Unplanned Spending = Wasted Money

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.



  1. jane muir on May 1, 2007 at 8:14 am

    Joe, who’s reading who’s mind? Sunday while out house searching, I was alone and thinking about our income in our 9 years of marriage… Jack has not been out of work, has worked for the entire time as a pharmacist. DANG…. that is a bunch of money… and what do we have to show for it… other than our IRA contributions and our savings:

    ~we have lived in houses that have way to much square footage/large yards/expensive school districts (without children in our home).
    ~we have two motorcycles, NOT the top of the line ones that cost 20-50K
    ~we have a boat
    ~we have had some cool vacations
    ~and no credit card debt!

    So we aren’t in trouble, but we have not always made the best short term purchases. (me more than Jack…impulse spender and eater)

    So I thank you and give you and God credit for rocking our world in the money area! And we have not had ANY fights, ill thoughts, or disagreements about MONEY since hearing you preach at NS in NOVEMBER! That is FIVE months now!!!!! Now that is a record for us!

    And on the fighting front… we have only had one issue since we started attending NS in October… and that was over 4 months ago!

    Thanks to the NS peeps (paid and volunteer) for assisting GOD in rocking our world!

  2. Paul Moyer on May 1, 2007 at 3:43 pm

    ONLY 25 DOLLARS FOR PLANTS!!! Joe you have just blown your blow money budget. I don’t think you have it in you to only spend $25 on plants.

    All kidding aside this is a great idea for the nerds out there but, the free spirits may like to just blow their blow money.

  3. Rich Brott on May 1, 2007 at 9:53 pm

    Planned spending always reveals the unknown. Spending plans are not meant to constrain oneself; instead it has a “freeing” effect. Nice job, Joe!

  4. jsangl on May 2, 2007 at 6:44 am

    Sangl Says – It WILL be difficult to only spend $25 on plants. Maybe I will buy some plants that produce food so I can eat too.

  5. Malia Liermann on April 19, 2018 at 12:52 pm

    How do I decide my budget for blow money? Single mom, 3 teenagers, $34000/year. That’s what I have difficulties with…knowing how much those budgets without set amounts should be, i.e., mortgage, car payment, insurance, etc.

  6. Jessica Thompson on May 15, 2018 at 11:18 am

    Hi Malia! Thanks for reaching out. Without knowing your entire budget, we would recommend between 5-10% on spending money, closer to 5% if you have more debts. Make sure you’re using cash for this so that you’re careful not to overspend. If you have more questions about this we will be happy to help!

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