The beauty of it is, when you’re not in debt and have an emergency fund, it can be whatever you want it to be as long as it’s reasonable. Work hard, play hard.
Agreed. In Nevada. They are bringing home 9 or 10 grand a month. Even if they both spent 500. That’s only 10%. With no debt payments and emergency fund. That’s reasonable. A little of the high end but still not the end of the world. All about ratios for yourself
I budgeted when I first started working at 16. I’m 18 now and stopped maybe 6 months ago. I’m definitely spending more because I’m allowing myself to spend more. I’m to the point where I’m way ahead of where most are and able to be a little frivolous. You should always make good decisions don’t rob yourself of the big and small opportunities that you have created for yourself through hard work. The ability to enjoy yourself is not a luxury everyone has earned.
@@KP-uz3nk Dave says steps 1-3 is an intensity phase. This means you’re attacking your debt/emergency fund with intensity. You want to get through them as quickly as you can. Spending big $ on things outside of this only takes away from that intensity. Have a bit of fun in this phase, but remember what your goals are
Fun money can also be about investing and taking more risk, thats one of my fun money. So even if you lose it, you took the risk and you were gonna spend it for something else anyway.
Great advice. I have my fun money split into 3 categories: Fun Money, Dining Out and Vacation. Money not spent in the Fun Money and Dining Out categories go into investments at the end of the month. Vacation money rolls over and collects.
How you split the categories? Can you tell us more ? For example do you separate the into a different account or one credit card for this transactions?
I see how that's beneficial if you are puting a percentage of your take home which can fluctuate. But can I ask why not keep it capped at whatever you think is reasonable and if you don't spend it, then put that percentage into investments? Or is it a discipline you are working for? Like, fun is earned every month.
I have the exact same categories plus I have a beauty category since I'm a girl. I always go through my eating out and fun money by the end of the month but I roll over my vacation money. I didn't take a big trip this year so I have extra money if I want to do two next year :)
When dave said 150ea is too little for their current situation and household income I totally agreed. When he said “you should double that” (300usd ea) I literally laughed - first due to a surprise by Dave’s response, but then because mean its still a very very frugal amount for their financial situation and combined income. I thought he was going to recommend much more. Though Ken afterwards made a more detailed analysis with probing questions, I liked his recommendation best for them, but overall both were good!
Well, it could be cute instead? As long at it shoots and is effective it's all good. But if you need to use it, you're past the point of needing to scare someone ( or you've escalated things too quickly and may fare poorly in court).
This is my 2nd month in Steps 4, 5, & 6 and it's an adjustment. I've been in "gazelle mode" and I have to adjust my thinking toward my budget. This is a very timely post for me.
Depends on where you’re at in life. We always have to give (service and materially), we have to make sure we stay focused, and we have to make sure we understand money won’t bring happiness in and of itself.
I used to have blow money but then I realized I was just getting stuff I didn't need. I think any money needs to be used responsibly. I was also looking at blow money as money I had to spend even when I really had more than enough. I'd be careful with blow money, it could just be a waste...
Yeah, having "blow money" doesn't mean you have to *blow all of it THIS MONTH!* I regularly roll the unspent portion of my Miscellaneous fund over to the next month; every few months, a confluence of events transpires, and I spend it all.
I budgeted when I first started working at 16. I’m 18 now and stopped maybe 6 months ago. I’m definitely spending more because I’m allowing myself to spend more. I’m to the point where I’m way ahead of where most are and able to be a little frivolous. You should always make good decisions don’t rob yourself of the big and small opportunities that you have created for yourself through hard work. The ability to enjoy yourself is not a luxury everyone has earned
I'm on baby step 6, and still feel like I'm gazelle mode to pay off my house. But it is good to hear about 'fun money'. Too often I see on money management forums that all extra money should go to investing for retirement, and never talks of spending for fun. I always think to myself, is no one living life? What is the point of saving all of this money if you don't do anything with it? At what point do you say, 'okay, I'm saving back enough to live comfortably in my retirement years, now let's have some fun!'.
