Feel torn between having fun NOW and saving for LATER? It’s tough being a young adult – we want to enjoy life, but those student loans and rent payments aren’t going anywhere. So, how do we find a balance?
Creating a budget is a great first step, but it’s not always easy figuring out what’s a “need” versus a “want.”
Let’s be real, in today’s world, our needs have changed. We’re bombarded with new gadgets and experiences, making it super tempting to overspend.
So, what can we do? Jessica Reyes, Patricia Wu, and Lauren Jeffery offers advice:
- Redefine “needs”: Do you really NEED the latest iPhone, or is a slightly older model just fine?
- Get creative with fun: Having fun doesn’t have to break the bank. Explore free activities, try potlucks instead of expensive dinners, or get outdoors and enjoy nature.
- Soft saving isn’t sustainable: Sure, it sounds nice to save a little here and there, but a solid budget with consistent savings is the way to go for long-term financial health.
It’s okay to splurge a little sometimes, but it’s important to be mindful of your spending habits. By setting realistic goals and sticking to a budget, you can have your cake (or avocado toast, or concert tickets) and eat it too!
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