Budgeting for necessities like your mortgage, savings, car payment, etc. is important, but that doesn’t mean you can’t enjoy yourself. A well-rounded budget should also allocate funds for fun and leisure activities. If you need help editing your budget to include fun expenses, we can help! Eastex Credit Union wants to assist all our members with their financial goals.
Choose Your Fun
Don’t feel guilty about spending money on enjoyable experiences; they’re essential for a fulfilling life. Start by making a list of things that make you happy—be specific! Whether it’s a new pair of shoes, an electronic, or a weekend getaway, identifying your desires is the first step. If you have a spouse or partner, consider their wants too. Collaborating on your list can help you both set realistic savings goals. You should each choose items that you can realistically save for and make that your goal. Once you know what to save for, it’s time to evaluate your current budget.
How Much to Budget for Fun
A popular budgeting guideline to follow is the 50/30/20 rule. This rule recommends you allocate 30% of your income to elective spending – this includes fun activities and purchases. It’s a clear-cut way to budget all kinds of expenses including for fun. If there are specific items you want or a vacation you are planning, you can adjust your budget to put money towards that goal. Remember, keep your goals realistic. It can take time to save on some of these purchases, but it will be worth it in the end.
What If You Can’t Budget for Fun
If you’re struggling to set aside money for leisure, it can feel frustrating to never have enough for shopping or dining out. In this case, reevaluating your budget is essential. You might be overspending on necessities, leaving little room for enjoyment. Saving a little each month can still go a long way to help you have fun. If there’s still no room, check out your local community for low-cost events.
Use Cash for Fun
When planning a trip or holiday shopping, consider using cash to avoid overspending. Cash creates a tangible limit, helping you stick to your budget without the temptation of impulsive purchases. Before heading out, decide how much money you want to bring. Once you have your limit in mind, enjoy your outing! You’ve taken the necessary steps to plan for fun, so relish the experience without guilt.
Make a Fun Money Savings Account
Wanting to set your fun money completely aside? Check out an Eastex Credit Union savings account to get started on your journey. With a savings account, you’ll earn interest to help you save up for fun purchases. You don’t have to completely cut out things that enrich your life and make you happy; you only need to budget for them! Talk to an Eastex representative today for more questions on budgeting and saving today!
