Fun Money... :(
Every pay period, my wife and I set aside some “fun money.” Popularized by Dave Ramsey, it’s built into your budget and gives you the freedom to spend however you wish. No guilt. No regret. No accountability. Just go have fun with it.
Initially, the idea seemed ideal. But after blowing through a few hundred dollars one month, I felt sick about it. Not because I have a problem spending money — I don’t. What bothered me was that I’d spent it without a plan or any clear intention. I felt empty. Wasteful.
And no, this isn’t about a scarcity mindset, systemic issues, trauma, or anything like that. I value being a good steward of my resources — fun money or not.
I’m the guy who hates shopping, gets distracted by some cool-looking item up front with a 30%-off sign on it, and forgets why he walked in. I buy that item with fun money, spot another thing, buy that too. By the time I get home, I realize I forgot the one thing I actually came for — and immediately regret the rest.
Thank God for an efficient return process.
Spending mindlessly doesn’t do it for me. Executing a plan does.
So, many moons ago, I started setting aside a portion of my fun money for gifts and date nights with my wife and our two boys. I keep a few dollars for myself, but what brings me the most joy is using it to find creative ways to spend time with them, be generous, or invest. That’s fun to me.
To stay on track, I create a spending plan for my fun money — which might sound like a contradiction. Can money really be “fun money” if it’s budgeted? But spending without a plan or a clear objective doesn’t satisfy me. I’d rather save it until something comes along that I actually find fun, engaging, or meaningful.
In the words of Drake on Shabang, I’m going through opportunities to buy stuff like, “mid, mid, mid, skip, skip.”
Which got me to thinking: Am I the only one?
If you set aside fun money, do you plan for it? Or party like a rockstar?
I’m not suggesting my way is the right way. Personal finance is personal for a reason. Splurging without clear intention isn’t an enjoyable experience for me.
What about you?
Until next time — you have more power than you think. Own it!