Create An Entertainment (at Home) Budget And The Rest is GravyJanuary 13, 2012
People who entertain at home often will tell you that they love to be around their friends, love to cook and try out new recipes, see it as a way to de-stress after a long workday or week, or love to treat their friends to a good time. People who rarely or never entertain at home will tell you that they are too busy, their home is too small, they suffer from performance anxiety, or they cannot afford to do so.
Entertaining at home does cost money and depending on the style and frequency can add up to some major bucks. But that does not mean you should not do it. Spending time with people you like and who like you has great value. Even without research telling us so, we all know how good we feel after a pleasant evening with friends. So how do you get the benefits of an entertaining life without destroying your savings?
Create an annual entertainment at home budget. An entertainment at home budget is not the same as entertaining at home on a budget, although that is a wise idea; it is a snapshot of how you spend (or want to spend) some of your entertainment dollars. When creating your budget, remember to keep it simple.
Estimate how much you plan to spend for each category. Use a budgeting app to track your spending and improve your estimates.
If you love entertaining at home and it is just one of the things you would never give up for any amount of money, by all means keep doing it. Just do not do it blindly. Take a few minutes every year to create your entertainment at home budget.