Last week, you exercised your planning muscles. So this week, plan a fun purchase!
We asked Taylor to reflect on what he feels when he plans for a fun purchase. He said,
“It’s a good feeling to wait for that big fun purchase that you’ve planned on for next month. It feels like you have self control when you wait.”
It sounds like, in Taylor’s case, he had an item in mind that he was waiting to purchase in the next month. Having the ability to plan and wait to save up for something requires a lot of self-control, which is an important part of budgeting. And what’s most important is developing the habit of checking our Fun Envelopes before we make any unplanned splurges.
Today’s Assignment
- Plan for a fun purchase that’s within your budget. (See Chi-En’s tips for how she decides whether to spend, splurge, or save) Maybe that’s going to get a cup of coffee from your favorite coffee shop, or buying that new book you’ve had your eye on. The key here is to take a look at your budget to make sure there’s enough and then plan your fun expense accordingly.
- Build your delayed gratification muscles. Don’t spend just yet, it’s worth the wait!
- What are you planning to spend on? Share your ideas in the comments below. And maybe someone else’s idea might inspire you too!
Happy budgeting,
-The Goodbudget Team
14 thoughts on “Planning for Fun is… Fun!”
I’m going to go out to dinner with a friend!
Music lessons!
buying something you don’t need just because it’s fun and brings you joy!
My husband and I both have our individual fun funds as well as an “our Fun” Fund. On top of that, I’ve created funds called “rotating funds” for each of us individually and joint as well. Our rotating fund is the money we didn’t spend on Fun for the week and eventually allows us to buy pricier items we want, like fine jewelry or a really nice set of tools, and the joint rotating fund is for larger purchases made together like for a new car. I have also made it a practice to immediately set aside some of my fun money each week before I spend anything because I’ve realized that the things I like more often carry a bit bigger of a price tag, so that way I’m already in the mentality of figuring out when to spend, splurge or save.
I want to get a drip coffee maker or a French press. I will save for that and buy it in 3 months.
Saving for a vacation
Free fun is what we do.
Saving for a home and business
Currently saving for a commemorative tattoo. Hoping to have it done before the end of May.
Saving for a tattoo, I hope to do it at the end of April, I am also saving for a professional camera.
I definitely like this idea. I have a cookbook that I want to buy, but I haven’t budgeted for it this month. I will plan for it for next month. Can’t wait!
I’ll probably splurge on a car wash for my van.
Probably by biggest expenditure is travel. My wife and I love to travel and that’s where a lot of our money has gone in the past, without any planning. So for our next trip, we will plan this financially and see if we can stay disciplined.
Not sure what I want to do with my fun. I’ll probably save it for next month Memorial Day weekend so that I have some spending money if I see something I like. Next month I’ll be allocating more to it, travel, & the family memories – I mustn’t forget to allocate for more food because of it. Who knows maybe I’ll get myself some fudge.