Finance For Fangirls: The Simple Guide to Saving & Budgeting for Fangirls
Calling all the fangirls–the ARMYs, the BLINKs, the ONCEs, the Carats, the Swifties–there’s just too many to mention! This Simple Guide to Saving and Budgeting is for you. We want to help you make it to that concert you’re manifesting. #TeamLabas or #TeamBahay no more!
According to a study conducted by the iPrice Group, a devoted BTS ARMY that has collected at least 15 studio albums/EPS, attended five concerts, and owns various types of merch from light sticks to photocards must have spent an average of US$1,422. That is roughly Php 74,000. As a financial firm (and as fangirls), it’s our responsibility to let you know that you don’t need to spend 74k to be considered a certified ARMY. However, if it is your personal financial goal to go to a concert, purchase your favorite album, or buy merch–as a financial firm (and as fangirls), it is our responsibility to help you achieve those financial goals!
Budgeting: 50-30-20 Budget Rule for Fangirls
Here’s the 411 on the 50-30-20 rule! To practice this budgeting method, you need to divide your monthly after-tax income into three categories: 50% for needs, 30% for wants, and 20% for savings. You are free to adjust how your monthly income is divided according to your lifestyle! If you expect to spend money on your fangirling lifestyle every month we highly recommend making use of this budgeting method.
For the 50-30-20 Budget Rule (Fangirl’s Version) all you need to remember is to allocate your fangirling expenses under wants. You can also allocate it under Savings if you plan on starting a sinking fund for your fangirl purchases but we’ll elaborate on that later!
Take it from Mariel!! She is a true purple ARMY (her bias is Jimin) and she has a monthly budget for her fangirl expenses. “When you restrict yourself, you are bound to fail.” she explained. A budget is like a diet, it needs to be balanced. Set aside money for your needs, be diligent about your savings, then make room for your wants so you can spend on your favorite idols guilt-free.
2. Saving: Setting up a Fangirl Sinking Fund
If you want to be ready for the day your favorite idol announces that they're having a concert in your city, set up a Fangirl Sinking Fund. A sinking fund is a type of fund where you set aside a certain amount of money from your income every month for a specific goal. Check out our blog post Simply Finance 101: How To Set Up A Sinking Fund to learn more about sinking funds. Having a sinking fund for your fangirling finance goals can really come in handy! That’s how our female founder, Mariel, funded her trip to LA to attend the BTS concert at the SoFi Stadium on short notice.
If she can do it, so can you! So get started on building your fangirl sinking fund and remember to thank us later when you’re waving a light stick at the front row of your fave group’s concert.
Real talk, the love between a fan and their idol is unconditional. That’s why being a fangirl is so euphoric! So don’t pressure yourself to spend a lot of money on your favorite idol. Not spending a lot of money on merch or concert tickets doesn’t make you lesser than the fans that do. So don’t be ashamed of not having every single album or every single piece of merch in your possession. There are so many other (zero-cost) ways to show your support for your favorite idol or group. Simply streaming their music or fangirling about them online is more than enough! You are not a “fake fan” just because you can’t drop 74k for your bias. No matter how much or how little you spend, your favorite group or idol will love you either way.
The women who run Simply Finance are empowered career women by day and adoring fangirls by night! So we understand your purple heart like it’s our own. If you need help in setting up sustainable ways to fund your fangirling lifestyle, book a free discovery call with Simply Finance! We can talk about your financial plan and maybe even do some fangirling in between.
