As Jenn and I were going through the process of changing the way we manage our finances, I conducted a review of how we had been spending money.
Ouch! It was awful! I remember thinking this thought, "Man! If I could spend that money again, I would sure spend it differently!"
I wonder how many out there have thought that thought before?
It is SO true. Unplanned Spending EQUALS Wasted Money.
Well, we started spending every dollar on paper BEFORE we received it, and we started winning in a way we had only dreamed of.
If I may say so, we have done an excellent job of managing our finances since we started using an INCOME – OUTGO = EXACTLY ZERO approach. HOWEVER, there is this one line item that has been driving me NUTS! This category is called "Blow Money".
"Blow Money" is a set amount of spending money that Jenn and I get for each month. We are not accountable to each other for how we spend this money. It is great with ONE exception. I have not been putting together a spending plan for my blow money, so it just runs away from me! It is crazy! It is like this one small reminder of how out-of-control our spending used to be. I simply can not imagine managing all of our finances this way again.
I have said it over and over and over again. Unplanned Spending = Wasted Money
With this in mind, I have resolved to PLAN my blow money spending every month. I am going to have YOU hold ME accountable.
So, without further adieu, here is my spending plan for my blow money for the month of May. NOTE: I have put this budget together using the Mini-Budget Form.