Earlier this week, media coverage of Alexandra Ocasio-Cortez's savings account made large waves on the internet. NBC suggested she 'only' had $7,000 dollars in savings, as though that amount of money in an account is abnormal for people Ocasio-Cortez's age.
Sad, but true. Millennials (people born between 1981 and 1998, in this study) have an average of $24,190 put away in both bank accounts and investment accounts. However, the median is only $2,430.
But ultimately, we should be sharing with our peers (and our congresspeople!) what our financial lives look like. It's a great way to assess societal needs to ensure equality and beat traditional structures that keep people from financial health, such as gender inequality, racism, and classism. Oh yeah, and uh, the astronomically high cost of higher education that plunges most young people into piles of debt. Plus, it's a good way to learn healthy habits from each other, check our privilege if we're in a financially-well point of our lives, and find solidarity and ask for help if we're not.
Una Dabiero is an editorial associate at Fairygodboss. She likes pop culture, reading things that make her think, and hearing women's stories. Don’t follow her on social media (please), but do follow her on the FGB community.
Our employer partners are actively recruiting women! Update your profile today.