I had a nice and relaxing time at McLean Creek, I slept in, rested and had a good time. As I did, I got a chance to reflect on a suggestion that has come up time and again: Madmoney.
The term “Madmoney” is coined by a friend of mine that refers to essentially personal spends. It is money that you set aside for you to “Go Mad” with and spend on yourself and do whatever you want with.
For me, the trouble with this is that this amount that I budget ($20.00 per payday) is always the first budget item that I cut. Even when I do have it, I may go for one meal at a fast food place and then end up spending it on some necessary item that I didn’t budget for. It never lasts that long and rarely is spent on me.
This gets to the real trouble, the fact that I just don’t feel like my money is actually mine. I feel like the scrawny kid who always has his lunch money taken by the big bullies day after day. How long will it be before the kid no longer feels that his lunch money is his?
I have been servicing never ending debt and living on such tight budgets for years. It has been going on for so long that my paycheque doesn’t feel like mine anymore, it belongs to all of the credit card companies and my other debtors. The cash just flows through me, it isn’t mine. Raises and bonuses don’t excite me, after all I don’t get to keep it; it doesn’t go to benefit me.
That is what this odyssey is for, to take back my paycheque. Once my credit cards are paid off and the two loans are refinanced, then, finally I will feel like my paycheque is mine. Maybe then I will be able to actually spend some Madmoney on me. Until then I just need these cards done and will live on little to see that happen as soon as possible. I will still try to budget a bit of Madmoney, emphasis on “try.”