Tightwad Gazette but make it millennial
September 29, 2024 10:25 AM
Back when I was younger and poorer, I greatly enjoyed the Tightwad Gazette books for ideas and information on thrift/frugality. Are there any similar resources out there that are more aimed at poor Millennials?
I liked the Tightwad Gazette books because they were easy to read, inspiring, and while not exactly fun, they were interesting and not "heavy" like many finance books that go on dryly for many pages. The topics were articles rather than chapters, which quickly got to the point.
The audience in question are a pair of older Millennials who for various reasons, have not yet lived on their own (they have been living together, but always with someone else who was the lease holder) and have little concept of how to manage money. Neurodivergence is involved. They will be moving into their first own apartment together very soon. I plan to sit down with them and help them formulate a very simple budget plan. They both work but neither makes very much money. They should have enough to cover their rent, bills and other necessities if they are careful with their spending, but there's not a ton of room for fuckups.
One issue that is tripping them up is that they have no concept of frugality. Money is primarily for spending on fun things in their eyes, and they often wind up short when it comes to paying bills or necessities. They need to understand and be inspired to retain more of their money so they can cover rent, bills and food, by learning to meal plan and shop economically, find ways to entertain themselves cheaply, to plan frugal treats instead of spending, etc.
What are some resources that might appeal to them, particularly ones that take today's economic realities into consideration? Books, websites, etc? Any other thoughts on how to help/encourage/teach impulsive neurodivergent adults to manage their finances are also welcome.
I liked the Tightwad Gazette books because they were easy to read, inspiring, and while not exactly fun, they were interesting and not "heavy" like many finance books that go on dryly for many pages. The topics were articles rather than chapters, which quickly got to the point.
The audience in question are a pair of older Millennials who for various reasons, have not yet lived on their own (they have been living together, but always with someone else who was the lease holder) and have little concept of how to manage money. Neurodivergence is involved. They will be moving into their first own apartment together very soon. I plan to sit down with them and help them formulate a very simple budget plan. They both work but neither makes very much money. They should have enough to cover their rent, bills and other necessities if they are careful with their spending, but there's not a ton of room for fuckups.
One issue that is tripping them up is that they have no concept of frugality. Money is primarily for spending on fun things in their eyes, and they often wind up short when it comes to paying bills or necessities. They need to understand and be inspired to retain more of their money so they can cover rent, bills and food, by learning to meal plan and shop economically, find ways to entertain themselves cheaply, to plan frugal treats instead of spending, etc.
What are some resources that might appeal to them, particularly ones that take today's economic realities into consideration? Books, websites, etc? Any other thoughts on how to help/encourage/teach impulsive neurodivergent adults to manage their finances are also welcome.
You don't mention how these folks are neurodivergent, and it actually does matter. For example, systematizing, which is a huge asset wrt money management, can be an autistic specialty, but isn't typically a huge strength with ADHD folks.
A couple ideas:
How about a group read, chapter by chapter or section by section, of your favorite Tightwad Gazette books? You can go bit by bit, then perhaps do a brainstorming session post-read about how to implement the strategies you read about.
There may be some ways to gamify frugality practices. Ofc you don't want to reward each frugality practice with purchases, but these folks could for example throw a few coins in a piggy bank each week to save up for a reward like an especially appealing book or game.
Which spending behaviors could be replaced by equally appealing free or low-cost activities? Birdwatching? Stargazing? Note the dopamine-hit nature of these activities!
This podcast sounds like fun, perhaps more fun than reading. I might have to start listening to it myself.
posted by rabia.elizabeth at 11:58 AM on September 29
A couple ideas:
How about a group read, chapter by chapter or section by section, of your favorite Tightwad Gazette books? You can go bit by bit, then perhaps do a brainstorming session post-read about how to implement the strategies you read about.
There may be some ways to gamify frugality practices. Ofc you don't want to reward each frugality practice with purchases, but these folks could for example throw a few coins in a piggy bank each week to save up for a reward like an especially appealing book or game.
Which spending behaviors could be replaced by equally appealing free or low-cost activities? Birdwatching? Stargazing? Note the dopamine-hit nature of these activities!
