If you do not socialise much, this might not be a subject to worry about – but learning the art of reducing money while with friends is a severe task for extrovert personalities. Several times you will find yourself in a sticky situation with friends, for instance, you may have to foot the bill outright at a restaurant, or you may have to lend them. It isn’t straightforward to deal with these situations. If you yield in, you will fall short of cash to meet your regular expenses, and if you deny, it seems impertinent. It looks like you are stuck between a devil and a deep blue sea.
It is not unusual to get carried away when you are with your friends, but your budget cannot afford to accept a laidback attitude. You do not need to stop hanging with friends, but you should not ignore the fact that you are on a budget. Whether you are at a party or in a shopping mall, you should use your credit card sensibly. Here is how you can save your money while with friends.
Prefer to go Dutch and do not get carried away
You all have decided to gather at a restaurant to raise a toast, try to keep it frugal. Make sure that no single person is about to foot the bill outright. Split the cost among all members equally. However, there are still chances to go beyond your affordability if your friends order expensive food. When you are caught in this situation, use this polite method to prevent your money from draining.
- Do not hesitate to inform your friends that you are on a budget. It is not surprising if you order food that suits your budget.
- Agree upon splitting the cost ahead of time.
- You can say no if you think you are not prepared to spend money.
Say no if you cannot
Another awkward situation is your friends ask for monetary help. It is quite challenging to lend money when you are already in debt. However, you fear that it will break your invaluable friendship. It takes a lot of courage to deny lending money when your friend needs your help courteously. They may be unemployed, or a medical expense would have popped up. Here is what you can do:
- Say no in plain terms. Tell them you do not believe in lending.
- You can say that you need money as debt is up.
- You can suggest applying for doorstep loans with no credit checks.
Find affordable activities
When you are alone, you will do what you enjoy, but you cannot foist your choice when you are with your friends. You may not address your financial situation directly, and if you keep talking about it monotonously and all the time, it will drive a wedge.
The best way to avoid conflicts due to money, try to be grounded in activities that give pleasure to all of you. Hark back to your past meeting and see what you enjoyed the most. There is nothing wrong to follow that trend, and it will keep everyone on equal footing.
If you have never been in the same place financially, the key is to find regular activities that are affordable for all of you. There is no point to join another person to do what you do not like.
Do not let go money that you have lent
When you all are together, anyone of you may behave mischievously. They may have forgotten their wallet at home or bought something more expensive than they could afford. Of course, they will turn to you to pay on behalf of them. Friends do not mind sharing expenses of each other, but you should not let go of it if you are on a budget. Here is how you can deal with this situation smartly.
- Tell your situation. Let friends know why you need money.
- Provide them with a convenient option to pay you back.
It is not unusual you spend more than your budget when you hang with your friends, but you can prevent yourself from going way off your affordability by following tips as mentioned above.