The creators of ABC’s new comedy “Home Economics” have taken to heart the long-held adage “write what you know.”

“It’s based on me and my siblings,” executive producer Michael Colton told senior editor Michael Schneider in Variety‘s Streaming Room, presented by ABC. “I’ve been at this for a while and we have good years and we have bad years. We were in the middle of a particularly bad year… I have a twin brother and he works in private equity, and around that time he sold a company and made like $7 million off it. I also have an older sister who works in social work arena and has never made much money. And so when talking to [writing partner] John [Aboud] about this, there’s all these conflicting emotions of anxiety, but also pride and jealousy and gratitude, in navigating this within our family.”

With that, he and Aboud decided to adapt the story of Colton and his siblings, focusing a financial lens to the traditional narrative of a family sitcom.

“Certainly ‘Modern Family’ was a big inspiration for us in terms of, ‘what could we add to the tradition of family sitcoms?’ But when we look at that show, one thing they’re not talking about is money,” Aboud added. “They are not having the kinds of conversations that we were having at that time, that people we know have been having all the time.”

“Home Economics” also marked “That ’70s Show” star Topher Grace’s return to television. He plays the show’s protagonist Tom, who is based on Colton.

“It was not something I was looking to do,” Grace admitted. “I didn’t feel fully comfortable ever until, I would say, 48 hours into shooting. And it’s because of my relationship with these writers. And because of these actors, it is just a dream team.”

Hear more from the rest of the cast in the full conversation above.