Here’s why this investing expert thinks giving up lattes to save money is bad financial advice

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Stop us if you’ve heard this before: Buying over-priced coffee is such a waste of money. While yes, those daily lattes do add up, Ellevest co-founder Sallie Krawcheck says that’s not always a reason to skimp.

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In fact, the former Merrill Lynch and Citi Wealth Management CEO says that sort of shame-y attitude toward how women spend their money is exactly why many women feel less than when it comes to handling their financial situations.

“What I’ve learned being in the financial advisory business and engaging with women is that money overall for most of us is a source of shame,” Krawcheck says. “It’s a source of isolation. It’s a source of loneliness. It’s a source of ‘I don’t feel like I’m quite getting this right.’”

Instead of feeling guilted into giving up your morning matchas—especially if they are a source of joy in your day—she advocates for creating a budget that includes them.

“Forget the bad financial advice that tells women, ‘Don’t buy the latte,’ and makes us all feel guilty,” she says. “What you really want to shoot for is the 50/30/20 rule: 50 percent of take-home pay goes to your needs, 30 percent for fun—that includes the latte—and 20 percent to future you.”

With a responsibly split budget, you can have fun now and plan for later—without feeling guilty about it. Permission to order the almond milk cappuccino.

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Watch the video above to gain even more money-saving advice from Krawcheck—plus some truth bombs on why investing in women is important.

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