Do you have "Spending Money"?

[jmjj215]

Re: Do you have "Spending Money"?

We despirately need to have "spend money" but I can't seem to find any leftover money once the bills are paid and the groceries are purchased. Our finances are super tight.

Even if it's $5 per month (that's what my wife and I get) it is SO important to have it! Squeeze it out - no matter how small the amount - any way you can. It will really make a big difference.

[jmjj215]

Re: Do you have "Spending Money"?

I am just startint to try and figure out a budgert for us and am not sure what our allowance will be yet. Any ideas on ways to figure this out.

Write down everything you spend for one month so you can even know where to begin budgeting. Once you've taken care of all of the necessities (and this includes retirement savings) take a look at what's left over and get to a reasonable number for you. I like to make our finances pinch just a bit to keep us on our toes so we're always trying to save a bit no matter how small the paycheck.

[srace]

Re: Do you have "Spending Money"?

Thanks for the response jmj I am trying to do that but it is so hard to get DH to tell me what he spent let alone get a receipt from him.

[Tree0164]

Re: Do you have "Spending Money"?

My husband and I both have an "allowance" that includes gas money. For him, it includes gas and ciggerates. He gets $80 a week. (it was $60 but with gas going up) I spend $20 a week which includes gas which I rarely fill up.

[jmjj215]

Re: Do you have "Spending Money"?

Thanks for the response jmj I am trying to do that but it is so hard to get DH to tell me what he spent let alone get a receipt from him.

You're absolutely right. If both spouses aren't on board it makes it very difficult to track your spending meaningfully. He needs to realize this isn't to curb spending. It's simlpy to know how much was spent! My mom opened up to the idea a lot more with my dad once I explained to her that it wouldn't necessarily mean there would be immediate cutbacks. The funny thing is, without any pushing from my dad, she has cut back on things anyway because writing it down does that to a person!

[Bill]

Re: Do you have "Spending Money"?

What is "Spending Money"?

[singinjeannie]

Re: Do you have "Spending Money"?

This is interesting. My DH feels resentful that he has to record what he spends. Like I'm spying on him, or something. Wierd. I know what I spend and keep track of it carefully. I can't know what he spends on until he tells me, so I have to ask him to record it.

He's really defensive about this as he makes the most money in this family. Like I'm putting rules on him he doesn't want to follow.

Sigh.
Jean

[crosses]

Re: Do you have "Spending Money"?

What is "Spending Money"?

It's that little bit of money set aside each month that you can use for whatever you want.

Re: Do you have "Spending Money"?

I like to give myself an allowance of $50.00, this is mostly for eating out once per week at lunch and then the rest is grocery money. I'm trying the budget planner of Jesse's and it's not as hard as I thought keeping track of expenses.

I used to have a weekly budget and it worked great, but my husband became self employed about seven years ago, so I didn't think I could budget without a fixed income. I am learning that it's even more important now to have a budget because we were over spending on a lot of little things that I didn't give a second thought to. Those little things add up!

I am also trying to work on our savings account. For the past couple of years I quit putting money in because it seemed useless-we always ended up dipping into our savings to pay bills. Now I'm realizing how important it is-not just to save, but invest. That is my goal-to invest 10% of our income.

[shadon]

Re: Do you have "Spending Money"?

My dh gets an allowance each week but I haven't allocated anything for myself. Probably explains why I went off the rails a couple of weeks ago and spent an outrageous amount on a tracksuit (which, might I add, I haven't even worn yet!).

[terry1156]

Re: Do you have "Spending Money"?

I think that spending money or an allownace is an important thing for everyone to have. it doesn't have to be a large amount - just something that each person has and can use how they want without having to explain it to the other partner.

[BillsGirl]

Re: Do you have "Spending Money"?

I don't get any spending money, because honestly if I truly needed something I owuld get it, most of everything I would spend my money on is useless!! saves alot of money too!!

[marglo]

Re: Do you have "Spending Money"?

We each get an allowance...it's not enough but it allows us to each have some money we can spend on anything we want.

[Bluezy]

Re: Do you have "Spending Money"?

I keep $20 per pay period aside, a cushion in the event CJ has a desparate need for French Fries or chicken nuggets on the way home from day school.

As for myself, I don't spend anything extra. There will come a time when I will. However, at the moment my little one and I are getting on our feet and I need to make the sacrifice.

[akaivyleaf]

Re: Do you have "Spending Money"?

I've crossed over into finding the fun in saving money, and seeing how much I won't spend. I have the money to get what I want when I want it, but I find it so much more exhiliarating NOT to spend it. Really taking inventory of what I need versus what I want.

But it wasn't long ago I can remember having to have spending money, so much so that I took it from the top, rather than taking the left overs if that makes any sense.