Weekly Allowance

lorimw1 · July 2009

I should probably post this on the MM board but don't know that board yet Embarrassed

DH & I are re-doing our budget & we're trying to figure out how much we should get to spend on whatever we want each week. We use to do $100/week each when he was working but that has to change now. He says he only wants $20 a week now. I, want at least $50. Wanted to see what others do per week.

[Poll]

RockThisB!tch · July 2009

We're wanting to save for a DP for our next house, so we recently re-made our budget. We used to do $80 fun money each and we just lowered it to $50 each, but our entertainment budget (when we go out together) is pretty damn high, so we don't think $50 is too low. We want to be able to go out and have a good time while we can before kids, so we're not budging much on the entertainment category.

JodyKay · July 2009

We don't have an allowance system set up. We both buy what we need and if it's something we want, I think we're both aware of where we stand financially and can make the appropriate decision. If it's a major purchase on someone's want list, we'll talk it over beforehand.

RockThisB!tch · July 2009

Oh, and it all depends on what you're including in your fun money category, too. We have category lines for things like clothing and gifts already, so those aren't included in our fun money.

MM would tell you to cut fun money altogether if you're in debt or can't make ends meet otherwise while DH is not working.

Huskerfanz · July 2009

We don't do any allowances. We are together so much that we aren't spending much on our own. If so, we usually run it by the other person first. We are trying to save up money for a house so we don't do much with fun money right now.

emmypants · July 2009

I did $20-$40, but mine is for 2 weeks. I try not to spend money aside from what I need. My only "splurge" is my Friday Italian Soda which is $2.00 so it's not a huge deal or sometimes I'll go out to lunch. I try to keep the money for gas though. Brett has a commute so he spends way more on gas than I do. And he smokes, but it's remarkably cheaper here to buy a carton than packs, so that's a once a month expense. We have the house, so we don't have anything to save up for, just our e-fund which gets about $100 a month put in. Once we get our tax credit for the house, we'll have a nice chunk in there and I'll feel better, just in case.

Chrissy3321 · July 2009

We our on the first month of our monthly budget. We are using the Dave Ramsey Snow Ball debt method (except I didn't unload our saving onto our debt just incase something happens with my job and we need it).

I have already paid off one credit card using the method and now I'm skipping a couple cards working on my car (because it will free up a huge chunk of money every month).

We are really good with spending I think. We just incurred the CC debit when Sean was only part time. Now we need to work double time to get rid of it and our car debt.

Dave Ramsey's website has lots of worksheets that our free to help you. I started his book last night and really like it!

acp927 · July 2009

We don't have one now, but DH wants to set up a monthly allowance once I get a job since it will pretty much just be extra income. What I don't understand, though, is he doesn't give me a limit now that I don't have a job. I've been buying things I feel we need, and trying to be very careful about it, but he hasn't really said anything though he knows about it all. Weird.

futuremrsschulze · July 2009

I take care of our finances (but keep DH "in the loop" of course) and have set up a budget, but we don't have an allowance system. The only money spent during the week is for DH's lunch every day and if we run out of milk or something I'll go pick that up. If we did set up an allowance type thing, I would probably aim low, see if we could get by with that, and if not increase it a little.

bayhunter6 · July 2009

JodyKay:
We don't have an allowance system set up. We both buy what we need and if it's something we want, I think we're both aware of where we stand financially and can make the appropriate decision. If it's a major purchase on someone's want list, we'll talk it over beforehand.

This. We are both more savers than spenders, although we do splurge occasionally, so we haven't really set up a weekly budget. We just are conscious of what we spend and buy what we need/want as long as we can afford it.

shexmix · July 2009

I'm with Beth and Jody. We don't do "allowances". We have a joint checking account which pays all of our bills and joint expenses. We both contribute a certain amount from each paycheck (more than half) to the joint account. What's left over is individual money to be spent as we each choose.

aswartzw · July 2009

We are budgeting $100/month for each of us. This will include any clothes shopping (outside of work clothes), unnecessary splurges like Aveda shampoos, and food money (eating out with friends or just to grab a coffee or lunch).

We're also have $100 for "us" fun-spending a month. It's really hard not to suddenly pick up fast food when I don't feel like cooking but we're both learning not to spend needlessly and to pack our lunch.

celestej619 · July 2009

Christine we do the Dave Ramsey method also! My inlaws paid off a huge amount of debt using that method and are now debt free. Dh has seen how it's worked for them, and is very motivated.

We're working on paying everything off. Already have his truck paid off, as well as my credit cards. Of course the money we got for being first time home buyers really helped with that. Only a few more bills to go. Yay!

We set aside our "blow (or fun)" money of $50 each every two weeks. It's not a huge amount, but works for us. We also have a seperate budget for our entertainment fund, clothing, gifts, etc.

jquirke9881 · July 2009

We do this and it works out well. Sometimes I need more and sometimes I don't use all that I get. We also budget for "fun stuff" each week so if we want to go out and do something or go out to eat it doesn't come out of our 'personal' money. I usually use mine to go out to lunch with friends or have some lunch break iced coffees. We budget for everything so I don't usually need to have too much extra on me for the week.

Weekly Allowance

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