LOUD Budgeting | Financial Transparency with Friends and Family | Your Rich BFF
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- Опубліковано 8 чер 2024
- Hey besties!! If you are as chronically online as me, I'm sure you've heard all about loud budgeting. It's a new phenomenon taking social media by storm to promote financial transparency and open up the money conversation. I'm SO into this! Let's dive into loud budgeting and determine how it can help us reach our financial goals this year. Want more financial tips and ways to open up the money conversation with your loved ones? Check out my new book, RICH AF, out now!
Thanks to SoFi for sponsoring this video! If you’re looking to earn more interest on the money in your checking and savings accounts, check out sofi.com/yourrichbff. SoFi’s High Yield Checking and Savings Accounts offer more APY than standard bank accounts (per the national FDIC savings rate average).
About Me
Your favorite Personal Finance & Investing Creator. Let’s talk about money, career, & getting rich. Learn more about my background in Finance on www.YourRichBFF.com and follow me for more smart money tips.
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I love watching Your Rich BFF, Stock Brotha, & Everything Money. Love them all! ❤ ❤ ❤
Even if you already knew what our RichBFF is talking about, her suggestions are excellent reminder for us all.
I love her savvy ways to teach about finances.
Thank you Viv!!
you are amazing: setting boundersies is so important to life in general.
being honest and transparent is key!
This is lovely, straightforward and informative. Thank you again.
I learn so much from you and I think it's not just your energy that you put out but also, you talk like me and are very easy to get.
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
*@mellon-wrigley3* That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
Gertrude Margaret Quinto, is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this. Loud budgeting has more positives than I thought.
I heard that phrase on the Today show. I think its a great idea, although, I've always kind of done that myself.
This is great! I just bought your audiobook after watching you on Eric Siu's channel. But I can really relate to this and communicate (aka being loud) about my financial disciplines to my close friends/family. It is very healthy, makes my relationships stronger, and holds myself accountable to reach my financial goals
Wow! Thank u for this rich bff❤❤
Love this video and the way you deliver and communicate is fun an easy to listen to 😊
This is really good! I never know what to say so this is very helpful.
FYI- I set up both checking & savings through Sofi, only to find out I don't make enough for my direct deposit that applies to the threshold of $5k to get the APR 😢. I didn't read the fine print. At least I get it on my savings.
This is so simple but really help me think about hanging out with my friends ❤ and the people I care about I have big goals right now and feel bad about my timing as well
I absolutely agree with you! I’m hosting a family meeting with my siblings!
Love your content and book btw 😁
Thank you.
Great stuff 😊
Great idea
Bestie can you please make a video that breaks down credit classes when applying for home loan and what type of accounts would boost the credit score that is checked for home loans.
Talking money with friends and family can be tricky, but your video really shows how it can be done right. One thing I've found super helpful is setting up 'financial dates' with my close ones. Once a month, we sit down, grab a coffee, and chat about our financial goals, struggles, and wins. It's not about numbers but about supporting each other to be better with money. It’s made a huge difference in staying accountable and motivated. Plus, it turns what can be a stressful topic into something we all look forward to. Love the way your video encourages openness about finances - it's something we need more of! Great video!
But I feel ashamed when I don't have money in the last week of the month because I still budgeted, but didn't deprive myself of good food to cook, art supplies to paint and do sports.
Solid advice! Thanks Viv!
Once I win the lotto I’ll reach out to you ❤, yes!!!
Commenting for the algo. Hell yea to this.
Unfortunatley, when telling someone that youre doing well, opens up to being used for money and a lot of the times, its from family
Agree except don't feel like you have to justify your budget. If you tell them you're saving for a new sofa, your friends will try to convince you that your current one is fine.
Those friends aren’t real friends, good friends should respect your reasons no matter how stupid it sounds to them
Amazing advise! Thanks for sharing this , just validate my point of view which is pretty much around the same route .
Do you think setting aside 7 - 10% for savings and 3 - 5% for 401k is enough? I don't have a very high salary and my monthly expenses are around 60% of it.
I think its a great start. You can increase over time as you make more. You're doing great!
what about about the family and friends who say you're being a cheapskate?
If you were asking your friends to pay your way rather than suggesting less expensive alternatives, you would be a cheapskate. Being honest with them about what you can and cannot afford is not, to most people's minds, cheapskatery.
Who cares? You can afford what you can afford and they don't live with the consequences of living beyond your means. But ask yourself if these are people you have been financially generous with in the past that rarely reciprocate (you stand a round, they say they'll get the next one, but never do or you always front the cost of something and it's hard to get paid back). Are they friends because of what they can get you to pay for or to hang out and have fun even if it's cheap? With family you have to make sure your financial oxygen mask is in place first before helping them, just make sure to budget for it and you should be fine.
Lmao ever tried just saying NO?😂
How much to save per month on Sofi savings to actually benefit from it ?
As much as you are comfortable setting aside! No such thing as too little.
@@YourRichBFF thank you for your response ❤️
I’d never go into such detail about why I can’t do something or go somewhere.
This is a silly idea.
So ummmm after all this…what’s your budget then? I didn’t hear you talk about YOUR money? 😂
@funstuffbuddy
First of, I’m sure she has more $ then you.
Her channel is to give advise not to talk about her finances.
Also, why are you rude? ( someone once told me If you don’t have anything nice to say, don’t say anything at all)
@@juditmihalovits4641it’s just a joke…wow. Pump the brakes. More money than me? I doubt it. How’s that even relevant?
She goes on dates for free dinners