When you give yourself an allowance, it’s more than just cash—you give yourself the freedom to spend without feeling guilty. Early on in my long journey back to financial health, my husband and I agreed that I would have an allowance—my own cash, a regular expense listed in our fledgling household budget. That changed everything for me.
It used to be that when I felt broke, I’d turn to my bevy of credit cards to chase away the feeling. As long as I could spend money, it felt like I had money. My credit cards were my antidepressants (and my eventual undoing).
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I got the biggest shock of my life the day I realized that living on a budget wasn’t the straitjacket or rigid “diet” I assumed it would be. It was my life as a credit-card junkie that put me in financial bondage.
Living on a budget saved my life because it allowed me to get out of debt. It gave me my freedom. Want to know my secret for staying on a budget for so many years? I splurge. Seriously. And I do not feel guilty. I love nice things and I love to travel.
https://www.everydaycheapskate.com/wp-content/uploads/21289981_s-1.jpg565847Maryhttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary2019-09-17 00:05:232020-02-27 14:25:25How to Splurge on a Budget
The wedding was complicated and expensive. But it’s over and you are ready to settle back and enjoy your new life together. I’m here to warn you about some common money myths that newlyweds have been known to bring with them into their marriages.
But wait. You’re not a newlywed? No one is immune to believing these myths. No matter your marital status—learn these lies about money so you can stop believing them. It will improve your life.
Myth: Double the income, half the expenses
This is what I call newlywed fuzzy math: Merging your lives and incomes into one household is the equivalent of getting a raise. It goes like this:
When we live together, we split the rent or mortgage payment; we share the utilities and household expenses. We’ll have twice as much money.
Don’t believe that, not for a second. While there may be some truth in sharing expenses, the outcome is not what you think. Been there, done that, trust me on that. More likely, more money will immediately lead to more spending. Without a solid plan, that will quickly lead to more debt because you’ll use that money for a down payment on stuff you really want.
https://www.everydaycheapskate.com/wp-content/uploads/091317image.jpg376565Maryhttps://www.everydaycheapskate.com/wp-content/uploads/EC-Logo-by-Mary-Hunt-Tagline-Trimmed-833x159.pngMary2019-08-30 00:01:522020-04-21 17:08:07Common Money Myths and How to Stop Believing Them
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