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    How to Stick to a Budget and Have Fun Money Too

    By Kiersten BrownSeptember 2, 20244 Mins Read
    Source: Getty Images
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    Many people cringe when they hear the word “budget.” It’s like going on a diet but with money. People are reluctant to follow a budget because it’s associated with restrictions. You’re only allowed to spend money on essential things if you’re on a budget. However, budgets aren’t the equivalent of your money being put into punishment. Instead, they are a flexible plan for your money.

    When you have a plan, you can use your money for enjoyment while meeting your financial goals. The key is knowing how to budget so that your money works for you. Here’s more advice on how to be responsible and have fun with your money. 

    Choose a budget that you can follow

    Budgets are like t-shirts. There are many different types, and you can find the one that fits you best.  When you use a budget that allows you to spend your money how you need to and want to, it’s easier to follow through. Here are different budgets, each offering a unique approach to managing your finances.

    The 50/30/20 budget: This budget says you allocate 50% of your budget to necessities such as bills, rent, debt payments, insurance, etc.  30 % goes to leisurely expenses such as entertainment and travel, and 20 % is allocated to savings.

    The Zero-based budget: With this money management system, you allocate every dollar you earn to a specific item so that your income minus your expenses comes to zero. This budget allows you to allocate money for your needs and wants. 

    The pay-yourself-first method: If you’re not into categories and expenses, this method will work best for you. When you receive your paycheck, you pay the most important expenses, including savings and debt payments. Whatever is left, you’re free to use however you want. This method ensures that you prioritize your savings and debt payments and makes spending money on things you desire easier. 

    The envelope method: If you’re more visual or tactical, this method can work for you. You start by getting envelopes and labeling them with your expenses. When you receive a paycheck, you cash it and put the cash into the envelopes. You can leave some money in your account for specific automated bills. Have an envelope for groceries, eating out, vacations, shopping, and all your monthly spending categories. This method is also a great way to manage your spending. Once you’ve used up all the cash in an envelope, you’re done spending money on that category for the month.

    Create limits that are not restrictive

    Your budget might have different categories for expenses. Adding an expense line for fun activities such as going out, seeing movies, or your weekly cup of coffee can help your new boundaries feel normal.

    Instead of randomly spending $100 on a shopping spree, focus on short-term savings goals. Say you want to take a weekend getaway but don’t have the extra funds. Create a savings goal instead of allowing yourself to spend time at home watching Netflix and drinking a bucket of ice cream. See how much a weekend getaway will cost, and save that money. If you create a weekly savings goal for the cost of your trip, you will save enough money in no time!

    Look for free and fun things to do

    You’ve heard that you need to spend money to make money. Sometimes, we think we have to spend money to have fun. In many cases, this is true, but not in all. If you’ve budgeted for the month and don’t have much money left over, look for free or low-cost things to do. You can start by Googling free things to do in your city or hometown. Some might include:

    • Visit museums when they have their free days
    • Spend time in nature visiting local and national parks
    • Go for a hike
    • Visit different street festivals and local events
    • Volunteer in your local community
    • Search for free events on Eventbrite
    • Host a dinner or movie night at your place
    • Join a meetup group with people who share your same interests.


    Having fun doesn’t always have to cost a lot of money. Likewise, having a budget doesn’t mean you can never enjoy your money. What is most important is balancing using your money responsibly and using it for enjoyment. 

    Budget for miscellaneous

    Sometimes, we struggle with fun money because unexpected things happen. You get a flat tire, the water heater breaks, and there’s always something. To avoid using your fun money for these annoying expenses, it’s crucial to set aside a set amount each month for the unexpected. This safety net will give you peace of mind and keep your fun money intact.

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    Kiersten Brown
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    Kiersten Brown is a Travel Coach whose mission is to help women of color create their dream life by living in their dream country. You can get her free guide to living abroad here. Or follow her adventures on Instagram @kikimarieb15.

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