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Op/Ed

Why the Millennial money anxiety? Our wealth is shrinking faster than past generations

(EDITORIAL) Boomer bank accounts are next on the list of institutions the millennials will kill! There’s plenty of reasons why but is there a way to avoid a generation war?

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millennial angst

Is ‘We’re hella poor’ the inverse of ‘I walked uphill, both ways, in bread bag shoes’?

Maybe there’s something to that old-time religion ‘death and life are in the power of the tongue’ stuff after all. Because I swear, if I have to read one more accredited, empirical study about how yes everyone who grew up with frosted tips and those weird, tiny sunglasses really is as poor as they say, I’ll be hospitalized with Terminal Sigh Syndrome.

Seems like starting a preemptive GoFundMe might be a good idea, because the stories are going nowhere faster than any given water-treading public school teacher. New data from the U.S. Government indicates that wealth is shrinking faster for the Millennial generation than any other in the past.

We’ve been through this for the past decade. College costs are up. Housing costs are up. Fuel costs are up. Employed experience requirements are up. Yet wages are being held down like employers nationwide are ride or die chicks gone horribly wrong. Bubbles are expanding and thinning every which way you look, and level 0 economics students can suss out how effed we are.

The cry heard through all of age group 23-38 has been rising like our sea levels. Now, with the Federales’ information blast on generational wealth and lack thereof adding to the pile, “inflation porn” just took on a whole new, SFW meaning.

But it’s not safe for work is it? No one’s work is safe. No one’s money is safe. Even The Man® says so.

Think the implications of these volumes upon volumes of findings only spell doom for the young and the fundless? Think again, dear reader.

I’m already seeing it now, and so are you. Fast food places are proudly sticking ‘Start at $10, $12, $15’ per hour next to their hiring signs. Apartments are running move-in specials for years on end, and pushing resident referrals like they were caught in a Scentsy scheme.

Smell that? It’s desperation.

People around my age, people with the dwindling modal income of people around my age, and the poor Gen Z’ers watching my generation yell at their grandparents are getting wise. We know that our apartment complexes aren’t at capacity. We know that no one else can take this demanding job without our skills. Sure, we’re stuck. But the adhesive is beginning to trickle upwards.

This is what’s going to happen to employers:

They will have a workforce of well-off, well-educateds who will leave you after the raises don’t come because they have access to the best financial advice, and a safety cushion.

They will be bereft of admin, cleaning, and maintenance staff, because the younger generation can’t afford to live where you need them.

They will have to accept that this means they’ll either lose time by doing things like booking their own flights, or they’ll have to suck it up and start paying people more.

This is what’s going to happen to landlords:

Their properties are going to stand empty longer.

Non-disparagement lease clauses are going to get ignored just like they ignore busted mailboxes.

They will have to accept that this means they’re losing money as less moneyed people flee the areas they concentrated their buying in, and moneyed people end up not filling the gap because those areas are ‘for poors,’ and their investments will stop making returns.

No matter how you feel about the issues, the fact remains: The combination of degree creep, economic inflation, wage stagnation, rising costs of living, lack of thorough public services, and us ‘snowflakes’ being BLASTED with trustworthy news about all of it on such a regular basis means you either are or are dealing with a generation constantly on the edge, and increasingly collaborating on locating outs instead of competing for crummy ins.

The crabs have stopped trying to climb each other out of the bucket, and we’re daring the cook to put his hand in here and make our claw-clickin’ day.

And unless our elders and richers are reaching out with a good salary/benefits/non-crumbling countertop attached to some tongs, these paranoid pincers are going to nip ‘em up GOOD.

We’ve got all the documentation. The pudding is 100% proofed, and ready for flambéing.

Howsabout we throw a match, and get it off the table already?

You can't spell "Together" without TGOT: That Goth Over There. Staff Writer, April Bingham, is that goth; and she's all about building bridges— both metaphorically between artistry and entrepreneurship, and literally with tools she probably shouldn't be allowed to learn how to use.

Op/Ed

Kakeibo: The Japanese art of spending wisely

(EDITORIAL) If regardless of how much money you make, it seems like you’re always short a buck, take a hard look at how you are spending. It could save you a lot.

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control your spending

Raise your hand if you have cash in your wallet.

