When it comes to your social life, all the cutbacks to spending become redundant. It’s hard to say no to nights out and meals at fancy restaurants with friends, but when your funds are low, continuing to throw your wallet into your social life is a bad idea when you are already scrimping on the bare essentials.
Weddings
Weddings can be particularly difficult: obviously you want to be there and support your friend on their big day, but with marriages abroad increasing, can you really afford the travel, days off work, and accommodation? Explain your situation to your friend and express your regret. Well-wishes and modest gifts can go a long way – sure, they will be sad to not have you there, but they will understand if they’re a good pal.
Keep Talking
Discuss money with your friends. Express your financial hopes and goals; that way they will not think you’re just being anti-social when you say you can’t go out for a few drinks. Also, your thrifty ways actually influences your friends’ behaviour too. They will start being more mindful of their spending habits if you are a good example of handling money well. Spending time together is obviously important, but there are many low-cost ways to have a good time.
Free of Charge
Locate an area that’s pleasant to walk in – maybe a path that leads to lakes or ponds and go out for a picnic; it’s more fun than you might think. Your local town may have free events on that would make for an interesting day out, so do some research online. For rainy days, stay at home and play board games, or drinking games with a bottle of something (much cheaper than going out).
Instead of going out to the cinema, have a movie night in with popcorn and beer with your mates. This is a chance to catch up on all those classic films that you’ve missed.
Only Take Cash
Set yourself a budget for nights out and only take cash with you, not your credit card. Going out for drinks? Take enough for a couple of rounds and spend no more.
Slow Down
If there is a weekly social event, like going out for dinner with your friends, try to reduce the frequency you do this to once a month. Not only will this make the event all the more special, but you’ll save so much money. If your friends still want to get together every week, consider setting up a “Come Dine With Me”-style event where you and your friends take it in turns to host dinner at your homes.
Don’t Be Jealous
Don’t wish that you could spend to excess with your friends – let them get on with it and stick by your guns. You should focus more on the relationship you have: are you supporting them and listening to their problems? It’s not a competition, so if your mate buys a new car, ignore it and do what is best for you. Take care of your friends and your bank account.