Extra Money in Your Budget

March 2010 No Responses »
Mar 112010

 

 

Cushion. Wiggle Room. Splurge.

These are all ways of  describing that extra room in a budget for non-necessary expenditures. Budgeting everything and having no extra money in a budget can make a person cranky. Paying down debt, saving for retirement or a major purchase is great but if you can’t afford to have a pizza or buy a book that you want then it may be time to reassess your budget.

There are times in life when you may be on a savings tear and are trying to make better financial decisions or saving extra money for a vacation or new home. Once you have reached your goal – paying down your debt, buying a home or redoing your kitchen and have made future payment or financial arrangements, make sure that you can afford to buy something small that brings you job.

This might seem contrary to living frugally or within your means but if you have no extra money to buy something that you might want, even if it is a meal with a friend or saving all of the “cushion money” and using it for a special dinner or even a vacation.

Being bitter because there is no wiggle room in a budget gives frugality a bad name.[ad#google-square]

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