What is a wallet you ask.

I jest. I know you know what a wallet is. (I hope.) But, sometimes I wonder if cash will go the way of the rotary phone. Seems most folks I know use debit cards, Venmo or their phones to pay for things nowadays.

Ever notice when you go to the store and have a debit or (worse) a credit card at your disposal, your plan to spend $20 ends up more like $50-$100. For example, anyone who shops at Target knows that when they ask you at the checkout, “Did you find everything you needed,” the answer is “ugh… Yes, and then some.”

Living in a plastic economy has made us less cognizant of how we spend money. But, leave it to the Japanese to have a system for putting the thought into buying. It’s called Kakeibo (pronounced kah-ke-boh) and it translates to “household finance ledger” and it’s something most Japanese folks learn to use from the time they are wee children.

The system began in 1904 and was “invented” by a woman name Hana Motoko (also known as Japan’s first female journalist), according to an article on MSNBC. The system is a no-frills way of approaching finances, whether personal or business.

Now, some folks are great at keeping a budget and knowing where the money is going. My mom, for example was the best bookkeeper. Unfortunately, her skills with money didn’t pass down to me. So, I actually purchased a Kakeibo book to try and get my finances in better shape.

You don’t need some special book (save your money), though you can find lots of resources online, including these downloadable forms, but in actuality all you need is a notebook (preferably one to take with you) and a pen. No Technology Required.

If you have been spending money and not knowing where it is going, then it’s going to take some work to change your habits around money.

In her article on MSNBC, Sarah Harvey says what makes Kakeibo different than using an Excel spreadsheet or budget software is the act of physically writing purchases down – it becomes a meditative way of processing spending habits. “Our spending habits are deeply cemented into our daily routine, and the act of spending also includes an emotional aspect that is difficult to detach from,” Harvey says.

As a business owner or entrepreneur, it is also easy to get sucked into believing you have to have new technology, systems and bells and whistles that maybe you don’t need – just yet. Spending goals for a business, just like a personal budget, are important if you plan to stay on track and not lose sight of where your money is going. Lord knows the money flies out the door when starting any new project.

Based on the Kakeibo system, there are some key questions to ask before buying anything that is nonessential (whether for your home or business):

• Can I live without this item?
• Can I afford it? (Based on my finances)
• Will I actually use it?
• Do I have space for it?
• How did I find the item in the first place? (Did I see it in an IG feed? Did I come across it after wandering into a store, am I bored?)
• What is my emotional state today? (Calm? Stressed? Celebratory? Feeling bad about myself?)
• How do I feel about buying it? (Happy? Excited? Indifferent? And how long will this feeling last?)

For Harvey, who learned about Kakeibo while living in Japan, using the system forced her to think more about why she was making purchases. And, she says it doesn’t mean you should cut out the joy of buying, just possibly making better choices when needing retail therapy on a crappy day. She found the small changes she was making were having a positive impact on her savings.

How to be more mindful when spending:

• See something you like, wait 24 hours before buying. Still need it?
• Don’t be a sucker for sales.
• Check your bank balance often. Can you afford what you’re buying?
• Use cash. It’s a different feeling having that money in your hand and letting it go.
• Put reminders in your wallet. What are your goals? Big trip. Then, do you really need new headphones, a bigger TV, a new iPhone, etc.
• Pay attention to what causes you to spend. Are you ordering every monthly service because of some Instagram influencer or, because of some marketing you get online. Change your habits, change your life.

Using the Kakeibo system of a notepad and pen or a Kakeibo book for the process can help you identify goals you have for the week, month and year and allow you to stay on track. Remember, cash is still king.

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Op/Ed

Social isolation can literally kill you – we need each other

(EDITORIAL) Social isolation and aloneness have bigger consequences than most people realize.

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introspection ask yourself

Can isolation kill you?

Starling birds are often considered a pest because these birds are abundant and usually come in mobs.

Researchers studied the effect of isolation on common starlings and found that when the birds were separated from the flock, it caused increases of the stress hormone, corticosterone. These gregarious birds did not handle isolation very well.

“We live in a society bloated with data yet starved for wisdom. We’re connected 24/7, yet anxiety, fear, depression and loneliness is at an all-time high. We must course-correct,“ said Dr. Elizabeth Kapu’uwailani Lindsey.

