Tuesday, May 8, 2007

Fun money

My husband and I tend to be pretty likeminded when it comes to money and financial issues (what a blessing!), but last year we decided we needed to improve our approach to a monthly budget. We both tend towards saving, rather than spending, but Iwas sometimes feeling guilty for purchasing anything I viewed as unnecessary (including certain types of groceries--snack foods, certain name brands).

Though the system we put in place has been tweaked a couple of times, it has really been helpful in tracking each month's expenditures. We use a small plastic organizer (designed for checks/coupons) and have labeled various sections: food, gifts, misc. This way we know how much we've spent in each category for the month. I have never really enjoyed "formal" budgeting, but have found this to be helpful.

My favorite part, though, is that every month, we each get $10 of fun money to spend on whatever we want. Gift money that we receive for birthdays or holidays goes into our envelope, too, so we can save up for a bigger item--or not, as we choose. This has been really great, because now I don't feel (as) guilty when I occasionally buy craft supplies or treats, like the massage I'm getting today (I'm so excited!). My husband uses his funds to purchase fishing and hunting supplies. Good times!

6 comments:

Susan said...

Carrie,
We are also budgeting too! Since I have no job I sometimes am feeling guilty for purchasing stuff. We usually really save for our trips to the US and then we have plenty. But we are learning a ton about stuff. I really enjoy reading your blogs. I have been inspired to give myspace.com a try.
Susan

thehomespunheart said...

I have loved having an amount that I know I can spend each month. It is such a good feeling of having a non-guilt amount set aside!!

Linda said...

I am working the Dave Ramsey Plan and I have a certain amount of "blow money" each month and this really makes a difference.

Mary Ann said...

We do this too! It's a great concept. :-)

Tracy said...

My husband and I get an "allowance". A small amount of cash each week that we can spend without question...my husband generally uses his for coffee. Today I'm getting a day old muffin from the bakery down the road. Yum! And guilt free!

carrie said...

Yay--good to know we're joined by so many!

Linda, we have listened to several Dave Ramsey seminars on CD's--he's a great motivator to getting your finances in shape!