How Much Money Should You Spend on Fun While You are Still in Debt?

How Much Money Should You Spend on FunGetting out of debt is hard work. It takes a lot of self-discipline, focus, and a constant consideration of how you spend your money.

Even if you use budgeting software to help you keep track of how you spend your money, fun impulse purchases can still sneak up on you from time to time.

Here are some popular thoughts on how much money should you spend on fun while you are in debt, and how to decide on a budget for it.

Don’t Budget for Fun

Of course, one option is to not set up a budget for fun at all. There are usually two different reasons why people adopt this strategy.

One reason people may not budget for fun while they are in debt is because they are taking a “gazelle intense” approach and they don’t feel that they need to, or should be, spending any money on fun things while they are still in debt.

Another reason some people don’t budget for fun is because they are frugal weirdos. No, really. Some people really are able to have free fun all the time instead of spending money on entertainment. While I commend them for being this inventive, I know this would not work for my lifestyle.

Decide on a “Reasonable” Amount

My personal philosophy when it comes to spending money on fun is that you should go for it, to a reasonable degree. I’ve decided to take a little longer paying off my debt so I can still live my life to the fullest and avoid debt fatigue, instead of giving up everything I enjoy to get out of debt 1-2 months sooner.

A reasonable amount to me might not be reasonable to you, so you have to decide what you are comfortable spending on fun each month while you are in debt. When you are planning your budget for the month, do your best to anticipate any fun events that might be taking place outside of the ordinary so you can budget for them accordingly.

Even if you don’t have any specific events in mind when you are planning out your budget for the month, it’s still a good idea to set aside some money for fun.

Setting this money aside will help you stay on track with your spending when a friend invites you out to dinner at the spur-of-the-moment, or if you decide to order a pizza one night instead of cooking. If you hadn’t set money aside for these types of events you’d either have to say “no” to yourself, or you’d have to go over your budget which is never a good feeling.

Don’t Get Carried Away

Having fun, even while you are in debt, is important. But it’s also a good idea to keep it as frugal as possible. To do that you need to plan how you want to use your “fun money” as much as possible and really consider the ramifications before you spend it on an impulse purchase. Remember, if you spend it all during the first week of the month then you don’t have any more until the next month. It’s all about finding a balance that works for you.

How much money should you spend on fun while in debt?


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