How to cut back without killing your social life
Every once in a while, most of us will have thought about cutting back on costs in an attempt to save money. But unfortunately, saving money and having a social life don`t always go hand-in-hand.
Having plenty of friends around you is great, but let`s face it - it`s expensive. Most social activities seem to cost money these days, and that can mean that the more sociable you are, the more pressure there is on your finances.
However, there are a few things you can do to cut back without completely severing ties with your nearest and dearest.
Throw your own parties
Instead of going out at the weekend and spending half your week`s wages on alcohol, fast food and a taxi home, put on a party yourself. Everyone loves a house party for the same reason - it`s cheap, sociable, and usually just as much fun as a night on the town.
A house party can work out much cheaper for several reasons. You can buy drinks for a fraction of the price you`d pay in a bar, and most guests will be happy to provide their own - after all, they`ll be saving money too. The same applies to food.
If your whole friendship group is money-conscious (and organised) enough, you could even arrange to have parties at a different house each week - and see the savings really start to add up.
Find activity groups / classes
If you want to broaden your horizons a little, there`s no better way to keep your social life afloat than signing up for a group or evening class.
Whatever you`re interested in, there`s sure to be a group or class you can attend once or twice a week - and it shouldn`t cost you much, if anything - rather than having a `regular` night out.
A few ideas might include getting involved in amateur dramatics, sports teams, joining a band (cheap providing you already own an instrument), or joining a gym class. You don`t need to end your usual social activities altogether, but by keeping a healthy balance, you can reduce your level of spending while meeting new people.
Make the most of special promotions
Restaurants, bars and clubs are always looking to compete, and one way they do this is by putting on special promotions.
For example, restaurants might put on cheaper meals at certain times or days of the week; similarly, bars and clubs quite often put one `buy one, get one free` offers on drinks. Take advantage of these offers - your bank balance will thank you.
Walk or take public transport
In this day and age, most of us have become accustomed to getting around quickly and easily by car or taxi. But this can prove expensive compared with catching public transport or simply walking to your destination.
However, be careful. Public transport is cost-effective for longer journeys, but on shorter journeys (that are still too long to walk), you may still find that travelling by car is cheaper. This is even more the case if you can `car pool` - getting two or more people into the same vehicle.
On short journeys (say, less than half an hour) however, it should always make financial sense to walk.
Be strict!
Above all, you should be strict with your finances. Credit and debit cards have made it all too easy to spend money we didn`t intend to spend - but this has an obvious impact on your bank balance.
Instead, whatever you`re planning on doing, take out just enough money in cash to cover that and leave your cards at home. That way, once you`ve run out of money, you`re finished spending - no excuses!
Even better, get rid of any lines of credit you don`t need, like old credit cards and overdraft facilities. This can make it much easier to avoid the temptation to overspend.
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