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View Poll Results: How much is your monthly "allowance" per person per month ?
I / We don't have an allowance 79 66.39%
$1 - $100 / person / month 5 4.20%
$101 - $200 / person / month 10 8.40%
$201 - $300 / person / month 5 4.20%
$301 - $400 / person / month 3 2.52%
$401 - $500 / person / month 4 3.36%
> $501 / person / month 13 10.92%
Voters: 119. You may not vote on this poll

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Old 08-23-2014, 04:09 PM   #41
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Am I seeing a pattern in that those of you who reply "yes" with explanations tend to be in 2-person households (i.e. married couples) while those (like me) who reply "no" tend to be in one-person households? That is, the concept of an allowance is used by couples to keep themselves and each other in check?
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Old 08-23-2014, 06:10 PM   #42
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Originally Posted by scrabbler1 View Post
Am I seeing a pattern in that those of you who reply "yes" with explanations tend to be in 2-person households (i.e. married couples) while those (like me) who reply "no" tend to be in one-person households? That is, the concept of an allowance is used by couples to keep themselves and each other in check?
That is often the case.

To me the term "allowance" is sort of a misnomer. It is really a budget category.

If I was single then I would handle the same issues by having a category for books and a category for computer and a category for Gaming. Right now I categorize those as my Spending with subcategories for the specific.

DH on the other hand has a category for his Spending and he has some of the same subcategories but he has his distributed differently and he has some subcategories I don't have.

The broad Spending category for each of us is meant to basically even out the personal discretionary spending for each of us (that is we each get the same gross amount) while recognizing that each of us will spend it differently. So I might spend $50 of my $200 a month on books while DH might spend $10 on books, etc.
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Old 08-23-2014, 06:30 PM   #43
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Originally Posted by MichaelB View Post
DW has a variable allowance, and because I'm such a good planner it exactly matches her actual spending each month. Same for me.
This - except in my case it's DH with the variable allowance.

LOL

We don't have expensive hobbies and we spend what we want - if we're starting to overspend I comment on it, and we both reign it in. But we're not big spenders so that happens about every 2-3 years.
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Old 08-23-2014, 06:37 PM   #44
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I should add a couple more things.

DH and I have a rule that purchases more than $100 (not groceries) get mentioned to the other immediately. And purchases more than about $300 get discussed prior to purchase.

The other thing to mention... I have kids at home. They don't get an allowance but they do earn money that is kept track of in the "conti" book. (Italian for accounts.) They earn for chores, grades, big labor projects (like our driveway project.) They ask for withdrawals - usually to make online purchases. One has excellent credit and a great work ethic - I'll let him go "negative" up to $50. The other spends as soon as he's got it- and is less willing to earn $ to pay me back if he goes negative... so I don't allow him to. I don't question their purchases too much - except to make sure they're age appropriate. They both earned big bucks on the driveway paver project - older son was able to purchase his "dream" gaming computer. Younger son purchased an x-box.

They've asked for allowance - but I want to tie the "work = money" concept in their head.
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Old 08-23-2014, 09:26 PM   #45
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We have a general budget we make at the beginning of the year. Besides the big ticket expenses it includes money for restaurants, hair cuts, clothes, entertainment, hobby clubs and general household spending. We don't really track spending to plan as it is pretty easy to stay under budget. We track our net worth and after tax cash in total and as long as those are more or less what we expect each month the detailed spending doesn't really matter.

We try to put as much as we can on 2% back credit cards so we don't spend a lot of cash.
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Old 08-23-2014, 10:15 PM   #46
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I answered that we don't have an allowance. We have tried that in the past and it did not work out well for us. DH spends more than I do, but I realized that he enjoys material things more than I do and he enjoys eating out more than I do also. He has never asked me to account for any money that I do spend and has tried to encourage me to spend more previously. I do not enjoy shopping or eating out for the sake of eating out. I have spent more than DH traveling with friends and family.
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Old 08-24-2014, 10:13 AM   #47
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We've never used the allowance concept, but always used a budget. We track CC purchases, along with cash withdrawals (don't track what's purchased with the cash). As long as the total cash withdrawals and CC purchases come in at or under monthly budget - we can absorb those months that occasionally go over for one reason or another. Retired for 5 years now and made a few adjustments to the budget at first to get it to where it's at or below the budgeted amount pretty much most of the time. Keep in mind that for most months, the budget varies. We add to a month's budget for anticipated travel, winter snowbirding, holiday purchases, etc. Only pull cash from our Credit Union/its ATMs or a shared Credit Union in Florida. Cash has generally been a pain in retirement as we usually run short at the most inopportune time (Murphy's Law). Wife usually takes back the cash she gives me. I just hold it for her, as I don't usually spend any of the cash she gives me.
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Old 08-24-2014, 10:31 AM   #48
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In 40 years of marriage we have never had his and hers bank accounts or spending accounts. The only directed accounts have been those necessitated for income tax purposes.

The same for our spend (almost all is reward credit card spending). We don't keep track of who charges what. No point, and it would not alter our spending patterns.

We do not even keep a monthly budget. We keep track of cash payments and cash withdrawals from our bank account on a monthly basis in order to validate our annual spend. Our monthly spend can vary wildly if we are in the middle of planning a trip and pre buying things like airfare, cruise fare, hotels, car rentals, etc. which we often do.
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Old 08-24-2014, 10:41 AM   #49
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Quote:
Originally Posted by scrabbler1 View Post
Am I seeing a pattern in that those of you who reply "yes" with explanations tend to be in 2-person households (i.e. married couples) while those (like me) who reply "no" tend to be in one-person households? That is, the concept of an allowance is used by couples to keep themselves and each other in check?
I see several couples households (like us) responding here that don't do an allowance. We don't argue about ending money. It seems to be a useful technique for couples that sometimes do argue about it.
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Old 08-24-2014, 03:41 PM   #50
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I see several couples households (like us) responding here that don't do an allowance. We don't argue about ending money. It seems to be a useful technique for couples that sometimes do argue about it.
It's not so much about "arguing" but questioning the others choices in spending. With the "allowance" if he wants something that I consider "a waste of money" he can save up for it. It also keeps DH from buying a $300 box of cigars vs a $100 box !
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Old 09-13-2014, 04:29 AM   #51
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Virtually every expense (except Aldi grocery) is paid by credit card.

Yep. And paid in full the next month. Gotta get my South West airline points.
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