They’re your BFFs, but if spending quality time = spending money, how do you keep your bank balance from going bust?
They’re your BFFs, but if spending quality time = spending money, how do you keep your bank balance from going bust?
Your bank balance flashes on the screen and you do a double take to make sure your eyes aren’t playing tricks on you. Is that really all you’re left with? Where did all that money go? Now that you think about it, you did eat at a cafe three days in a row with your girls. And you all got matching tees because it was, “So cute!!” There was also that concert of your bestie’s favourite singer. OK, no, it was definitely that party you guys threw that involved gourmet nosh and an endless supply of alcohol… But friends do things together, you say. Sure, but you don’t have to spend as much as your friends do. Here’s how to strike a balance between your friends and finances.
Tell them
There’s no room to be shy if your finances aren’t looking up, and communication is important, especially to the people who matter. Remember: you don’t have to pay for everyone just because you suggested a new restaurant to try out! And if you’ve gone for a combo while your friends splashed out for a steak, don’t be shy to speak up when they suggest splitting the bill. It would only be fair for you to pay for your own share since you made the economical choice. Money might be a tough subject to broach, but if they’re true friends, they definitely won’t want to be a burden on your finances.
Suggest alternatives
Instead of that fancy brunch with freeflow champagne, you could plan for a trip to the museum (free!) followed by a potluck picnic in a nearby park. It doesn’t have to be expensive tidbits either – food you pick up from the supermarket and throw together can be just as great. Plus, you’ll have a whale of a time prepping together with your chums before savouring your hard work amidst nature. Perfect.
Spend (while you save)
There will always be package deals that involve your besties, so if you’ve been dying to go for a marathon, look out for those that offer a lower registration free for groups. And it’s not just sporting events that offer this – yoga classes, music festival tickets, brow threading sessions, hair treatments, and even fashion stores like Topshop offer discounts when you bring or introduce a friend. Now you get to hang out with your buds and save cash!
Plan for the month
If somebody’s birthday is coming up, or perhaps one of your colleagues is leaving and you’re going to her farewell party, put it all down in a planner so you’ll see the bigger picture and can plan your finances accordingly. However, we know saving money for a future event is easier said than done. Keep yourself going by rewarding yourself to a nice lunch or coffee as a reward every once in awhile for sticking to your budget.
Give and take
But what if you’re really broke? For instance, your BFF may have just broken up with her guy and really wants a night out to vent and take her mind off it. Do you turn her down? Of course not. Being a good friend means being there for her, no matter what, so you shouldn’t ditch her just because you can’t afford to splurge on drinks. What she needs is your emotional support, not your ability to knock down expensive martinis, so opt for soda instead of booze.