The nihilistic in me says “never.” The realest in me says at some point you need to live in the moment. The point of delayed gratification is to a) delay it temporarily, and b) only delay enough of it to still secure your future
$300/mo is a lot! Surprised actually that Dave raised the limit so much. I’m a natural spender so that makes me excited but spending a total of $600/mo is a lot of potential money to invest.
Its a lot you are right, but don't forget with an income of $160k they are investing a MINIMUM of $24k a year. They are going to be just fine financially
But the point is at this step, it's hard to increase your spending because you've been paying off debt. Personally I don't think I could spend 300. "Walking @ $$"
there's a certain point where the extra earnings won't make much of a different for couples. For example, imagine the difference for one couple being 90k vs 100k in retirement. For some, especially those with a paid off home, that 10k won't make much of a difference for their situation. So might as well enjoy life now. On the other hand, if that extra $600/month means you make 50k instead of 40k (late saver) in retirement, then you better invest that extra fun money. You already had your fun
Love when you say tip is an important thing. I work as a server and we live by tips we always get pay less because we receive tips, but there is a lot of people who sometimes dont leave not even a cent.
We are there now too, six figure household income, bs4/5/6, suddenly all the stuff we want we just buy it. Also home renovations. As I type they’re a crew waterproofing the basement here. Paying $20 for pairs of jeans and for dresses now, bringing home meat enough for every day and even avocados. Our cars are only 8 years old. Feels really lavish.
They are doing great. Good for them. It's always good to hear what others are doing with the budget and planning. We had to have this very conversation many years ago. Looking at our monthly spend, entertainment and giving are about equal to what we put in investments. So the bills of the house do not hold a flame to the "free money flow" that we have after all that. It's a crazy but good place to be. If you get to this point, yeah you can have some fun with money.
There is an argument to be made that budgeting 'fun money' is not a good way to think about money. Each purchase should be considered on it's own merit.
It depends on what the occasion is for me to spend fun money. For the casino it’s a max of $100 for a night, maybe $20 a month for scratch offs, and $100-150 a month for going out
In bs7 here and still don’t have “blow” money. Every dollar still has a purpose. We are saving for a pool and remodeling a few things paying cash. We have things we want to do and put them in categories etc.... make your money matter.
$150 is too low, unless they are trying real hard to just hit a certain couple million by retirement, then raise the fun budget, but its certainly good to have some fun while young, and with their income they can save plenty for retirement and each have $500 a month for fun.
I like that he said “principles”, not rules. One of our principles is that we give more than our personal spending. So percentages help with that. We tend to give 11-13% of income and our individual spending money is about 4%, so 8% total.
Spend as little as you can tolerate. If you’re happy with 150 then stick with it. Being wealthier doesn’t mean your fun-requirements have to increase. “Spoil yourself” is not a baby step but it’s what got Dave in trouble in his 20s. That’s a step you never need to touch. You never know when disaster will strike or your employment will change.
I make $110k and my fun money is $20 a year 😂 I allow myself one movie ticket annually for the most anticipated movie of the year. The rest of my entertainment is part of my internet bill, which I need for work anyway
I prefer to do fun things that actually go beyond fun. E.g., going out to network with potential future business partners and future spouse, getting exercise while I'm having fun, learning new hobbies that can help with the networking, etc. I rarely just have pure non-productive fun.
Hey Dave so what would be a good percentage out of the budget to give yourself and your spouse for fun money when working on baby steps 4,5,6? That way you dont go over board and put to much in the fun money category.
I work valet and that is exactly how it works. You tip big you get your car kept up. I've had people with Ferraris ask me why isn't their car kept up but the old Honda is? I don't tell them why because I'll get fired, but it's because the guy with the 95 Honda gave me $100 and you are known for stiffing lol
Used to work at a golf course and this is true. We always remembered the members that tipped and took care of us. Good tipper and generally nice person? Your stuff is sitting on your cart ready for you when you arrive for your tee time so you can just go right on to warm up and get your food/drinks and in most cases we're waiting on your car when you pull up to the bag drop. Don't tip or bad attitude, you're going to be waiting a bit for us to get your stuff out of the bag room, lol. We used to joke around that the members should be careful with how they treat the staff given that their golf bags and clubs sit there with us all day and night.
