$84.25

That's how much spending money I have. After the bills are paid, I've set aside my tithe and gas money for the week, and I still have this much to spend. I don't know what to do with it. I don't need more clothes, I don't have any need for...random stuff. And I don't particularly care to go out and do stuff with ALL of that. I'll treat myself to one lunch out and maybe some pool on the weekend. But I couldn't POSSIBLY blow $84! And next week I'll have at least $60 to spend, according to my budget. This week was high simply because I had stuff leftover when the paycheck came in.

So, menewsha, what does one do with fun money?

Dude if I had spending money the first thing I would do is buy new clothes because I haven't updated my wardrobe with stuff that's not free in like seven years. It needs a total overhaul so badly :gonk:

After that I'd donate to Mene more and supply CI's in the exchange again.

Next I'd probably shop around for a Nintendo DS or upgrade our old geezer XBox to one of the fancy new black ones.

Anything over that would get thrown at hubby's student loans or go into savings for retirement or for a home down payment or maybe a new car.

Cool

I'd save up for my future child. :) I also want to go camping before the baby comes so that's another thing I'd use the money for.

Most times, we splurge on some take-out food.

Honestly, I'd save it. I budget myself spending money for fun, and then, after bills and what not, whatever is left over, goes to my savings account to (hopefully) pay off a large chunk of my student loan in one huge go.

I budget so that my spending money is the tip-out I receive every two weeks. Everything else goes to paying off my credit card(almost there...finally), putting some in my Mutual Funds for retirement, and saving for vacation.

I'd save it for my text books next term. They are raising the prices of schooling so I have to be careful this summer with my money.

You have no idea how jealous I am of your not-spending skills! :gonk:

I got a £1000 bonus from work on Friday. I thought "yay, so that's all play money! Hurrah!"
That was 5 days ago. More then £600 of it is gone. I'm not even sure how!

I'd save it. :) It's my goal to one day own a house of my own, if I can ever manage to save up enough money. I hate paying rent.

Originally Posted by Darth Mudkip

I'd save it for my text books next term. They are raising the prices of schooling so I have to be careful this summer with my money.

Yeah, that's what Dad asked me to do as well. Since Mom and Dad aren't asking me to pay room or board it's the least I can do.

---------- Post added 06-01-2012 at 07:22 PM ----------

Originally Posted by Antagonist

I'd save it. :) It's my goal to one day own a house of my own, if I can ever manage to save up enough money. I hate paying rent.

Yeah, I hear mortgage payments are less than rent these days.

---------- Post added 06-01-2012 at 07:23 PM ----------

Originally Posted by Cherish

You have no idea how jealous I am of your not-spending skills! :gonk:

I got a £1000 bonus from work on Friday. I thought "yay, so that's all play money! Hurrah!"
That was 5 days ago. More then £600 of it is gone. I'm not even sure how!

Hence the reason I ALWAYS look at my paper balance before buying anything. Some people look at their bank balance but that's not always right because some charges might be holding out of sight. When they reappear, it hurts. Bad. :feesh:

---------- Post added 06-01-2012 at 07:24 PM ----------

Originally Posted by Draciolus

I budget so that my spending money is the tip-out I receive every two weeks. Everything else goes to paying off my credit card(almost there...finally), putting some in my Mutual Funds for retirement, and saving for vacation.

I'll most definitely put retirement funds in my budget once I start my career. Mom's said I could possibly start an IRA or something now, but I might need more credit first or something.

---------- Post added 06-01-2012 at 07:25 PM ----------

Originally Posted by Liztress

Most times, we splurge on some take-out food.

Yeah, that's what I tend to do. My money goes the fastest with food. What can I say? I love eating! :P

---------- Post added 06-01-2012 at 07:29 PM ----------

Okay, so you guys have had some GREAT responses. Here's another question to keep this conversation going:

I've been paying off a secured loan at my credit union for some time now. Once I have my second pay stub, I'll be eligible for a small credit card. What I plan on doing is buying everything on that card. When I make a purchase on the credit card, I move the total from my main checking account to my secondary- the one I don't have a card for. Once a month, I'll pay off my credit card with the money I've set aside in that secondary checking account. Along with whatever interest that's accrued. Once I have a good amount of credit, I'll get more cards and do the same thing. What I'm hoping to do with my plan is to earn credit, but never lose track of spending or get the illusion that I have more money than in reality.

What do you guys think of this plan? Any ideas on how to improve it?

Re: Credit card.

No. You absolutely do not need it, especially since you already have a loan.

If you ever need credit (like for a car loan or home loan), I would instead suggest that keep all records of any bills that you pay. Banks can make you a "credit score" based on your ability to pay for things like your cell phone, car insurance, etc. without you getting a credit card.

There's simply no need for a credit card.

If you feel you absolutely MUST have one though, only get ONE and ONLY ONE. And don't ever exceed 75% of the limit you are given--for example, if your card has a $500 limit, don't ever charge more than $375 to it at a time. If you constantly are hitting your limit, even if you pay it off, that looks bad.

And always ALWAYS pay off the balance at the end of the month. If you are unable to, then fill a cup with water, drop your card in, and put it in the freezer until it is paid off. And don't you dare thaw it until the balance is paid! Paying interest on a card is like "paying" someone for a good credit score, which you don't even need to do if you keep good records of stuff you're billed for regularly anyway.

