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Posted: 1/31/2016 1:03:10 AM EDT
[#1]
Quoted:
How much is a reasonable amount of pocket money, fun money, etc, that people use for their budget. ? Im trying to see if 3-5% of total monthly take home after fully funding 401k and all the deductions get taken out , what that amounts to. I realize everyones def of pocket money may be different so lets say its for things that you want but dont need. Thats such a vague question i dont even feel it can be answered without knowing a persons income, overhead and goals in life. 5% of the average persons take home pay is less than 2500 a year. Thats one vacation or a bit of maintenance on a fourwheeler. I had no fun money for quite a few years, now i have 1500 a month. Most of that is reloading and going to a fine dinner at golden corral or the local china buffet with the wife every couple weeks. Applebees for special occasions. 
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Posted: 1/31/2016 1:07:25 AM EDT
[#2]
Is your car paid off? Are your student loans paid off? Is your house paid off?
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Posted: 1/31/2016 1:49:57 PM EDT
[#3]
Depends on many factors.
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Posted: 1/31/2016 1:52:57 PM EDT
[#4]
I don't budget, I just buy what I want. Over the years I have found that I can spend what I want and still save money.
Everything I own is payed for though, minus my house. |
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Posted: 2/12/2016 9:59:39 AM EDT
[#5]
After all our expenses and 10% to 401k and 10-15% to savings we have 1500-2k a month in disposable income to spend on whatever we want.
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Posted: 2/12/2016 10:23:40 AM EDT
[#6]
I don't buy blow, so don't allocate funds for it.
Anything left after expenses and savings can theoretically be for "discretionary" spending. But I often end up saving it, I'm frugal. Cheers! -JC |
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Posted: 2/12/2016 11:02:39 AM EDT
[#7]
Quote HistoryQuoted:
I don't buy blow, so don't allocate funds for it. Anything left after expenses and savings can theoretically be for "discretionary" spending. But I often end up saving it, I'm frugal. Cheers! -JC I only allocate myself 85, and the wife 85 each month, but she is currently in college, and we are living off one income. Other income above and beyond my salary is considered fun/travel money. (national guard/profit sharing/flipping stuff) |
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Posted: 2/12/2016 9:22:42 PM EDT
[#8]
I have about 15% of take home pay each month that is discretionary, I try to keep it under 10% but it can go to 20% without any ill effects.
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Posted: 2/16/2016 9:21:39 AM EDT
[#9]
Not to steal the thread. How do you save money? I have some in a savings account but have trouble saving.
Posted Via AR15.Com Mobile |
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Posted: 2/16/2016 11:47:58 AM EDT
[#10]
$150 a week for the beer budget, which includes gas, food and well.. beer.
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Posted: 2/16/2016 12:39:14 PM EDT
[#11]
Quote HistoryQuoted:
Not to steal the thread. How do you save money? I have some in a savings account but have trouble saving. Posted Via AR15.Com Mobile There's no voodoo to it. It takes a written budget and discipline. Some have better luck with having an auto debit that transfers to a savings account at another bank that doesn't have a check or debit card linked to it. Most people that do that, set it up on payday so they don't notice it as much. No matter what, it takes discipline. Some struggle with it. I can understand it, I struggle with spending money on things I enjoy. I constantly think of the cost. |
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Posted: 2/16/2016 1:36:30 PM EDT
[#12]
Quote HistoryQuoted:
Not to steal the thread. How do you save money? I have some in a savings account but have trouble saving. Posted Via AR15.Com Mobile 1. Write out a budget 2. Stick to it 3. Adjust as you gather more financial data about your spending and needs 4. 5. Profit |
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Posted: 2/16/2016 1:40:48 PM EDT
[#13]
Quote HistoryQuoted:
1. Write out a budget 2. Stick to it 3. Adjust as you gather more financial data about your spending and needs 4. 5. Profit Quote HistoryQuoted:
Quoted:
Not to steal the thread. How do you save money? I have some in a savings account but have trouble saving. Posted Via AR15.Com Mobile 1. Write out a budget 2. Stick to it 3. Adjust as you gather more financial data about your spending and needs 4. 5. Profit Another thing that might help is to open a savings account and have the money pulled out by automatic payroll deductions. I did that some time back and after a few pay checks went by I just got used to it not being there to spend. |
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Posted: 2/16/2016 2:23:13 PM EDT
[#14]
Quote HistoryQuoted:
There's no voodoo to it. It takes a written budget and discipline. Some have better luck with having an auto debit that transfers to a savings account at another bank that doesn't have a check or debit card linked to it. Most people that do that, set it up on payday so they don't notice it as much. No matter what, it takes discipline. Some struggle with it. I can understand it, I struggle with spending money on things I enjoy. I constantly think of the cost. Quote HistoryQuoted:
Quoted:
Not to steal the thread. How do you save money? I have some in a savings account but have trouble saving. Posted Via AR15.Com Mobile There's no voodoo to it. It takes a written budget and discipline. Some have better luck with having an auto debit that transfers to a savings account at another bank that doesn't have a check or debit card linked to it. Most people that do that, set it up on payday so they don't notice it as much. No matter what, it takes discipline. Some struggle with it. I can understand it, I struggle with spending money on things I enjoy. I constantly think of the cost. I had issues with disipline until I made a separate account and took the debit card linked to it out of my account. everypayday I get 200 bucks put in, not really different from not walking down the baked goods isle when im trying to lose weight. out of sight out of mind. same with 401k and retirement deduct prior to take home pay and bam easy. FWIW I have about 600 a month before OT, if I work OT that goes up really fast and Im expecting 25k in OT this year. |
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Posted: 2/16/2016 2:30:34 PM EDT
[#15]
Quote HistoryQuoted:
I had issues with disipline until I made a separate account and took the debit card linked to it out of my account. everypayday I get 200 bucks put in, not really different from not walking down the baked goods isle when im trying to lose weight. out of sight out of mind. same with 401k and retirement deduct prior to take home pay and bam easy. FWIW I have about 600 a month before OT, if I work OT that goes up really fast and Im expecting 25k in OT this year. Quote HistoryQuoted:
Quoted:
Quoted:
Not to steal the thread. How do you save money? I have some in a savings account but have trouble saving. Posted Via AR15.Com Mobile There's no voodoo to it. It takes a written budget and discipline. Some have better luck with having an auto debit that transfers to a savings account at another bank that doesn't have a check or debit card linked to it. Most people that do that, set it up on payday so they don't notice it as much. No matter what, it takes discipline. Some struggle with it. I can understand it, I struggle with spending money on things I enjoy. I constantly think of the cost. I had issues with disipline until I made a separate account and took the debit card linked to it out of my account. everypayday I get 200 bucks put in, not really different from not walking down the baked goods isle when im trying to lose weight. out of sight out of mind. same with 401k and retirement deduct prior to take home pay and bam easy. FWIW I have about 600 a month before OT, if I work OT that goes up really fast and Im expecting 25k in OT this year. That's a good idea not having your debit card linked to the savings fund. Which means that if you want the money you to make the physical effort to get up and go to the bank to take it out. |
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Posted: 2/16/2016 3:16:12 PM EDT
[#16]
Thanks for the help and info.
Posted Via AR15.Com Mobile |
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Posted: 2/16/2016 10:09:27 PM EDT
[#17]
Quote HistoryQuoted:
That's a good idea not having your debit card linked to the savings fund. Which means that if you want the money you to make the physical effort to get up and go to the bank to take it out. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
Not to steal the thread. How do you save money? I have some in a savings account but have trouble saving. Posted Via AR15.Com Mobile There's no voodoo to it. It takes a written budget and discipline. Some have better luck with having an auto debit that transfers to a savings account at another bank that doesn't have a check or debit card linked to it. Most people that do that, set it up on payday so they don't notice it as much. No matter what, it takes discipline. Some struggle with it. I can understand it, I struggle with spending money on things I enjoy. I constantly think of the cost. I had issues with disipline until I made a separate account and took the debit card linked to it out of my account. everypayday I get 200 bucks put in, not really different from not walking down the baked goods isle when im trying to lose weight. out of sight out of mind. same with 401k and retirement deduct prior to take home pay and bam easy. FWIW I have about 600 a month before OT, if I work OT that goes up really fast and Im expecting 25k in OT this year. That's a good idea not having your debit card linked to the savings fund. Which means that if you want the money you to make the physical effort to get up and go to the bank to take it out. Exactly. The ONLY thing i have ever struggled with in my life is food. Im a heavy boy, always will be. Love to eat. Bread, pasta, meat, potatoes, and chocolate. Thats all i crave. When i was skinny in highschool and ran 10 miles a day i weighed 225 at 5'8". I lost the genetic lottery. I carry my weight pretty well but had to get my blood pressure under control and wanted to feel better. Like i was a young man again. For me to stop eating out (its nothing for me to drive by a Mcdonalds and buy 3 combo meals and eat again 4 hours later) i stopped carrying a debit card. I had my work credit cards and thats it. After a couple years of battling those demons i got to where i can now carry a debit card and not make foolish diet choices every day. Same concept. Its tough to retrain the human mind. We all have certain things we need to retrain. 99.9% of people won't do it because it isnt fun, easy, or instant. There are still days that i want to eat 2 streaks, 4 baked potatoes, and 20 rolls. 
