If you regularly track your Fun Money spending but are struggling to stay within your budget, then you will benefit from my Fun Money Spend Analysis Tool.
As explained in my book Following Your Money, your available Fun Money is calculated by subtracting necessary living expenses and savings from income. It’s important to track this discretionary spending number over time to ensure you are living within your means while saving for the future.
The tool allows you to not only track spending in top Fun Money spend categories, but more importantly simulate reductions in categories to achieve target Fun Money spending.
The great thing about this approach is that it applies to everyone, no matter your age or situation. Whether you’re just starting out or nearing retirement, tracking and controlling your Fun Money spending is foundational for achieving and maintaining financial independence and well-being.
The Fun Money Spend Analysis Tool is an Excel spreadsheet with three worksheets. You are welcome to download and customize it as needed.