Issue #83/ Jan. 11, 2018

✨ Catch up on what ya missed this week ✨

 
unnamed (1).png

 
 

Markets Rally For Five Days Straight, U.S. Government Remains Shut Down

  • DON'T CALL IT A COMEBACK: At least, not yet. The markets rallied this week, posting the first five-day-long gain since September, CNBC reports. 

  • SHUTDOWN UPDATE: The ongoing government shutdown isn't just costing federal workers their paychecks. It could also cost the United States its triple-A credit rating, according to Axios

  • HE'S NOT RUNNING: Ex-hedge fund executive Tom Steyer held a press conference this week to announce that he is focusing on impeaching President Donald Trump instead of running for president, Institutional Investor reports. 

  • #METOO: Have you been watching Surviving R. Kelly? The Lifetime series is returning the focus of the #metoo movement to black women and girls, which according to one New York Times opinion piece, is where the focus should remain. 

  • FED FEAR: Federal Reserve chairman Jerome Powell said Thursday that he is worried about the growing pile of debt in the United States, CNBC reports. 


💰She Spends on Patreon💰 

We have covered our overhead costs, but our next goal is to pay writers and editors for contributed content, which will cost $300 per month. Consider supporting us through Patreon, and you'll receive shoutouts, extra newsletters and more in return.

She Reps.png
 
 

Nothing frOm us this week!

 
 

What We Can Do About Millennial Burnout

After reading Anne Helen Petersen’s Buzzfeed piece on millennial burnout this week, I felt extraordinarily discouraged. 

In her piece, Petersen vocalized so many of the things we talk about at She Spends like emotional labor and the struggle to do menial errands. 

It also touched on the larger struggle our generation faces: after years of being groomed to desire traditional success (the job, the house, the dog, the kids), what happens when we can’t get it?

When I shared it with the Facebook group, it was no surprise that it resonated. But like myself, many of the group members were left wondering, what now? If we’re so burnt out, yet so constantly striving for more, what can we do? 

The more I think about it, the more I believe that the answer lies in changing what we value, which is incredibly difficult to do. 

This is because even if we weren’t, as a generation, raised by parents who wanted everything for us and acted accordingly, we’d still be living in a system where the things we value the most supersede our longevity. 

Here’s what I mean: In the United States, we live in a financial system that prioritizes GDP growth as a measure of success as a nation. GDP, or gross domestic product, is simply a financial measure of all the goods and services we as a country produce during a set amount of time. 

At the same time that the value of our nation depends on GDP, the existence of our country — and the planet generally — is threatened by global warming. Climate change has increased over time as a result of our own consumption. And yet, we still prioritize GDP growth as a nation, which pushes consumption higher.

As individuals, we can barely make real change on these issues because our own lives, perhaps rightfully, take precedence. Our generation is buried under a veritable mountain of student debt.

What’s more is that on the individual level, our ability to lead a healthy life is based solely on the amount of money we’re able to make. That becomes clear when we consider our health system, in which if we want important healthcare procedures, we need money and insurance. 

It’s easy to see how this system continues to tell us that our lives could be better with more money. And, of course, to make more money, we need to become more successful. Even without pushy parents, we as millennials still would be on that hamster wheel of work and pressure that Petersen points out in her story.

So what could we value instead of GDP growth? For some, it’s community. For others, it’s religion, or ideas, or science, or art. I first started thinking about this on a personal level when I read The Communist Manifesto recently. The manifesto posits that our system values money — or “capital” — above everything else. I started to wonder what our system would look like if we shifted away from valuing capital, and instead picked something like ideas or community.

A system that prioritizes community over capital likely wouldn’t produce things in the same way. Ditto for any of those other values I mentioned above. And yes, to be fair, it's impossible for our national value system to change completely in a short amount of time. But, given current conditions in the United States, I think it’s important to consider what exactly we value, and how our lives are shaped around those values. 

We can do this on an individual level by taking stock of our worldviews, our consumption habits, how much we value material goods and services, and what actually brings us joy in this world. 

I found this blog post on determining what to follow on social media by To Universe With Love incredibly helpful in these considerations. As a result of reading the post linked above, I went from following a lot of influencers on Instagram who posted #topshelfies and brand promotions to following educational art and poetry accounts. It’s totally changed the way I use the Instagram app. 

I also found Jennifer Taylor Chan’s recent post on materialism helpful. It suggests envisioning our values in a pie chart. The more materialistic we are, the less room we have in our pie to value other things.

It’s also worth considering the system at large. I recommend two pieces from Longreads: “Beyond Growth” and “Happy Health Economy.” Both of these pieces discuss how our financial system would look if GDP was no longer the measure of success. 

I’m curious to know what you think, She Spends readers. Shoot me an email if you’d like to discuss. We’ll also post a thread in the Facebook group on this topic where the community can chat about these issues. 

 
 

TELL US YOUR SPENDING SECRETS!

We're sharing the spending secrets of one woman each week — completely anonymously. This section draws inspiration from Refinery29's Money Diaries and New York magazine's Spending Diaries (gotta give credit where it's due, right?) Click here to take our anonymous survey on spending habits. 

How a 25-year-old Virginia-based partner marketing manager spends:

  • SALARY: I make $60,000 per year as a partner marketing manager in Stafford, Virginia. I have asked for — and received — a raise before.

  • SAVINGS: I have $10,301 in my savings account right now.

  • MONTHLY EXPENSES: My mortgage payment each month is $2282. That includes the private mortgage insurance payment and taxes. I contribute to my 401(k), but I'm still on my parents' healthcare plan. My husband and I share a gym membership with a friend. It costs a total of $150 per month, which we split.

  • DEBT: I am in debt. I have $1,000 in credit card debt and a $2,000 car loan. I'm lucky to have no student loans. My interest rate on my car is so low so I only occasionally make an extra payment. For my credit card, I pay about $300 per month towards it, so it should be gone soon!

  • INVESTING: I invest through my 401(k).

  • SPENDING VICTORY:  The best thing I ever spent money on was my dog's adoption fee! I also love the couch I bought this year. 

  • SPENDING REGRET: I regret all my Amazon impulse purchases. 

  • CHARITY: The last charity I donated to was our local SPCA.

  • IF I WON THE LOTTERY: I would pay off my house! I would also purchase a luxury fashion item.

  • GOALS: I want to pay down my debt and then learn how to invest (and take the risk!) as well as focus on my retirement. Sometimes I wake up in a panic about it.

loosechange.png

Updates, blog posts and other important things:

  • FACEBOOKIN': We talked about pantyhose and financial priorities in the Facebook group this week. Join us!

  • CONTRIBUTE: Support us through Patreon! Your patronage can help us continue to create tools that empower women to hammer away at the glass ceiling. 

  • PATREON SPOTLIGHT: Shoutout to Patreon supporters Alexis Andreas, Jacob Bell, Lauren Bonner, Mimi Chiahemen, Emma Court, Rachel Creager, Maria Eisenberg, Sara Guenoun, Christine Hinojosa, Ellen Kern, Tim Livingston, Duncan Magidson, Carolyn McElhaney, Hanya Moharram, Emily Munson, Gracie Raver, Julia Reinstein, Bill C. Smith, Carmilla Tan, Anita Whitmore, Ally-Jane Grossan, Kristina King, Laura Porter and Sara Rosso. Couldn't do it without you!  

 
 

Like what ya see?

The best way to read She Spends is

in the comfort of your email inbox,

every Friday, every week,

at 8:30 am.

💥