Never Enough Spending Money

November 2nd, 2007 at 01:11 pm

Why is it that I have five different places to spend each dollar that I earn?

My wife and I put together monthly budgets (get yours FREE by clicking

HERE) and that means I get my spending money once per month.

By the end of the month, it is extremely rare for me to have money left! Why? Because, I am the spender of the family. Take for an example this month. I had $3 left on Monday. It left me by Tuesday. On Wednesday and Thursday, it was $0 expenditure days! It was impossible to overspend because we use cash envelopes! When the money is gone - it is GONE!

Some might say, "Joe, you are dad-blamed crazy! You have no debt except the mortgage and could easily increase your spending money. Why do you insist on living this way?!"

The reason? Jenn and I have some big huge dreams. Some of those dreams include paying cash for Melea's college, paying cash for her wedding, funding our retirement well, giving Melea a paid-for house to start life out with, and giving to some worthy causes that we really believe in!

Sure, I can bump up the spending money, but I will just be robbing myself of some of my future dreams!

I hate robbery and theft, and I REALLY HATE IT when I rob from myself!

So yesterday started a new month. I have money to spend again. Trust me, I am confident that I will spend 90% of it during this next week.

With all of that said, here is how I have planned to spend the money this month. By the way, I used the Mini-Budget to plan my Spending Money. You can get your FREE copy HERE.

Read recent posts by Joe

I am so excited to be teaching the Financial Learning Experience in Canton, Georgia on Sunday! The first session has sold out, so I will be teaching the FLE twice! There are a few tickets remaining for the 1:00PM - 3:00PM session. You can obtain more information by clicking HERE.

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Posted in Uncategorized | 4 Comments »

4 Responses to “Never Enough Spending Money”

Caoineag Says:
November 2nd, 2007 at 01:33 pm 1194010431
1194010431

Have you ever tried giving yourself a bi-weekly allowance? I had a problem with spending all my "free" money in the first two weeks so I switched to a bi-weekly plan and it lets me have the money last longer. Even though you probably go the same amount of time without money, it feels less like deprivation because its split up. Just a thought.
EmptyPockets Says:
November 2nd, 2007 at 03:19 pm 1194016742
1194016742

I admire your discipline and ambitions. Although it is extremely nice and generous, I'm not sure that paing for your child's entire college eduction and buying her a house is the best thing in the long run for her. If the big things in life are provided for her, how does she develop financial discipline and drive, plus the pride of being able to provide for herself? The Millionaire Next Door has some interesting thoughts on providing for children.
jsangl Says:
November 2nd, 2007 at 04:14 pm 1194020083
1194020083

Empty Pockets,

My daughter will CLEARLY understand money and the power of hard work.

She is 7 years old and assists me with teaching my finance class already!

I want to teach her this stuff early and often so that her inheritance does not ruin her life!
Stein Says:
November 2nd, 2007 at 05:39 pm 1194025199
1194025199

Sounds like an excellent plan and something we hope to follow when we finish cleaning up our mess.

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I Was Broke. Now I'm Not!

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Never Enough Spending Money

4 Responses to “Never Enough Spending Money”

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