Do you have budgets?

[sibyllevance]

I really hope I'm not off topic here (this isn't about debt but it is about managing money) but I was wondering how many of you allocate a specific budget to an area of their life so they don't spend too much in that area.

Specifically, when it comes to books, DVDs, CDs, concerts, theatre tickets, seeing a movie at the cinema - do you set aside a specific amount of money at the beginning of each month or do you just go with the flow?

I have a friend who goes to the ATM the first day of the month, takes a hundred in cash, goes home with it and then hands her debit card to her parents for the rest of the month.  But I'm trying to do this alone and libraries are not an option. I suppose you could say I'm looking for success stories in that area :) Thank you!

Not sure what tags to use, I apologize.

Comments

[geeksdoitbetter]

yup!

i still like to call that category my allowance ~grin~

when my work is steady, and after i've accounted for expenses + savings, i like to keep my allowance the same from pay to pay

generally, a percentage of the paycheck

this goes into my hands, to be spent however i wish with no forethought beyond "can't get more til next pay day"

when i stick to this plan (and say, don't pay for entertainment out of another line item ~koff~) it's wonderful