(p.s. if you do freeze your card, DO NOT microwave it; this will ruin the magstrip and render your card useless!)

Wow, Keyori said it all..... If you do have a loan, paying it off builds your credit score. I don't have a credit card and I never will. It is too great a temptation to think you have money to spend, even if you think now you won't feel that way once you get the card. Besides, putting that money back (going to the beginning of your thread) into savings now, you may be able to pay for college with cash. I will be working my way through school so I don't take anymore loans. They and credit cards are unnecessary burdens.

Sorry, I will get off my soap box now... I'm very interested in economics and I'm an accounting major - it's in my blood!

Sadly, Sora doesn't save as much as he should. He usually spends when he's out with friends. Sora understands when he does it on food, but most of the time, he buys stuff he sometimes regrets. For example, when he went to Barnes and Noble, Sora was in a BIG Loki conundrum (still am) so he bought 2 Avengers books, One has pictures from the movie (which he doesn't regret) but the other one is a child's sticker book......Sora could've walked away from that one =3=

Originally Posted by superstition

Wow, Keyori said it all..... If you do have a loan, paying it off builds your credit score. I don't have a credit card and I never will. It is too great a temptation to think you have money to spend, even if you think now you won't feel that way once you get the card. Besides, putting that money back (going to the beginning of your thread) into savings now, you may be able to pay for college with cash. I will be working my way through school so I don't take anymore loans. They and credit cards are unnecessary burdens.

Sorry, I will get off my soap box now... I'm very interested in economics and I'm an accounting major - it's in my blood!

I'm a wannabe accounting major xD

I want to do it for grad school but I lack the qualifications at the moment... and the funding >_>

Originally Posted by Keyori

I'm a wannabe accounting major xD

I want to do it for grad school but I lack the qualifications at the moment... and the funding >_>

What qualifications are you lacking? I understand the funds.... the only reason I can go this fall to start working on my 4-year degree is because of scholarships.

I don't have accounting classes, basically. xD

I have to have at least 2 semesters of undergrad accounting. The closest thing I have is engineering economics, and I only had one semester of that even.


I just have a ton of fun doing taxes, so that's what I wanted to specialize in >_>

I haven't tried to do taxes yet, everyone says they're really hard! Though I think I'll get my chance at doin them in a couple of semesters :) I just love the journaling itself but also the forcasting in managerial accounting.

This is my first degree. The next one I'm going after is meteorology. I'm getting an accounting degree so I can support my family and pay for it :P

Could you go to a community college and take a few of them? I don't know if the FAFSA applies to you or not...

I'm not eligible for a lot of aid because I already have an undergrad degree :C

But yeah, I'd do the fafsa if I applied again.

I thought about taking the classes I need, but the program I was looking at is one-year and doesn't stagger at all, so I'm pretty much going to miss this year and have to wait until next year to even think about it again.

Oh yeah, I remember reading about that on the FAFSA guidelines..... I'm sorry you'll have to wait! You can jump start by reading some books on accounting? Hopefully you're library isn't like mine and has mostly outdated books :P

> Tithes

For the faerie king?

Edit: Also 84 dollars doesn't seem like much.

Originally Posted by Keyori

...And always ALWAYS pay off the balance at the end of the month. If you are unable to, then fill a cup with water, drop your card in, and put it in the freezer until it is paid off...(p.s. if you do freeze your card, DO NOT microwave it; this will ruin the magstrip and render your card useless!)

Lol you are now my new signature.

But, yeah, I heard about the 75% thing. I've also heard that if you get lots of lines of credit but don't use them, you build your credit score very nicely.

---------- Post added 06-02-2012 at 11:29 AM ----------

Originally Posted by Alexandrus Gambino

> Tithes

For the faerie king?

Edit: Also 84 dollars doesn't seem like much.

Tithes for church. It's not so much a "God wants your money!" thing as we all use this building, we all should pitch into the fund to keep it and the programs running. Ya know? And 10% just so happens to be a nice, round number.

And $84 might not seem like much to you, but for me it's a LOT of money. Stuff isn't that expensive where I live, and I don't buy random stuff. It has to be useful. And since I don't live on my own I don't need to spend it on stuff like kitchen gadgets or other household goods.

Another suggestion if you don't want to spend/save the money, you could donate it to charity....of course then you'd need to figure out which charity :P

Originally Posted by Superstition

Another suggestion if you don't want to spend/save the money, you could donate it to charity....of course then you'd need to figure out which charity :P

Very true, I've thought of that one.

Originally Posted by AmyHeartXVIII

Lol you are now my new signature.

But, yeah, I heard about the 75% thing. I've also heard that if you get lots of lines of credit but don't use them, you build your credit score very nicely.

---------- Post added 06-02-2012 at 11:29 AM ----------



Tithes for church. It's not so much a "God wants your money!" thing as we all use this building, we all should pitch into the fund to keep it and the programs running. Ya know? And 10% just so happens to be a nice, round number.

And $84 might not seem like much to you, but for me it's a LOT of money. Stuff isn't that expensive where I live, and I don't buy random stuff. It has to be useful. And since I don't live on my own I don't need to spend it on stuff like kitchen gadgets or other household goods.

Oh, wait, this is in USD, right? Where I'm from 1 USD is approximately 50 pesos. So something like 100 *Insert currency here* never really registers much since you can't buy much with 100 over here.