Post # 1
Darling Husband and I are trying to set up a budget.
What I’m having trouble wrapping my head around is what kinds of things fall into our discretionary/fun amount.
So, I’m curious about how you do it, if you divy up your budget that way.
Things that come to mind would be:
1) Money spent while out with other people
2) Money on stuff for personal hobbies
I’m thinking clothes/shoes should go in a separate category, but I’m also thinking about just lumping that into discretionary spending too.
I’m also not sure how to handle meals out alone. Meaning – say, I go out and Darling Husband doesn’t feel like making dinner. Does that come from our grocery/meals out together fund – or is that part of his discretionary money?
He also goes out to lunch most days, while I’ll take a lunch to work. Seems odd if he’s spending his own discretionary money on that while I’m using our grocery money for my lunch… if that makes any sense.
I’m sure I’m making this far too complicated in my head… but I haven’t been able to figure out how to attack this.
Thanks in advance for sharing how you allocate and/or figure out what gets spent out of your discretionary / fun money!
Post # 3
We’re still figuring all this out. Right now I think we’re considering lunches bought during the workday or meals eaten alone as “dining out/discretionary,” which encourages us both to try to pack a lunch (way cheaper).
Post # 4
We keep our groceries completely separate from our fun/discretionary money.. We have a joint chequing account that we both contribute to that goes towards that.. and when we go out for dinners with friends, or movies or fun dates, that’s our fun joint money.. Groceries are only for food in the fridge that we both eat and have access to.
If I am out by myself and didn’t bring a lunch or didn’t feel like making myself dinner, I buy my own meal out of my own bank account. He does too if he is at work and wants food. We only use money in our joint account for things that we both use or contribute too (including pet food and home renos). Gifts for friends are generally out of our joint account.. But gifts for family is kinda a grey area for us since we usually pay out of our own money, but sometimes we don’t..
But yeah your own personal hobbies.. Your own time with friends.. Your own clothes/shoes/personal toiletry items/perscriptions.. Own bills (like own cell phone.. medical.. gym memberships etc). Car maintenance/bills.. Come out of our own bank accounts.
Post # 5
@Silverblade: ooh, very interesting! I considered all the phone/gym stuff joint. Ugh – I think we have to go back to the drawing board on this – because that really makes a lot of sense!!!