Although it is really important to make sure you are saving money and not spending your money foolishly, it is also important that you allow yourself to enjoy at least a little of your money as well. You should reward yourself a little for your hard work. I call this your fun money.
Fun money can be used for whatever you enjoy – for some it may be eating out at restaurants, for others it may be used towards a specific hobby. For a long time my husband and I were too tight with our money and almost never spent it on anything fun. But recently we have decided to designate a certain amount each month that is designated for fun. It’s like having our own separate bank account and I keep track of our spending using an Excel spreadsheet.
It has been fun so far. It prevents us from spending too much on entertainment but at the same time encourages us to make sure that each month we use a little money for something we really enjoy. Any money that we don’t use during this month gets carried forward to the next month.
Although my husband and I keep all of our bank accounts together, these virtual accounts are kind of akin to having our own separate small bank account. It’s nice to have a little financial independence, especially when it comes to how you spend your fun money.
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