Gen Z/Millennial Finance: Survive, Don’t Stress

My 25-year-old cousin Lila sent me a voice memo last week, half-laughing, half-sobbing, while staring at her student loan statement. “I paid $300 this month,” she said, “and the balance went down… $12.” Welcome to the club, Lila—Gen Z and millennials aren’t just managing money; we’re playing a game where the rules change every time we think we get it. Student loans that stick around like last year’s TikTok trend, housing prices that make “buying a home” sound like a fairy tale, and gig jobs that pay in “maybe this week, maybe next”—let’s break this down without panicking (or crying into our instant noodles).

First, student loans: Let’s stop pretending “pay it off fast” is a real plan for most of us. Lila used to throw extra cash at her loans, then panic when she couldn’t afford groceries. Then she switched to an income-driven repayment (IDR) plan—fancy for “your payment matches what you actually make.” Now she pays $180 a month instead of $300, and she’s not eating ramen every night. Pro tip: IDR isn’t “cheating”; it’s just using the system the way it’s (quietly) designed. Even Emma Chamberlain talked about this on her podcast last year—she said she waited to pay off her small student loans until she had stable income, “because being broke to impress a lender isn’t worth it.” Smart. Just remember: IDR may extend your loan term, so it’s a trade-off—not a fix-all.

Next, housing: If you’ve ever scrolled through Zillow and thought, “Who can afford a $400k studio?”, you’re not alone. My 31-year-old friend Jake rents a room in a house with two coworkers—he calls it “adult sleepovers”—and saves $800 a month compared to living alone. Buying a home? It’s not impossible, but it’s not the “default” it was for our parents. Some people are co-buying with friends (yes, really—like a grown-up version of splitting a pizza), or moving to cheaper suburbs and commuting. Jake’s even started stashing $50 a month in a “someday house” jar—small, but it feels like progress. And if you’re renting? Invest in those meal prep containers—cooking at home instead of ordering Uber Eats saves Jake enough to cover his half of the utility bill.

Then there’s the gig economy—Uber, DoorDash, pet sitting, whatever pays the bills. My neighbor Mia does dog walking and freelance graphic design, and she swears by two things: a budget planner notebook (she writes down every cent—“even the $3 I spent on coffee”) and a portable phone charger (her phone dies mid-dog walk otherwise). The catch with gigs? Taxes. Mia forgot to set aside money last year and owed $900—“I cried to my mom, then bought that planner.” Gig work can be flexible, but it’s not “free money”; setting aside 20-30% for taxes may feel painful now, but it’s better than a surprise bill from the IRS.

Here’s the thing: This isn’t about being “good with money.” It’s about being okay with money. Lila still buys too many Target socks. Jake still splurges on concert tickets. Mia still forgets to track her coffee runs sometimes. The goal isn’t perfection—it’s not letting stress about student loans or housing take over your life. Keep a budget (even a messy one), use those meal prep containers to save cash, and remember: Emma Chamberlain, Jake, Lila, Mia, and you—we’re all just figuring it out.

And if you ever need to send a panicked voice memo? My inbox is open. Just maybe wait until after you’ve had a real meal (not ramen).