Do Your Finances Affect Others?
October 22, 2009 by Karen Weideman
Filed under finances, financial matters, frugal living
With all of my close friends, I have noticed a similarity. My personal finances and financial decisions affect them.
They say opposites attract and I guess that can be true of friendships as well. I have had three close friendships. I’m talking tight, share all secrets with girlfriends. All three of these ladies had issues with spending. After being friends with them for a while, I noticed that all of them began to tone down their spending, their impulsive shopping, their wild credit card spending, and they began to look for bargains on the things they purchased.
Of course when you are close friends with someone, you talk about life. You talk about the things you buy, the reasons you buy them, what your long term goals are, what you’re saving for, and if money is tight you talk about that too. Here are some things I have mentioned to my friends that I feel has caused them to be more aware of their spending:
- My objection to car payments – Try to save for a vehicle, pay cash if possible, finance as little as possible, don’t go for a high dollar car, and also the crazy depreciation rates.
- Don’t charge it – Basically, if you can’t afford to pay cash for it, you don’t need it.
- Impulse shopping – Avoid making impulse purchases. Think about it. Plan for it. Decide if you can afford it.
- Comparison shop – Look around for the best bargain. Shop the sales.
- Use coupons – Try to use coupons on groceries, dining out, and entertainment.
- Plan for the future – Leave within your means and save for the future. Save for a rainy day so that you don’t have to use credit for emergencies.
Have your finances affected your friends?
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All my friends live in smaller than they could afford houses and drive older cars. We enjoy a good deal and share thrifty tips all the time. None of us are worried about retirement or how to pay for college. I always say that I’m not impressed by your big house or expensive car. I am very impressed that you bought the Christmas dress at a resale shop for $10. And, it’s not like we’re not having fun. While my husband’s work friends cannot figure out how to pay for a movie night with their wives, we’re making plans to go back to Disney World and stay in the delue resorts. It’s all about your priorities. Our priority is making memories, not buying stuff.