How much "mad money" do you have?

YOLO, there is balance to be had here I totally get saving for a rainy day but money is also to be enjoyed especially if you have plenty spare. What are you saving all of those investments for? Care home fees?

Is there is nothing you enjoy? Meals out, hairdressers, make up, nails, hobbies, holidays?

About a grand, maybe? Our salaries automatically go to several different pots for savings, investments and bills. What’s left just sits in our accounts and we spend it as we like. We generally don’t spend all of it, but I’d say I fritter away roughly a grand a month. There’s about £5K in my ‘mad money’ (not a term I’ve heard before) account at the moment.

We don’t really do credit cards. No moral objections or anything, we just don’t.

With that debt and spending habit you have a problem and no MAD money. Stop

No set budget. Buy things when I need them from joint account (DH does the same. But we are the rare couple who don't need separate finances and there's no bitterness if one person buys more for themselves that month). But we also do not go mad and if we have spent too much one month then we wait until next month. But I get my hair cut when I need it, not when I have 'mad' money left. We also are by no means overly wealthy, although I feel very fortunate. I also work PT.

I don't think I have any "mad money", I've never heard this term before.

Like PP I'm a bit boggled by the idea of having a pot of money dedicated to spending on personal luxuries every month, especially £400 🤯

Surely dedicating money to be spent means..it gets spent. Regardless of whether you really wanted or needed something?

I can see this is a nice thing to have if you can afford it, but if you are running up credit card debt then ...you cant.

I'm more inclined towards saving than spending. I spent too much of my youth very poor and always in unstable accomodation. I did a lot of sofa surfing. Since then I always like a buffer fund for emergencies. I don't think it would ever be big enough to stop worrying about being homeless 🤣

£200 a month but that is just for me. Anything for family days out or holidays is from a different budget.

I wouldn’t call clothes, hair cuts or time with friends selfish. I think going into debt for this stuff when you clearly don’t need to spend that much plus debt isn’t a wise decision.

“mad” is definitely the right term where you are concerned OP

I just buy whatever I want whenever I want out of the 2k disposable and save the rest.

my New Year’s resolution is to have some mad money - maybe £4-500 a month. We’ve always lived frugally and don’t really need to anymore. So I’m going to start spending some money on myself. I started last month with a personal shopper and it was amazing.

I don't have money to spend on crap. I do treat myself occasionally but its usually things other people would consider essential - haircut, mid-price skin care, take away. I can't remember the last time I bought something just for the sake of it. Its all thought about and budgeted. I guess maybe some extras on the food shop like a bar or chocolate or some posh cheese that would be just for me.

no idea - all my money is mine to spend as I see fit, and I buy what I need/want after I've paid all the bills, put some into savings etc.

I don't think of it as "mad money" and I try and buy less and less as I want less & less.

So I buy whatever I want but I dont want much IYKWIM. I'd rather save ££ & spend it on a great holiday.

You clearly don’t have as much “ fun/ mad “ money as you think you do OP. You have a CC debt!

Also, you “ get” £400?

Sort of as much as needed, as I live alone so don't share my income. £4K comes in and is roughly £1750 mortgage, food and bills, £1250 credit card, £1K savings. The credit card is all my every day spending:
250 going out
250 clothes or things I want
200 travel costs (for work and to visit people)
125 gifts and charity (this includes costs of eg christmas spread over the year)
100 exercise classes
320 medication and medical / beauty treatments

🤣🤣

??? Does 2k per month disposable not answer your question?

I have £500 month to use for clothing, entertainmet, top-up foodshop, travel, nights out etc.

If the credit card is really a priority, as it should be, then you should probably withdraw your other post asking people what to spend your Christmas money on.

i get about £250 a month? Husband the same. Everything goes in the joint account and on pay day savings go out, bills (obviously) we get our £250 each and then whatevers left is the buffer/ holidays/days out kids extras etc.

I love the £250 as it doesn’t matter i don’t need to think urgh xyz comes out of this if it runs out hey ho its usally just frittered on rubbish tbf but i don’t have to justify spending it or think that would be better spent elsewhere. My husband feels the same so it works for us.