I'm trying to save $10-15,000 next year for an important goal of mine.
I'm wondering what other ladies allow themselves as "pocket money" per fortnight after bills and essential items are paid for. I really want to save this money, and will also be putting any money earned from extra shifts, tax return etc into my savings account.
Savings and spending
Savings and spending
Posted in:
Money
5 Replies
I give myself $40 a week play money. That doesn't include money I spend on fitness (as I see that as a necessity). Sometimes I spend less, sometimes more, but it averages out to that amount.
Any less than that I start to rebel and over spend lol
I just work out what i need nails, takeaway, few coffees, and save the rest.
If ive saved a smaller amount im stingy if iv saved more i might spend a bit more, have a no pressure fortnight.
My husband and I each get $50 a fortnight. We use cash only so you're more aware of what you're spending.
We treat our savings as an essential and transfers automatically every fortnight after pay day ($400 a fortnight so our savings for a year is just over $10000). Our spendings account is kept at $5000.. At the end of the month any extra we've earnt/tax return ect that puts us over that amount is transferred to savings as well
Think less about pocket money and more about goals. $10,000 by Christmas next year is about $165 a week so treat it as a bill. Put aside your $165 (and you'll have more than 10K by then as you'll have added interest), pay other bills, put aside regular savings etc, then look at what is left over for what you have available to take your pocket money from.
If you have a set amount you need and s time frame id be working backwards e.g. : 10000 in exactly 1 year (52 weeks) means you need to put aside $192 a week ... if you make it a priority and treat it as a bill you will need to put that amount aside first before any spending money ....