Post date: Jan 5, 2016 5:07:51 PM
MSS Emma was having a closure conversation the other day with a Big, and when asked what he learned from being a Big, the volunteer joked “man, kids are a blast, but boy can they be expensive!”
Having a Little can definitely be expensive, but it doesn't have to be! Setting a budget and including your Little in the process is not only a good way to save money, but it also teaches your Little what it means to be financially responsible.
Steps to creating a Match Budget:
Reflect on what you’re spending as a match, and ask yourself the following questions: How much am I comfortable spending on an outing? Would I like to incorporate more free/low cost outings? Would I like to alternate free/low-cost outings with outings that are costlier?
You can set a firm number for outings. For example, if you see your little twice a month, there are 24 outings in a year. Then think about what you’d like to spend. I.e. I plan on having a $25 maximum on 10/24 outings with my little. 10/24 outings will be free or low-cost. The other 4 outings we can spend more than $25
Generate ideas with your little. Discuss your budget with them and include them in the process of planning the outings.
Final things to consider:
Think about free things in the city you would like to try together.
Also consider how seasons might affect spending (although there are always free things to do in Chicago, it’s easier to spend an outing at the beach or at the park in the summer time).
Think about outings that might be more expensive, but are things you’re dying to try together. Then consider when these outings should take place. Perhaps save the expensive outing for a celebration (after your match anniversary, or near your Little’s birthday).
Finally, if you and your little have been dying to try something that breaks your budget as a Big, and you guys have been matched for over a year, apply for the Match Enrichment Fund. Matches can apply for grants of up to $500 to participate in an activity. Check out our Match Enrichment Fund page, and email your MSS for an application and more details.
Real Match Budgeting Example:
BB Paul and LB Justin have a strict budget of $10 per outing. LB Justin can either choose to spend his $10 the day of the outing (on Chipotle, or a movie ticket), or “bank it” and save the money for a larger more expensive outing (a trip to Dave and Buster’s). Recently, LB Justin bet his $10 for the day on a game of mini-golf while on an outing with BB Paul. Unfortunately, LB Justin lost the game, and chose to go to the library for his next outing since their next outing had to be free!