Money to young women is a bit like doing a set of burpees. Some people are amazingly good at it and some of us just can’t seem to get it right.
I recently took to Instagram to ask women in their twenties to describe how they felt about their money at this very moment,
To say the responses were diverse is an understatement. In one corner we’ve got the savvy savers declaring themselves “stable”, “comfortable” and “A+++ thanks to Barefoot [Investor] and being savvy AF”. But as I expected, it was pretty crowded in the other corner. Some responded with one word, others more depth, but the underlying response was the same. “I thought it would be easier to earn more money”, said one. “Utterly terrified,” said another. “Stressed,” proclaimed a third.
In fact, only about 12% of the responses were positive. The rest were a screaming reminder of how financially disconnected we young millennials are as a generation. I get it, and I’ve felt it.
I’m ashamed to say that in my early twenties, I didn’t even think I needed to save. I didn’t think anyone was saving. I was more concerned about my next ASOS order or my next girls holiday. With wages not budging and house prices rising, it’s no wonder we feel lost.
So we spoke to three women in their twenties about how they feel about their money, their income and where their financial lives are headed.
- Social media specialist + photographer
- Salary $55-75k incl. super and side income
Are you a spender or a saver?
Definitely a saver. My parents gave me pocket money every month as a kid and I'd save it so I could buy a toy every month. I've always had a 'float' amount of money in my account and feel super weird if it dips below!
Are you happy with your salary?
I'm happy with my salary! I'm 23 and only started at this job three months ago. There's lots of opportunity to grow and expand my skills.
What's your biggest money worry/problem/concern in your twenties?
Biggest concern would be the housing market. I’m not sure whether I'll be able to afford property where I want to live. Also unsure if purchasing a house is the right option given the climate and volatile nature of the housing market. I have to invest a lot of time learning about stocks and investments and wish there was more information taught throughout my schooling.