that we were sabotaging our golden years with every cappuccino we ordered. Yes, some millennials and Gen Zers are less than optimistic about their financial futures, now that buying a home is harder and saving for retirement can feel like climbing Everest. And maybe in response some are spending money they might once have saved. But does having a higher spend/save ratio mean they are giving up or being irresponsible? What if they are intentionally adapting their financial habits to a landscape that looks nothing like we were told to prepare for?
What does that look like? Gen Z is building careers with an eye on a different kind of retirement, while Millennials save for “adult gap years.” Neither generation is giving up on financial security; they’re balancing spending and saving so that they don’t forgo experiences they may not have again. For them, splurging on those suede booties or booking that weekend getaway doesn’t feel like a moral failing. A sustainable financial mindset isn’t about perfection; it’s about making a budget that allows you to live well now and later.
Quick Hits
You could be losing thousands on the resale value of your home if you have one of these types of tree in your yard. Guess money really doesn’t grow on trees.
The holidays aren’t cheap. But the 30/30 rule can help you keep spending — from gifts to decor… to a 12-pack of peppermint mochas — in check.
1974: Women were guaranteed the right to have credit cards and mortgages in their names. 2024: We’re outperforming Wall Street bros. Here's why it pays to invest like a woman.
Are we being “mega conned” by mega rolls? Apparently. Welcome to “the wild, nonsensical world of toilet paper math.”
'Tis the season for gifting panic. To the rescue: An under-$20 hostess gift you can stockpile from (where else?) Costco that outshines even the "Christmas candle."
Estate planning isn’t only for rich parents. Use this guide to map out your financial legacy regardless of whether you plan to have a kid.
Help Me Have a Tough Money Convo
Q: My husband’s parents are well off and really generous. They’ve contributed to our children’s 529 plans and often cover expenses during joint family vacations. Is it ever acceptable to ask about how they’ll allocate their money after they pass? I know it’s morbid, but knowing this could help us plan for the future, too.
-Not Prying, Just Planning
Featured Expert
Katherine Fox - Certified financial planner and founder of Sunnybranch Wealth.
You should absolutely discuss end-of-life and estate plans with his parents. Too many families feel uncomfortable talking about death and money. Still, you don’t want to come across as greedy, so avoid diving straight in with, "Hey, what's the plan for your money after you die?" Instead, focus early conversations on questions like: "Do you have preferences for end-of-life medical directives?" and "Have you thought about your will and estate plan?" (Related: Don’t Avoid the End-of-Life Talk With Your Parents)
Prepare yourself for resistance to these topics. Not everyone is comfortable thinking about their own mortality. Continue gently asking, and emphasize that your motive isn’t the money itself, but to better understand their wishes. (Related: The Great Wealth Transfer: Faucet or Fire Hose?)
One note of caution: I fully support planning for an inheritance, but I never advise planning on an inheritance. Even if your husband's parents are worth $10 million, and they say it's all going to your family, you shouldn't stop saving and planning for your future. Nothing is guaranteed. (Related: Managing an Inheritance: When Mom’s Money Becomes Yours)
Pop Quiz
You may think you don’t need life insurance if you’re young and healthy, and/or childfree…but that’s not quite right. Do you know who should actually be considering life insurance coverage? Give us your best guess.
A. Stay-at-home parents
B. Couples who live together
C. People with aging parents
D. All of the above
The answer: D. No matter where you’re at now, having the right coverage will help protect your loved ones in the future. Not sure where to start? Amica can help. They know life insurance isn’t one-size-fits-all, so they offer customized coverage options that fit your specific needs. And they’ve got thousands of five-star reviews on Trustpilot to prove it. Learn more about their empathy-first approach.
Wealth Builder
Your $5 Grocery Grab Bag
What it is: Too Good to Go
Save cash and fight food waste with Too Good to Go. The app sells “surprise bags” of unsold food from local spots (everything from bakeries to restaurants to grocery stores), often at the end of the day for around $5. You can get fresh eats for less, and they keep food out of the trash. Win-win. (PS: Urban dwellers or visitors will find more options than in rural areas.)
Key Features:
Free to download: Pay only when you make a purchase
Listings give you a hint as to what you’ll receive (e.g. a meal vs. pastries, or DIY ingredients) so it’s not a total surprise
Affordable way to taste-test local spots without a major commitment
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