Military Significant Others and Spouse Support - MilitarySOS.com
Page 1 of 2 12 LastLast
Results 1 to 10 of 19

Thread: S/O S/O Spending money

  1. Senior Member
    Katayoun's Avatar
    Katayoun is offline
    Senior Member
    Join Date
    May 2012
    Posts
    4,244
    #1

    S/O S/O Spending money

    Advertisements
    How do you determine what your spending money is? Is it a paycheck percentage? Whatever's left after bills? A set amount each month that's the same?

    My system is kind of a lack of one, which is probably not good. Once everything is paid, I try to get by as long as I can not buying anything at all that I don't absolutely need. Then, if I'll get my paycheck soon and feel like I have enough to spend while still having some saved, I spend that if I so desire.

    If you feel like sharing, how much do you desire to have saved up (realistically) at the end of the month?

    For me, I'd like to have three months pay in savings. I'm no where near that right now but I would feel a lot more comfortable with that in the bank. DB's BCT graduation really depleted that a few months back
  2. be silly. be honest. be kind.
    Jenni Penni's Avatar
    Jenni Penni is offline
    be silly. be honest. be kind.
    Join Date
    Jun 2010
    Location
    Texas
    Posts
    10,484
    #2
    We're trying to implement $50 ea spending money per two week period. It's something new because we recently had a (lack of) system like you, so we'll probably make some adjustments to it as we go.

    We save $800 every month.

    "The purpose of life is not to simply be happy. It is to be useful, to be honorable, to be compassionate, to have it make some difference that you have lived and lived well."
    - Ralph Waldo Emerson

  3. MilitarySOS Jewel
    tremblingturtle's Avatar
    tremblingturtle is offline
    MilitarySOS Jewel
    Join Date
    Apr 2008
    Location
    Missouri
    Posts
    14,195

    #3
    I try to budget, but I suck at it. So what we do, is pick the dollar amount we think is enough to spend, and we put it in "my account" that is attached to my debit card. We spend that money, and nothing more. The rest of our money goes to bills, the mortgage, or a savings account.
  4. MilitarySOS Jewel
    Wild*Rose's Avatar
    Wild*Rose is offline
    MilitarySOS Jewel
    Join Date
    Oct 2012
    Location
    Jacksonville, FL
    Posts
    5,429


    #4
    i added together everything i owe in a month and divided it by 2 (the number of paychecks i get in a month) and take out that much from each paycheck and put it in a seperate acct to pay my bill. whatever is left gets split in half between savings and spending money.

    so basically

    what i make in 2 weeks - half of my bills and divide whats left by 2
    $2500 -$1300 =1200/2= 600 in savings and 600 in spending.......


    totally just rough math but thats what i do
  5. In vino veritas
    Dr.VinoVet's Avatar
    Dr.VinoVet is offline
    In vino veritas
    Join Date
    Nov 2010
    Posts
    14,852
    #5
    MF saves around 1000-1300k a month, but that is split into separate things such as IRAs (retirement), savings accounts, a honeymoon fund etc.. MF pays himself first (meaning into the savings), then bills, then whatever is left over he allows himself to play will that month or let it roll over for extra play the next month and if too much accumulates, he puts some into saving the following month or so.

    When I start making money his money will support the 2 of us mostly while 60% of my yearly income will go to paying off loans, 20% to taxes and the rest to bills.

    We aspire to have 10k in the bank 6 months after I graduate. We have that now, but with me graduating and the two of us moving and moving in together we will need furniture and moving expenses etc... so we know we will lose some of it, but 10k by Dec 2014, then hopefully 20k by Dec 2015, 35k by Dec 2016 and then we will try to have a kid.
  6. Senior Member
    Katayoun's Avatar
    Katayoun is offline
    Senior Member
    Join Date
    May 2012
    Posts
    4,244
    #6
    Quote Originally Posted by *Blondie* View Post
    i added together everything i owe in a month and divided it by 2 (the number of paychecks i get in a month) and take out that much from each paycheck and put it in a seperate acct to pay my bill. whatever is left gets split in half between savings and spending money.

    so basically

    what i make in 2 weeks - half of my bills and divide whats left by 2
    $2500 -$1300 =1200/2= 600 in savings and 600 in spending.......


    totally just rough math but thats what i do
    I like this model. As a student is still works well. I don't make much at all but I feel like that may help me save! I do okay right now, but I would like a more regimented system

    Quote Originally Posted by Dr.VinoVet View Post
    MF saves around 1000-1300k a month, but that is split into separate things such as IRAs (retirement), savings accounts, a honeymoon fund etc.. MF pays himself first (meaning into the savings), then bills, then whatever is left over he allows himself to play will that month or let it roll over for extra play the next month and if too much accumulates, he puts some into saving the following month or so.

