For anyone who has done this program - do his baby steps allow for a small spending allowance? Like for vacations, travel, eating out once in a while? Or is it only a "save save save" type of program?
I ask because I know for us (and probably many others) it's completely unrealistic for us to never eat out or go to a movie, etc. I don't want to start a program that we are destined to fail. Thanks!
2006-10-01 05:06:39 · 3 answers · asked by kmcdonald 2 in Business & Finance ➔ Personal Finance
Yes. In fact his standard budget sheet includes what is called the "blow" catagory, which is specifically money put aside from each check to just "blow" as you want. He realized that if you never can do things like that, you will not stay on the program. But what you do is BUDGET the amount you are going to "blow". Then it does not hurt the other things.
Same with restaurants and movies. You budget a portion of the "food" allowance for eating out. You budget a portion of your money for "entertainment". And once you have the emergency fund in place and have "snowballed" a couple of your debts, you can add vacation and travel to the budget also.
To be realistic, you can expect to cut back to the barebones for the first year or two. But as you get rid of the debts, you will be surprised how much money is added to your budget for everything else. Plus when you are controlling every dollar you spend, it will go further than you realize.
I found that when I added up all the pops, chips, snacks, etc. I eat during the week (I have a job where I drive a lot and tend to snack while driving) it was adding up to $20-30 a week. I replaced those with purchasing a couple large bags of chips and large packages of snack and then divided them up and took some with me every morning. The difference was enough to be able to take my wife to a fast food dinner and rent a video once a week. I was not spening any more - just controlling it.
2006-10-01 05:32:15 · answer #1 · answered by dewcoons 7 · 2⤊ 0⤋
Yes
2006-10-01 12:08:31 · answer #2 · answered by jujub 3 · 0⤊ 0⤋
You sound really spoiled. Lots of people cant eat and are hungry and you worry about eating out, You can live nicely without going to see a movie. You need more money 4 letters for you WORK
2006-10-01 12:19:57 · answer #3 · answered by devora k 7 · 0⤊ 6⤋