For my whole life I have generally operated this way.....
Family HAS to live off the basic pay check.
Any overtime money went to a mutual slush fund. Wife got half and I got half. Spend how you want it. This got me started when I was younger down the tool road. Sometimes we pooled out OT funds and bought something we 'wanted' at xmas time.
MY side jobs go toward MY slush fund. I do all my own car/truck work. Money saved goes toward MY tools. I always considered buying tools (when I didn't have them) to do a side job that I thought I was capable of doing if I could break even in the end.
On top of all that I mentally budget about $100/month for tools, consumable supplies. The wife 'budgets' at least that much for her 'stuff'. 'Don't ask, don't tell' as long as both of us don't abuse the process.
I don't mingle slush funds with household funds.
Anything I build for the family/home I figure what it would cost for someone else to do it, figure what it will cost me to do it and then figure that I can spend 1/2 the difference (assumes I can do it cheaper) on tools and 'stuff'.
Over the years the wife has had her part time jobs to fund her 'mad money' endeavors. I don't ask. I don't want to know.
I built a 1000 sq ft addition 20 years ago all from a slush fund that had been accumulating for a number of years with the goal of building the addition.
As you can probably tell, being in debt isn't one of my favorite positions to be in. Basic mortgage and that's it. I try to get 10 years out of new cars/trucks before I buy another new one. I'd rather have tools and drive a junker (as long as its reliable).
Family HAS to live off the basic pay check.
Any overtime money went to a mutual slush fund. Wife got half and I got half. Spend how you want it. This got me started when I was younger down the tool road. Sometimes we pooled out OT funds and bought something we 'wanted' at xmas time.
MY side jobs go toward MY slush fund. I do all my own car/truck work. Money saved goes toward MY tools. I always considered buying tools (when I didn't have them) to do a side job that I thought I was capable of doing if I could break even in the end.
On top of all that I mentally budget about $100/month for tools, consumable supplies. The wife 'budgets' at least that much for her 'stuff'. 'Don't ask, don't tell' as long as both of us don't abuse the process.
I don't mingle slush funds with household funds.
Anything I build for the family/home I figure what it would cost for someone else to do it, figure what it will cost me to do it and then figure that I can spend 1/2 the difference (assumes I can do it cheaper) on tools and 'stuff'.
Over the years the wife has had her part time jobs to fund her 'mad money' endeavors. I don't ask. I don't want to know.
I built a 1000 sq ft addition 20 years ago all from a slush fund that had been accumulating for a number of years with the goal of building the addition.
As you can probably tell, being in debt isn't one of my favorite positions to be in. Basic mortgage and that's it. I try to get 10 years out of new cars/trucks before I buy another new one. I'd rather have tools and drive a junker (as long as its reliable).