Last night my husband sat down and discussed our current budget and reworked it. I had been wanting to do this for some time, but he did not. Lately there had been a few things happening which had been blowing our budget out of the water and they needed to be addressed. Things such as take-away, junk food and drinks that I did not want. They are a waste of money and do nothing for your health.
Anyway, we discussed different things, then I simply showed him how I thought it should be done and if he thought it was fair, including our sanity money.
What’s sanity money? Basically it is an agreed amount you can spend on whatever you like. So if you like magazines, but they are not included in the budget, you can buy them from this. Or if you want a $500 pair of shoes, you can save your sanity money and buy them with no guilt, as they are from your sanity/splurge money.
Sanity money helps stop a lot of people from overspending and is often a great way for the non-budget minded partner in a relationship to learn a bit about money management.
Back to our sanity money.
You see, my husband likes Maccas. Yep, gross to the max, but he loves it. He goes through stages where he has it heaps, then nothing for a month, then blows $70 in a few days there. This cannot continue.
We have tried sanity money before but it never worked. Now, he has lost his card and instead of ordering a replacement we are going to try a cash system. We have an agreed amount for sanity, which he can buy all the junk he wants from and that is all the cash that will be out. I will still have my card for the groceries, but essentially, thats all we really pay for with it.
Now at first, to some, this might seem unfair, but he has been doing the cash thing for a while now, since he lost his card, its just the cash has been increasing and its not good.
So we agreed on an amount and what do you know, he wants to come grocery shopping to buy his things with his sanity instead of buying maccas or drinks and chocolate at the service station. We’ll see how long it lasts, but I am hoping this will help restore order to our budget.