READER REPORT:

Budgeting tips: Pocket money for adults

PAUL CONDER
Last updated 05:00 06/07/2013

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Budgeting tips from Kiwi savers

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We've asked our readers to share their best tips for how to save money.

When my wife and I first married we set up our finances so that we each had a level of discretionary spending money and all other money was held jointly.

The "pocket money" allows us to buy coffees, DVDs, magazines, etc, while ensuring there is a limit on the impact on family finances. It does mean that we have to prioritise the spending though.

Initially this was set at $10 per week and over time, as we have become more financially secure, we have been able to increase the limit.

At the same time we have been able to pay off our mortgage quicker and achieve some of our other savings goals, including tertiary education for our children and family holidays.

Have you got a great tip for how to save money? Hit the big green button to find out about how to contribute to this Stuff Nation project.


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