It seems like all personal finance bloggers have to have a condescending post where they speak to the masses as if they are children and have no clue why they are poor or struggling. But, it’s the thing to do, so I decided to write one to be a real bonafide personal finance blogger.
Here Goes my Condescending Post
Make coffee at home.
Don’t eat out.
Don’t buy things you don’t need.
Get fewer manicures.
So reads the lists of “50 ways to save money and become a millionaire overnight” that every personal finance blog and website has. The theory behind this clickbait article is that everyone is really secretly rich, but they live in poverty because they misspend their money.
After all, poor people are poor because they don’t know anything about personal finance. If you stopped subscribing to every subscription known to man-kind, you would become as rich as Bill Gates.
After all, Bill Gates makes his coffee. (I don’t actually know if this is true, but it seems like the type of thing I would read somewhere).
The condescending tone of these posts implies that you (yes, you!) are spending so much money on silly things that if you stop, you become a millionaire! (Overnight!)
And I guess maybe these lists are suitable for some people. But, if you do all those things and don’t have enough money and aren’t saving, then you should stop.
Seriously. Stop. It’s stupid. (And maybe one day I will write one as well to get some clicks and perhaps also help someone save a dime) But what if you are one of those people (like me!) who read through those lists (avidly) and don’t have one thing to stop spending on?!
I don’t buy coffee; I don’t eat out. I don’t have subscriptions. Because here is the problem with the “blog” mindset. They want you to believe that everyone can be rich. Everyone really is rich, and here are a few simple ways to make that happen.
The thing is that if you were genuinely making “rich” money, then the coffee isn’t making or breaking you. And the thing is that a lot of people are not earning a “rich” salary. And it’s not necessarily because we don’t hustle enough.
Some people just aren’t going to be rich. And that is OK. You don’t have to be rich. You don’t have to make it big.
What you have to do is make it OK. And that means doing the best you can with what you got. And what you got is the middle-class salary that most of us are earning. Or the big paycheck in a big city where you can’t afford housing.
Now, don’t get me wrong- don’t buy coffee too often (I really never do, unless I am in an airport), and when you do buy something, make sure that it is within your budget.
We are very strict about budgets. But stop looking to get rich. Stop thinking that all it takes is a little willpower and fewer manicures to make that happen.
Live within your means. Spend what you can. Save WHATEVER you can. Work towards meaningful, achievable goals (Emergency Fund, Homeownership, Retirement Account) and stop feeling bad that you aren’t going to be super-rich one day. It is OK. Really.
Robyn Goldfarb
Hi! I am a millennial mom with a passion for personal finance. I have always been “into” personal finance but got inspired to start my blog after a period of extended unemployment. That experience really changed the way I viewed my relationship with money and the importance of accessible personal finance education.
You hit the nail on the head, you cannot just “frugal” your way to wealth. If you really want to be wealthy, you must take some steps that may be agonizing, or you’re just not ready for yet (see: https://contrariansaver.com/2020/02/13/why-you-cant-make-more-money/). And that’s OK too.
This is a GREAT motto: “What you have to do is make it OK. And that means doing the best you can with what you got. ” And I think this was actually a helpful post.
I have to say though, as someone with a blog that DOES have a giant list of ways to save money (way more than 50) on it, that my reason for writing it was nothing like this: “The theory behind this click bait article is that everyone is really secretly rich but because they spend their money badly they are instead living in poverty.” I’ve never once thought anything like that. My reason was to help the people who DO actually make enough money who are looking for ways to cut back so they can reach a goal.
I don’t think people “spend their money badly” — because everyone gets to choose what’s important to them. But I do get people emailing me saying there’s nowhere at all they can cut back, and they send their budget and it is FULL of places to cut back. They have things on it that I’ve never paid for in my life!
I also get people emailing me who really have nowhere at all to cut, and I just want to cry for them. *Their* best option is often to apply for social services if they haven’t already, and to do whatever they can to bring in more money. And many times (at least in normal times) there are more ways to do the second part than they realize.
People’s income and situations are all over the place. I know (because I have personally spent years earning way, WAY less than poverty-line wages) that it sucks to read articles that tell you to cut back on things you never had in the first place. But they DO apply to many people who also need help. I’m always happy to try to suggest other things too if folks contact me. Sometimes though that suggestion amounts to “buy yourself food first if you can vs. paying debt”.
I like the tone of this article and it’s the truth. Being frugal just gives you more money to save or invest but if you don’t do those two things properly you could lose everything. It takes overall knowledge of personal finance and dedication to its principles for you to get ahead. Financial independence is not easy, and no one in finance will ever tell you that, including these financial geniuses –> https://bit.ly/39idgJG
I enjoyed this so much! I really agree with what you’re saying. Cutting out coffee isn’t going to make anyone rich. I mean, if coffee extends you over your budget, that’s an important conversation, but the mentality that cutting all expenses will make you rich is not a helpful one.