Budgeting for the Fun Stuff!

Posted on April 29 2010

How many times have you set up your budget and only listed the bare necessities? This is the perfect way to set your budget up for failure! When you are listing all of your expenses, make sure you list an amount for things like eating out, clothing, and recreation. This is what will actually make sticking to your budget each month, FUN. If you don’t budget for those tickets to the baseball game or that new dress, how guilty do you feel buying them? You end up using money that was supposed to be used for another bill – or, you end up just putting it on a credit card.

When you set up your budget, allocate money for the fun things in life. Whether it’s your hobby, clothing, or whatever else you like to do. For some of you, it might mean putting $5 in an envelope each paycheck for clothes, and once every few months you get to go shopping! How much more rewarding will it be knowing how hard you worked and how diligent you were to save up that clothing allowance. For others, this may mean you put $200 away each month for an annual family vacation – one that wasn’t paid for on a high interest credit card!

Your budget shouldn’t be a burden. For my wife and I, it has become a fun challenge that we can work at together, reward ourselves with, and become successful financially. If you have a spouse or kids, work on your budget together and find one that works for you and gives you the opportunity to reach your goals. But, don’t forget to budget for the fun stuff!

Nathan Aakre
FLCS Credit Counselor