How is gun a category but nice reliable car is not? Neither should be an absolute monthly expense. He always says buy a 5k car. I get buying a gun every once in a while or ammo but how much gun do you need every month?
My husband is a spender so to avoid overspending and problems i do give him $150 a month to spend or save on his own. It might seem like a waste to some but compared to the money he spent before. It works and helps out A LOT especially being on Baby step 2
Look how many men want to put their wives on an “ allowance” If you’re helping him to not spend so much it might be ok. Do you take All of his money. My wife and I have seperate accounts and one small joint account
@@davidbown2707 Eh, if you're on step 2 still in debt, $150 fun money is what they'd call "Dave-ish". They're not on rice and beans, and not gazelle intense focused. After they're out of debt that spouse allowance will explode and are likely to go back into debt.
@@davidbown2707 we have a joint account so both our money goes into it. But we both talk about our budget together and the allowance was actually his idea, the number was mine. He was spending $500+ a month prior to marriage, so we got it down to $300 and then $150.
I've heard this before but guess I'm missing something and I'm trying to understand so as not to be the "mad wife". Do you have specific categories for things like hanging with friends, fishing, hunting, sports games, golfing, and/or gaming (pick your poison)? Or you literally don't do anything but invest? I want season tickets and that's something I'm saving for but I also get my nails done (I could do it myself) and they're all still considered part of my fun money category.
@@saptab1344 To be fair, I think the only reason we think that’s high is because most people that listen to and follow Dave are financial enthusiasts and focus on debt payoff & building wealth. We’re the minority. The guide for the average person says 50% of income should go to bills, 30% to wants & 20% to savings. So tbh, he’s just following the model for the average person. It’s not good but not catastrophic for a normal person that has no interest in reaching financial independence
I used to get $100 a month, but for the past few years I have not been receiving anything. I still make a few purchases a year. Most are not expensive.
Really everyone that calls is like that to Most of the world. Guys that work at McDonalds are rolling around in brand new cars. More than a billion ppl live on a few dollars a day
@Dustin Shults in a sense he is. He budgeted his way out of debt. He knows what it takes to stay broke and to keep money in the bank. They can clearly make out a reasonable budget that would keep them out of trouble. This is assuming they have basic common sense though. I see how they could have blindly followed the baby steps to get out of debt and now are lost because all he does is follow directions. A good worker bee.
People spend their whole life saving for when they are old and paying bills... they forget to live in between. I save up in increments for big purchases and leave myself $200 a payday to blow...I don't need to buy alot unplanned between paydays. The rest is bills and saving.
My husband and I had a small allowance of $20 a week but in one year that totals $1,920.00 so we knocked it down to $10 each a week and it is $960.00 now and the thousand will go toward paying down debt!!
How much fun money do I have?
Dave: "sell the car."
😂😂😂🤣
Bahahahaha!
Beans and rice. Rice and beans.
you are not doing the gazelle intensity right man
Where did that come from? Your comment has nothing to do with the video.
The beauty of it is, when you’re not in debt and have an emergency fund, it can be whatever you want it to be as long as it’s reasonable. Work hard, play hard.
Agreed. In Nevada. They are bringing home 9 or 10 grand a month. Even if they both spent 500. That’s only 10%. With no debt payments and emergency fund. That’s reasonable. A little of the high end but still not the end of the world. All about ratios for yourself
I budgeted when I first started working at 16. I’m 18 now and stopped maybe 6 months ago. I’m definitely spending more because I’m allowing myself to spend more. I’m to the point where I’m way ahead of where most are and able to be a little frivolous. You should always make good decisions don’t rob yourself of the big and small opportunities that you have created for yourself through hard work. The ability to enjoy yourself is not a luxury everyone has earned.
