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There is a way to enjoy both a balanced budget and a few fun liabilities! Structure your budget so that you buy assets. Assets become property you own, pay for a reoccurring expense, and save you money that can be used for those fun liabilities. Household tools are examples of liabilities. If I go buy the tools I need to change my own oil I will have to invest money up front. However, now that I can change the oil on my own I don’t have to pay the garage to do it anymore. Now, I can do it for less money than the garage can. The tools are my property and I generate savings each time I change the oil. That money will allow me to afford a fun zoo membership that my family can enjoy!
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A common dilemma of being a responsible manager
of money is staying out of debt and still enjoying the fun things in
life. Life is full of temptations to spend money and have fun. The
problem is that fun things are typically liabilities. They provide
very short term enjoyment and long term cost and consequences. Fun
liabilities, like your annual zoo membership, don’t bring income into
the household but they make life more enjoyable.