Video instructions and help with filling out and completing Form 8453 S Allowance

Instructions and Help about Form 8453 S Allowance

Hello and welcome back it's Amanda Christiansen with Utah State University Extension today talking one of my absolute favorite personal finance tips today's quick tip is all about a personal allowance a personal allowance is a set amount of money that you allocate every month to spend on the extras the $5 DVD ran at Walmart yeah you know who you are or the extra treat at the movies that wasn't that wasn't planned on ok so these are the things that you spend your personal allowance on the extras every month I know we would all like to be at the point in our lives when we can buy what we want when we want regardless of our budget because we can afford that if that's not you if we're still working up to that as I am then remember the personal allowance doesn't have to be a ton of money every month it can be $5 it could be a hundred dollars the kids that you've predetermined what you can feasibly spend out of your budget and still meet your expenses every month to be successful with the personal allowance every month you must hold yourself to the amount you predetermined you and spend I recommend taking this amount out in cash every month if it's not too much money to be carrying around in your wallet when it's gone it's gone and you still have the flexibility within your budget to buy the things that you want to buy the personal allowance is one of my favorite financial tips because I think it helped us avoid financial conflict whether that's conflict with a spouse overspending whether that's conflict with a parent but that's conflict with ourselves meaning we have the opportunity to hold ourselves to be self-disciplined with how we spend our money taking that amount out in cash when it's gone it's gone saving that amount from month-to-month to buy something big that we would like all of those things are ways that we can be self disciplined about our money and the personal allowance helps us do that that's it for this quick tip thanks for stopping by I'm and Christensen with Utah State University Extension be sure to check out the description box below ways you could reach out to me on social media and let me know what are some of the quick tip videos you would like to see also leave a comment and let me know if you that establish the personal allowance and how it's working for you I would love to hear from you we'll see you next time bye we love the Air Force we love all they do for our country we just do not love when they fly right over us when we're trying to come get up boys