Fun is something that we all need in our lives. It provides balance to all the serious things that we need to deal with and helps us to stay healthy. This is the same the world over.
Another thing that is the same the world over is needing to know how to budget for the fun stuff. For instance, a guy in Finland may be wanting to play at an Uudet nettikasinot 2020 (new online casino for 2020 in Finnish). Likewise, a lady in Russia might want to do a little покупка обуви (shoe shopping in Russian). Both of these are fun activities that require some spending. At the end of the day, people all over the world often need money for fun. Why is fun so important and what is the secret to budgeting for it?
Why having a balanced lifestyle is important
The fact is that everyone should have a balanced lifestyle. Hard work plays an important role but so does something as simple as laughing with friends. No-one expects to have fun all the time and we would not appreciate the fun times as much if they were not balanced with more serious activities.
However, having fun does help to keep us healthy. So, we need to make sure that it’s included in life. Of course, fun activities like walking in the park or playing in the yard as a family, do not cost anything. However, we need to pay for other things that we love, like seeing a movie or eating out. The best way to put aside money to spend on these activities, without feeling guilty, is to set up a budget.
Working out a budget backwards
When starting from the point that money is needed for leisure activities, it’s best to work out finances backwards.
Money that needs to be spent
This is always the best place to start. Experts say that this part of a budget should only include things that someone cannot live without such as food, utilities, and rent. Of course, costs such as paying off a credit card also need to be factored in.
However, depending on the individual, other things should be included here. For instance, many people are always going to pay for Netflix or have their hair done once a month; so for them, these are essential costs. However, any fun-based random spending should be left for later.
Savings and investments
Experts normally suggest that at least 20% of income goes towards savings. This money can be put towards anything from paying for a vacation to investing for retirement.
It’s a good idea to have at least one specific account for savings into which money is directly transferred each month. It’s also important to make sure that all investments are carefully researched.
The fun stuff
Once essential costs and savings have been accounted for, the remaining sum of money can be used for guilt-free spending on fun activities. Budgeting should always be done this way so that overspending on the fun things in life does not cause misery further down the line.
There may be times when the “fun” part of the budget does not seem to be very much. This happens to most people at some point. The good news is that there are some things that can be done.
- Earning more income.
Working more hours may not seem very appealing. However, sometimes it’s necessary to put up with some of the more serious “stuff” to have the fun that we want.
- Rethinking the “essentials”.
Obviously, everyone needs food and a roof over their head. However, other essential costs, like paying for streaming services, could possibly be removed from the budget, or at least reduced.
- Finding free fun
The fact is that not all fun costs money. For example, taking a walk is completely free of charge and it’s a healthy activity. If money is short, sometimes the fun in life has to be the free kind.
It’s always important to remember that fun loses some of its sparkles if paying for it leads to guilt. This is why budgeting for the fun things in life is such an important thing to do.