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How to make a cannabis budget (and stick to it)

Published Apr 21, 2022 09:00 a.m. ET
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The average cost of cannabis products has fallen considerably over these last 2 years, but the price is still too much to bear for some consumers. Without a plan in mind, it’s too easy to burn through too much cannabis, and when you don’t have a clear picture when it comes to financial constraints, it’s impossible to know for certain whether or not you’ll have enough to get through until payday. That’s where it’s helpful to develop a cannabis budget that will satisfy both your wants and needs.

With that in mind, we’d like to introduce you to our guide on how to make a budget for cannabis.

Start with a household budget

The very first thing every enthusiast should do is chalk up a household budget, which may include everything from housing and utility expenses to food and transportation costs per month. If you’ve got a vehicle to maintain, that average should be added`, and pets cost a fair amount to feed so be sure to include them in the equation. Phone bills, insurance, and every other recurring cost you face should be tallied up and then subtracted from your monthly income.

What is left is the amount of money you have to spend on extra things, such as dinners out, entertainment, and anything else you like to do.

Break down available leftover budget

This is where the heavy-duty planning comes in because your cannabis budget may need to fluctuate to accommodate new expenses that don’t necessarily come up every month. Hoping to attend a concert next week? Then now is the time to figure out exactly how much that experience will cost. Want to take a vacation or make some other big purchase? These things need to be thoroughly considered too. Savings should also be a priority, even if it’s not a lot, and what’s left may or may not be your total monthly cannabis budget.

Figure out how much you can buy

Nuvee

Now that you have an approximate amount of money that is available to be spent on cannabis, it’s time to figure out how far it will go versus how much you’d like to buy to be comfortable. If you go through a quarter each week, then add that cost up for the month. If you like to indulge in a few cannabis drinks over the weekend, then be sure to include that too. In some cases, the total falls within the allowable budget, but in others, expectations may need to be tapered to stay on goal.

How to stick to it

If your free cash flow is a little lighter than you’d hoped, or you’ve found it hard to keep within what you’d like to perceive as your average, leading to many weeks of running out early, then it helps to have a clear plan that outlines a specifically allotted amount of cannabis for each day. Medication calendars can come in really handy for this, as they make it easy to divide a stash into perfectly measured portions, so you can keep track of where you’re at where both your budget and goals are concerned.

Make a commitment to stay within the allotted portions, and you’ll never go without cannabis again.

Other ways to save money

Budgets can be difficult to create and even harder to stick to, which is why it helps to learn how to save money on the products you love. It might take some hunting for the best deals, but they’re out there if you know where to look.

  • Take advantage of email sign-up benefits and coupons.
  • Become a member – for members only discounts
  • Purchase cannabis products in bulk whenever possible
  • Look for discounts that apply to certain groups (i.e. seniors, students, medical patients)
  • Shop sales
Cannabis discounts Take saving money to a whole new level
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