This podcast sounds like fun, perhaps more fun than reading. I might have to start listening to it myself.
posted by rabia.elizabeth at 11:58 AM on September 29
You don't mention how these folks are neurodivergent, and it actually does matter. For example, systematizing, which is a huge asset wrt money management, can be an autistic specialty, but isn't typically a huge strength with ADHD folks.
ADHD definitely for her (officially diagnosed) and probably for him. She does have some autistic traits but it doesn't seem like systematizing is one of them. Both are impulsive, and seem to have a low tolerance for frustration.
posted by Serene Empress Dork at 12:16 PM on September 29
ADHD definitely for her (officially diagnosed) and probably for him. She does have some autistic traits but it doesn't seem like systematizing is one of them. Both are impulsive, and seem to have a low tolerance for frustration.
posted by Serene Empress Dork at 12:16 PM on September 29
A lot of millennial people liked You Need a Budget and I Will Teach You to be Rich.
posted by box at 12:31 PM on September 29
posted by box at 12:31 PM on September 29
I am an elder millennial and I like Ramit Sethi (I Will Teach You To Be Rich/Money For Couples - video podcast is here on youtube https://www.youtube.com/@ramitsethi)
Not as extreme as Mr Money Mustache in terms of frugality, but a more-or-less good balance of "you can have fun with your money, just save some first and make sure your bills are covered".
He has a "conscious spending plan"(his version of a budget- I think you need to sign up for his email list) that these people could use to figure out income coming in and how to plan to spend it.
Mr Money Mustache IMHO should be more like a second step for people who really want to get serious with frugality but I think the IWTYTBR ethos of 'if you don't waste money on stuff you don't really care about, you can spend money on what really matters to you' is an easier entry point.
posted by matcha action at 1:06 PM on September 29
Not as extreme as Mr Money Mustache in terms of frugality, but a more-or-less good balance of "you can have fun with your money, just save some first and make sure your bills are covered".
He has a "conscious spending plan"(his version of a budget- I think you need to sign up for his email list) that these people could use to figure out income coming in and how to plan to spend it.
Mr Money Mustache IMHO should be more like a second step for people who really want to get serious with frugality but I think the IWTYTBR ethos of 'if you don't waste money on stuff you don't really care about, you can spend money on what really matters to you' is an easier entry point.
posted by matcha action at 1:06 PM on September 29
Bitches get Ritchies is my go to source - I follow them on tumblr and by email. They’re funny and assertive with a strong social justice streak.
posted by dorothyisunderwood at 1:02 AM on September 30
posted by dorothyisunderwood at 1:02 AM on September 30
Specifically around food, Jack Monroe's Cooking on a Bootstrap (I learned about Monroe here on MeFi!) And for a U.S. focus, Leanne Brown's Good and Cheap.
The author Broke Millennial has an Instagram page and a Substack newsletter (most but not all posts are free to read), if those are modes of information delivery that would be more appealing than a book (which should be available at your public library and worth a skim!)
posted by spamandkimchi at 8:45 AM on September 30
The author Broke Millennial has an Instagram page and a Substack newsletter (most but not all posts are free to read), if those are modes of information delivery that would be more appealing than a book (which should be available at your public library and worth a skim!)
posted by spamandkimchi at 8:45 AM on September 30
With the caveat that both of these are 2010s publications and some specifics (especially travel) may not hold up as well (and the publisher is a comics press that includes adult content so while these links are direct to general audience content, if you are very NSFW-cautious, maybe don't click from a work device), Poorcraft and Poorcraft: Wish You Were Here are practical and approachable guides to living and traveling frugally, in comics form. There's also a cookbook, but I haven't read it, so that's an info point not a recommendation.
posted by EvaDestruction at 9:04 AM on September 30
posted by EvaDestruction at 9:04 AM on September 30
This is more on the personal finance than frugality end, but Paco De Leon's Finance for the People is a great introduction to money management that feels much more inclusive of folks from various identities than most other personal finance resources.
posted by mostly vowels at 12:05 PM on October 2
posted by mostly vowels at 12:05 PM on October 2
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posted by cakebatter at 11:53 AM on September 29