It is no secret that we are in the process of paying off student loan debt and in order to maximize the amount we throw towards that debt each month, we follow a budget. A huge issue when it comes to budgeting for many people and a place where it is common to make a mistake, is being too strict with your budget and not allocating any money for fun or any type of spending money.
We decided we would allocate so much money each month towards personal spending. This is money that we can do with as we wish and spend however we see fit without consulting the other person. Some people call this fun money, blow money, or just personal spending money. We each get $100 for the month that we can spend as we wish on whatever we want. We can also choose to save the money each month as well if we want to purchase a more expensive item down the road.
I know personally, I am always curious as to what other people spend their money on each month . When I asked on my Facebook page if anyone wanted to see what I spend my $100 on many of you seemed curious as well. So, let me introduce you to Money Sundays. Each Sunday I will share what I spent my money on that week and how much I spent. At the end of the month I will share if I spent all of it or if I have any left to roll over. So let’s start!
Beginning Balance for October: $150
$100- October Personal Spending Money
$25- Carry Over From September
$25- Birthday Gift
So, for the month of October I currently have $150 to spend and do with as I wish. There is a chance that this number may increase as I receive more Birthday gifts but I will post about that in the next Money Sunday if it happens.
See you next Sunday for the first official post in this new series!
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