00:03you may have heard the age-old financial advice that in order to save you need to skip the latte
00:09well we beg to differ budgeting for things that bring you joy is a completely respectable and in
00:16fact important category in your budget so how much should you budget for the lattes or the vacations
00:22fitness classes girls nights out date nights or whatever it is that brings you joy the motley
00:28fool explains that the 50 30 20 rule says 50 of your budget goes to needs rent bills while 30
00:36percent goes to wants and 20 goes to paying off debt and saving easier said than done right nerd
00:43wallets suggest setting aside that fun money in a separate account if the goal is to spend it on
00:48things like vacations a savings account that earns interest is a good idea because you're oftentimes
00:53limited to six withdrawals or transfers a month if it's for a daily splurge like coffee a checking
00:59account may fit your needs or wants better calculate 30 of your income and literally transfer that amount
01:05to the fun money account if you're saving up for a vacation you'll get joy watching that money grow
01:11while you plan your itinerary or if that latte is what brings you joy you'll get caffeinated without
01:18worry because literally you've earned this
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