If still in baby step 2 or 3 are we still allowed to have a play money category or should it be eliminated until in 4/5/6?
@@KP-uz3nk Dave says steps 1-3 is an intensity phase. This means you’re attacking your debt/emergency fund with intensity. You want to get through them as quickly as you can. Spending big $ on things outside of this only takes away from that intensity. Have a bit of fun in this phase, but remember what your goals are
Work hard, support missionaries and worthwhile projects/ compassion children. Play responsibly.
I gotta find out where Dave eats so I can become a valet there lol
Definitely up your income!!
Do not forget to tell us too. Now that's cool.
@@Simon-je7ko I'm actually curious to how much he tips what u guys think
Absolutely!
@@musicpro7278 50 bucks and up?
Fun money can also be about investing and taking more risk, thats one of my fun money. So even if you lose it, you took the risk and you were gonna spend it for something else anyway.
Every once in a while I like to really go crazy and buy a cup of hot chocolate from the gas station on the way home from work.
Same
😂😂
Lol 😂
I bet that once in a while hot chocolate feels just as good as any other splurge too
@@donovanmacdonald1236 It's nice. Really closes out the week on a Friday night.
Great advice.
I have my fun money split into 3 categories: Fun Money, Dining Out and Vacation.
Money not spent in the Fun Money and Dining Out categories go into investments at the end of the month. Vacation money rolls over and collects.
How you split the categories? Can you tell us more ? For example do you separate the into a different account or one credit card for this transactions?
I like that mentality.
@@godiegogo81 you probably can do it through your current bank.
I see how that's beneficial if you are puting a percentage of your take home which can fluctuate. But can I ask why not keep it capped at whatever you think is reasonable and if you don't spend it, then put that percentage into investments? Or is it a discipline you are working for? Like, fun is earned every month.
I have the exact same categories plus I have a beauty category since I'm a girl. I always go through my eating out and fun money by the end of the month but I roll over my vacation money. I didn't take a big trip this year so I have extra money if I want to do two next year :)
Baby steps 4, 5, and 6 in 2021!!! Thank you Dave Ramsey ❤️
When dave said 150ea is too little for their current situation and household income I totally agreed. When he said “you should double that” (300usd ea) I literally laughed - first due to a surprise by Dave’s response, but then because mean its still a very very frugal amount for their financial situation and combined income. I thought he was going to recommend much more.
Though Ken afterwards made a more detailed analysis with probing questions, I liked his recommendation best for them, but overall both were good!
Blow category is a great thing. Hope everyone hits this spot!
...
But blow can get quite expensive.... I dunno
It definitely hits the spot
304 also.
Careful, blow is addictive
What's the point of having a gun if it's not scary. This why I love Dave.
Well, it could be cute instead? As long at it shoots and is effective it's all good.
But if you need to use it, you're past the point of needing to scare someone ( or you've escalated things too quickly and may fare poorly in court).
HAHAHAHAHAHAHA I laughed so hard at that.
@@ordinaryhuman5645 not if you are just going to the firing range
@@Potato_pigeon There's no need to scare people at the firing range either. Actually, that's probably a terrible place to be scaring people.
@@ordinaryhuman5645 guns are not only to scare people but to also just have fun
This is my 2nd month in Steps 4, 5, & 6 and it's an adjustment. I've been in "gazelle mode" and I have to adjust my thinking toward my budget. This is a very timely post for me.
Good to remember this category. Your mental and emotional wellbeing in living a happier freer funner life is SO super important.
Perfect opportunity to respond, "Better than I deserve" when Dave asked how he was. Having this opportunity is a bucket list item for me.
Wonder if you are allowed to say that
love how he always randomly mid speech he says "so whats your household income"
"What's the point of having a gun if it's not scary?" -Dave Ramsey
💯 Dave!!!
😂
I had to do a double take on that one, hilarious!
