Entertainment!

Toni_Broke

Hi

In the process of setting up seperate accounts for myself and OH purely for 'spending money'.

Just wondering what people consider to be a fair amount for 'entertainment' funds and what sort of things do you include under the entertainment umberella?

Marisco

Surely that would depend on incomings and outgoings??

lucylucky

What entertains you?

bottleofred

Hi Toni Broke,

You've been a bit vague with the information and as the others have stated, it very much depends on your circumstances, disposal income (if any), type of entertainment you like etc. If it is for a statement of affairs or you are considering a DMP or similar, nobody will expect you to stay in for years, but you have to be realistic regarding the level of money available.

Toni_Broke

Hi
Yes, sorry guys it was a bit vague! I had just been reading someones soa and they had put down 150 a month down for entertainment and got a bit slated for it.

We have a fairly good income but not alot left once everything (including debt repayments) are accounted for. The plan is to split this between us and spend as we wish. Bit like pocket money i suppose. However on paper it sounds like a fair amount but in reality i'm not sure. As i said the other thread stated 150 and people sugested cutting this down to 100 and one poster even suggested 30! Lets face it that wouldnt even get you a night out lol

We plan to have 125 each but although i think i will be ok with this the OH is complaining! He's smoking again after stopping for a few months and I've said ciggarettes will have to come out of his pocket money. This obviously hasnt gone down to well he he.

So, i was just wondering really what amounts people gave themselves and what sort of things this pocket money paid for. Sorry if this seems obvious to some but all new to us as although been budgeting for some time still ending up in the overdraft.

Thanks
Toni

Marisco

Hi Toni, again it depends on your outgoings and what you have left after everything has been paid. If you have £250 spare with no pain, then £125 each is fair. If your oh wants to spend it on smokes then that's up to him;) Don't worry I won't suggest he gives up, I smoke myself:o Everyone is different and have different ideas of what entertainment is, so its difficult to say what anyone should spend. I think the reason some get slated for their "entertainment" is because the money would be better spent on getting rid of the debts, especially if you cannot afford it!!!

happycamel_2

Hi, I think £125 each is a lot.

Yes ciggies should count. So do meals/drinks out and takeaways. Also entertaining at home (groceries for normal stuff but beer, crisps etc for friends over counts as entertainment). So phone apps (not strictly necessary for operating phone), magazine subscriptions, gym, satellite telly, cinema or theatre tickets, entrance fees, gigs, shopping for fun etc etc.

I'm not sure I like your approach to be honest. It almost sounds like you're setting yourself a target. My usual advice is try to do everything half as much (go to the cinema once a month not once a fortnight), go to the pub have 1 pint not 2 etc.

If you concentrate on overpaying your debts not you'll be able to relax and have real fun much sooner, stress levels will be lower and you won't need so much "entertainment".

I'm not in debt (I know, lucky me) other than the mortgage but I have 1 magazine subscription, we eat out once a month (no takeaways), I spend about £50 on treats (coffee from Starbucks, new lipstick, maybe a computer game) and I probably have friends round once for dinner. I probably spend just over a hundred a month. BUT, this is less than 10% of my disposable income. That's the key, you need to look at your disposable income (ie what you have left after essentials) then put some in emergency fund, some on overpaying debts and then look at what's left after that. Now decide if there's anything else you want to save up for (holiday, new car or something), now you're down to what can really be spent on entertainment.

Honestly, spend more time in bed (!!), go for a walk, use clubcard points to join English Heritage and visit old houses and castles, use your local leisure centre, get books and DVDs from the library, take up cross stitch (£10 to buy a design and they take ages to do), garden (grow veg, save money), get hubby to make models, they take ages too, buy any computer games 2nd hand or get from library, do DIY (painting not expensive stuff). There's loads of fun stuff that doesn't have to cost a fortune.

Let us know what you're spending it on now and we'll see if we can come up with some cheap but fun swaps so you can mix and match and bring the cost down.

Toni_Broke

Hi thanks for your replies. Basically this is what we have left after EVERYTHING has come out and that includes substantially overpaying cc's. We have got various accounts and saving pots for clothes, haircuts, car stuff, emergencies etc. These are all working really well but we always seem to overspend. It may be that the debt repayments need looking at and perhaps we have set these too high but we do have a goal with an end in sight so therefore loathe to change them.

All of this comes from a joint account so therefore we should in an ideal world just spend what is left but as i have already said this is where we seem to fall down and end up overspending. A spending diary apeals to me but not to OH.

After reading a few threads on here pocket money does seem to be a popular way of managing which is why we thought having our own separate spending account was a good idea.

This will not be a target amount to spend and to be honest as i said i dont live extravengantly and will probably have alot of it left at the end of the month which i am happy to put on a credit card. My OH however (he he) is another story.....

happycamel_2

Hi, sounds like you've got the right attitude and he needs to grow up. Maybe withdraw £75 in cash each and that's your spending money for the month. If at the end of the month it isn't spent you could roll it over (so just to up to £75). If you run out before month end then you have to agree for extra to come out, justify where the first amount went and agree on what else to get out (so exactly what it will be spent on). That might work. OH sounds like he doesn't want to take responsibility but it shouldn't be you parenting, organising and telling him off, he needs to do it because he's a big boy with a family to look after and adult responsibilities. Honestly, men!!

MrC1977

I like the idea somebody mentioned on another thread about using other monies for entertainment if needed. for example if I want to have a night out then I am going to make that weeks shopping the cheapest of the cheap - beans on toast etc - that was I can put a bit extra in your entertainment fund.

I know the best advice would be not to have the night out!!!!

Sunnylooloo

Mr C - I agree with you. A night out is a treat and whereas before i would just go, now more often than not I have to say no and if I do go out I have to save money else where.

Toni good luck with getting your OH into your way of thinking - they do need training sometimes!!