Allocate Spending Money

You Still Need to Live Life

Give yourself money to spend or you will drown in your own frustration (and boredom). It is important to ‘live’ while investing for the future. Barring that you are in a debt trap give yourself a reasonable amount of pocket money to freely spend as you wish each week. I don’t think it is wise to suffer to get ahead, as it only leads to failure.

I allocate myself $100 a week which really is money lost as it will go on things that are unredeemable like magazines, movie tickets, snacks and music. All my other expenses like fuel are directly budgeted for. The amount you allocate yourself really depends your tastes and financial position, but I suggest not getting carried away, financial independence will remain a distance target.