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This is my favorite line in the budget.
Last year, while I struggled financially and professionally, I really didn’t do anything socially. I rarely went out for a drink, I never bought any clothes or anything for myself unless I had to (for example: when my only pair of jeans finally sprouted a hole). As mentioned in the introduction to this series, I rarely took my fiancé out on dates. Sounds pretty miserable, doesn’t it?
I’m not going to tell you to ignore your financial troubles, but you do need to get your mind off of them for the sake of your sanity, right? You need to go see a movie or treat yourself to a new pair of shoes (if you’re into that sort of thing). You need money to blow on stuff. Some people call it “blow money” or “fun money”. We call it “play money”.
Play money is the “no questions asked” line in the budget. It’s the money that my fiancé and I don’t need to explain to each other. As long as we have room in the Play Money budget, we can do whatever we want with it. She can buy more clothes (like she needs them), and I can grab a beer with my Best Man. She can go out to eat with her old friends from high school, and I can buy Bob and Brian albums.
Plus, we can go get a nice dinner together, or spend an off-day at IKEA imagining our future home, or go see a movie. Play money is like a candy bar to a dieter. It’s not something you need in excess, because it will completely derail your diet. But a well-placed candy bar lets you reward yourself for all the hard work you are doing.
It doesn’t have to be a lot, either. My play money is $75 every month. That’s hardly anything that’s going to paint the town red on a regular basis. But I can buy blank DVDs, a good dinner, and a few beers with that money every month.
It Does Two Things, Depending on the Person
To be honest, for my fiancé, it forces her to limit her shopping. She bonds with people over going for pedicures and grabbing a bite to eat and buying a bunch of clothes. And that’s perfectly fine! But now she just has to make sure that day doesn’t turn into $250 out the window. For me, on the other end of the spectrum, it forces me to have a life. I’ve spent a lot of time sitting around by myself because I’ve been broke. Now I can make sure I get together with friends and enjoy my life a little bit.
Ever go out and swipe your card thinking, “I really shouldn’t be doing this…” That type of night really puts a damper on your mood. The Play Money line in your budget liberates you from that by making sure you know exactly how much you can spend. You may have to limit yourself to more low-key activities like buying a case of beer and hanging out with friends at home, but it sure beats sitting at home alone doing nothing or that feeling in your gut when you know you shouldn’t be paying that much while you’re out.
Tom is an entrepreneur and freelance writer, working out of his apartment full-time, or wherever he feels like taking his laptop. He doesn't take long European vacations or blogs on the beach. He's an Average Joe that took control of his life. He wants you to do the same.
