So, what is mad money and why is it so important when creating a budget. First of all, mad money is a certain amount of money that is set aside in the budget for yourself and your spouse. This money can be used by each party for whatever he or she chooses. For instance, if the budget does not allow for a month facial, the woman in the relationship could take her fun money and get a month facial if she so chooses
In order to track you spending you will need the following two budget worksheets: Weekly Expenses Report Worksheet _ On this worksheet you will record all the spending for a given week. You will want to have four copies of this worksheet for a given month. Carry it with you to record expenses or make a habit of recording expenses at the end of the day with your daily receipts. Make sure to include a description of the item, the date purchased, the amount and the expense category. You will also want to write down how you paid for the item whether by cash, check, or credit card. This will give you a very detailed report of your weekly spending.