How To Budget The Right Way – The Finance Couch: Welcome to episode 2 of The Finance Couch, where Ross Mac and Andini meet 21-year-old Stella, who has questions about how to budget the right way. There’s no such thing as a one-size-fits-all budget, but this framework can get you started: The Finance Couch was produced by Million Stories and sponsored by Experian #FinanceCouchExperian
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. Watch more episodes of The Finance Couch on Finstream.TV here: https://www.finstream.tv/videos/the-finance-couch/