I've started thinking about our budget in a new way: necessary expenses and entertainment expenses. My goal is to make sure necessary expenses are always covered. To me, the necessary expenses are the core expenses that are needed to live. Entertainment expenses are everything else.
Here are some examples of each expense category:
I like the reframing because entertainment expenses, by definition, are not necessary. Therefore, I shouldn't spend money on entertainment items until I have sufficiently covered the necessary expenses. And after covering my necessary expenses, I need to make choices about with entertainment item to get since I don't have enough money to get them all :-)
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This is not financial or budgeting advice. Please consult a professional advisor.
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