Retirement Income

Joanita Wibowo

3 ways to save money without sacrificing your social life

3 ways to save money without sacrificing your social life

It’s hard to stay social when you’re trying to curb expenses. However, there are tricks that will allow you to spend some quality time with friends and loved ones without having to feel like you’re throwing money down the drain.

1. Be honest, be positive

You don’t have to make flimsy excuses to avoid going out – be open about your intentions, but frame it positively. Instead of saying “these events are too expensive”, you can tell them, “I’m trying to be really good at saving and staying home these days”. While it may be uncomfortable to say no to invites outright, your friends may turn out to be more supportive to your goals than you expected.

2. Provide alternatives

Fill your social calendar with free or cheap activities. This could be a visit to the new art exhibition in your city, a potluck picnic at the park, a hike by the mountains, a game night at your home, and more. Don’t forget to look out for special promos and discounts on popular websites like Groupon or Scoopon for more affordable options.

3. Put it in the budget

Don’t want to skimp on your bar outings or group classes? It’s time to look at your budget. Once you determine the amount you need to save every month, set aside some of the rest for fun-related expenses. Budgeting allows you to figure out your priorities and stay within the limits. Stick to your allocated budget well – once it’s out, do not extend it any further!