Are Your Friends Keeping You Broke?

Are Your Friends Keeping You Broke?

November 01, 2022

When you are trying to save money for your next major goal or goals it can be difficult to socialize with your friends and loved ones in the same way. They and you may be accustomed to a lifestyle that involves weekly shopping trips, fancy dinners, brunches, going to the movies, etc. All the fun things that can be very costly and not easily maintained when you are trying to save money. 

Let’s get into a few tips for socializing while on a budget.

1. Vocalize your Goals 

First, be open and honest with your friends and loved ones. Explain to them that you are trying to save money and that may mean that you won’t be able to do the same activities that you previously did with them. 

2. Find Alternatives

Suggest other activities that are more cost-effective or even free. These may be going for a hike, doing a potluck meal at someone’s house, meeting for coffee instead of a meal, etc. Suggesting other activities shows that you still want to hang out with them. 

3. Just Say No

Don’t be embarrassed to tell someone that you can’t afford to do the specific activity that you were invited to. When we get embarrassed to say no, sometimes we end up going with the easier option which is simply saying yes. Instead, simply say that at this time that does not align with my budget. The more you get used to saying no the easier it will become, and you will no longer feel embarrassed. 


Learning to say no to fun activities when you are trying to save money can be difficult at first. A few tips to make it easier are: Let your friends and family know why you are saying no ahead of time. Suggest other activities that you can do together, and don’t be embarrassed to say no. 

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