    When I start making money his money will support the 2 of us mostly while 60% of my yearly income will go to paying off loans, 20% to taxes and the rest to bills.

    We aspire to have 10k in the bank 6 months after I graduate. We have that now, but with me graduating and the two of us moving and moving in together we will need furniture and moving expenses etc... so we know we will lose some of it, but 10k by Dec 2014, then hopefully 20k by Dec 2015, 35k by Dec 2016 and then we will try to have a kid.
    It's definitely smart to pay off those loans early. Once I graduate, DB and I hope to have my income go straight back to my loans to have that DONE with. I'm not sure how much I'd like to have in the bank (salaries in my field vary a lot more than yours might) after 6 months or a year of graduation, but I'd love 6 months worth in the bank. DB and I live very simply so I hope I could do so quickly. But moving and a wedding will also happen somewhere in there (that will save us money in the long run but will be an upfront expense that we'll pay for).

    I have no idea how much I would want saved before a baby. I know it would be a lot though
  7. Senior Member
    cassadilla's Avatar
    cassadilla is offline
    Senior Member
    Join Date
    Sep 2010
    Location
    NJ
    Posts
    17,907
    #7
    How do you determine what your spending money is? Is it a paycheck percentage? Whatever's left after bills? A set amount each month that's the same?

    right now, i use a set amount each week for spending money. my spending money includes gas for the week.

    If you feel like sharing, how much do you desire to have saved up (realistically) at the end of the month?

    i dont have a savings plan going right now because i dont really have anything left over from my checks now to save. once i get a better job id like to come up with a plan.
  8. I'm a boss playa', I don't bleed like you.
    GlitterQueen's Avatar
    GlitterQueen is offline
    I'm a boss playa', I don't bleed like you.
    Join Date
    Feb 2011
    Location
    Las Vegas
    Posts
    12,434
    #8
    Our bills get automatically taken out. Every single one of them on both pay days.

    Then after that we spend however much we want and at the end of the pay period we put whatever's left into savings. It's usually around 300-400 a month.


  9. Team Rocket
    rocket_lizz's Avatar
    rocket_lizz is offline
    Team Rocket
    Join Date
    Mar 2012
    Location
    San Diego!!!
    Posts
    9,069
    #9
    DH & I have no system. We are TRYING but we suck.
    So far we have managed to track our expenses each month at the end of the month, so we can see how much we spent on what category "groceries" "Games/Hobbies", etc.

    Each month the bills get autopaid, 500$ goes into savings, and the rest sits in our checking account Since I've started working, we have a slowly increasing balance in our checking account because we keep forgetting to move it to savings or other places.

    However, DH will be out soon and we will be having to budget more carefully. Also, my student loans are due for repayment. We're paying approx 30% of them off in one go, and the rest will take 5-10 years to pay off, based on my calculations.
    WiggleWiggle~ is my Wifey
  10. MilitarySOS Jewel
    lavender_jane's Avatar
    lavender_jane is offline
    MilitarySOS Jewel
    Join Date
    May 2009
    Posts
    4,252

    #10
    Quote Originally Posted by Dr.VinoVet View Post
    MF saves around 1000-1300k a month, but that is split into separate things such as IRAs (retirement), savings accounts, a honeymoon fund etc.. MF pays himself first (meaning into the savings), then bills, then whatever is left over he allows himself to play will that month or let it roll over for extra play the next month and if too much accumulates, he puts some into saving the following month or so.

    When I start making money his money will support the 2 of us mostly while 60% of my yearly income will go to paying off loans, 20% to taxes and the rest to bills.

    We aspire to have 10k in the bank 6 months after I graduate. We have that now, but with me graduating and the two of us moving and moving in together we will need furniture and moving expenses etc... so we know we will lose some of it, but 10k by Dec 2014, then hopefully 20k by Dec 2015, 35k by Dec 2016 and then we will try to have a kid.
    This is essentially what I do. I also get money from DH's paycheck for savings, but that amount varies. We're saving for a house, any possible children, and retirement. Vacations and other fun money type things won't come from that pool, though, we've got a separate "fund" for less serious goals.
Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •