Blow Money Gives Wiggle Room
Kelly asks if it's all right to have blow money and how much she and her husband can have.
QUESTION: Kelly in Massachusetts asks if it’s all right to have blow money and how much she and her husband can have.
ANSWER: The more the blow money is, the less you pay on debt. You’re an adult and you get to decide that. It’s unrealistic in most budgets to have zero blow money, because you’re going to blow some. In the old days when Sharon and I were broke, it wasn’t over $25 or $50 a month. Then other stuff that I pay for or she pays for has a category. You wouldn’t use blow money for eating out at lunch because you have a category for that.
You have to have a little bit of wiggle room for the budget to operate properly. There has to be a little bit of margin in there. Just always keep in mind that this isn’t someone giving you permission. The more blow money you take, the longer you stay in debt. Always think of it that way.