How much "mad money" do you have?

I don't have mad money as such as I hate the idea of frittering for the sake of it. Some months I spend hardly anything. Some months I'll spend a lot depending what's going on. But always within my means (I'm very boring and debt terrifies me).

Meanwhile my husband is a fritterer. He has tried not to be but he's actually really unhappy if he can't fritter a bit here and there every day. He's shocked every month when it adds up to a lot. Then he might see me blowing a large sum on a trip to Paris for me and daughter and get all sad faced because he can't afford it.

We have semi separate finances because of our different spending habits.

You may be able to change your mindset and enjoy your 400 a month differently but it may be harder than you think if you're set in your ways.

Is it lighthearted to encourage debt or to normalise spending to the point of getting into debt? When someone runs out of "mad" money doesnt know where it went and carries on spending something is wrong and its a fine line before it becomes as problem no matter how much spare you have.

£300 each for me and DH. It's not that we have to use this money but for example I like to buy nice clothes and will usually buy a few things for a season that go together at the same time so maybe £1000 so I can do this maybe 3 times a year guilt free. DH never wants anything so he usually uses his to buy me presents or pay for my Botox because I spent all mine on clothes toiletries holidays etc and gifts are joint and don't come out of this money.

But OP was just trying to start a fun thread about pocket money and you've all decended on her to lecture her about how dare she have debt.
Obviously no one would say it was right or sensible to run up debt but a huge percentage of the country have debt, it's a fact. No one should do a lot of things but we all do. It's sad how this place always turns into a lecture instead of a chat between women.

I don't think that's always the case. I've always had some credit card debt as has my husband (manageable- repayments are £50 or so) and we both have excellent credit. The top score possible. I've know people to have very poor credit due to never borrowing and having little evidence of managing credit well.

If you dont pay off a credit card and it keeps running the banks class you as in persistent debt your also wasting hundreds a year furnishing that debt the fact many live beyond their means doesnt make it right or sensible.

Why is everyone being such a dick? Seriously, too many wines ladies??
The average credit card debt is about 2.5k so why are we all trying to pretend OP shouldn't dare do anything until all of hers is paid off?

I was looking forward to a thread about how people spend their pocket money but alas, as usual is decends into a 'how dare you not be perfect and have no debt and only spend on essentials' fest.

Anyhow, I have about 400 per month, it sounds like it should be plenty but depending on what's going on it can feel like it has to stretch sometimes. Holiday and savings funds separate.

Please tell me more about manifesting!

I read that in a Moira from ‘Schitt’s Creek’ voice 🫣🤣

You’re not helping your case OP, I was trying to stand up for you 🤷‍♀️

Err, zero. There's nothing left after bills and the kids going through shoes like they're made of paper

Never that bad really if you have saved up enough for a house deposit and uni fees for your son?

A lot (household wealth fluctuates by tens or hundreds of thousands on any day, millions up or down on a year is not unusual).

Rules of thumbs we use:

• only allow deliberate, not accidental, ‘lifestyle creep’
• buy time, not stuff
• avoid false economies (temping to spend an hour on Amazon finding the best value widget, but that time is better spent optimising bigger things).
• very consciously don’t buy the ‘status competition’ things. Lots of rich parents at school, quite happy for them not to think of us as in that league.

Tended to spend fairly freely on DC. Now DC getting older we are thinking more deliberately about whether that’s teaching the right lessons.

don't really think of mad money. We are generally quite frugal, but can afford to enjoy a treat when out if we want. Today I was at the beach with 4 friends, we are all of the same age(late 50's) and all retired early to this warm country. We always always bring a cool bag each (just small) usually with wine or rum and juices in it. Sometimes we bring some fruit or wraps. Today we ordered a big margarita pizza from one of the beach restaurants to eat on our loungers.. was supposed to be 12 slice..we asked them to cut in in 10, two nice sized slices each.. total was 600 pesos including tax and tip (we tipped a bit more on top.. the server was lovely) That is about 7.5 pounds divided by 5! it was amazing. My husband was out last night at a local bar with his friends. He had 3 beers and took a motoconcho back (I had dropped him off) 700 pesos including the ride home.. so about 9 pounds. We are very careful with money. Life can change in a heartbeat. Sorry though @DecemberGoneWild If you have credit card debt, you should really not have mad money. Get that cleared before you keep spending on "fun" things. I promise that you will enjoy them more when you do not have a cloud hanging over you in the form of a credit card bill!

You sound very bad with money OP. I have never thought of my money like that or just frittered it away as it's too hard to earn.

I don't calculate fun money. Once the finances are paid and depending what's 'leftover' at the end of the month, put some into savings and keep any spare to rollover. This is if a good month, others there will be extra things needed like vets, kids' stuff, dentist etc. If I've got some 'fun' plans I use what's needed, new clothes, haircut, meal out, treats. I don't feel the need to think oh I've got £200 spare so I'm going to spend it for the sake of it. Xx

Maybe 800 of my personal money. It does tend to get frittered though on things for the house that isn't really needed, clothes, random stuff from the supermarket etc

Not a set amount, I live within my means.
Imagine I'll get a sarky comment from op for being so clever.

Hi OP. We have about £300 a month each after saving for holidays and Christmas and paying the credit card (I have no desire to have less money and clear the card asap as it's low rate). It will be paid off in about 2 years. We save £400 a month for a family holiday.

We spend it on clothes, haircuts. Drinks with friends. Family of 6 🤠

We don’t do well with having that type of budget, but most of our silly money is takeaways, probably $200-300/month. DH buys mystery things on Amazon, and I’ll do a friends day every other month which is usually about $100. Clothes and hair we look at what we need vs what’s in the bank. Kids clothes (needed) we buy as we need them or ahead if we see it in the thrift shop, and then reduce other areas if we have to.