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Maybe it was the ATM fee that plunged your account into overdraft or a rent hike that stretched your budget past the brink. It could have been a boomer calling you out for buying too much avocado toast (which…you’ve never actually done) or someone you follow on Instagram posting a “new house who dis” pic without acknowledging it was a cash offer funded by the Bank of Mom and Dad. Whatever set you off, it’s clear that money rage—yours, ours, everyone’s?—is in the air. Our survey of zillennial women quantified the vibe: A large share of you are beyond the point of ambient financial frustration and are feeling full-on livid. And when we asked you to sound off on the subject, your responses revealed a widespread struggle to survive, let alone thrive, in a shit-sandwich economy that feels less sustainable by the day.
“The social system is becoming unlivable for many people, including some who are relatively privileged,” says cultural philosopher Nancy Fraser, PhD, author of Cannibal Capitalism. This, friends, is what happens when lack of money + lack of time + lack of options = declining quality of life for folks across the board.
And make no mistake, Fraser adds: It’s a feature, not a bug. “The system incentivizes powerful investors, corporations, and people dedicated to amassing more and more profit to help themselves freely to a lot of non-monetized resources—from nature and environment to the unwaged care work that women especially do in families, communities, and neighborhoods.” And now? Many of us have hit our breaking point, which explains why we seem to be witnessing “a multidimensional crisis of the whole social order,” says Fraser, one that many young women have long sensed was coming.
At the same time, Cosmo’s survey (see below) revealed glimmers of promise, a belief that this system might not have to be this way. Respondents showed broad support for programs that guarantee everyone a basic income, for the expansion of health care services and debt cancellation, for universal childcare and family support policies that actually support families. Admittedly, the gap between “appealing” and “possible” feels pretty huge right now. The hope here is that catharsis can bring us a little closer. Because if you’re angry…well, you’re paying attention.
Findings from a Cosmopolitan survey of 501 women ages 18 to 44, conducted via SurveyMonkey in December 2022.
The Specific Sh*t You’re Pissed About
And a rundown about the actual root of the problem.
When we asked you who was responsible for your financial frustrations, 38 percent placed the blame on…yourselves. Here’s the thing though: A lot of rage-y money experiences are manifestations of a much larger macro mess. This is how your own issues fit into the bigger picture. (And PSA: Give yourself a break, please.)
“Being constantly behind on everything—credit cards, fees, loans—and still barely getting by.”
The Consumer Price Index (it tracks inflation) increased 7.1 percent year over year. At the same time, wages rose only 5.1 percent, meaning that even if you got a raise, that bump was likely crushed by your cost of living—and you can’t just budget your way out of not having enough money, says political scientist and race scholar Patricia Posey, PhD. In short, you’re probably way better at managing money than you’re giving yourself credit for.
“Not being able to afford *not* having a roommate.”
Last April, the U.S. median monthly asking rent soared 17 percent year over year, to a record high of $1,940, per Redfin. That plus a dearth of available housing led more of us to cohabitate out of sheer desperation (cut to you listening to a horny threesome on the other side of your bedroom wall). Rent has eased a bit in recent months, but pro-tenant activists are still working for protections across the country, which can’t hurt to have.
“How is it even possible that a single bag of groceries can cost $200?!”
Basics such as eggs, flour, and coffee are probably what’s killing your budget. Bottlenecks like extreme weather and geopolitical upheaval depressed the supply of staple goods. Then some food suppliers raised prices above inflation costs, reaping huge profits. A surging food justice movement (check out @FoodChainWorkers and @BlackFoodJustice) may inspire reforms and more grassroots efforts like community fridges.
“I’m watching my retirement fund tank. How am I going to live in 40 years?”
Our dependence on personal investment portfolios to fund our geriatric years has roots in the Reagan era, when companies began swapping pension plans for 401(k)s, shifting the financial risk to employees. Which one could say is annoying. But if you’re young, consider letting your nest egg coast on autopilot for the moment. “Paying attention to a long-term investment is not always helpful,” says certified financial planner Samantha Gorelick of Brunch & Budget.
“My partner and I still can’t afford daycare even with two incomes.”
Between 1995 and 2016, the hourly cost of childcare rose 86 percent. Working moms bore the brunt and left the labor force in droves. It happened again during the pandemic, when shutdowns in childcare services sparked a “she-cession,” another hit to women’s earning power. Fortunately, universal pre-K programs—good for kids and parents alike—are gaining traction. (Fair pay for educators needs to happen too.)
“How is student loan forgiveness getting put on hold??”
Tuition and fees at universities have risen by triple-digit percentages since 2003. Last August, the Biden-Harris administration announced plans to forgive up to $20K in student loan debt among qualifying borrowers—then state GOP legislators rallied to cancel the cancellation because of questions around legality. The program may be stalled for now, but the upshot is that zillennials have officially mainstreamed the concept of debt cancellation.
