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auntofthebride Posts: 9,354 Registered: 4/2/06
Re: money matters...
Posted: Mar 25, 2009 11:01 AM
Dear MB,

I think you're mixing two situations.

A couple who is in heavy debt, is behind on bills, and who has a spending problem, needs to account for every penny and should make the sacrifice to stay home every weekend and never eat out. They had a glorious time while they were living high off the hog on credit cards; now the chickens have come home to roost. (I just love mixed metaphors!)

Another couple who has succeeded in staying with a spending plan, and who is on track to pay off managable consumer debt and whose other bills are all current is in a whole different situation. They absolutely need a "blow" fund where they can spend cash without having to account for, nor worry about, every penny.

I said earlier: We do exactly what you do, except we call it an "allowance". My husband goes to the ATM every Wednesday, like clockwork, and gets his $100 allowance. He can spend that as he pleases; no accountability. He also stashes $20 or so of each week's allowance in his bedside table so once a year he can "blow" it on something expensive.

I do it a bit differently. I wait until I'm down to my last $20 in my purse, then check to see if it's been at least a week since my last ATM withdrawal. I feel I "stretch" it out a bit more that way. Typically I go about a week and a half before needing another withdrawal.

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