Budgeting for personal entertainment

[sakigt]

Re: Budgeting for personal entertainment

My $360 a month includes food, entertainment and needs that pop up (clothes, personal products, etc)

If I spend more on one, Ive got to cut back on something else.

[Aleta]

Re: Budgeting for personal entertainment

I totally agree with Budget Man that you have to include something for your entertainment. That is something that you and your SO will have to agree on. We started out with $10. a month and later down time moved it up to $40. The great thing about this is that it makes you look for the free concerts available, etc. Sometimes there are grand openings that can be very nice. I believe that climbing out of debt is like a diet. If you diet too much and don't give yourself something once in a while that is satisfying, you will fail at the diet. Same thing for the debt reduction. It is extremely difficult and especially in the beginning and tempers can flare because everyone is competing for their wants. So, you start out with a smaller amount and build it up.

[fairy74]

Re: Budgeting for personal entertainment

We're at about $50 per month, 12 per month for netflix and then whatever else we feel like (within budget) went to the new James Bond movie last week (hadn't been to theater in a bout 1.5 years) bought tickets, small drink and popcorn and it was over $30, good movie but pricey!!!

[Bookie]

Re: Budgeting for personal entertainment

I do not budget for personal entertainment as budget line item.

.

[pearlieq]

Re: Budgeting for personal entertainment

Entertainment comes out of spending money. DH and I budget $220/week for spending money--$60 each as personal pocket money and $100/week for eating out/entertainment together.

I also wish we spent more of it on entertainment than restaurant meals. I think we'd enjoy it more. Of course, if we were ever in financial straits it would be the first thing to go. But for now it's our way of balancing meeting our financial goals while also living our lives for today.

[Broken Arrow]

Re: Budgeting for personal entertainment

The Budget Man, I think you bring up a very good point. I have learned about myself that I too need a bit of entertainment in my life. And that's why I haven't sold my portable game system, nor have I stopped going out to eat altogether.

If I may offer the counterpoint, how does one go about deciding what is entertainment and how much should be spent on it? Would you say that such a thing is highly subjective? Isn't it possible that someone could budget unreasonably high and end up hurting themselves? How about the sense of entitlement? Couldn't get carried away as well?

I suppose what I am trying to say is that, well first of all, I do agree with you. However, I think there should be some kind of balance in there, and that entertainment should be "earned", not necessarily "bestow upon" as a budgeted item.

For example, while I do not have a budget specifically for entertainment, it does not mean that I have no means towards obtaining entertainment. If that's case, then I think my budget would have failed a while back as well.

Instead, I would take it out of my over-inflated food budget. The reason why I do this is because I admit I like to eat out sometimes. And that's expensive... and I admit the dining experience is a form of entertainment to me.

However, if I want something else badly enough, I'll have to give up eating out... and settle with X number of nights cooking at home. And that's how I "earn" wants so to speak. More importantly, by operating this way, it in no way affects any essential items on my budget.

Now, I'm not saying everyone should operate as I do. However, I will say that this method works well enough for me to not need an entertainment budget.

[frugalmomof1]

Re: Budgeting for personal entertainment

Since DS has been born we don't need much in the way of entertainment. DH and I have been out to eat together 3 times in the past 14 months, and have been to the movies once or twice. We are going to see Wicked! next month..the tickets were pretty expensive, but we put that on the Discover card which is currently 0% for the next few months. We considered that part of our Christmas gift to each other. IL's bought tickets for the Trans Siberian Orchestra later this month, and will be taking us out to dinner as well. (My sister will babysit for free!)

When I started working 2nd shift, I subscribed to DVR service from my cable company for $9.95/month. I either borrow movies from my sister or rent them from Redbox for $1/night. Since I work nights during the week, and DS is in bed by 7:30, we are content to stay home weekends and watch recorded TV shows or borrowed movies. When we do go out on the weekends it is either to do necessary shopping or we visit family or friends.

So, overall we don't budget for entertainment. Since it is such a small (most times non existant) expense we just call it a household expense.

[LivingAlmostLarge]

Re: Budgeting for personal entertainment

Budgeting is a diet. Will you make a life change and live within your means? Or will you fall off the wagon at the first temptation? Changes for life have to be small and work for you personally, like losing weight. You can't go back to eating the way you did before or else the weight will get back on.

A realistic budget is one that you can live with forever

[lgslgs]

Re: Budgeting for personal entertainment

We budget $10 per month, but our year to date spending is only $0.00.

I doubt we'll spend the $10 this month either.

Lynda

[vishenda]

Re: Budgeting for personal entertainment

My dear friend never goes to movie houses alone (trauma), so she pays for me and I enjoy it!

[JanH]

Re: Budgeting for personal entertainment

We budget $50 a month for books (Hubby doesn't like hardbacks so the library doesn't carry a lot that he would like to read--I try to use the library more) and $50 a month to eat out. We rarely go to movies, but rent one on the rare occasion. I also have a $20 a month category for hobby related items. I don't usually use it up.

[lrjohnson]

Re: Budgeting for personal entertainment

I budget between $20 and $30 a month for entertainment (movies, camping fees, whatever) and dining out.

Others spednign in that area:
I pay $10/mo for my half of the Netflix bil.

I pay $5/mo for my half of the 10 channel cable bill.

I pay $25/mo for my half of the high speed cable bill.

I periodically buy books and cds, usually at garage sales or thrifts stores, but regardless of where I buy them I consider it a Household expense in my budget not a entertainment expense.

Sometimes I'll have people over, or take food to a potluck gathering, but my grocery budget has mroe than enough room for these treats. It's not free entertainment, but it's pretty cheap.

[humandraydel]

Re: Budgeting for personal entertainment

Instead, I would take it out of my over-inflated food budget. The reason why I do this is because I admit I like to eat out sometimes. And that's expensive... and I admit the dining experience is a form of entertainment to me.

Ultimately, I think you are right when you say whatever works for you.

I am completely the opposite of you, however. My food budget contains the amount needed to cook all meals at home (and take leftovers to work!). Then if I want to go out to eat, it must come out of my entertainment budget! Of course, I usually decide I'd rather cook for myself and spend that entertainment money elsewhere.

Personally, I have an "entertainment/misc" category. After all bills and savings, money left over goes into entertainment/misc. That's what I know I can spend guilt free on anything. And it forces me to realize that if I need a new toaster or something, I have less to spend on entertainment that month.

[pjmama]

Re: Budgeting for personal entertainment

I have separate budgets for entertainment, eating out, clothes, and misc items that pop up. If I didn't have those I wouldn't stick to my budget at all. By "allowing" myself to indulge to a certain extent, I eliminate (for the most part) overspending out of guilt... At the same time, I've got that obsessive personality type... I admit I've exceeded that dollar amount this month, however... needing warmer clothes to fit the weather is a little important... At any rate, good luck!

[genmed]

Re: Budgeting for personal entertainment

I agree that I definately need a budget for recreation, because if I don't I feel deprived and have a hard time not justifying "overspending" everywhere else. have been tracking my "dining out" in our groceries. I tried doing it separately, but feel like I am doing a bit better when they are together. I current budget about $80 a month for "entertainment" -- this includes, gifts ($20), Blockbuster ($20), and $20 for each of us for whatever.