I
think every hard working adult should carry around a little pocket money. A small sum of cash tucked into our wallet to
spend on whatever we wish. The amount
depends on a lot of factors. What amount
is reasonable and affordable based on my current budget. What are my current financial goals? Will that amount create a hardship? What is it to be used for?
I
know I am a hardworking adult, I don't dispute that. I pay all of my bills first and take care of
my savings goals each month so I'm being responsible with my money. Until this year however, I've never given
myself an allowance. My kids have had an
allowance, but I never have. And I'm not
entirely sure why.
My
girls are now at an age where they babysit and can get jobs so they no longer
get an allowance. In fact, I stopped
that last year when their school activities started to get more costly. Now that they are earning their own money I
don't feel the need to give them that extra little bit each month and they are
fine with that.
This
year I decided to change things a bit.
Each month I am tucking twenty dollars into my wallet to purchase
whatever I wish. Last month I used it to
purchase some chocolate bars made with 90% cocoa, only $7 because I had
coupons. They are my keto friendly treat
and I like to enjoy a square or two with a nice cup of coffee or tea. I also treated the girls and myself to the $1
movie.
This
month I added $10 to my remaining money and topped it back up to $20. Not sure what I plan to do with it yet, but
I'm sure whatever I use it for I will enjoy my little purchases. It isn't even that I feel the need to spend
it. It is just really nice to have.
First I need to tell you that I opened your blog to all these beautiful red hearts and gasped and smiled. They reminded me of the time I went to the thrift store and went through the men's shirts and found some that were very cheap and I went home and made hearts out of them. They all were not red, but were so lovely. And I like your idea of giving yourself an allowance. Having little treats in one's life is wonderful.
ReplyDeleteI'm so happy these hearts brought you joy! What a lovely project you did. Wishing you a fantastic weekend.
DeleteGood for you to give yourself some spending money. We all need to have a little bit for those fun things that don't have to be budgeted for. That little boost can go a long way when living on a tight budget. I like that you are no longer providing allowance for your girls. Many will disagree, but I firmly believe that children who are old enough to babysit or have other jobs should be responsible for at least part of their expenses (school things and the like). It is part of getting them prepared for the real world.
ReplyDeleteI bought a lot of my own things when I started to earn money and I felt empowered. I want my girls to have the same experience and learn to budget their $$. I really appreciate your support on this subject Frances.
DeleteLong time lurker here but I don't think I've ever commented on your blog before. I retired on 1 January, two years earlier than I had planned but I just couldn't take my 3-4 hour daily commute any more. I had to radically rethink finances as I have lost a lot of money by leaving early but it should all work out ok as I actually have more now than what as I was living on before because I threw every spare penny at my mortgage. But yes I give myself an allowance too. It is for whatever I want and actually I'm pretty sure I'm not going to spend it but I do think it's important that we are not all work and no play. Love your blog by the way. Anna
ReplyDeleteI'm so happy you decided to comment Anna. And congratulations on your early retirement. I agree, all work and no play is no fun at all. :0)
DeleteGood for you! You should have actually added your monthly $20 to your remaining $10.. Just a thought:)
ReplyDeleteYou are so kind. I had thought about it actually, but I'm trying to save more $$ this year. I figured I'd give this a try and see how it goes.
DeleteI agree with you, it comes in handy sometimes. It is also a big guilt reliever when as a single mom you feel the need to "justify" every expense to yourself - this way you don't have to and it is reasonable. Enjoy!!! You deserve it.
ReplyDeleteThank you Candace. What is it with that "mom guilt" anyway. We work really hard, we shouldn't feel like that, but we do. Pretty silly, I suppose. ;~)
DeleteYou inspired this...
ReplyDeletehttps://cindybrick.blogspot.com/2019/08/an-argument-for-giving-yourself.html