What a stupid thing to say. There are too many gun nuts out there.
@@hollyb6885 gun "nuts" tend to be legal gun owners lol
Depends how much “fun” you have eating rice and beans.
😂
😂😂
His co host question was very in line with Dave’s mantra of intensity vs intentionality
My fun budget would include travel for sure
4, 5, & 6 hopefully next year 🤞
Tymty congratulations im in college on scholarship for STEM, im going to stay out of debt and hopefully i can be on step 6 in 5 or 10 years
Same, man. Seems so close too by the way this year went lol
“What’s the point of a gun if it’s not scary” is my new favorite quote.
"Whats the point of having a gun if it's not scary?" -Dave Ramsey 2021
Depends on where you’re at in life. We always have to give (service and materially), we have to make sure we stay focused, and we have to make sure we understand money won’t bring happiness in and of itself.
I had a similar question about vacation money. I actually consulted with a professional about this. Ended up realizing that we can spend more.
What kind of professional?
@@dbag57
A financial advisor. Not a world expert. 😂 But someone with extensive experience with customers. And therefore a lot of perspective.
Get him Dave!!
Didn't expect seeing u here bro. Been watching ur other channel for years g.
I used to have blow money but then I realized I was just getting stuff I didn't need. I think any money needs to be used responsibly. I was also looking at blow money as money I had to spend even when I really had more than enough. I'd be careful with blow money, it could just be a waste...
Yeah, having "blow money" doesn't mean you have to *blow all of it THIS MONTH!* I regularly roll the unspent portion of my Miscellaneous fund over to the next month; every few months, a confluence of events transpires, and I spend it all.
@@RonJohn63 Nice, looks like you have good discipline.
I budgeted when I first started working at 16. I’m 18 now and stopped maybe 6 months ago. I’m definitely spending more because I’m allowing myself to spend more. I’m to the point where I’m way ahead of where most are and able to be a little frivolous. You should always make good decisions don’t rob yourself of the big and small opportunities that you have created for yourself through hard work. The ability to enjoy yourself is not a luxury everyone has earned
I'm on baby step 6, and still feel like I'm gazelle mode to pay off my house. But it is good to hear about 'fun money'. Too often I see on money management forums that all extra money should go to investing for retirement, and never talks of spending for fun. I always think to myself, is no one living life? What is the point of saving all of this money if you don't do anything with it? At what point do you say, 'okay, I'm saving back enough to live comfortably in my retirement years, now let's have some fun!'.
When you've paid everything except your mortgage. (I'm not a Ramseyite, so never followed that plan.)
If you are too tired to spend, then what's the purpose?
The nihilistic in me says “never.” The realest in me says at some point you need to live in the moment. The point of delayed gratification is to a) delay it temporarily, and b) only delay enough of it to still secure your future
Wow your income doubled! You guys deserve some fun!🙌
Haha. You are everywhere
$300/mo is a lot! Surprised actually that Dave raised the limit so much. I’m a natural spender so that makes me excited but spending a total of $600/mo is a lot of potential money to invest.
@Loving Reid right!? $600/mo getting a 10% return for 15 years is $239k. Do that for 25 years and it grows to $739k.
Its a lot you are right, but don't forget with an income of $160k they are investing a MINIMUM of $24k a year. They are going to be just fine financially
What's the point of having money if you don't enjoy any of it? They're at the point where they can start to enjoy some of it.
But the point is at this step, it's hard to increase your spending because you've been paying off debt. Personally I don't think I could spend 300. "Walking @ $$"
there's a certain point where the extra earnings won't make much of a different for couples. For example, imagine the difference for one couple being 90k vs 100k in retirement. For some, especially those with a paid off home, that 10k won't make much of a difference for their situation. So might as well enjoy life now.
On the other hand, if that extra $600/month means you make 50k instead of 40k (late saver) in retirement, then you better invest that extra fun money. You already had your fun
There's nothing like "fun money" in my family and my wife understands that. We are working hard and smarter to retire at 40.
