A tip for your ‘Play’ account

While I was out window shopping today, I saw many shopping malls having very attractive sales on all items, including toys.  There were many great deals everywhere.  Although I did not need to buy anything today, it dawned on me that that it was not always necessary to spend every cent in my ‘Play’ account every month. 

It may be tempting to spend impulsively each month when I know I still have some funds in my ‘Play’ account.  However if there is nothing I want to buy this month, I can roll over any remaining ‘Play’ funds to the next month and so on.  If I ever chance upon a fantastic sale on the toys or other fun things that I desire, I will likely to have sufficient funds to sponsor them by then.

Therefore if you are keeping a ‘Play’ account like I do, you can treat it like a mini savings account to roll some funds over to the subsequent months.  Although we were encouraged to spend all our ‘Play’ funds each month at the Wealth Creation seminar that I learnt from, I find that it is better to save up some ‘emergency’ funds in the ‘Play’ account each month.  This is so that you can take advantage of sales events that happen to sell the items you had been eyeing for a while. 

It is also better to always use your available ‘Play’ funds than to buy on ‘overdraft’.  There is a high risk that the overdraft in your ‘Play’ account will not be easily ‘repaid’ and you would end up feeling deprived of ‘Play’ funds in the following months.  That by then, is called a debt which you owe your ‘Play’ account.  When this happens, you either have to cut down on your necessities to pay back your ‘Play’ account; or you just have to spend much lesser on fun things in the coming months until your ‘Play’ account debts has been settled.  Either way, it messes up your money management and accounts. 

Hence, always spend within your means and you will enjoy your toy collecting hobby a lot more!