When I linked to my budgeting spreadsheet in an earlier post, I mentioned that I had several color-coded categories. The large majority of these are expenses I can’t or shouldn’t avoid – some are adjustable and some aren’t, but there was only one category of spending that I could completely eliminate if I wanted or needed to, and that’s this one:
All those things are nice, but they aren’t necessities in the same way that gas, groceries, and rent are. However, that doesn’t stop me from wanting things that require spending in those categories; quite a few things that require spending in those categories, in fact. The problem is that wanting all of those things now doesn’t mean I should or can afford to buy them whenever I feel like it, and that’s what led me to my new idea: discretionary expense of the month.