What is a ‘Fun Fund’? Fun fund means have a specific amount of money for having fun activities or doing things you like the most, like travelling, rafting or maybe just going out for a movie. A good ‘fun fund’ can be a way to be spontaneous as well. Too often, we get caught up in planning where every dollar goes. When you splurge, it’s too easy to feel guilty.
What Can You Use for a Fun Fund? There are lots of ways to build your own fun fund. One good way is to just keep the money in a high-yield saving account where you put a certain amount of money each month to build your fun fund and then you can withdraw money when you think you are ready for having fun.
If you create a budget, the fun fund is an outside item — something you tap beyond your regular budgeting for eating out or your short-term vacation savings goal.
Another idea for your fun fund is to build it up using income-type investments. Build your fun fund by holding it in a low-cost brokerage, and then adding to it regularly. Choose income investments like dividend stocks and bonds for your fun fund. When you receive income from those investments, reinvest it.
Your investment fun fund can grow at a more rapid pace (but you have to watch out for losses, too, since that is a risk) and provide you with additional abilities to splurge. Whether you want to use your fund for hobbies, or just for the occasional fun activity outside of your spending plan, a fun fund can be a great way to go. If you have a big enough fun fund then you can draw your fund for entertainment, travel and for anything you want to enjoy.
For more about Adam Ginsberg resources like the Secrets of an Auction Millionaire or Success with Adam by visiting the Adam Ginsberg’s Official blog. You can also listen to the testimonials of satisfied customers.