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Archive for August, 2011

His and Her money

August 31st, 2011 at 07:51 pm

Since we have been married (almost 16 years now) we have had a "His" and "Her" spending account. Currently it's $150 a month (Each). Sometimes it's $200 a month, sometimes $100. The $150 works best because that usually works out to $5 per day.

On the 1st of each month I withdraw 60 five dollar bills and put 30 each into two envelopes. On the envelope I write the numbers from 1 to 30 (Or however many days there are in the month). Each day we go into our envelope and take out our $5 and mark off the day.

On weekends we have "Entertainment money" that usually is $50 - $100 per weekend. Since we have this money to spend on whatever we do together we usually do not need our $5 dollars for Sat and Sun. When Monday comes around we can start the week with $15 dollars (5 for Sat, 5 for Sun and 5 for Mon). It usually works out to a few Starbucks coffees per week or whatever small item catches our eye at the corner store. It also offers a challenge to see if we can go a day without spending our five dollars to see how much we can save for any larger item we might want.