What’s a Fun Fund And Why Everyone Needs One
Wondering how to spend without feeling guilty? Introducing the fun fund, the guilt-free purse for all your expensive desires. Find out why you need one, and how to make one with Binance.
What’s life without a little indulgent fun? Be it a spa day to relax those tense muscles, a shopping spree, a month of traveling and rediscovery, or a spontaneous cruise trip to get away from the city life, you deserve a little pick-me-up for the months of hard work you’ve been through.
Of course, similar to feeling guilty for procrastinating, the weight of spending money just for fun may get in the way of actually having fun, especially since you know how hard it is to earn income. When it comes to guilt-free spending, we’ve got just the solution. Introducing the Fun Fund – the piggy bank for grown-ups to help us work hard, and yes, play harder.
Woah, What Exactly Is A Fun Fund?
The concept is really simple – you’re saving money now to spend later. Remember feeding your piggy bank with spare cash and the thrill of knowing that it’s getting fuller and closer to being used when you were younger? You get to do it again – and preferably with grown-up piggy banks this time.
For instance, if you want to go on a long holiday once a year, you can set up a separate savings account meant for that trip and save a portion of your salary every month. If you want to indulge in a decadent omakase or Michelin-recommended steak once a month, you can do that without guilt with your fun fund. And yes, if you’re planning for a no-budget shopping spree on Black Friday, dip into your fun funds and shop away. If that isn’t enticing enough to get you thinking about starting a fun fund, here are some other reasons that people use fun funds.
Here’s Why You Need A Fun Fund
1. To avoid burning out
Burning out occurs when you are experiencing prolonged periods of stress and exhaustion, eventually causing you to lose motivation and become increasingly unproductive. To avoid burning out, it’s important to take timely breaks to destress and recharge so that you can continue sprinting towards your goals for a long time. Having money for the sole purpose of spending it for leisure ensures that you reward yourself and avoid burning out.
2. For guilt-free fun
Having downtime to unwind is important, but some hobbies can be stressful for your wallets. Whether your idea of fun is traveling, crafting or collecting, most of us can’t fully enjoy ourselves when we’re mentally calculating the expenses piling up while playing. Pre-emptively setting funds aside to play definitely changes the game, letting you destress properly without any money-related woes later on.
3. For the power to be spontaneous
Last-minute getaways and spontaneous retail therapy can be really fun… and unfortunately, really expensive. To dip into the blue waters of your weekend island getaway, you’d first need some spare cash to dip into. If you start saving when you’re too busy to spend money, you can build your spending power and jet off on impulse anytime you’re free.
4. To cultivate conscious spending
“Why do I keep spending so much money? Why’s this month’s bill so high? Where did all my money go to?” While we may not have many expensive hobbies, little indulgences can often add up to a big bill. When we plan to spend, however, we start comparing what we spend on versus what we could be spending on, which makes us more aware of our spending habits. You never know, cutting back on your daily latte, cabbing and Friday night drinks might already be enough to fill your fun fund for the month!
5. To encourage better saving habits
As you keep tabs on your fun fund progress, you will learn more about your personal saving preferences and understand what kind of saving habits you need to adopt to fit your lifestyle. If you’re not already saving regularly, you can use your fun fund as a starting point. It’s not only flexible and easy to start, but also only requires a low level of commitment and rewards you at the end of your saving journey, motivating you to maintain your new saving habits.
How To Create A Fun Fund
Ready to start your own fun fund? Here’s how you can do it in four simple steps!
Step 1: Set a goal
We start with the fun part! Fantasize about your idea of relaxing and having fun, then write down what it takes to get there. Plane tickets, accommodation, spa retreats, art jam sessions, wine tasting, music festivals, camping equipment and personal grooming experiences are just some of the many things that should be included in your fun fund goal. After all, as long as you have the budget for it, you can’t get sick of having fun! Write down the estimated cost of everything you want to do and tally up the total to get your fun fund goal. Be sure to add a deadline to your goal as this will help you stay on track. Plus, it’s always fun to look forward to some self-pampering!
Step 2: Decide how you want to save
Some people prefer “spending detoxes” and cutting back on everyday expenses that are unnecessary, or transferring a fixed portion of their salaries to a separate savings account every payday. Others who are unable to commit to long periods of saving may prefer to take on monthly cash challenges to make saving more fun. If you’re already tightening your budget and saving, you can also consider a side hustle, high-interest savings accounts, or passive income streams that can help you grow your fun funds faster. For people interested in getting some assets, you can deposit some cash into your Binance crypto account to start buying crypto and enjoying the interest rates offered. Ultimately, no matter how you choose to save your money, it’s important to be consistent to move closer to your fun fund goals.
Step 3: Check in on your fun fund
With life getting in the way, it’s always good to block out some time to check your fun fund progress. For instance, you could make payday your check-in day so that you can transfer a larger portion of your salary to your fun fund whenever you find yourself falling behind on your target goal.
Step 4: Break that piggy bank!
It’s time to drop some money, dropping all your money. Shop away, spend away and get away! Delight in your fun fund that has been growing as you were busy working, and properly enjoy your fruits of labor. You deserve it.
Ready To Have Fun (Funds)? We Are!
Fretting over money while trying to have fun kills the mood for anyone. From now, start your fun fund to stop feeling guilty when you spend money on things you love. With a little practice, your healthy saving habits will allow you to live your life to the fullest without waiting for your retirement days.