Budgeting and saving money can be hard work. People often associate budgeting with strict saving and being deprived of any fun. However, a well-balanced budget should allow you to reach your long term financial goals, while still having a little fun along the way. It is important to set aside some ‘fun money’ to spend on whatever you want to help you keep on track with your budget. Below are three reasons why you should be including fun money in your budget.
1. Saving can be draining
Living on a strict budget can be very draining. You sit there, watching every dollar being spent on essentials. It gets tiresome and often leads to people giving up their budget altogether! Budgeting for fun will help take the pressure off. It allows you to reward yourself for working so hard to achieve your long-term goals, without feeling guilty.
2. Fun money can prevent big expenditures
A lot of people treat budgeting like a diet, starting out incredibly motivated and spending money only on the essentials. But doing this normally results in a big splurge purchase, something over the top and expensive that you feel incredibly guilty about later. By budgeting for fun, you won’t feel this urge to go overboard on a big shopping spree.
3. Fun money can take the pressure off relationships
Money has a significant impact on relationships, especially with a budget in place. It can feel like you are constantly nagging each other about every little expense and is often one-sided. With a little bit of fun money each, you can enjoy yourselves for some fun, whether it is together or apart.
Fun doesn’t need to be expensive. There are plenty of fantastic options and activities out there to have a little fun without putting a dent in your wallet. Everyone will have a different budget, just set aside what you can to enjoy yourself and make life a little more fun.