One important factor in making your budget work

An important key to getting healthy financially is having a budget and one key to having a successful budget is keeping it realistic.You can create whatever budget you want but if it doesn’t accurately reflect what you really spend then it’s just numbers on a page. One important category you need to have in your budget is blow money.

What is “Blow money”?

This is money that you can spend on whatever you want no questions asked. This is your pocket money basically. This is the money to buy the bottle of coke on the hot day when you are filling up the gas tank. Maybe you are a book lover and you like to stop by the book store and pick up a couple books once in a while. Maybe it’s the occassional side trip to Starbucks or Dairy Queen. Maybe it’s a hobby that you spend a little on each week. Or perhaps you want to save your blow money to make a larger purchase. This is essentially your money to use for whatever you want to use it on.

How much should be allocated to blow money?

The answer really is it depends. If you are making $20,000 a year then $100 a week blow money isn’t really realistic. By the same token if you are making $200,000 a year then you can probably afford more than $5 a week for blow money.

It also depends on your financial situation. If you are deeply in debt and barely able to make your payments then you can’t really afford to be allocating much to blow money. You should still allocate some. If you don’t you’ll probably have a hard time sticking to your budget. But it should be a small but realistic amount.

If you are debt free and doing ok financially, then you can afford to loosen the purse strings a little and allocate a little more for blow money. You are in a position at that point to be able to enjoy life a little more. 

Stay on track

Having a reasonable allocation  of blow money for your situation each week will help you to keep your budget on track. We all know there are minor expenses that come up from day to day. If you don’t plan for them, you’ll be robbing other budget categories when these things occur, and before you know it you’ll find your budget starting to breakdown.

A small amount of blow money is necessary to allow you to continue to live life while you get your financial house in order.


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