What we basically do is we invest and save money.
@@johnbartell9522 wise decision this is the best thing i have read on the today.
Good for you. Am sure you are a boring husband and father.
Boy am proud of you. I wish i made plans like this when i was younger.
@@johnbartell9522 what sort of investment are you into?
“What’s the point of a gun if it’s not scary!?” 🤣🤣🤣 agreed!!!
Love when you say tip is an important thing. I work as a server and we live by tips we always get pay less because we receive tips, but there is a lot of people who sometimes dont leave not even a cent.
However much gas costs to go to work
We are there now too, six figure household income, bs4/5/6, suddenly all the stuff we want we just buy it. Also home renovations. As I type they’re a crew waterproofing the basement here. Paying $20 for pairs of jeans and for dresses now, bringing home meat enough for every day and even avocados. Our cars are only 8 years old. Feels really lavish.
They are doing great. Good for them. It's always good to hear what others are doing with the budget and planning. We had to have this very conversation many years ago. Looking at our monthly spend, entertainment and giving are about equal to what we put in investments. So the bills of the house do not hold a flame to the "free money flow" that we have after all that. It's a crazy but good place to be. If you get to this point, yeah you can have some fun with money.
There is an argument to be made that budgeting 'fun money' is not a good way to think about money. Each purchase should be considered on it's own merit.
Fun and happiness is a merit.
When "Fun Money" is 100% of someone paycheck.
XD
😩 feeling that right now.
Love your name and profile picture.
$150 is your paycheck? Which plantation do you work on?
It depends on what the occasion is for me to spend fun money. For the casino it’s a max of $100 for a night, maybe $20 a month for scratch offs, and $100-150 a month for going out
In bs7 here and still don’t have “blow” money. Every dollar still has a purpose. We are saving for a pool and remodeling a few things paying cash. We have things we want to do and put them in categories etc.... make your money matter.
Omg. Dave. “What’s point of the Gun if it’s not scary!” LOVE IT.
“I love your multiple personalities” the best comment ever. Can not relate more !
$150 is too low, unless they are trying real hard to just hit a certain couple million by retirement, then raise the fun budget, but its certainly good to have some fun while young, and with their income they can save plenty for retirement and each have $500 a month for fun.
I like that he said “principles”, not rules. One of our principles is that we give more than our personal spending. So percentages help with that. We tend to give 11-13% of income and our individual spending money is about 4%, so 8% total.
11 + 4 is 15 total 😂
Giving is great
Congrats
Spend as little as you can tolerate.
If you’re happy with 150 then stick with it.
Being wealthier doesn’t mean your fun-requirements have to increase.
“Spoil yourself” is not a baby step but it’s what got Dave in trouble in his 20s. That’s a step you never need to touch. You never know when disaster will strike or your employment will change.
"Whats the point of a gun if its not scary" haha
I’d totally do a g*n category. Because that stuff gets expensive quick, lol!
Deeply happy I come across this trustworthy vendor been a second time of getting CC from him *Remma23*
On telegram much love I have for you 💯✅
What is g*n?
@@michaelvan6675 gun?
Lol I’d consider that blow money
What’s Gon
"every time I buy a gun it costs me a purse" I love it!
I love this new model. It’s just not Dave doing the talking when the other guy added to the conversation and asked Dave a question I laughed.
Awesome video!
I love how Koleman added to the discussion. I too would put guns and any wants in this cathegory. Loved Daves explanation.
I make $110k and my fun money is $20 a year 😂 I allow myself one movie ticket annually for the most anticipated movie of the year. The rest of my entertainment is part of my internet bill, which I need for work anyway
I prefer to do fun things that actually go beyond fun. E.g., going out to network with potential future business partners and future spouse, getting exercise while I'm having fun, learning new hobbies that can help with the networking, etc. I rarely just have pure non-productive fun.
Me too. I don't even really enjoy nonproductive fun. To me fun is exactly what you described.
