You and your friends may have shared similar economic situations in the past, but (un)employment changes a lot of things. Differences in financial standings and spending habits can destroy friendships, especially if these things result to unexpected changes in lifestyles or feelings of resentment. But with a proper approach, you’ll be able to keep your friends and not lose sight of your financial goals and obligations. Investopedia suggests some tips:
1. Don’t Assume You Can Afford It Too
Most people, even friends, don’t volunteer information on how much they earn. It doesn’t mean that just because you can afford the same things back then, it follows that you can still afford the same things now.
2. Be Honest
If you can’t afford it, say it. True and good friends will always understand.
3. Suggest Alternatives
Suggesting alternatives is better than turning an invitation down outright. If your friends invite you to dine in a restaurant that you can’t afford, suggest another restaurant that serves good food without spending too much. You can even suggest a potluck instead. In that way, they’ll know you still want to spend time with them without the extra cost.
4. Plan the Activity
Rather than steering your friends’ plans in different directions, you can plan an inexpensive bonding activity instead. How about a movie night in your place, a Frisbee game, or even museum visits? Quality time with friends doesn’t have to cost much.
5. Spend on What You Want
You should be the one to decide how your money is spent. Don’t go on a luxury cruise just because you’re friends are doing it. If you need to pay the bills, let them know that you’re rejecting the invitation not because you dislike their company, but because you have priority expenses to pay.
6. Save So You Can Spend
There will be invitations that will be hard to resist, like trips abroad or luxury getaways. No one is stopping you to save for these things ahead of time. Sometimes, spending a bit more is not so bad especially if you’ll value the memories for the years to come.
7. Minimize the Cost
Think of ways to minimize your expenses. You can eat before going to a fancy restaurant and order something inexpensive while with friends. Or while you’re out in a bar, order beer instead of pricey cocktails.
Friendship isn’t supposed to be costly. It isn’t supposed to bankrupt you. True and good friends will understand. And it shouldn’t as impossible to stick to your budget and keep your friends at the same time.
