Rewarding our Frugality
We are fortunate in our finances in that we usually finish each of our personal financial years (which for us run Feb 1st to Jan 31st) with some kind of surplus in our bank account.
This hasn’t always been the case. In fact, a little over 3 years ago we were basically living BEYOND our means, spending around $3000 a year MORE than we could really afford to.
It was at this point that we decided it was time to separate our finances from the farm a little and work on tracking our spending and living more WITHIN our means (and perhaps even a little under them).
Still, it was somewhat of a surprise to us to get to the end of the first year and actually have MONEY in our account. At this point I was mighty glad we’d moved to a separate bank account for our personal drawings as this meant the left over money was OURS and wasn’t simply going to be swallowed up the endless black hole for money that a farm seems to be.
So, we needed to come to some kind of decision. What do we do with this surplus money? Spend it? Save it? Use it toward the mortgage?
I thought it would be a nice incentive toward NOT overspending, if we put at least SOME of any surplus at the end of the year toward something “fun”. Kind of a reward for our efforts throughout the year.
We started off using a split of 60% toward the mortgage, 20% toward our emergency fund and 20% “blow money” (meaning we didn’t have to spend it on something “practical” or “sensible”).
Now that the mortgage is paid and our emergency fund is at a level we feel comfortable with for now, we make decisions at the end of each year based on our needs and plans at the time. But still, at least 20% gets set aside to be deliberately spent as a “reward” for our efforts (which do involve hard work and sacrifice from time to time).
This system works well for us and we feel far from deprived even though we tend to spend less than others in some areas of our budget.
One year we took the kids to the Adelaide Show as our “splurge”. It’s great to be able to say to our children that we “choose” to spend our money in this way and have money available for ………. . We want to show them that frugality is about a lifestyle CHOICE. We are not deprived. We are not “poor”. We just choose to spend (or not spend) our money the way we do.
Yesterday we went on a spending spree. It’s not “normal” for us to spend our “splurge/blow money” quite this early into the next year but we had a plan. It was a plan that made sense to us. The money was sitting there. So we went ahead and instituted it.
We’d been discussing for a while the need to buy a netball ring for Singstar Princess as she’s constantly using our old kids basketball ring to shoot hoops and given she’s interested in starting netball training, we figured a ring would be a useful backyard item. The basketball ring is a plastic adjustable kids one and doesn’t go very high.
We’ve also been talking for a while about how useful a punching bag would be. We’re finding that Leighton is prone to fits of anger and aggression that really need some kind of physical outlet (that doesn’t include throwing a pillow at the light and snapping the bulb off). Being able to let off steam would also be helpful for me and I know Farmboy will make use of it as well.
I noticed Sports Power were advertising both of these items and suggested to Farmboy that we *could* use our 2007 “splurge” money and just go out and buy them.
It still felt strange to walk into Sports Power and just spend $500 in the space of around 5 minutes. Then again, it also felt GOOD to know that we were spending money we HAD.
This is the netball ring. The “normal” me would have gone for the $20 ring that you need to attach to a carport or similar. The “splurge” here was buying a free standing ring that is easily adjustable in height and movable depending on where it suits us to have it. We also bought a netball for her.
The grin on her face last night when we told her what we’d bought was priceless. If it got any wider she would have lost half her lips as they fell off her face. Despite the hot day she had to have a go when she got home from school today. 
And this is the punching bag set-up. It’s a bit flash for our usual “buy the cheapest you can find” style. Given at least 3 of us plan to use it on a regular basis, we felt it was a worthwhile investment.
Farmboy admitted to me on the way home that he has always wanted to own a punching bag. He’s a practical kind of guy and it would never have ocurred to him to go out and buy a set-up like this. It was only that I suggested we buy it with our surplus “blow” money that he’d even contemplate it. I was rapt when he said that because he really IS bad at spending money on himself. It’s nice to think we’ve bought something that will make him smile.
Not to be missed out, Trailer Boy (note: new name for “The Bomb”) got a new yellow football. His first EVER real football. Last season during football training he was asking for a yellow football. So now he has one. And it is definitely his most prized possession. He doesn’t actually attend training yet but likes to go along and play with the other younger boys that are there.
Spoilt? My kids? Yeah….I know. 
All that didn’t quite add up to $500. Farmboy also bought himself a weights set. He’s noticed since he broke his collarbone a couple of years ago that he no longer has much strength in that arm so he wants to work on rebuilding some of that.
Being frugal is boring? Not in our family.
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- Reducing the Grocery Budget - Part Three
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Spoilt? Your kids? NO WAY. Much loved with their interests being developed is more like it.
My older son once bought a punching bag and attached it to a screw in the ceiling of his bedroom. First punch…down came half the ceiling. I can’t begin to repeat the words his landlord said. Took M almost a year to pay off the repairs. The landlord finally agreed to let him pay it off by extra money on rent days.
The one you’ve bought looks like a much better option. I didn’t know you could get free standing ones.
I think about doing a little exercise now and again. Then I shake my head and keep reading……
I definitely agree on having some reward money for reaching your budget targets and it looks like yours was well spent! I used to box/kickbox a few years ago and have to admit that I’m drooling a bit over that freestanding bag, lol.
Fantastic purchases there! Something that will last, give enjoyment and exercise!
