The Frindy Dindy Account
Frindy Dindy money allows you to have fun and enjoy your money, while still balancing your long-term financial goals.
What is “Frindy Dindy” money?
When I first created my budgets, I focused solely on necessary monthly expenses and savings, believing that spending on "unnecessary" items was wasteful. As a result, month after month, I completely ignored my budget!
No one wants a life limited to just paying bills. That’s why I recommend setting up a “Frindy Dindy” account for fun or spontaneous spending. This term comes from my grandmother, who would send $25 checks each year on my birthday for “frindy dindy” spending.
Every budget should include some Frindy Dindy money, just as every diet needs a cheat day. Deprivation leads to budget abandonment, so it's crucial to allow for flexibility to sustain your long term goals.
How to make your Frindy Dindy account
The first step is to ensure your regular monthly expenses are covered and you’ve automated any transfers to savings. While I do believe everyone deserves Frindy Dindy money, you must first be able to cover your necessary expenses and be able to contribute to your long term savings goals (emergency fund & retirement). Once that’s set, decide how much you want to allocate for Frindy Dindy spending. This can be as little as $20 or as much as several hundred, depending on your budget and lifestyle preferences.
You have two effective options for incorporating Frindy Dindy spending into your budget:
Line Item in Your Budget:
This method involves listing a specific amount for Frindy Dindy after your fixed costs, like rent and utilities. By doing this, you know exactly how much you can spend each month on fun activities. It’s a fantastic option if you enjoy spontaneity, whether that’s catching a movie, grabbing a beer at a local brewery, or indulging in a taco night with friends.
Separate Account:
Alternatively, you can allocate a set amount to a separate account each month (which you can automate). This approach allows for flexibility; you may not use it every month, but it can accumulate for larger splurges. This is particularly beneficial if your Frindy Dindy expenses tend to be on the higher end—like taking a weekend getaway every couple of months or treating yourself to high-quality products.
Just a quick caution: it’s important not to treat your Frindy Dindy account as another regular savings account. Your savings are meant for long-term goals, while Frindy Dindy funds should be spent on joyful experiences and treats that enhance your life. Aim to use this money within 2-3 months—don’t let it sit! Embrace the fun and make those experiences happen!
The best part - spending your money!
My favorite part about Frindy Dindy money is that you’re supposed to spend it!
I used to have a scarcity mindset when it came to money, always afraid to spend it in case of an emergency. The turning point for me was embracing Frindy Dindy spending. Instead of fearing my spending, I began actively seeking opportunities to enjoy my money. I stopped feeling guilty and started treating myself—whether it was buying a beer at the summer festival, trying new restaurants, or finally splurging on name-brand clothing (you know, the kind you missed out on if you grew up wearing off-brand Uggs!). This shift helped me enjoy life more without the constant worry.
My first recommendation is to plan for fun! Whether you enjoy dining out, attending concerts, or getting a massage each month, schedule those activities. Have a monthly date with your spouse (or your masseuse)! At the same time, stay flexible. Your account is there to support spontaneous opportunities, so if something fun comes up, you have the funds ready to use. Don’t feel guilty about enjoying yourself!
Final Thoughts
If you struggle with enjoying your money, a Frindy Dindy account is the perfect solution! This account is designed to help you strike a balance between enjoying life and maintaining financial responsibility.
By allocating a specific amount of money for fun activities, you create a dedicated space in your budget for enjoyment without guilt. This encourages you to be spontaneous—whether that means grabbing drinks with friends, trying out a new restaurant, or going to a concert. Knowing you have this money set aside allows you to embrace these opportunities without worrying about derailing your overall budget.
Moreover, having a Frindy Dindy account helps shift your mindset from scarcity to abundance. Instead of viewing spending as something to be avoided, you can see it as a reward for your hard work and planning. It empowers you to prioritize joy and experiences, all while keeping your finances in check. Ultimately, this approach leads to a healthier relationship with money, where you can enjoy the present without compromising your future financial goals.
Your life may not be perfect, but it is imperfectly yours. The only way to live it is your way.
