Icebreakers with… personal finance creator Katie Gatti

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Katie Gatti aka the Katie behind money with katie, joined Morning Brew as a creator in January. She pours all of her vast knowledge of personal finance into newsletters, podcast episodes, and Insta posts for #RichGirls around the world.

We chatted with Katie (and her cat, who loves Zoom calls) about being young, anxious, and pressured to buy a house.

recently you tweeted, “Someone asked me the other week in a podcast interview, ‘So, I understand who Money with Katie is. But who is KATIE? I literally sat in stunned silence, unable to respond. It’s hard for me to define myself outside of traditional success metrics. It gave me a lot to think about.”

Many young people are going through the same identity crisis. Why do you think it is?

I need to preface this by saying that every generation may very well go through this… but my prevailing theory is that it seems that life is more financially precarious for people now.

It makes sense that young people are always the ones with the least money, because we have been alive for the shortest time. But any time you have a system where the people who have the least amount of money, that is, the young people, feel that they are living on the edge, or that financial ruin is one false step away (get in an ambulance once time, good luck paying for that), I think it generates anxiety.

And look at all these other millennials who are getting rich trading dogecoin or building online media empires, and you could be doing that too. But you are not. I mean, it’s a cesspool of anxiety at this point, and I don’t think it’s sustainable. The more I learn about how life is different now than it was even 30 years ago, the more sense it makes to me that people are having that “I want to feel like I know who I am” identity crisis.

What is the biggest personal finance myth right now?

Buying a house is a good investment. That was a huge realization for me – realizing how much you end up spending as a homeowner on property taxes, home insurance, mortgage interest, maintenance, capital expenses, or just needing major repairs. Again, that sounds crazy right now, given what we’ve seen in the real estate market over the last 18 to 24 months. And renting isn’t inflation-proof in the same way that owning a home is. But I used to think of a big house as a good investment. And now I think it’s just a big responsibility.

What are you always going to splurge on?

Saving my own time. Anything that brings me comfort, I will pay a premium.

This interview has been edited and summarized for clarity.

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