Today we have a post from Alice from Earning My Two Cents.
So you’re trying to stick to your budget, save money, and get out of debt. You are trying to be thoughtful and frugal about your purchases and not frivolous, so restaurants, movie theaters, and vacations are not in the budget. But what do you do about your social life?
So many social gatherings involve a cost, often for a restaurant meal, ticket price, or another cost. Living on a tight budget doesn’t mean that you can’t spend time with friends just to save money. There are plenty of fun and frugal ways to have a social life on a budget.
Tell Your Friends You’re on a Budget
Being honest with your friends and cluing them into your financial situation, even in a very limited way, can help you immensely. You don’t need to reveal how in debt you are or what your monthly budget is, but saying that you are trying to stick to your budget and save money will let your friends know that you aren’t bailing on the group weekend vacation or dinner at a pricey restaurant because you don’t want to spend time with them, but because you can’t afford it. Then suggest a cheaper alternative outing instead. This lets your friends know you still want to spend time with them but that you would prefer something less expensive. Sometimes you will have to miss out on an outing, but you don’t have to miss out on your friendships. And you never know, you may have a friend confess that they too are struggling with their finances and are glad you suggested a more cost-effective option.
Have a Potluck Rather Than Go to a Restaurant
Maybe you always have a dinner at a restaurant for your friends’ birthdays or just tend to get together over sushi with another friend. A cheaper alternative to a restaurant meal is to invite people over to a potluck. Ask each friend or couple to make a side dish or dessert and you can provide the main dish. This is a great way to socialize with only spending the cost it takes to cook your dish. You can rotate the potluck venue among your friend’s homes and enjoy some home cooking and friendly camaraderie!
Meet for Coffee or Drinks Instead of a Meal
If you are looking to catch up with an old friend and want to go out, suggest going out for coffee or drinks rather than a full meal. A cigar bar is also a good option if you smoke. This saves you money and still allows you to spend time out with friends and have a guys’ night or girls’ night for less than $20.
Work Out Together
Going for a run together allows you to spend time together while helping you both stay accountable to your fitness goals. It’s free to run outdoors, you can be a guest at each other’s gyms, drop in on yoga or Zumba class for a small fee, or go for a swim at the public pool. Playing football, tennis, fishing, soccer, basketball and other outdoor sports are free and fun. If you like to golf but can’t afford the greens fees, get a group of friends together and hit the driving range for way less cash.
Look for Free Activities
Keep an eye out for local activities like parades, farmer’s markets, festivals, and outdoor movies. These are often free or very inexpensive and are perfect for friends, family, or dates. Get together with other parent friends, bring the kiddos, and watch a children’s puppet show. Get the girls together to watch a classic outdoor movie while sharing wine and cheese. Go to the local planetarium and check out Jupiter. In many cities the zoo and museums are free. These fun and frugal events are a great break from the routine and are a break on your wallet.
Remember, just because you are broke doesn’t mean you have to miss out on life. You can still have fun and maintain friendships regardless of your financial status.
Alice writes about personal finance and making money online at Earning My Two Cents.
____________
Photo by Luke Jones
PFUtopia says
This reminds me of an article I posted a while back titled “Are Frugal People Loners?” It seems the consensus feedback was that you should tell your social circle you’re on a budget or saving. In doing so, you’ll likely find many who have similar goals and restrictions. For those who have different, more lavish spending habits you’d have to either be creative or limit your social interactions. The ideas provided here are good ones to accomplish those means.
Holly at ClubThrifty says
These are all good tips! We usually make dinner with friends so that we don’t have to pay to go out to eat. It’s so expensive!
Beachbudget says
I actually do all of those things! I’m lucky I play a sport (beach volleyball) which is easily accessible, free, gives me time to be social with my friends, and is a good workout too.
Raquel@Practical Cents says
Definitely letting others know you are on a budget is very helpful. Most people will understand and may offer a cheaper way to spend time together such as the ones suggested here.
Andrew LivingRichCheaply says
I like the potluck idea. I have friends who like to go to certain restaurants which I find overpriced. I’d prefer to have a potluck…not just for the savings but it’s more relaxed. No one is trying to rush you out. And free activities are always great.
blonde_finance says
I am a big fan of just telling your friends you are on a budget. The odds are they are too or they should be and then you can all work collaboratively to find things to do for free or cheap.
Jason @ The Butler Journal says
Those are some great tips. Some of my friends don’t understand that I’m paying off debt so I have dodge phone calls from time to time.
ImpersonalFinance says
Great advice. It can be hard to have a social life on a budget sometimes, but if you’re open about what you’re doing and what is important to you at the time, I’ve found people are usually pretty receptive to it and cool about it.
brokeandbeau says
Working out with friends is so much fun. Now that we have the bikeshare program in NYC, it makes for a great afternoon activity.
FrugalRules says
We do a lot of these things as well, especially the potlucks. Having little kids it can get expensive when you add in the sitter on top of going out. It saves us a good chunk of money and can generally eat much healthier than by going out.
ShannonRyan says
Great tips! And you’re absolutely right that sharing you are on a budget and suggesting some low-cost alternatives, may actually be great news to some of your friends. We often feel like we need to “keep up” and there is a good chance that one of your friends will appreciate some low/no cost outings. You true friends will remain your friends regardless if you have to pass on an outing or two.
No Nonsense Landlord says
Lots of great ideas. I have had friends that wanted to learn how to do certain maintenance to their own home. I invited them to a apartment remodel to teach them how to do things like install a laminate floor, etc.
Lunch is better than dinner, happy hour is OK too. Just coffee is great,
SavvyScot1 says
I spent the last year of college saving for a round the world trip so all my friends knew I was on a tight social budget, we would meet at my place for drinks and do student discount nights at the movies or concerts, most of them weren’t much richer so it all worked out great.
SixFiguresUnder says
It actually gets even easier when you have kids! Most of my social life involves play dates with my other mom friends. It’s as much fun for me as it is for my kids. The kids play together great and the moms have time to relax and chat. Totally free and freeing :)
Getting together on weekends with other families is the same. We’ll do pot luck or take turns hosting. The kids play and the adults play. Everyone is happy and it doesn’t cost us anything!
Alice @ Earning My Two Cents says
Thanks everybody! Glad you liked my post! It’s way better to just be honest about our financial situations rather than stress about how to pay for enjoying time with friends. We all have financial problems, let’s just be honest about it!
Ugifter says
Working out together is a great idea, especially because it also gives you the accountability for working out! I love that suggestion.
Alice @ Earning My Two Cents says
Ugifter Indeed! There’s nothing better than an accountability partner
LisaVsTheLoans says
Potlucks are such a great way to minimize the cost of a party. It also helps add variety to the food table!