How Much fun money is everyone giving themselves?
Welcome back to Asking for a Friend! 💌 We always joke (virtually, because #RemoteWorkLife) that we don’t give ourselves enough fun money, we’re so focused on saving and investing that we sometimes forget to actually enjoy our hard-earned cash! But it got us thinking… how much should we actually be setting aside for fun?
So, we asked you… and wow, did you deliver! We surveyed 732 people, and if you were one of them, thank you! 🥰 If you’d love to have your say in future Asking for a Friend questions, we have a link at the end (virtual hugs for helping get more accurate data for our community)
P.S. When we say fun money, we mean the guilt-free cash you set aside for the things that make life enjoyable: brunches, weekend getaways, spontaneous shopping sprees, the works. Because life’s about living too! 💃✨
So, What Does This All Mean?
💸 Fun Money vs. Salary – Does Earning More Mean Spending More?
In general, people with higher salaries do tend to spend more on fun… but not always! Some high earners barely allocate anything (if this is you we would love to know why), while others are fully embracing their higher income era.
The biggest takeaway? It’s not just about how much you earn, it’s about your personal values!
How Do People Budget Their Fun Money?
51.4% set a budget for things like dining out, hobbies, and entertainment.
48.6% take a more relaxed, "spend as you go" approach.
That’s nearly a 50/50 split! Some people thrive on structure, while others prefer flexibility, both approaches work depending on your money personality.
Does Spending Guilt Change with Age?
Younger people (19-45) report lower guilt when spending on fun, maybe because experiences are more socially encouraged at this stage?
Older individuals (56-65) tend to feel more guilt, likely because they’re focusing more on retirement and financial security.
Does Fun Spending Change Over Time?
Fun spending peaks in the 46-55 age group.
After 56, it starts to decline, as financial priorities shift toward savings and long-term goals.
So… are our 40s and 50s the golden age of treating ourselves? 👀
What Can We learn From This?
📈 Do Higher Earners Spend More?
Yes, on average, people earning $200K+ allocate significantly more to fun money.
But here’s the interesting part: even those earning under $50K still set aside fun money!
💡 Key Takeaways:
✨ Earning more doesn’t automatically mean spending more on fun—your habits and priorities matter just as much as your salary.
✨ People are split between budgeting and spontaneous spending—both work, it’s just about what suits you!
✨ Spending guilt shifts with age—young people feel less of it, while older individuals think more about long-term security.
✨ Fun money peaks in our 40s and 50s—so if you’re there, enjoy it!
✨ No matter your income, most people make room for fun—because money isn’t just for saving, it’s also for living.
So… how does your fun money compare? 💭
💸 Fun money isn’t a luxury, it’s a necessity!
Giving yourself permission to spend guilt-free on things that bring you joy isn’t "bad budgeting" it’s actually a smart way to make your financial plan sustainable. If you cut out all the fun, you’re more likely to feel deprived and splurge later.
✨ Try this: Set a percentage of your income (even just 5%) for fun money each month. That way, you can enjoy your hard-earned cash without derailing your bigger financial goals!
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Just a friendly reminder: Our content is here to inform and empower, not to provide personalised financial advice. We love making money talk fun and accessible, but when it comes to your own finances, it’s always best to chat with a licensed professional who understands your unique situation. Do your research and make informed choices that work for you!