# Budgeting Blow Money

Richard is having trouble managing his blow money. He tried \$400 a month, but he's already up to \$245 this month. Dave thinks it's time to set some budgets within his budget.

QUESTION: Richard in Lubbock is having trouble managing his blow money allocation. He brings home \$3,800 a month and owns his own home. He tried setting it at \$400 a month, but he's already up to \$245 this month. Dave thinks it's time to set some budgets within his budget.

ANSWER: You just need to budget a certain amount. Let's break it down. Let's set a golf budget, an eating out budget, and a grocery budget in your overall budget. The problem is you have everything lumped together. I need you to do a little more detail in your budget and break your spending down.

You decide how much you're going to play golf, and you put that amount in a logical budget. I'm not going to tell you not to play at all, because you've done really well. You're making enough money to play some golf. Just give yourself a limit.

Use this thing we call the envelope system. You don't do it on everything, but golf and restaurants would be a good one. You put the amount you have in your monthly budget in that envelope in cash.

What you're saying as a single person is, "I don't have anybody to gripe at me when I goof up. I've got to have some way of knowing when I'm out of bounds." The budget gives you an out- of- bounds marker. The envelope is the referee blowing the whistle and saying, "Dude, the envelope is empty. You can't go do this. You have to stay home and eat tonight." You've not had anything that caused you to pause when spending. Otherwise, you wouldn't be six days in and have spent \$245 of a \$400 budget.

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