A Financial Expert’s Guide to Treating Yourself

There’s no such thing as a one-size-fits-all budget, but this framework can get you started:
Sponsored by Experian #FinanceCouchExperian
Subscribe to Million Stories on KZbin ► www.youtube.co...
Continue The Finance Couch Series ► • The Finance Couch
Welcome to episode two of The Finance Couch, where Ross Mack and Andini meet 21-year-old Stella, who has questions about how to budget the right way.
Gen-Z gets a lot of criticism for spending their money too frivolously and neglecting to save for the future. Stella wants to challenge this stigma by setting up a budget that incorporates all her wants and needs in one.
Ross’s suggestion? Using the 50-30-20 budget: 50% of income for necessities (like rent and groceries), 30% for personal desires (including coffee and vacations), and 20% for savings and debt repayment. This way, Stella can indulge in luxuries while also having her other bases covered.
Using a budget doesn’t have to be stressful and restrictive; instead, it can be a great way to access and prepare for your own financial freedom.
Sponsored by Experian #FinanceCouchExperian
Watch on MillionStories.com ► www.millionsto...
Late on saving for retirement? Here’s how to catch up
► blog.millionst...
Follow Million Stories On All Platforms
► Instagram: / millionstoriesmedia
► TikTok: / millionstoriesmedia
► Facebook: / millionstoriesmedia
► Twitter: / millionstories
► Money Tips, Q&A’s, Special Announcements Right To Your Inbox: mmstori.es/email
Access All Free Content and Resources ► www.millionsto...
#collegestudent #collegelife #budgeting

[@AflacMan13]

There is one other thing to consider also. Let us say you still want those lattes. Additionally, let us assume you budget for them in your overall monthly budget. Would it be less expensive to make them at home, or get them from your favorite shop? What other shops in the area sell the same product, but at a higher quality for an equivalent or better price? Lastly, when thinking of cost, consider time, nutritional considerations, and convenience as a factor in that cost. How much additional time does it take, waiting on someone else in an ultra busy morning rush pressed coffee shop, versus you making at home yourself? Consider also that homemade items can often taste *better* than commercially created products! Nutritional factors should play a large role in your decision making process here also, as there can be some... unfriendly... ingredients in many commercial brands these days. Starbucks for example is notorious for chemical additives, preservatives, and other unsavory thinga making their way into their beverages on confections. Lastly, convenience is always a factor, which comea down to how much hassle something is going to be. If you make your latte at home, you are stuck with all the cleanup for certain; however, you also could get a better product, at a lower cost, for a larger amount of latte coffee, and with whatever customization options you desire that might not be available at the local shop. You also are the one making it though, so that takes time and effort. On the other hand, you could go to your local coffee purveyor and get that favorite latte, made just right, and pay that $5 for the sizes they have available, with the condiments or add-in's they have there to choose from and *not* be saddled with the clean-up or with the necessary skills and acumen necessary to make it. Although this is true, you have less control over what goes into your beverage, you still have to go to that shop, you still have to spend time and effort getting there and waiting, and you are at the whims and mercies of the general public once you leave your abode. It's all about cost. ;-)

[@MillionStoriesMedia]

Those are great points! Cost can mean many things from the actual dollar amount to the time you're spending.

[@Under510]

Your budgeting skills are on point! 💰

[@traveon1475]

So what is the main key that I’m supposed to take and apply? I’m curious.

[@MillionStoriesMedia]

Great question! The main takeaway is that by using a budget to make sure you cover your necessities and savings first, you can still treat yourself to a coffee or whatever brings you joy! A budget helps you see where your money is going, it's not meant to be restrictive,

[@netsaosa4973]

This is so true

[@elenagruia7384]

We Ok of mai God ples no more reclame i ame ded oredi no reclsme Yes se i trâmbe nit to Eat right naw

[@elenagruia7384]

We Ok of mai God ples no more reclame i ame ded oredi no reclsme Yes se i trâmbe nit to Eat right naw ye Ok i i am ther Ok ok