Your friends can have a direct influence on how you spend your money. It can be hard to have a big night out without spending up big on drinks, dinner, movie or cab fares. Especially if this has already become a habit.
But there are ways to enjoy being with friends, have a good night and still have some money left over.
You don’t need to give up your social life to be frugal. Here are five simple ideas to start you thinking.
1. Suggest something different
You don’t always need to spend a lot of money when catching up with friends. Decide on a budget together for your night out, then only take this amount with you – and no credit cards. Or try suggesting a different activity where you can be with your friends and spend less than you normally would. Do some research and find a free event around town.
2. Be the host
Rather than going out to a club or bar and spending a small fortune on your tipple of choice, invite you friends over to your house and try a pot luck dinner. Everyone can bring a dish — or even a bottle of wine for a cheese and wine tasting party. You’ll be able to hear each other speak over your favourite tunes and nobody needs to know that you are trying to save money.
3. Take up a new hobby
There are plenty of hobbies where you can spend time with existing friends – or make new friends – and not spend a bundle. You could even pick up a new skill or develop a latent talent. You could join a sporting club, do an art class or a cooking class, or even learn how to restore old furniture to sell online. Discover something new to take pleasure in and you could get a new sense of wellbeing.
4. Have a movie night at home
Invite your friends, make your own popcorn then dim the lights to watch that new release movie from your local video store that you’ve been hanging out to watch. You can lie on your comfy sofa and you get to decide when to have intermission.
5. Add new friends to the mix
If your attempts to spend less while in the company of your friends fail, you don’t need to give up your friends. Just spend a little less time with them and add some new ones to the mix – preferably ones who share your financial values. You’ll see that it is possible to have a good night out without going broke.
Moneylogue 