Rule #1: When throwing a brunch, make sure you have regular bacon, turkey bacon, and vegan bacon (whatever that is).
Now that that’s out of the way, I want to tell you about the brunch I threw this weekend. I invited friends over for a cheap Sunday brunch. I hosted this, honestly because I get tired of paying $30 for brunch every Sunday. Well, actually $60 because of my girlfriend. OK, actually $72 because of a 20% tip. See what I mean?
So yeah, I brought friends over for a buffet brunch and everyone pitched in $5. But, unlike brunches I’ve thrown in the past, I decided to make it themed. This time I decided to host Brunch & Bankrolls: Eat Good, Drink Good, & Talk Money. I wanted to discuss the taboo topic of finances with people in my immediate circle. I realize we all have questions, so why not start by asking your squad. You never know what other people have already went through or accomplished. People had questions about 401K’s, purchasing their first home, investing, and even creating budgets with your boo thang.
Let me cut to the chase, it was lit!
It was so lit, I figured I’d share some notes with you cool people.
(1) Don’t Negotiate Salaries During Job Interviews
Someone asked, “How do you negotiate salaries?” It was a great question seeing that everyone has had the opportunity to negotiate their salary at one point in their life. If you watch the HBO series Insecure, the character Molly spent this entire season trying to negotiate hers. Someone suggested using Glassdoor.com to check salaries of people in your industry. One tip that stood out to me was: don’t negotiate your salary during the job interview. One reason for this is because you typically learn more details about the work during the interview and it may cause you to rethink the initial pay. You’ll need time to analyze this, and during the interview isn’t that time. Sleep on it. Talk to a mentor. Don’t be so anxious for the job, that you forget about your worth.
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(2) It’s Your Younger Self's Responsibility To Take Care Of Your Older Self
At the brunch, I also provided articles and blogs on different finance topics. One of the pieces of advice in a blog was: start saving for retiring now big fella. The same reason you’re working out or getting an education should be the same reason you start putting money away for retirement: it’s your younger self's responsibility to take care of your older self. "Kenny, what if I don’t make a lot of money?" Just start off giving 5% of your check to your 401K or a Roth IRA. You think you need that 5% of your check but you really don’t. Trust me. "But Kenny, what if I don’t work at a job that allows me to save?" Go to your bank and tell them you want to set up a Roth IRA and have 5% moved from your checks each pay period. DONE.
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(3) Invest In Yourself
Someone asked for people to give one piece of financial advice that they use. One person encouraged people to download the app Mint. One person encouraged people to meal prep and minimize going out to eat. The advice that stood out to me was: Investing isn’t always external, it can also be internal. When we talk about investing we usually think about stocks and bonds, but what about investing in a six week workshop that sharpens your grant writing skills? What about the online class from Lynda.com to improve your app coding skills? Investing time and money into building your skills eventually put you in a situation to land a better job, or start your new side business.
Last Two Cents … from Dave Ramsey himself. If you’re uncomfortable with his random screaming, keeping listening. You need it. Lol
PS: Don’t be selfish! Share this blog with your friends and family. Rapper, Meek Mill, has a new song that says It's better when the whole team rich.