Spending Money

[David]

How much do you set aside for yourself each month that you are free to do whatever with?

We get paid monthly and after paying all bills, contributing to our IRA's, putting money in the savings, and setting grocery money aside, I have about $300 play money for the month...same for Heather.

1. Are we in the norm?
2. Are we living a poor life?
3. Are we living the high life?

What is your play money situation like?

 

[indyrob]

I would say that your budget is right on par with how my overhead with the leftover going into the kitty for fun stuff.

 

[terrantheman]

What no kids?

 

[David]

We have a 6 week old. I factored in the price of forumla, child care, and higher insurance premium into the "paid bills" portion of my statement.

 

[joshua]

I put away $50/month into savings, pay rent, bills, school loan. Then I make sure I have enough in my account to live off for a few months at least before I buy anything major. That way I have a cushion of money incase something happens. Then I just enjoy myself with what else extra I get.

 

[derek]

I never sat down and thought what I have left at each month to spend. To me it always seems better on paper then it really is.

I also think where you are in life and how those years have treated you play a factor on how much spending cash you got.

I'm not sure how much I have left after the mortgage, car payments, utilities, investments etc. I do know we have enough to live comfortably and purchase the little extras in life that make us happy.

 

[tuffy]

I think nationally, you are above the norm. Nationwide, most people live paycheck to paycheck with little to no extra spending money, nothing in savings, and no retirement plan.

You are asking the question in a forum where most people are at least middle class to upper middle class, so I am guessing you are on par with most of us here. Most smokers I know, are cigarette smokers, and they can barely afford the habit. For them to purchase a $250 box of cigars would be impossible, they complain when the price of cigarettes goes up $0.50 a pack.

I have anywhere between $200 - $600 extra spending money each month. My paychecks always stay the same. It just depends on the "extra" bills that I face each month. For instance, I just had to pay a $580 dental bill for my daughter (that was after dental insurance paid their portion) so my cash flow this month was low, welcome to parenthood David :grin:.

 

[rpb67]

As your kid/kids get older it gets more expensive.

Your money is there money and you then jhave none....lol

My kids are heavily involved in Gymnastics and it cost a pretty penny to keep them going. Never mind the clothes,sneakers,shoes and their spending money.

Its $15.00 a week just for lunch money for them, times two its $30.00 a week or $120.00 a month. It adds up and adds up fast.

Hold on, its a fast ride....but a good one.

 

[Boppa-Wasch]

Don't forget to figure in the Dipes and Wipes........not to mention the stuff that gets picked up at or just before the checkout.

 

[cf2112]

If Big Mama keeps food on the table, the kids clothed, bills paid and doesn't come get more $$ by payday I spend the remaing $$ on cigars. Some months I get cigars, this month I'm digging in the couch to get 3 of my 4 kids ready for school:help:

Maybe I should save the extra $$ for months like this, nah thats just crazy talk :bouncetau

 

[no_substitute]

I'm 40, but get allowance like a kid. Every weekend I log into the bank's web site and transfer $250 into my own account for lunch, cigs, other small purchases, etc.

 

[Altercall]

I've got a little leeway on that, as I"M paying down some bills early, but I generally put in about $150-$200 for my stuff. I like to challenge myself to find really good deals on stuff. It's a blessing and a curse, 'cause you find too many of those and you're over budget.

 

[Headbanger]

I spend whatever I want and hope to have enough money to pay for everything by the end of the month. So far things just seem to work out for me. With buying and collecting cigars, there is no leftover money these days.

 

[Wasch_24]

Back when both of us were working we were right on par with you David.

(With two kids)

Now though....ha...what is this "extra" money you speak of? :rofl:

 

[Electric Sheep]

My wife and I each get about $300 per month to just "play with" after the bills/savings/groceries/etc are taken care of.

 

[CWS]

Sounds like you have a great plan and budget. You are clearly out of the norm as most people do not save and live on the shoe box method. Money goes intot he shoe box and bills are paid out of the shoebox. As long as there is money in the box, there is money to spend.

Since both kids are grown, married and have families of their own, all our funds go into a sweep account that is moved into investments daily. We really dont allocate funds for specifics anymore as everything is paid or saved.

 

[dpricenator]

When I deposit my paycheck I grab about $50 per week to go the the B&M or more recently send to one of you for some smokes. so that's roughly $200 per month.

 

[jmatkins]

I try to pay most of the bills with my check, and my wifes goes into the saving account. I do however pull out about $100 a month to play with. I will save up some and go cigar shopping.

 

[jwintosh]

As your kid/kids get older it gets more expensive.

Your money is there money and you then jhave none....lol

My kids are heavily involved in Gymnastics and it cost a pretty penny to keep them going. Never mind the clothes,sneakers,shoes and their spending money.

Its $15.00 a week just for lunch money for them, times two its $30.00 a week or $120.00 a month. It adds up and adds up fast.

Hold on, its a fast ride....but a good one.

AMEN to that! my daugther started college today! i've spent more money the last week (and that's not including books!!), than most of last year!

as for my 'play money', i quit spending money when i run out of checks!okemyeye

 

[Jammerjoe]

Ha! I had two in college until my son enlisted in the Army...now they are paying for his education.

Luckily for me we have the Bright Futures program here, funded by our state lottery. Both of mine were on 100% scholarship, so I only paid books, dorm and lunchroom...still added up to a ton of money though