In my wallet i have an old post it note that says "stop you fat bitch, make reasonable choices", that helps remind me not to slip up in a moment of weakness. 
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Posted: 2/17/2016 2:50:34 PM EDT
[#18]
Each payday I get 200$ cash out (paid every 2 weeks). $100 per week for eating out, fun, etc.
Friday after work $100 goes into my wallet and the other gets set aside, next Friday anything I have left over from the previous week goes into a jar, and a new $100 goes into the wallet. After a few months of doing this I have a good chunk of change in the jar and can use it for whatever I like. (new lawn mower, car parts, tools, guns, ammo, going out with the guys, vacations.) If I want to move cash to my savings I will pay my mortgage with my fun money and then transfer my payment into my savings account. Key, for me anyways, is to have a tangible realistic value to play with (Its not too excessive and I can see when its gone) and a reserve (in the jar) in case I want to do something a little extra or have something unexpected come up. |
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Posted: 2/17/2016 3:33:01 PM EDT
[#19]
The key word is "reasonable." What is reasonable to you may not be reasonable to me. My budgeted fun money allotment keeps me in the "gun a month" club. Most months I divert my fun/beer/gun money into savings or ammo. The world is uncertain and I'd like to have more to show for my fun money then a beer gut. Kudos on maxing the 401k contribution by the way.
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Posted: 4/14/2016 1:51:05 AM EDT
[#20]
Quote HistoryQuoted:
$150 a week for the beer budget, which includes gas, food and well.. beer. That's what I get. It has to buy everything for me. So fuel for toys, beer, gun stuff, etc. |
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Posted: 4/14/2016 7:11:51 AM EDT
[#21]
Quote HistoryQuoted:
I don't budget, I just buy what I want. Over the years I have found that I can spend what I want and still save money. Everything I own is payed for though, minus my house. Quote HistoryQuoted:
I don't budget, I just buy what I want. Over the years I have found that I can spend what I want and still save money. Everything I own is payed for though, minus my house. This ^^^ Quoted:
I don't buy blow, so don't allocate funds for it. Anything left after expenses and savings can theoretically be for "discretionary" spending. But I often end up saving it, I'm frugal. Cheers! -JC and this ^^^ It depends on your income etc. Some people are on such a tight budget that they HAVE to budget certain amounts. Me? I've developed the self-control necessary to not "blow" money on things I don't need or highly desire. If I come to a month that I want to buy a big purchase, I've got the money, sometimes I'll go months without any discretionary spending... because there is nothing I desire. That being said, I don't consider money-making or money-saving purchases as discretionary, nor do I consider home/house improvement, furnishing, etc purchases discretionary. |
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Posted: 4/15/2016 7:43:18 PM EDT
[#22]
I have 2 accounts. One account gets 1200$/month which coveres gas groceries beer, eating out, whatever. The other account gets the remainder of my paycheck. After I pay bills each pay check, I put the remainder in savings. Usually about 1500 a month.
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Posted: 4/16/2016 3:24:16 PM EDT
[#23]
After all bills are paid, retirement and kids college funds are funded I make sure my savings grows each month. I don't have a set budget really I just make sure I have more money to my name this month than I did last month. It sounds overly simplistic and it is but it works. If you make sure you have more money in the bank each month than you did the month before over time you will amass a lot of money. Some months I might add a lot others not so much but I tailor my spending so each month is positive savings.
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Posted: 4/29/2016 2:52:16 PM EDT
[#24]
Quote HistoryQuoted:
Not to steal the thread. How do you save money? I have some in a savings account but have trouble saving. Posted Via AR15.Com Mobile Pay yourself first. Move money to savings the instant you get paid. Don't count on saving at the end of the pay period, because you will always have had a car repair, or an expensive grocery run, or had a million little things happen. I have always had money either taken out of the paycheck and saved directly, OR transferred it the minute it hit my checking account. Either way works, and if you don't constantly watch it but just let it grow, you will surprise yourself when you have real money to play with for that next vacation or the next firearm. -shooter |
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