A Millennial’s Financial Guide to Saving for #BEGT

Millennials, what do you have going on this Labor Day weekend? No plans yet? Perfect. Black Enterprise has exactly what you need—the 2016 Black Enterprise Golf & Tennis Challenge in Palm Beach Gardens, Florida.

But I don’t know how to, or even desire to golf or tennis, you moan. Well, neither does many of us. What we do desire, however, is pool lounging, music, cocktails, fun, massages, facials, Jacuzzi’s, networking and opportunities; a little more up your alley, we’re sure.

Imagine experiencing those exact things at a luxurious resort, while hanging out with decision makers that could fundamentally change the course of your career? Enticed much?

You need to meet us, September 1-4, at the PGA National Resort & Spa.

Full disclosure, this experience is $595.

Before you dismiss the thought, we’d like you to pause, and consider how this cost is nothing compared to your potential gain. Also, consider that you routinely spend that amount, and then some on, things that you may have little or nothing to show for when it’s all said and done.

To help you assess, here is a loose break down of your current monthly expenses. Consider how cutting back a little on the below items now, could pay off on your career later. Check it out.

Food: $30/day. Lord, we really shouldn’t even go here because I can only imagine. This is a light estimate as surely, this amount is exceeded by many. 30 x 30 =$900/month (you outta be ashamed). Pack a lunch. Get that number down to $15/day and you’re practically there.

Coffee: $5 min/day. 5 x 30 = $150/month. That coffee’s way too high, you need to cut it. I know caffeine comes with the whole dependency factor, so I won’t be insensitive. What I will say is that if your place of employment offers free coffee, you need to tailor your taste buds and hit a one month stop on Starbucks.

Alcohol: $75/week. $75 x 4 = 300/month. No judgement—just saying.

Uber: $100/month. If you live in a city with great public transportation; take it, if only for one month.

Clothes/Accessories: $200/month. Again, it’s only a month. You’ll be back to the newest trends in no time.

Miscellaneous: $60/week. 60 x 4 = $240/month. I won’t call this what I really want to, but if there is something uhh…recreational that you tend to spend a weekly amount of 60 bucks or more on, stop, and watch how awesome you feel with that extra cash at month’s end. All you have to do is get through the first week of going without and the rest will be a cake walk. Trust me on this.

Let’s stop right here, because we’ve already run the tally up.

150 (coffee)

300 (alcohol)

100 (Uber)

200 (Clothes)

+ 200 (Miscellaneous)


$950 — Your monthly expenses–(we’ve excluded food as to not be cruel).

Would you look at that? Even with cutting back and heading over to the Golf & Tennis Challenge, you still have $355 left over to spare. We recommend you deposit the excess into your savings because saving matters.

The point: cut back on non-necessities today; secure your future tomorrow. It’s all made possible at #BEGT. Register now.