(WJAR) — First it was “Revenge spending.”

Now, after years of inflation and increases to the cost of living, a new term has emerged.

“Revenge saving” is the hot, new way to take control of your finances.

But why the need for revenge, you ask?

“I think what’s interesting about revenge saving is Millennials and Gen Zs wanting to assert control and take revenge on somebody,” said Greg Stoller, master lecturer for Boston University’s Questrom School of Business.

What, exactly, are young people exacting revenge on?

  • High interest rates
  • Inflation
  • A tightening job market
  • Tariff-fueled price hikes
  • A housing market that has all but shut young buyers out

“I think the economic uncertainty is starting to catch up with everybody, especially folks who are 35 and under, and this is their way of saying, ‘We can save money, gosh darn it, no matter what,’” explained Stoller.

So what’s the best way to start revenge saving?

“What you do is you reduce what I’m calling the ‘electronic clutter,’” said Stoller.

That means going through all of your subscription services, as well as your TV, phone and internet contracts – and finding places to trim the fat.

Stoller actually put it to the test earlier this week.

“Five hours later, I actually was able to chip away just over $100 for the month of August, since a lot of these contracts go through July,” says Stoller.

Are there any down sides to revenge saving?

“I think the downside is – do you really have to eat ramen noodles every single night?” questioned Stoller.

He continued, “At some point are you really trimming away the fat? Or are you getting to the bone?”

Bottom line: Revenge saving is great… as long as you’re not torturing yourself.

Stoller said given the current state of the economy, he anticipates revenge saving will stick around for quite a while.