We need other people.

Loneliness and isolation have the same effect on humans. Researchers from Brigham Young University found that loneliness increases the risk of mortality by about 26 percent. Social isolation has a little higher risk, 29 to 32 percent.

Most people tend to feel lonely or become more socially isolated as they age.

Some experts believe that middle-aged men are most susceptible to loneliness and isolation.

Loneliness is a subjective feeling, and it’s just as damaging as being socially isolated.

The researchers pointed out that someone who is happy to be alone still suffers from social isolation and thus, the increased risk of death.

On the other end of the spectrum is a person with a lot of social connections, but who does not actually connect with another person face-to-face. This loneliness is not good for people.

When you’re feeling lonely, it’s not enough simply to interact with others. You have to make an emotional connection. People cannot read your mind.

When you’re lonely, you have to let others know.

If you have a support group, reach out. If you don’t have a network of friends and family, you are going to have to create one. For me, it’s my church and community organizations.

You might find friends at the gym, in a theater group, or through volunteering at your local animal shelter.

Go and play cards with a person in a nursing home or just talk. You might be saving their life through your connection by keeping them from feeling alone while also helping yourself.

This story was first published here in 2018.

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Op/Ed

Career pauses can feel painful but can lead to new avenues

(EDITORIAL) My job pause(s) lead to a complete career change…maybe. While at times nausiating, they can lead to refreshing new outcomes

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Career change

What’s worse than stand-still traffic?

The start-stop traffic.

In a standstill, you know where you stand…still. In stop n’ go n’ stop again traffic, you have no clue. You go from 5 to 50 again for all of three feet then back to 5. Eventually, you don’t even care about getting to your destination anymore just so long as the tedium ceases.

My jobs went almost exactly the same way.

Retail work, career work. Retail work, career work. Retail work, career work. And each time I had to take a pause, I didn’t have enough time, money, or interest to keep up with the rising trend of ‘content creators’ who can film, edit, script, photograph, edit THOSE, AND do blogs and emails replacing copywriter positions. So I just stayed scrambling until I could ‘relax’ into a career gig that ended shortly for one reason or another.

Even though I left each advertising job under different circumstances, in late 2019, I realized ‘Okay, maybe it’s ME. Maybe if I’m this frustrated with the traffic, I need to pull off the road.’

The last shift saw me go from copywriter, to house cleaner, to heavy metal head shop gal, to moderating freight brokerage in the span of two months. Hell of a detour…

Of course now that I’m out of full-time work in the field I sold my credit score to break into, the guilt of having left a career I soured on to break into a field I didn’t need to go to college at all for is…crushing. And new beginnings, with wages to match, are hard no matter who you are.

However, this shame and heaviness is all coming from the inside. My parents are proud, my friends are happy for me, and I have yet to hear anyone actively dumping on my decision to purposely exit the salaried copywriting field. And even if everyone sucked about my choice, it wouldn’t change the fact that so far it’s the best one. At some point, you gotta shake yourself by the shoulders, borrow from Mrs. Knowles-Carter, and scream: Suck on my job cause, I’ve had enough.

Why deal with a stigma when you could deal with stigmata, right? Those are way cooler. And I’m pretty done with wounding myself either way.

Multiple small, panicked hiatuses taught me something. Some things. First thing: truly powerful screaming comes from the belly, not the throat. Most relevant thing: I don’t want to write for other people, nor for brands that can’t use some variant of my own voice.

I thought I was a copywriting mimic octopus who could change colors, shapes, and textures to suit an environment, but this whole time I’ve been a chameleon— always keeping my funky fresh shape, and only changing colors to suit how I feel, or to attract mates. Gentlemen.

I’m not going to act like career pauses are some great thing in which to discover yourself and do some eat, pray, love BS. I quite literally almost died of a bad infection during a time I was on a pause with no heath insurance. The pauses were financially and mentally draining, and if it weren’t for extreme strokes of good fortune in several places, I wouldn’t be in a position to write this piece.

What I will say is that I was able to bid the misshapen phoenix cycle I was on a phrantic pharewell, at least I think so. Anything’s liable to change, such is life.

For now, there is only to bag up the ashes and try to use them in fertilizing my next steps.

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