I would have bought shoes…… LMAO
Why “Trailer Boy”?
buying equipment ( and thats what you got - not toys) that encourage their interests, aide their development and exercise their bodies is not spoiling your kids!!
Those are fantastic purchases. I was eyeing off that netball ring myself the other week for CJ. Crap. Netball enrolments are next week. Thanks for reminding me!
Ok, perhaps this just my Canadian ignorance here, but what on earth is Netball? it’s different than tetherball? correct? And not exactly basketball, but has a basketball type hoop? I’m stumped as to what it is.
Though punching bags I am familiar with …. a friend of mine, for her birthday, got punching bag from her husband and she was over the moon. She’s always wanted one to use as a source of venting. a certain university professor was driving her right round the bend.
You could always use some of your extra funds to take the kids to the ocean. Though I suppose that would be covered under the big caravan trip you have lined up.
Great purchases Lightening. And if nothing else you are teaching your kids about delayed gratification - that they can’t have what they want right then, they have to wait. And the waiting makes it sweeter once you get what you were waiting for. No way your kids are spoilt.
And Maggie, Netball is different to Basketball, but similar, if that makes sense. There are 7 players on each team, and you are only allowed to hold the ball for 3 seconds nor move your feet once you have the ball (so no dribbling). Here is a link to Netball Australia http://www.netball.asn.au/extra.asp?id=782&OrgID=1 (hope you don’t mind the link Lightening, feel free to delete
) There is more information there about the game.
Lightening - well done for being able to have a splurge. I’m sure the kids are thrilled. Don’t forget about yourself, though. Even though I’m sure seeing all the happy facing gives you a lot of satisfaction….
River - oh dear!!! That’s not so good. You’re making me feel MUCH better about spending the extra money on the stand. It did end up being a good deal though. Before Christmas a stand by itself was $300 and this cost us $350 WITH the punching bag, speedball and gloves.
Lauren - pity you’re not a bit closer. I could do with some lessons on how to use the thing. LOL. Although I had a go last night and did better than DH with the speedball. Yah me!!!! LOL.
Kelley - no surprises there!
Well, I did look at shoes. I’d like some boots with a heel. Nothing too high because I have FAT calves. But didn’t see anything I really liked. I’ve been looking around for some PINK shoes too but nothing has grabbed me so far. Which is fine. I guess one day it will. Maybe…. 
Stuffy - I have changed my “about” page to explain and there’s a brief explanation in my sidebar but basically it’s because he LOVES trailers - anything that gets towed behind a machine really (so trains, tractors with cultivators or bailers behind them etc).
Bettina - thanks
I think the netball is permanently glued to Singstar Princesses hands. Every time I see her she’s carrying it around and throwing it. Right now she’s outside throwing it into the ring.
Maggie - I’m not familiar with tetherball so can’t really compare it but Gemisht has it covered. It’s sort of like basketball but really completely different. LOL. You pass the ball between players rather than bouncing it. And you only score 1 point per goal. As for the ocean - we’re really lucky here. Our kids get a holiday by the sea every year. We live about half an hour away and Farmboys parents own a shack very close (walking distance) to the sea/ocean. But we’ll get to see some wonderful beaches on our trip too (hopefully with less seaweed than our nearest beach seems to have).
Gemisht - thanks for digging out that link. You are my own personal google machine!
Well our kids certainly don’t go without, that’s for sure! But yes, we do try to teach them about delayed gratification. They do have to wait longer than their peers for *most* items.
Meg - you know that’s one of the reasons we decided to have a planned “splurge”. It is easy to overdo frugality and never spend money just for “fun”. I guess I’m thinking of my personal training as being something for “me” although that is coming from money I saved a while ago. I do find it easier to spend on the rest of the family rather than myself. Although I did warn farmboy just the other night that I was about to become a more “expensive” wife. He was praising the fact that I’m a cheap wife (in the monetary sense of course) after visiting friends who have slightly larger spending habits than we do. Mind you, he would never stop me spending money on myself and is very behind my desire to buy a few more shoes and handbags (if I ever actually follow through on the idea). I do think it’s an important part of “finding myself”. I have a post brewing in the back of mind about that very thing. One day it will break free and end up on the blog.
Thank you for the links on the netball. I had never heard of it. Though I smiled while reading the history that it mentioned that a fellow Canuck invented Basketball
Tetherball, from what I understand, is a ball attached to a string/rope/bunji type material which is attached to a post. Not sure how points are scored but apparently it’s popular in the UK.
Give me curling any day of the week. Now there’s a game I understand.
What about cultural based activities? Perhaps a weekend to the city to visit a museum or art gallery? Or would that not fly with kids?
What fantastic purchases! And that must be a great feeling that your hard work throughout the year can be rewarded.
And not a computer game/console game in sight. That was so pleasing to see.
Kids actually getting out into the fresh air and doing some exercise.
Yay Jodi! Not only do I think this is a well-deserved reward for your family, I also think these type of purchases are investments in health, fitness, social and emotional development.
Maggie - it’s funny how different sports are between countries isn’t it.
Anja - yeah, we do try to limit the computer based stuff and focus on more active stuff where we can. It’s all about balance I guess. Leighton is pretty heavily into his sport. We’re hoping Singstar Princess will follow his lead. At least a little bit.
Emma - thanks. That’s what we’re hoping.