Over the last few months, I’ve thought about setting a monthly “treat yourself!” allowance for myself. Its purpose would be to:
1) Reward myself on a monthly basis (I deserve it!)
2) Set a limit for my treats so I don’t go overboard (I love treats!)
By setting a specific amount, I hope to be more aware of my frivolous spending and consequentially, be more deliberate about how I spend my fun money. You may be wondering why the heck it is taking me months to think about this. Just set an amount and do it, right? Well, I’m stuck on what rules to set for myself.
Points to consider in setting a “treat yourself” allowance.
- The amount – The amount I am currently considering is $150 a month. Is that too much? Do I deserve $1800 a year in treats? That seems like a lot to spend on non-essentials.
- What counts as a treat? Should I up the limit to $200/month and include restaurants? Do I count non-basic grocery items like cheese and sushi-grade fish? Travel is a separate budget since I pay for that with bonuses and tax refunds.
- Enforceability. How do I make sure I follow my own rules?
Any advice?
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Tags: money
Will the treating yourself money rollover into the next month if you don’t use it all up?
Good point. I thought about this and I think if I save it on purpose, I get to roll it over. If I just didn’t use it all up, it should reset at the end of the month. I don’t want to spend just because I have it.