Setting Want Spending Goals and being able to adhere / keep them!

@SomeCowgirl (32270)
United States
December 19, 2009 7:20pm CST
My husband and I want to earn enough on mylot and gift cards through other sites to be able to pay for wants we want on a monthly basis. I am not sure if we will be able to earn enough, but our goal is to have $100.00 each month to spend, so $50.00 a piece. This isn't including gift cards. Well I don't know if we'll be able to adhere to it, that is, I don't know if we may possibly go over some months, or under.... Also I don't know that we'll be able to keep said plan as we don't pay any bills yet but will once we get our own car and our own place... SO... So have you ever set goals For WANT spending, and not been able to adhere to it by spending too much, or have you not been able to keep said plan or not been able to do that for say one or more months because of bills? Just wondering, thought we couldn't be the only ones who has a want budget.
7 responses
@cynthiann (18619)
• Jamaica
21 Dec 09
No, I have never had a want budget as such. I would save for something if I wanted it as long as my family did not suffer. right now, I did not take my pay for January for Christmas as I want to go to Rome next year. My sister is buying me a ticket for my birthday to the U.K. and from there my two sisters and myself will fly to Rome and spend 3 or 4 days there. So I have to find the money for my ticket to Rome plus the costs of a hotel or bed and breakfast. So I will not buy any lunch but take something from home daily and not buy newspapers or coffee and really save hard to get this money after Christmas as well s tryin to completey pay off my credit card. I am planning in another 3 or 4 years to go to Jerusalem -God willing. That is my dream and after that - no more travelling! have to retire someday but will contine working as long as I can.
1 person likes this
@SomeCowgirl (32270)
• United States
18 Jan 10
I think in ways my Husband and I are still immature. I mean, we could just be saving our money and not spending on wants until we're comfortable, but then again that could be years as we plan to have children. I suppose we're just trying to find the best way to feed our itch to spend as well as our itch to save. We're doing pretty good if I do say so myself. I hope you can get that Rome Ticket and Bed and Breakfast money soon. When do you plan to go to Rome, I know sometime this year, but well I wonder how the weather in Rome is, and if there's a particular great tourist season or not? Going to Jerusalem sounds like a very great idea, a great religious experience...
@cynthiann (18619)
• Jamaica
18 Jan 10
I want to got to the U.K. beginning of June as it will not be too hot in Rome and not too cold in the U.K. I understand that there are very cheap flights from the U.K. to Rome if you only travel with carry on luggage and this is what we will do. All we need are jeans and T shirts, sandals/sneakers and one dress
@thea09 (18327)
• Greece
20 Dec 09
Hi Amber, my income is too sporadic at the moment to think about WANT income, and the things I want get put on hold. I used to want more things when I live in the UK but here everything is so less materialistic that it all seems rather unimportant wanting things for myself as if I indulge I'll only feel guilty afterwards. What I'd do instead is if I got a large commission for something I'd earmark most of it for future bills and then treat myself with some of it without feeling guilty.
1 person likes this
@SomeCowgirl (32270)
• United States
20 Dec 09
I live across from a farm, and in a rural area but I still do think of materialistic things.... how sad though. In any case, right now we have the money for wants because we don't have any bills but nevertheless we are saving for a car, and then a home, so hence the "want budget", that is if it does work out the way we planned, lol. Good idea for earmarking bill money against the want money earned from a big commission.
@bounce58 (17524)
• Canada
21 Dec 09
Hi thea, I wish I lived in a place like yours where the surroundings itself help people not to be materialistic. Unf ortunately, I live by a stripmall. Ten minutes walking distance from Wal-Mart, Best Buy and Costco.
@irishmist (3820)
• United States
25 Dec 09
Well I gotta tell you I have slacked off on making money online, because of stuff in my life going on, but I did have enough in my paypal account for some special christmas gifts that I got on ebay, plus a birthday gift. Now I have to buckle down and try to re- build my paypal account. This is the first time I have ever bought gifts online, and i'm liking it.
1 person likes this
@SomeCowgirl (32270)
• United States
26 Dec 09
We are letting our paypal build up to and will cash out all at once, make it seem like a whole lot more, like a separate paycheck! We've been buying gifts online but we don't use paypal we use our checking account, just cash it out to our checking whenever. Merry Christmas, though it's a day late, and I hope you had fun shopping as well as liked the gifts you received.
@JenInTN (27565)
• United States
21 Dec 09
It's nice to have extra spending money and there's really no better way to get it than to plan for the money to be spent. In this way you don't have to worry about spending bill money. When you guys get your house, this will be a great way to get used to planning for a little extra here and there. I do have things that I want and I try t plan ways to save for them too. Sometimes it takes a while though. For the bigger things.
1 person likes this
@SomeCowgirl (32270)
• United States
18 Jan 10
We're already starting to get some bills, and we'll get more Next month if we are able to get a car. Well, let me clarify by saying if we can find one. I guess the best thing to do is work on a sliding scale budget that says that X % of our income goes to bills (with allowing a little extra just in case) and then x % goes towards savings while the rest goes towards wants / other needs. Ahh, as you can see I'm still a bit over my head in all this.
@bounce58 (17524)
• Canada
21 Dec 09
That's why I opened a savings account, see one of the discussion I started. I am thinking that I put everything I earn online into a different account, I would be able to adhere to my goals and not spend it on something else. If I want something, I will try to get it from this account so that I won't have to feel guilty about it.
@SomeCowgirl (32270)
• United States
18 Jan 10
Hi Bounce! Slowly but surely I'm getting around to everyone. I think I've seen that discussion. Well that's a great idea. The way my husband and I have our account set up though, the money will go to checking but we can always transfer it to savings, I think we can with the type of savings account we have. We have a savings account wherein $1.00 from checking goes into said account every time we make a purchase. At first we weren't making purchases so we were fined but they waived it as we didn't know.
• United States
20 Dec 09
If there is something that I want, I make it a point to save as much money as I can on a weekly basis or monthly basis to be able to pay for the wants. However, I will if I need to, spend the money on things that I need because NEEDS are far more important than wants. That is how many people end up getting into debt. Instead of worrying about and paying for needs, they get too hung up on wants and end up getting into debt over very stupid stuff. And let me just say it's not worth it. Worry about needs first and then work on the wants. If you wait long enough I'm sure you'll end up realizing that you didn't really want that want as much as you thought.
1 person likes this
@SomeCowgirl (32270)
• United States
21 Dec 09
I'm working on mylot to differentiate the money. I mean, the money that we make online will be for wants and additional savings, and the money from our paychecks will go for needs. We know we can't be buying too many wants, so that's why we're trying to figure out a budget, something we could adhere to.
• United States
20 Dec 09
I don't make enough on the internet to really spend it on anything to big. I will make about 10 or 15 dollars through here and then I do a few survey through mail sites but they don't give you enough to get a monthly payment... I enjoy gift cards as well but like to keep those building for more like Christmas and birthdays... I haven't set any goals other than trying to make at least the 10 dollar payout here every month...it is a small goal and I always try for more but as long as I make that I am happy.
1 person likes this
@SomeCowgirl (32270)
• United States
20 Dec 09
The money my husband and I earn online will need to be saved before it could be spent in bulk. We also don't make too terribly much online. I agree gift cards would be great to use for buying gifts or just giving as gifts, so those received online are great! Yes, I know I always try for more then minimum here on mylot but am happy if I make minimum atleast!