There’s a lot of positive and negative things that can be said about the ripples engendered by Howard Zinn’s instrumental, People’s History of The United States. Depending on who you ask, its loudest cultural contribution, a reinvigorated disdain for wealth disproportion in America, either ignites Zinn’s legacy or engulfs it.
As a member of the generation that’s most enthralled by this ideological shift, I can say, it seems to have, at the very least, effectively punctured stigmas regarding poverty. Sometimes vapidly, i.e the cheeseneck bohemian dress up everyone’s obsessed with, but mostly via an empathetic and practical appraisal of what life in your twenties is actually supposed to look and feel like: ramen, thrifting and a lot of declined invitations.
As previously reported by Ladders, a parsimonious world view is slowly trading its pejorative for a badge among younger generations. There’s this sense of pride attached to adopting a frugal-minimalist lifestyle. Similarly, according to a new Turbo, “brazen-budgeting,” survey, 74% of Millennials feel absolutely no shame about telling their friends that they’re broke. The authors report, “We found that nearly three in four Millennials have never felt embarrassed to tell their friends they don’t have the money for an activity, compared to 41% of Baby Boomers. The 55+ age group is 1.6x more likely than their younger counterparts to feel uncomfortable confessing their lack of funds.”
The survey ran between October 14th–October 16th, 2019, and consisted of 1,000 participants. Sixty-eight percent of all of the respondents queried say they feel no shame in admitting they can’t afford something, though women of every generation involved were 1.3 more likely than men to feel shame disclosing their lack of funds compared to the rest.
No trend is compelling enough to sack affluence of all of its social prowess, unfortunately. While less young people feel embarrassed to confess that they don’t have any bread, this doesn’t stop 40% of this same sample from overspending in order to keep up with the Jim Joneses. The digital Jonestown, that is: platforms premised by outpacing your friends and family in the “I’m doing great, I swear-would a recently lost my custody battle manic depressive post a picture of avacado toast?”–race.
“People are still overspending to keep up, even though it’s clear their friends would understand if they couldn’t. That may be because it isn’t about the relationship they have with their friends at all — it’s about their relationship with social media,” finance researcher Charles Schwab told Turbo.
FOMO remains a persistent concern of Americans of all ages. The study’s authors offer a considered solution. At any given point, take out your phone and scroll any social media site for 20 minutes. Ask yourself how you feel afterwards. The answer will likely be a messy combination of bored, jealous, self-conscious and irritated. Social media can be an excellent resource to remain connected with your interests and loved ones, so long as you go in with that objective (exclusivity) in mind. Schwab concludes,
“Try muting accounts that make you feel bad about yourself and follow people and artists who inspire you instead. Social media is a tool, not a ball and chain. If you’re part of the 32% that winces at the idea of admitting your budget is tight, take the plans into your own hands. While being open with your friends is the best policy, it also helps to set up activities that don’t cost a thing. Try a movie night in, a group potluck, or a board game night.”
Healthy budgeting really does begin with internal honesty. You’d be surprised to learn how much money you actually spend when you stop spending with other people in mind. That can mean buying more rounds than you should to prove that you can, buying a pair of dumb whatevers because provisionally famous genius told you to, or even buying a bag of nonsense because you paid a visit to your rival’s Instagram account and they’re doing great. I think the difference between treating yourself and indulgence comes down to motive. Before you buy anything that isn’t a necessity or a gift, ask yourself if doing so would still be satisfying even if you were the last person on earth.