Dave, "Why have a gun if it's not scary"?
Great financial advice, honestly.
great advice in general :P
“What’s the point of a gun if it’s not scary?” -Dave 🤣🤣😂😂😂🤣❤️
I've been wondering this! Thanks for this question.
but "intellectual laziness" *is* what I want to do, Dave! lol
I would say 10% of your budget. If you can't have fun with your money what's the point of living
Between 5-10%. Depends on how fast you want to save up for other things.
I can write off my fun money on my taxes since I am game developer, so I is definetly more than that xD
I used to be a valet. Dave gets it. I’d park his car in the closest possible spot every time.
What kind of tip money gets you that spot?
@@ystebadvonschlegel3295 if you tip up front? $5 if it's slow, $10 or $20 for sure. your mileage may vary
My budget has an ATF category.
This is good info and categoring your money is smart.
Man I have 20k in debt from student loans and its so hard to go down on those.
Same
🤔 I’m working on being debt free. I can do that. 2nd Amendment baby!!! Thank GOD for Dave Ramsey!!!
my fun money is 12$ a week . 48$ a month, is that reasonable? I am 20k in debt.
I've never planned fun money, I just hold off long as I can till I need it.
"I would separate the guns out of it" ... Yep. That's a category on it's own!
The best category!!
Thank you sir for this
For the cash stuffers, Dave's talking about making certain fun monies their own sinking funds category.
I thinks its just nice to have money in your pocket
Hey Dave so what would be a good percentage out of the budget to give yourself and your spouse for fun money when working on baby steps 4,5,6? That way you dont go over board and put to much in the fun money category.
I work valet and that is exactly how it works. You tip big you get your car kept up. I've had people with Ferraris ask me why isn't their car kept up but the old Honda is? I don't tell them why because I'll get fired, but it's because the guy with the 95 Honda gave me $100 and you are known for stiffing lol
Used to work at a golf course and this is true. We always remembered the members that tipped and took care of us. Good tipper and generally nice person? Your stuff is sitting on your cart ready for you when you arrive for your tee time so you can just go right on to warm up and get your food/drinks and in most cases we're waiting on your car when you pull up to the bag drop. Don't tip or bad attitude, you're going to be waiting a bit for us to get your stuff out of the bag room, lol. We used to joke around that the members should be careful with how they treat the staff given that their golf bags and clubs sit there with us all day and night.
Not having to work at 65 is my idea of fun. Even a couple years is worth the sacrifice.
At $160k/yr, assuming they're saving a good chunk for retirement, not having to work at 65 will be a piece of cake.
His opening compliments were spot on!
How is gun a category but nice reliable car is not? Neither should be an absolute monthly expense. He always says buy a 5k car. I get buying a gun every once in a while or ammo but how much gun do you need every month?
My husband is a spender so to avoid overspending and problems i do give him $150 a month to spend or save on his own. It might seem like a waste to some but compared to the money he spent before. It works and helps out A LOT especially being on Baby step 2
Your husband has an allowance? If Dave saw this he'd ask "are you his mommy?"
@@Sizukun1 lol could say that but obviously not having one hasn't been helping us get out of debt.
Look how many men want to put their wives on an “ allowance” If you’re helping him to not spend so much it might be ok. Do you take All of his money. My wife and I have seperate accounts and one small joint account
@@davidbown2707 Eh, if you're on step 2 still in debt, $150 fun money is what they'd call "Dave-ish". They're not on rice and beans, and not gazelle intense focused. After they're out of debt that spouse allowance will explode and are likely to go back into debt.
@@davidbown2707 we have a joint account so both our money goes into it. But we both talk about our budget together and the allowance was actually his idea, the number was mine. He was spending $500+ a month prior to marriage, so we got it down to $300 and then $150.
How is intensity and intentionality any different?
I struggle with fun but, I also want out of the mess real bad.
My wife doesn’t like it but my fun money is the money I save and invest!
I think I'm gonna be like this in the future too and wife will also not like it!
