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When I was a child, I used to get the equivalent of $25 in allowance each month. At ten years old - for me at least - this was a goldmine. Upon receipt, I used to immediately start planning how this newfound wealth was going to be spent. Was it going to be a movie with friends this weekend? Or a new video game? At age 10, these were significant life-altering decisions.

I have since come a long way both in terms of income and what I consider to be life-altering decisions. Yet, I always missed the simple pleasure that came with relishing how unencumbered money was going to spent - no matter how small the value.

So a few years ago, I decided to make a change. I started giving myself an allowance again. Nothing big - only $25 a paycheck. Two paychecks a month, and I had $50 to use as I saw fit. Some months I spent it (I can’t even remember on what, but it was probably something silly). Other months I actually plunked it into my online savings account. And one month I indulged myself in impulse buys (shameful, I know). Yet, the best part was that for once, there was no strategy. No method to the madness. No stress associated with feeling compelled to save every penny for retirement. Just the simple pleasure that came with deciding the fate of those $25.

Unsurprisingly, I found this to be an emotionally healthy and rewarding exercise as well. Having programmed myself to “earn, spend less, save more” and to think in financial categories and buckets all the time made getting back the freedom to decide what I do with a mere $25 absolutely refreshing. Even though I was saving at a healthy clip, I hadn’t had this sense of fulfillment in years.

Consider using this strategy yourself. If $25 is too much for your paycheck to bear, just take an allowance of $10. The only rule is to treat it as an allowance - and for a couple of times each month to let the 10 year old in you take over again.

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