Woman explains why everyone needs to normalize talking about their savings accounts

Life is expensive and it's not just the case for one country. Gas prices are rising regularly and so are taxes. The basic necessities from the grocery store that used to be affordable, seem like a luxury item to many. In a society hit with economic decline, the younger generation is struggling to pay off their student debts and find affordable housing facilities once they move out. Amidst all this, creator Hannah Lasche (@hannah.lasche) on TikTok is raising questions about why people are not talking openly about their savings and if they even have savings accounts. 

"Can we normalize telling each other what our savings accounts are? Because I really want to know," Lasche begins her video. "I feel like I see people saying that they have no savings and I feel like I see people having insane savings. I just don't know what the normal is." She continues that people can't compare their amount in savings with others because every individual leads a different life. But Lasche is still curious about the actual amount people have in their savings accounts. 

"I live in Australia," she explains. "People live with their parents after they graduate high school, in college and then even later. I know someone who still lives with their parents at 26. No shade at all. But they've lived with their parents the whole time. They have over $60,000 in savings. What? No. That's insane." Fellow TikTok users had some thoughts to spare on this topic and they left a bunch of comments to share their financial situation too.

@peppernaquin wrote, "I am 32 and currently have $100.20 in a high-yield savings account. That twenty cents was all interest baby!" @shan_m_stevens jokes, "There’s no way to save because there’s actually a rule where if your savings go over 3k, an appliance breaks." @taywilson5720 commented, "I don’t have a savings account. 34 years old. Hope this helps. I do have a $50 lottery ticket I’m saving for a rainy day though." @mustang_education shared, "My husband thinks his account is at no savings when it drops below 15K. Meanwhile, if mine has $50 in it I feel like an entrepreneur." 

@lo1234567886 quipped, "I work in a bank and let me tell you only baby boomers have a good amount of funds in saving. The rest of the generations sadly have no savings." @saradarling89 mentioned, "34 in America, I make 22 an hour and have not even a single hope of a savings account. I count myself very fortunate to just be able to pay all of my bills." @justyouraveragemadball added, "Just opened a high yield savings account last year, I’m 31 and just hit $5k and feel guilty for not having a better saving."

In reality, the newer generation, mostly comprised of the millennials and Gen Z, are taking a different approach to saving and spending compared to the older generations. Ex-Microsoft professional and sales engineer Hosanna Hali who goes on TikTok by @thetechcornr, shares regular videos with the community about her personal approach to money by "soft saving." "It is picking an activity that you know makes you feel so much better about yourself and having a monetary value attached to it," Hali told news.com.au about what "soft saving" is. In one of her videos, Hali described that she used to run the corporate rat race. That was until she realized that she could be happy and consider herself successful enough as long as she could pay her bills, go on expensive holidays and afford a good bottle of wine.

You can follow Hannah Lasche (@hannah.lasche) on TikTok for more lifestyle content.