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Do you get an "allowance" for yourself?

post #1 of 21
Thread Starter 
Just wondering if you give yourself and hubby an "allowance" so to speak for 'mad money'. Hubby and I have started doing this and i'm thinking it'll be a good thing.. make us think twice about something that we really want.. kwim? ie; magazines, craft supplies (for myself.. etc..

We give ourself $50/month and that's for anything 'extra'.. does anyone else do this? Also, this is after bills, savings, etc..
post #2 of 21
No we haven't tried this but don't tend to buy too much on the extra side. THankfully we double think every purchase. However that just means that if there is something we really want, we don't feel bad about buying it.
post #3 of 21
We used to do that. My sister does that with her husband. We aren't doing it right now because our budget is bare bones...but we'll probably do it once we get some fluff in our budget again.
post #4 of 21
We give ourself $50/month and that's for anything 'extra'.. does anyone else do this? Also, this is after bills, savings, etc..[/QUOTE]

Wow 50 a month that is great. dh takes 50/week this is also to support his smoking habit which he says he wants to kick but I'm not really sure he does I try to limit myself to 20/week I work part time so I bring lunch to work when ever possible make my own coffee to also bring and buy a case of water for the car so when ever I feel thirsty I don't feel the need to spend 2.00 on drink when I probably spent that much on case of water. So how has this worked for you do you feel it is enough. Just wondering maybe I can cut out somethings.
post #5 of 21
We used to do this also. I would take $20/week. When I did do this, I spent less. I think I'm going to sugest we start this again. Thanks for the reminder!
post #6 of 21
They only money dh ever gets is if he gets overtime. I only get money if I save money on something i was going to buy anyway then I keep any extra. My grocery budget is 400, that has to include all my gas for the month. If I have any money left at the end of the month I keep it for me.

Last month I only spent 289 so I get the other 111! But thats already gone becuae we have to get a new roof and I have to save for it .
post #7 of 21
Thread Starter 
Well this is the first month we've been doing the $50/month.. but I think it'll work great.. hubby works the midnight shift and doesn't drink coffee, etc.. so his will go to magazines, or in all liklihood he'll save it for that BIG tv he's dreaming off.. lol!

I'm a scrapbooker, so mine will go towards that stuff and any magazines, etc... I want. I also belong to a SU stamp club.. so will have to ration my purchases a lot better! LOL!

But I think it's a good thing!
post #8 of 21
I just started the cash system so yes now we do. He gets $50, I get $40 every paycheck which is every 2 weeks. We have only been on it one month. He spent all his in one night out and totally messed it all up. I haven't spent any of mine yet, but it's been snowing so I haven't been out.
post #9 of 21
Thread Starter 
Quote:
Originally Posted by stacia View Post

I just started the cash system so yes now we do. He gets $50, I get $40 every paycheck which is every 2 weeks. We have only been on it one month. He spent all his in one night out and totally messed it all up. I haven't spent any of mine yet, but it's been snowing so I haven't been out.

Live n' learn huh? Did he get another $50?? lol!

Also, by 'cash' system.. do you mean envelope system? Any tips/pointers??
post #10 of 21
I think this is a fantastic idea and I have thought about it several times just never done it. I believe that it would make us spend less money - leave the checkbook at home and all you have to spend is from your allowance. I do believe we would have to do the weekly though, I might spend all of mine for the entire month if I had it!!! I think this might get started at our house tomorrow. But you know, I am the one that will spend the money - my husband doesn't spend much at all. I guess though I buy him the things that he needs,he does not have to. GREAT IDEA!!!!
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Mommysavers › Forums › Frugal/Simple Living › Spending Less and Saving More › Do you get an "allowance" for yourself?