5 Reasons Why You Need To Budget 'Play Money' With Your Partner

Money and stress series written by zoe slater

5 Reasons Why: You Need To Budget ‘Play Money’, With Your Partner

What’s worse than doing a Budget? Doing a Budget and not including some Play Money!

Regardless of your income and expenses, it’s highly recommended to include some Play Money in your Budget.

Even if it’s an allowance to enjoy a daily coffee, if you’re that cash strapped. But for most people, there is some money left over after the necessary expenses, such as mortgage, food, bills, insurance and don’t get me started on school fees!

When you’re setting your Budget for the year, start with the Play Money. Get the family together to decide on what everyone wants to do for fun. Maybe it’s a family holiday, a school trip, a concert, a night out with the girls/boys once a month.

Whatever it is, you need to allocate how much these Play activities will cost and decide what will be included in the Budget.

As well as allocating Play Money to one off big events, also take the time to write down, how much Play Money you need each week. Then segment it, for example; alcohol, clothes, gambling (if that’s your thing), entertainment, restaurant or take-out meals and so on.

Play Money is an emotional topic and can cause many stressful moments and arguments, especially if it’s not discussed and planned together.

So, you need to talk with your partner about why these segments are important to you, do they bring you closer and support the relationship?

Here are 5 reasons why you need to include Play Money, when you’re planning your budget for next year, and make sure that your partner is included in the discussion….

1. Play Money buys experiences, connects you with friends and the community These are all fundamental to your well-being. Lifelong memories are created, and relationships deepened.

When Play Money is used to create experiences with all family members, such as family holidays, eating out with family and friends, everyone gets to feel included in the reward that the Play Money gives.

When you plan together as a family you can ensure that everyone’s needs are met.

2. Play money is about freedom and autonomy, makes you feel good and for some, a sense of personal power.

Play money may be spent solely at your discretion, rewarding yourself for what you did to earn it.

You may feel entitled to spend some, all, or none, it’s your choice, you earned it.

That’s true you earned it…however, if you choose to spend most or all of it on yourself and not include the rest of the family, then you’re setting yourself up for some uncomfortable stressful situations at home.

Worst still, if your family are observing you spending too much Play money on yourself and then they hear you complaining and stressing about money, then you will need to prepare for the consequences of that.

Therefore, it’s important to include your partner and be fair, when planning your Play Money Budget, and make sure that you stick to it.

If the Budget doesn’t allow for all the Play Money activities discussed, rather than getting stressed and arguing about it, consider tweaking the activities, introducing lower cost activities, whilst still getting the feelings you seek. Remember, it’s more about the doing of things together to create a shared experience than just doing a particular activity.

You will still have freedom and autonomy to have feel good experiences with your allocated Play money, and you will have a happy family.

3. Play money is linked with your self-esteem and your social world.

Having plenty of disposable income to use as Play Money, allows you to spend it on things and experiences that can show, to the outside world, how wealthy and ‘successful’ you are.

This can be a huge boost for your self-esteem.

However, pretending to be wealthier than you are, can cause money stress and mistrust for you and your partner.

You’re likely to be spending too much, but also speaking and behaving with a bravado that can cause people to sense a fake-ness about you.

Don’t try so hard to ‘keep up with the Jones’s’ and learn to be okay with who you are.

If this is an issue for you, discuss it with your partner. You both need to ensure that the families Play Money, is spent in a way that doesn’t put unnecessary money stress on the family and negatively affect relationships around you.

4. A personal Play Money allowance can quell the urge to overspend

Most people, when they have extra Play Money, like to spend it. However, when Play Money is restricted, this can cause some people to have a ‘spending itch’, that needs to be scratched.

This can result in overspending.

Just like being on a diet, when food is restricted, eventually the urge to go to the fridge and eat all the cookies and ice cream becomes overwhelming, or is that just me?

Whether it’s you or your partner who may have this condition, it’s important to ensure that you do not make a judgement.

Instead, even when things are tight, allow for a small Play Money budget. A small reward occasionally can help ease the pain and frustration of being on a tight Budget.

5. Play money spent only on your friends and not your partner can cause resentment.

If you earn good money, and there’s plenty spare for Play, there can be an unsaid expectation that you should shout your friends more often. This is a generous thing to do.

Beware though, as this can blow your Play money budget if you don’t manage it well. Remember that your partner is the one you share everything with, and they are there for the good times and the tough times, so spoil them too, with your Play money.

If you spend your Play Money on friends at the expense of your partner then this can cause unnecessary resentment, anger and mistrust. You don’t want to do that.

Play money is about doing things that uplift your spirit, within your means. You deserve to have these special experiences because your worth it. And your partner and family deserve to enjoy experiences with the Play Money too. After all you are a team.

If your Play Money spending has been out of balance in any way, the biggest tip that I can give you, is to observe the problem, discuss the problem with your partner, and create a solution.

If the solution is working great, if not try something else. Keep tweaking until it works. Don’t give up!

I hope this has been helpful for you. Please share this with your friends to help make a positive difference in their lives.

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