Tip _ Allow for Savings _ It is always a great idea to plan to save a certain amount of money each month. This can be the beginning of an emergency fund so when unexpected expenses come your way you don't have to reach for your credit card. This is an important step to getting and keeping yourself out of debt.
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