Let’s Break This Down: Beyonce Tickets or Investing $1K

Is it more important to chill with abúe and invest or spend on a Beyonce concert? Let’s delve in and break this down! ⬇️

I can imagine there are many arguments that favor investing, but also Queen Bey is LA REINA 👑 of live entertainment for a reason. So let’s talk about it! 

It is important to first acknowledge that making such a choice begins with understanding one’s priorities. 

Where do you find yourself financially? This is a big determiner because it can help you become closer to a decision of whether you should drop the MONEYS on Beyonce 🐝.

So let’s say you are financially fit to make such a purchase, but on the latter will this jeopardize progress towards another financial goal?

Another question to ask is, the memories! How much do you value memories? Are the memories enough to justify such a huge cost?

Have you been saving for a moment like this, because remember a concert is not just a concert. There are additional unaccounted expenses like outfits, shoes, makeup, food, and even transportation (parking cost or ride-sharing) that can double the price of that ticket cost.

However, these are all questions only YOU can answer. The main thing to avoid is making a rash decision that can create a financial setback!

On the flip side, don’t invest $1,000 blindly instead of a Beyonce ticket. If you choose to invest the $1000 these are 3 things you should consider if you’re going the investing route:

1. Financial Goals: Consider your financial goals (not the ones that Messi makes 😜) and whether investing aligns with them. Are you saving for when you’re 93 and like my abue, for an emergency fund, or a specific future expense (like a Bey or Karol G concert)?

2. Risk Tolerance: Investments come with varying degrees of risk. Assess your risk tolerance to determine what type of investment is suitable for you, kind of like the times you chose to hold off before rolling off the hill with your primit@. Riskier investments may offer higher returns but also come with greater potential for loss.

3. Financial Stability: Ensure that you have a stable financial foundation with an emergency fund and no high-interest debts before considering investments. Yes, time to channel your responsible tí@ persona and get it together!

¡Piénsalo dos veces! Yes, think about it twice and make a smart choice because it can make all the difference. The wrong decision might create unwanted chaos. Want to look further, check out the SUMAversity!