I have to admit something. I am not very good at obeying important conventions when it comes to budgeting. I mean we have a budget and we allocate a certain amount to it. I try to stay within those limits per month, but I don’t do a zero base budget. I like the idea of it, but don’t have as much discipline as I need too.
So I am one of those people that needs to be taught discipline in certain areas, including budgeting and handling money. By outside accounts we are doing ok with our finances. We pay our bills every month on time. We have a positive net worth. We make a pretty good living, but there is a LOT of slack in what we spend our money on. I track it every month, but don’t put the clamps down even further.
That has to change and it has to start with me. So I am going to try a new financial experiment. I am going to give myself an allowance. An allowance in cash.
I was thinking $100 for the month.
That $100 is for things like lunches at work, different things that I might want to get, a movie or two. Once that money is gone then it is gone.
I know that this won’t solve our biggest issues like how much we spend on food, particularly restaurants and take out, but I hope that it will help a little bit.
So that is it for my 2nd experiment of the year. The first was the cryptocurrency experiment, which is going badly, particularly for all kinds of folks who invested in crypto. It has gone down by 50% since its high in January. That is ok, I am fine with it, but I need to start teaching myself some better habits.
They say it takes 90 days for establish a habit or break one. I hope this allowance habit will be one that I keep because it could save us a lot of money in the long-run.
I am still a work in progress in terms of money, but I am getting better.