Something that motivated me to write this blog is that I follow a bunch of other blogs about personal finance, deals, budgeting, etc., and thought it would be fun to write about a few and some of my own thoughts. There’s a great article on bargain babe about staying on budget despite “spendy” friends. This one hits close to home. Why?
I’m blessed to have a great job. It pays great. And only my wife and I stand in the way of us excelling financially. We both have our strengths and weaknesses. But fortunately we both are generally frugal. She’s generally not afraid to clip a coupon. And I’m not afraid to eat canned tuna every day to accomplish a financial goal.
But there are challenges. First, most of my friends work in the same industry as me and are paid well. Not all of them have the same outlook on money. So it is sometimes tough to stay on budget when they all want to go out to dinner to hang out or order take-out instead of cooking a pound of pasta and spending time together at one of our houses. Or, we could go for a walk around the city we live in – there are plenty of things to see and do.
So check out the article . Are you one of these types? Which one? How about your friends?
Her advice is sound. My take is pretty much the same – the best defense is a good offense. Let them know you’re on a budget. Tell your friends how much you have to spend and that you’re willing to do the leg work to find something within your budget to hang out. Tell them why you’re on a budget. Are you paying of credit card debt? Student loan debt? Saving for a house? Putting money into a 529?
Changing the outlook of hanging out with your friends from “hanging out together” doing “nothing” or “shopping” or doing “whatever” to spending time together doing a specific activity that is within your budget and allows you to accomplish your goals is one way to help avoid the “Spendy Friendy” derailing your budget. Any other advice?
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