@@pprreejj nice! I tell her go ahead and spend your fun money I enjoy investing with me. Best of luck in your financial journey!
I'm with you.... minus the "wife".
I've heard this before but guess I'm missing something and I'm trying to understand so as not to be the "mad wife". Do you have specific categories for things like hanging with friends, fishing, hunting, sports games, golfing, and/or gaming (pick your poison)? Or you literally don't do anything but invest? I want season tickets and that's something I'm saving for but I also get my nails done (I could do it myself) and they're all still considered part of my fun money category.
Christ 150?? I make 1600ish a month and my fun money is maybe 500 lol. I may need to reduce.
Holy. $500! Das richhhhh 😂 we make double that and spend about $200 between both of us! One day we’ll live to ball hard though
Do you live at home with mom and dad?
@@nathalieisneonyou’re fun money is 30% of your income? Do you not have bills? Do you not have a retirement account???
My personal spending per month is $100
@@saptab1344 To be fair, I think the only reason we think that’s high is because most people that listen to and follow Dave are financial enthusiasts and focus on debt payoff & building wealth. We’re the minority. The guide for the average person says 50% of income should go to bills, 30% to wants & 20% to savings. So tbh, he’s just following the model for the average person. It’s not good but not catastrophic for a normal person that has no interest in reaching financial independence
None, until you are out of debt, period.
You live in Vegas you can work 24/7 until out of debt.
When they ask what's your household income, do they mean pre taxes or after taxes?
Pre
150 is a good amount. Mine has been $100 for a bit.
I used to get $100 a month, but for the past few years I have not been receiving anything. I still make a few purchases a year. Most are not expensive.
@@mocheen4837 put it in an account anyway and after a few years, go on holiday
Where can i learn more about the babysteps?
I don’t have fun can I use “fun money” on a car payment ? 350 a month? Make 1200’ a week
Answered my question, too - thanks!👍
when food is what give you fun the groceries and fun budget is the same
I hate the stupid bragger callers. "Hi I make a million dollars a year, is a hundred dollars too much to spend a month?"
Give me a freakin break.
Haha I'm with you. It so asinine.
Really everyone that calls is like that to
Most of the world. Guys that work at McDonalds are rolling around in brand new cars. More than a billion ppl live on a few dollars a day
Finally someone realized that. You never hear a call about helping your fellow human being.
I skip those... If it's obvious. Just can't listen to those ppl.
@Dustin Shults in a sense he is. He budgeted his way out of debt. He knows what it takes to stay broke and to keep money in the bank. They can clearly make out a reasonable budget that would keep them out of trouble. This is assuming they have basic common sense though. I see how they could have blindly followed the baby steps to get out of debt and now are lost because all he does is follow directions. A good worker bee.
Great video.
OMG! People are something. When I was young I had so much fun. Money? I had no money but I had a lot of fun. 😂🤣
😂 ya
Save up for a cruise or world trip
Blow category means something different to some.
When the caller said "guns", I thought Dave was about to adopt him on the spot.
I'd F agree bc if you add to the gun and bag ammo and hair categories eachother can't say no one contributed to each others category.
I don't get this. Why aren't hobbies 'fun money'?
Now I want to know how much he tips the valet
I wonder if it’s like $100 each time ?
As much as your credit cards have!!!!!
People spend their whole life saving for when they are old and paying bills... they forget to live in between. I save up in increments for big purchases and leave myself $200 a payday to blow...I don't need to buy alot unplanned between paydays. The rest is bills and saving.
^ agreed what’s the point of saving all that money if you aren’t gonna use it to have some fun.
The point is that most of the people in trouble with money put having fun before saving
glad there’s other people here in vegas following these steps! most people here try and act too boogie.
My husband and I had a small allowance of $20 a week but in one year that totals $1,920.00 so we knocked it down to $10 each a week and it is $960.00 now and the thousand will go toward paying down debt!!
"whats the point of a gun if its not scary"... I almost missed that lol
I allocate 20%