Tuesday, July 12, 2011

Bugdet: Allowances (for adults)

 When my husband and I were running our businesses (before he became disabled) we found it difficult to set up a budget. I tried to keep most of our bills as low as I could but because we were self-employed our income varied from month to month making it difficult to budget. But, since he became disabled our income is pretty much fixed. One benefit is that I know how much is coming in each month and can budget accordingly.

The best advice I received concerning a budget is to assign an allowance for both husband and wife. We would have saved ourselves a lot of fussing in the early years of our marriage if we had followed this advice.

I've allowed $40 a month in the budget for each of us. We both love having an allowance because:

- An allowance allows us to buy something special.
- An allowance helps us not feel deprived from a restrictive budget. (we're spoiled Americans!)
- We can save our allowance for bigger purchases that could not otherwise be afforded.

This past week I spent my $20 allowance on a haircut. I've been cutting my own hair and imposing on friends and family to give it a whack for nearly 2 years. It was long overdue for an even trim. I've also used my allowance to spend extra on the grands birthday gifts, purchase new clothing and a 'girls day out'.

An allowance cuts down on the temptation to argue over money. When one spouse thinks a decision to spend money in a certain area cannot be afforded then an allowance could be used.

An allowance is not just for kids! :-) 

I'm thankful for my allowance!

19 comments:

  1. Amen to that! It's easy to feel deprived when you're on a tight budget. If we get little things here and there it makes us alot more likely to go haywire with our funds.

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  2. alot less likely, I can't type lol!

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  3. What a fabulous idea - I love it!

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  4. We've decided to do this just this past month. Moving has certainly changed our perspective on money even though I've been frugal for years. Now at the end of the month we will each get a small allowance. I think it's a perfect idea and like you I wish I had done it years ago. Hugs

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  5. Great idea. Helps with coveting and envy.

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  6. My husband and I do the same thing. We each get a set amount each payday that is ours to do with what we want. I can't tell him how to spend his and he can't tell me. It just helps to have some fun money that doesn't have to be accounted for.

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  7. That's a super idea. I think it would be easier to keep spending on little extras in check if I was thinking of it coming out of the smaller allowance instead of the whole month's salary. Ya' know? ~Liz

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  8. We have an allowance too. I think it's so important when budgeting to make sure you both have a bit of money for the odd treat such as a cup of coffee out with a friend or I like to buy myself some nice wool! :) Gx

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  9. We used to do this, but our budget is quite tight right now. I'm hoping to have enough for "allowances" again soon, but for now, we just share any "extra" money that comes our way. ;)

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  10. Great idea. I remember my dad having envelopes for his budget--I think you mentioned that before.

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  11. A very good idea! Something to look forward to also.....

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  12. I'm not sure what is going on with Google but I'm unable to sign in. I know 'newkidontheblogg' has had the same problem. Has anyone figured out how to solve this? I'm unable to post on any of your blogs. Georgene

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  13. Wow! I really like your blog! I signed up to follow it! I wanted to invite you to follow mine too! It's called Cozy Seaside Homestead www.cozyseasidehomestead.blogspot.com and it's about homemaking and making things! I have a recent challenge going about feeding my family on $12.00 a day! Lately I've been doing lots of frugal recipes!

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  14. Fantastic idea, fantastic advice. I know I've 'kept track' in the past on his purchases and mine, and when he spent way more than me, it always caused hard feelings, especially when I was trying to be frugal. I think couples argue more over money than anything else-- thankfully, we've come around to more (could improve a lot more!) of God's way of viewing finances--that's the best way.

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  15. Just wanted to share with you that I put that zucchini jam recipe up on my blog. www.cozyseasidehomestead.blogspot.com

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  16. Just checking on you guys. Haven't heard from you in a while. Hope you're doing okay in this hot, hot summer! ~Liz

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  17. @LizBeth You're so sweet. Yes, we are fine. I've just had my hands full between caring for both my husband and Miss Alice along with my mother's cataract surgery and my work twice month. I just don't multi-task as well as I used to and find that to be 'pleasant' I must not over schedule. Thank you for checking on me.

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  18. I'm a divorced person living on my own, well with 2 Doxies, and I give myself $10 week as an allowance. I spend it on soda pop, slushies, fast food, cheap movies, lovely tea, whatever. Its my mad money and it makes easier to stay on budget. I got the idea from a boss a long time ago. He had a docterate, was a school principal, and his wife the cake decorator gave him an allowance because he was awful with money and he knew it. Its a good plan for everyone.

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