Comments on: Do You Need An Adult Allowance?

By: LinearChaos

LinearChaos — Tue, 21 Apr 2009 21:12:05 +0000

I’ve been toying with this idea for some time now. I have no problem putting together a budget, I just seem to always bust it at the seems.

Maybe it’s time to lock my extra money away from myself and give myself an allowance. I think it’s gonna have to be a control thing for me.

By: Matt Fyffe

Matt Fyffe — Thu, 16 Apr 2009 14:06:37 +0000

This is a great idea and one I plan to take into practice. I’m too anal about saving money and while it’s built up my savings account, it’s severely limited how I enjoy the present. I always feel poor because I don’t see most of my money, it just goes to savings. Setting up an allowance is a nice way to get the best of both worlds.

By: Mr Plasectomy

Mr Plasectomy — Thu, 16 Apr 2009 12:03:24 +0000

Same here with the allowance or “blow money.” I believe it is a must for any budget. You work, work, and work, but for what if you cannot spend it on something you WANT versus the NEEDS.

However, one of the things of budgeting is to actually recognize true NEEDS; food, shelter, transportation, utilities, insurance.

By: Travis @ CMM

Travis @ CMM — Wed, 15 Apr 2009 15:38:18 +0000

I set my wife and I a monthly allowance and it works great. Actually I’m in the negative on mine for the year but it will all work out. If nothing else I’ll just steal from her’s. Just Kidding.

But seriously it’s a great thing to have, and I highly recommend it.

By: Corporate Barbarian

Corporate Barbarian — Tue, 14 Apr 2009 20:18:38 +0000

I treat my weekly “allowance” as a zero-based budget that resets itself each week. Whatever I don’t spend by the next payday gets put into an envelope. I treat this as a mini emergency fund for small, unexpected expenses, like pizza, girl scout cookies, etc.

By: Amy

Amy — Tue, 14 Apr 2009 17:40:32 +0000

My husband and I have been doing this allowance for about 6 months and we love it! We started out very small but we have increased it over time. My only problem (?) is that I have a tendency to save half of it.

By: Luke

Luke — Tue, 14 Apr 2009 15:40:25 +0000

In our house adult allowance is called “blow money” – and it usually is set aside in an envelope for monthly spending. If there is a new DVD I want, or a scrapbook supply my wife wants, we use some of this “blow money.”

One benefit of having a system like this between couples is that the rules stipulate we don’t get to question purchases made with our adult allowance. It is our money to spend as we wish.

By: Dan

Dan — Tue, 14 Apr 2009 13:34:50 +0000

My wife and I have been operating on an allowance for several years now. More than a few people have given us an odd look when we’ve talked about it, but it’s really been working well for us.

My wife splits her allowance between ready cash and saving for a baby grand. So far she’s got about half the amount she needs for the baby grand.

I’ve had a bit of a spending problem in the past, so working with an allowance has been a great education for me. Previously I’d do a lot of impulse buying. Now I make a serious effort to establish long term plans for my personal spending.

By: Wojciech Kulicki

Wojciech Kulicki — Tue, 14 Apr 2009 12:40:20 +0000

I wrote about this a few weeks ago, and agree that it’s a fantastic idea. My wife and I have been using allowances for over 3 years, and the little freedom we enjoy from having some play money is awesome.

I think it actually helps you save money in the long run, because you feel less restricted about having to ask your spouse about each purchase all the time…

As we talked about during PF hour last night as well, it’s great for secretly buying gifts without the other person knowing!

By: Jim

Jim — Tue, 14 Apr 2009 12:11:39 +0000

Allowances also help set expectations for yourself if you have difficulty understanding them. Rather than wondering if you can afford something, you know how much you can spend and it frees up your mind to worry about other things!

By: Baker @ Man Vs. Debt

Baker @ Man Vs. Debt — Tue, 14 Apr 2009 12:00:36 +0000

“But as an adult, giving yourself an allowance doesn’t have to be controlling. In fact, it can be very freeing.”

This is exactly how I felt. The notion of an adult allowance really seems like it would be restricting, but in reality all you are doing is budgeting a set amount you want to spend.

I found it to be much more “freeing” than anything. It allows me to spend without feeling guilty!