How Much Money Should I Spend Each Month?


Being financially stable is one of the top goals you should have as you age and begin looking towards homeownership, investing, and retirement. However, that doesn’t mean that it has to come at the cost of not being able to buy anything you want. That being said, most people don’t know exactly how much money they should spend or can spend. If financial concerns have been on your mind, here are some tips on how to gauge how much money you can spend each month.

Create a budget and plan ahead for larger purchases

Treating yourself every now and again isn’t a bad thing, but it’s important to know whether you have the money for it. The best place to start is to create a budget that helps you see all of your income and expenses in one place. Whether you choose to use a traditional spreadsheet to track your income and expenses or turn to modern budgeting apps, this will ensure that you’re not spending more money than you have available to you on items that you may not be able to afford.

But what happens when you want to buy something that comes with a bigger price tag, like a luxury watch? In this case, you can save a little bit of your extra income each month until you have enough to buy yourself a new timepiece. Whether you’re interested in some of the most iconic watches like the Rolex Submariner, the Cartier Tank, or the Patek Philippe Nautilus, you can save up towards these iconic watches and get your first watch as a watch collector or simply an enthusiast. Your favorite popular watch brand with a high-quality watch design is absolutely within your reach with the right financial planning.

Figure out the difference between what you need and what you want

Sometimes, you may end up spending more than intended because you have convinced yourself that the item in question is a need rather than a want. For example, if you’re purchasing a new game each month or a stack of books that are draining your bank account, chances are that you could cut down on these purchases and allocate your funds elsewhere. On the other hand, you may be investing in health products like Prostate911 from Phytage Labs. While your bottle of prostate supplements isn’t prescription medication, it does help your prostate by leveraging natural ingredients like Pygeum africanum, pumpkin seed, and nettle root to enhance prostate health and bladder health.

If you’re investing a bit of your money in capsules designed to tackle the symptoms of an enlarged prostate or urinary tract health, this would fall into the category of needs for your healthy prostate, rather than a want.

Stash a little bit extra away for variable expenses

Not all of the expenses in your budget are going to remain the same each month. Some expenses, like your rent, are consistent and easy to plan for. Others, such as your utilities, are variable expenses that may change from month to month. Because of these types of expenses, the better question to ask, rather than how much you should be spending, is how much you should be saving. Putting away a little extra each month in your savings account to cover these items should they be more than you expected is a great way to make sure you’re not going over your budget. Then, if you do decide to purchase something you want, you won’t have to stress about whether or not you can cover any unanticipated expenses.

Spending money on yourself isn’t something that you should have to stress out about. If you want to make sure that you stay within your limits, use the tips above to improve your financial literacy and ensure your spending doesn’t impact your financial health.


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