The Ideal Path for Your Particular Brand of Rage
Are you more corporate subterfuge or alt-rebel: Let’s find out, shall we?
The Deserving Human Targets of Your Fury
Time for a collective primal scream: These are the folks you deemed most infuriating when it comes to money issues.
The Schadenfreude You Feel? It’s Fine
Why rooting for the ruination of financial villains is arguably healthy.
Go ahead. Mock Samuel Bankman-Fried. It’s fine. In fact, it speaks well of you to delight in the ruin of this man-baby billionaire and founder of the dubious crypto exchange FTX, a person once hailed by Forbes as the “richest 20something in the world.” You are not a bad person if you tingle with pleasure because Sam was barred from his vast Bahamas fiefdom, legally grounded at his parents’ house while awaiting trial for eight criminal counts of fraud and other charges.
If you relish the idea of him flipping forlornly through his childhood Harry Potter novels, yearning to be a precocious magic boy again, you are petty. You are also virtuous.
“When we root for the wealthy getting their due, it may stem from our justice system’s legacy of letting them off the hook,” says therapist Megan McCoy, PhD, assistant professor of personal financial planning at Kansas State University. (Bankman-Fried has pleaded not guilty to all charges.) These rare instances can feel like a correction for all that we know to be inequitable and financially fucked up.
Sure, check yourself if you’re rooting against real people you know—well, the ones who aren’t running Ponzi schemes—which can be a symptom of harmful envy, says McCoy: “Then we need to start a self-reflection process that explores how we can gain more confidence and overall okayness with our own life course.” Otherwise, laugh away.
The Ticketmaster Snafu Is the Perfect Case Study
How the fury of the Swifties led to an antitrust investigation.
For those personally traumatized by the online ticketing nightmare of Taylor Swift’s Eras Tour last November, please accept our sympathies. For anyone who missed the melee, a recap: Before tickets went on sale, Ticketmaster, the exclusive seller, created an early-access link for “verified fans.” The goal was to outsmart bots and scalpers. That very much did not work.
The site crashed and glitched, stranding fans in the queue for hours, with many losing their seats on the checkout page. A batshit resale market arose, in which a single ticket climbed to nearly $95K.
Millions of furious people melted down on social media, inspiring many a meme. But the debacle also marked a consciousness-raising moment, as fans connected their experiences to broader economic critiques of how mega-corporations with outsize market shares can become de facto monopolies that mistreat customers with impunity. The twist here is that the fandom didn’t stop at merely being mad—they mobilized for vengeance.
Fifty-plus Swifties who also happen to be lawyers, comms pros, tech workers, and government employees formed a group called Vigilante Legal—after Taylor’s song “Vigilante Shit”—and filed a Federal Trade Commission complaint against Ticketmaster and its parent company, Live Nation. (The group’s tagline: “Look what you made us do.”) Meanwhile, the Gen Z–led pro-democracy platform Voters of Tomorrow unleashed SWIFT—Swifties Working to Increase Fairness From Ticketmaster—to advocate for broader antitrust legislation. Some 250-plus fans have now joined a separate class-action lawsuit under California’s Unfair Competition Law, seeking what could be millions in cash damages. And the U.S. Department of Justice is reportedly planning to pursue an antitrust investigation of its own.
Call it a successful pilot experiment in class rage: If enough people get pissed enough about something at the same time, it’s possible to take on powerful systems.
The Financial Advice You *Actually* Deserve
Save for a down payment, you say? How about I open a STFU account.
Nothing sparks money rage quite like advice that doesn’t even remotely reflect the realities of your life. These five ancient, ubiquitous tips—even if they work for some people—just need to die already. There, we said it!
INSTEAD, HOW ABOUT...
See if your landlord reports your rent to a credit bureau—if you’re paying it on time consistently, it improves your credit history. If not, check out RentTrack, a platform that makes it possible to automate that expense.
INSTEAD, HOW ABOUT...
Scolding yourself for enjoying a turmeric latte does more harm than financial good. Are you generally making progress toward your goals? That’s the more critical question. And tbh, you deserve nice things regardless.
INSTEAD, HOW ABOUT...
It’s cool if you want to rein in your CC purchases. But also, don’t be afraid to take an active role in managing debt. Plug your numbers into a payoff calculator, research zero-interest transfer offers, and empower thyself.
INSTEAD, HOW ABOUT...
Talk to your inner circle about pooling cash reserves in a shared emergency savings fund: Many banks allow for multiple joint account holders, and chances are slim that you’ll all need the money at once.
INSTEAD, HOW ABOUT...
Extra cash is great, but spiritual payoff matters too. Factor in the value of things that aren’t monetized: sleep, sunlight, actually seeing friends instead of responding to their texts with the “haha” reaction four days later.
Erin Quinlan is a journalist in New York City and the features director at Cosmopolitan.
