© Chicken Soup for the Soul Entertainment, Inc. 2021.
All rights reserved.
© Chicken Soup for the Soul Entertainment, Inc. 2021.
All rights reserved.
It’s a quote that has had a lot of longevity because it accurately describes the way the people around you can influence your behavior and your success. It’s even more accurate as it relates to the way you spend your money.
One of the easiest ways to ensure that you spend irresponsibly is to surround yourself with people who spend their money carelessly. Take a look at the friends you spend most of your time with and think about what they spend their money on. Is it clothes, alcohol, and eating out? Nights on the town? Clubbing? Expensive beauty products or sports tickets? It’s okay if that’s the case and it doesn’t mean you need to drop those friends. But it’s also important you think realistically about how keeping up with them and succumbing to their peer pressure impacts your future.
There are a few good strategies to avoid spending peer pressure from friends. One simple one is to be the person who suggests what you guys should do or find fun events to attend. By being proactive and setting up plans, you can ensure that you’re using a Groupon gift or attending a free concert in the park instead of spending hundreds of dollars on a VIP ticket.
Another good way to avoid succumbing to peer pressure is to be a step ahead when your friends are planning to go out. Say your high-rolling group of friends wants to eat at an expensive restaurant on a Friday night. Before you go out with them, you can eat the main dish at home. That way, when you get to the restaurant, you’re already full and can either pass on the meal entirely or maybe just order an appetizer.
Alternatively, say your friends want to go to a fancy club to spend the night dancing. That’s great! You don’t have to cancel or avoid hanging out with them, but you can prepare for it. Maybe you can volunteer to be the designated driver, that way you look like the hero and get to save some cash. One easy trick is to get a drink to start the night and then order seltzers with lime from there. Not only is that a refreshing, hydrating beverage, but it looks like your enjoying a cocktail so you can sidestep your friends' peer pressure altogether.
Finally, and perhaps most importantly, you can avoid your friends’ peer pressure by just being honest with them.
Often there is a lot of shame around money which causes us to be silent about our financial pain and because of that, we suffer alone. When you share your money situation with a friend, you release the shame and create an opportunity for someone to offer help. Suddenly, you feel less alone and your financial situation seems less bleak. Tell them you’re budgeting to pay off your debt. Tell them you need to save money for a big purchase you’re trying to make. Encourage them to help you along the way and keep you from spending big, that way they can be a part of your solution rather than part of the problem. Who knows, maybe they’ll feel generous and buy you a drink? If they’re truly a good friend, they’ll understand and support your goal.
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