Pocket Money

**mcphlips** · 03-01-2006, 05:18 PM

Just wondering what everyone here does about pocket money. Do you allot yourself a set amount for the week?month?

If so, what do you allot?

I would like to create an area for pocket money in my budget, then I when I really want to buy myself something, I won't feel guilty about buying it.

Just wondering what others think about this.

Thank you!

**AmyBoz** · 03-01-2006, 05:21 PM

I like to have $5 in my wallet, just so it's not empty. So, I have the same $5 I've had for a Looooooonnnnggg time in there. I'm not a spender, so I don't really see a need for pocket money. However, I do know that some people do put aside a certain amount each week because they like to buy things for themselves. I'm sure you'll get some good advice.

**peanut** · 03-01-2006, 06:03 PM

Dh and I give ourselves $20 each every payday (twice a month). That's for gifts, entertainment and coffee out, etc.

Jean

**FrugalMomof3** · 03-01-2006, 06:19 PM

I am like Amy, I have to have $5 in my wallet but it can be the same $5 i've had for the longest time.

**freedeal** · 03-01-2006, 07:30 PM

I have two types of money set aside in my purse.

The first is pocket money (kid money) which is for things like school field trips, a lunch out for me, or whatever. It is what Dave Ramsey calls "blow" money. I usually get $100 per month.

The second stash in my purse is blessing money. Which is only to be used to give to others. Whether it is buying a candy bar for a child, taking the teacher a treat, buying dog food for the local animal shelter, or helping someone who needs a few $$ to get by until payday. I have also used this to buy someone a book, take someone to lunch or whatever "hits me" at the time. I usually keep $25-50 in there all the time. I replace whatever I use the next pay period.

**frugalfarmwife** · 03-02-2006, 07:06 AM

I usually withdraw about 120 a month and this is groceries and hubbies pocket money, I don't keep any money for myself. I rarely need cash and if I need to purchase anything usually write a check. (TP, shampoo, etc)

kj

**pammy** · 03-02-2006, 10:39 AM

DH and I both get $50 every two weeks blow money. With this we can buy whatever we want without asking. Surely makes the budget flow much better. This is the money I use for a newspaper, gum, lunch out with my sis's, etc. We spend everything down to $0 every payday, making sure the bills are paid and the envelopes are funded. Whatever else comes up we take care of with our blow money.

**cheapgeek** · 03-02-2006, 10:46 AM

I don't actually budget out my blow money, but I do make sure my bills are paid, I put some money into savings, and I keep a close eye on my bank account balance. I'm frugal enough that the rest of the money is "fair game" without guilt.

**Michele Annette** · 03-02-2006, 10:47 AM

Right now I have about $30 a month of pocket money. DH has his own pocket money. Since he owns his own busniess, he doesn't have take home pay yet, but sometimes he gets paid in cash. The cash gets stashed at home in an emergency fund and DH will take $20 out of that for two weeks, if he wants something.

**NoDebtMom** · 03-02-2006, 04:29 PM

DH gets 20 every 2 weeks for blow money. He likes some cash in hand - even if its just that small amount. I don't take out a certain amount, but I rarely spend anything. If I do need money, (lunch out or thrift store stop, etc) I know exactly whether we have it in there or not.

**madhen** · 03-02-2006, 04:34 PM

I don't normally carry cash at all, because I'm always too lazy to go to the ATM and get it (my paycheck is direct-deposited). This may have to change in the near future, because I'm trying to wean myself off plastic, and even those debit cards make it sooooo easy to spend money on something you don't really need.

Recently, I took over our bottled water fund at work, so everyone pays me every month for the bill. I electronically pay the bill from my personal checking account, so I keep whatever the bill was from the cash paid to me and use that as my "running around" money. It is about $20-25/month.

**Emerald_Mommy** · 03-02-2006, 04:50 PM

We budget $10 a month "blow money" for each of us (that's $10 for me/$10 for him) however if we both have birthday money or something we use that $20 somewhere else in the budget. Neither of us is a big spender so this works for us.

**mcphlips** · 03-02-2006, 05:03 PM

It is so interesting to see how everyone looks at money differently, even though we are all trying to be frugal

I think I am going to try $40.00 for DH and myself for 2 weeks. $20.00 of that will go toward my DD's piano lessons (10.00 per week) that will give us 10 each for 2 weeks. Then we can spend it on something we want or save it to splurge later.. spring is coming, I may need a little something extra then