Ryan in a now-viral tweet questions the suggestion given to young people to constantly manage their finance.
It has been ingrained in a lot of us that it is important to manage our finances judiciously, with claims that it would map our trajectory in life. Not only the parents, but society as a whole encourages people to save and cut off on desires in order to save and build a happy future. But, the question is, does it actually work? Does the action of saving deliver the fruits it promises to? According to Liz Ryan, the answer is a firm 'No.' The author and HR personnel shared an important tweet explaining how judicious humans are in their saving but were sabotaged by a system that is rigged against them.
I wish folks would stop telling young people how to manage their money. I paid $310 for my first apartment. Based on inflation, it should go for $850 per month now but the rent is $1600. You can’t “personal finance” your way out of of greedy landlords and depressed wages— Liz Ryan, CEO, Human Workplace (@humanworkplace) February 9, 2021
The system is always out of reach for people belonging to the working-class section of the society due to the obstacles in its way. Hence, the suggestion that in order to garner security young folks should save might not be a fair one. Maybe the ultimate happiness is not in these big savings but instead, the small joys that are often deprived of in the name of 'financial management'.
Ryan goes on to give a personal example of the system's greed outpacing the ability of people in this society. She states, "I paid $310 for my first apartment. Based on inflation, it should go for $850 per month now but the rent is $1600." This example shows the massive difference that exists between the demand for real estate and the potential of a working-class civilian. This difference is impossible bridge even with financial management. Liz Ryan explained that a house that should have been priced for $850-900 was being prized at 310 dollars. It reflected a steep rise that simply doesn't match the rise in wages.
Hence, no matter how much people try they cannot handle the greediness displayed by the forces at play as their wages can never manage with their uncontrollable desire. Therefore, Ryan's wish for people to stop their preachiness towards young people in regard to saving is apt. The tweet became extremely popular during its inception with 108.5k likes and is again garnering attention on Reddit with 5.8k upvotes. The appeal of this tweet lies in the fact that it showcases the brutal picture of the society that does not care one bit for its people. This harsh realization serves to make people realize that society and its gains might not be the healthiest priority to have, rather it should be focussing on family, friends, and making moments that make life worthwhile.
People really enjoy giving out financial advice that might have worked in the 70s but has basically been nonsense ever since. It's a universal generational hobby at this stage.— Tengushee (@Tengushee) February 10, 2021
@Tengushee agreed with Ryan's assertion that suggestions regarding financial management to young people especially in this environment are illogical. The user believes that this suggestion might have worked in the 70s, but since then it has been of no use. On Reddit @RevolutionaryLie2833 also shared their own story regarding the greediness of the Real Estate that outpaces the ability of people. The user shared how during Covid when everybody was hit by some kind of loss, the greediness of landlords was at an all-time high. The rent was raised by almost 500 dollars. This reflects the attitude that the authority has towards its civilians which is exploitative and selfish.