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Dave Says: Should I Still Budget Blow Money?

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Dear Dave,

I’m following your plan and trying to get out of debt. Should you have a “blow money” category in your budget before your debt is paid off?

–Luke

Dear Luke,

You bet! The key is to make that category very, very small. You shouldn’t run around spending money on all kinds of fun stuff when you’re trying to get out of debt. I want you to be really focused—gazelle intense—when it comes to getting out of debt. If you reach this level of intensity, there’s naturally going to be less wiggle room in your budget, because you’ll be squeezing out every dime you can find to kill the debt!

Keep in mind that I’m not saying you can’t have any fun at all when you’re getting out of debt. But keep that category very small. We’re talking about extreme sacrifice for a short period of time. I know it can be tough, but trust me—it’s worth it!

Dave

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About The Author

Dave
Ramsey

Dave Ramsey is America's trusted voice on money and business. He has authored five New York Times best-selling books: Financial Peace, More Than Enough, The Total Money Makeover, and EntreLeadership. His newest book, written with his daughter Rachel Cruze, is titled Smart Money, Smart Kids. The Dave Ramsey Show is heard by more than 8 million listeners each week on more than 500 radio stations.