Personal Finance Topic of the Month: Funding Your Fun
Do you have a hobby, like traveling, going to the movies, seeing concerts, or watching sports live? Our hobbies are a huge part of who we are, but sometimes spending on these hobbies gets in the way of accomplishing other important financial goals, like paying down debt or saving for big purchases.
Setting aside "Fun Money" is a great way to work toward your financial goals without sacrificing your favorite activities. Instead, you carve out a specific amount of money in your budget each month to spend on (or save up for) the things you love.
Why budget Fun Money?
- Prevents overspending
- Makes budgeting fun
- Reduces financial guilt
- Benefits health
As with any budget, careful planning and monitoring are key to accomplishing your goals. If you can do that, then you can feel good about spending your hard-earned Fun Money.
Check out the full article on Fun Money from Mint for more information and tips on creating a budget that meets your needs.
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