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Definition of Mad money
1. Noun. (idiomatic) A sum of money, often relatively small in amount, kept in reserve to use for impulsive, frivolous purposes. ¹
2. Noun. (idiomatic) A sum of money kept in reserve or to insulate oneself financially in the event of the sudden breakdown of a relationship in which one is economically dependent. ¹
¹ Source: wiktionary.com