Have an Active Social Life while Saving for your Dreams
Inspite of saving regularly for a few months, you have ended up spending most of the money put aside for your dream car and now need to start all over again. Frustrated!
Then the biggest highlights of 2016 happened, demonetisation! A lot of people around you were upset because it was affecting their social life and other plans. You and your friends were hanging out a little less, and when you did, everyone would be on a budget for the fear of running low on cash. Everyone and every industry took a hit except YOU! You were the only one who was able to stick to your resolution of save more, spend less in those two months. Demonetisation was working for you. Wohoo!!!
You are on track saving for your car but this time demonetisation doesn’t have your back. So what do you do when your friends are still spending big bucks on parties, clothes, travel and gadgets and you have to stay within your budget or you might go bust?
Don’t worry; you don’t have to pack your bags and head to the mountains (at least not yet). You can easily have your social life and still stay within your budget; all it requires is a little planning and a little honesty.
Being honest with your friends about your spending limits is a good idea; if they know you are being money wise they will understand and not push you into over spending. Still, we understand that it can sometimes be uncomfortable to talk money even with your friends.
Here are a few scenarios that are a potential threat to your budget:
- Partying with friends
The weekend is here and you want to go drinking with your gang.
Take the lead and pick a place. Even on weekends a lot of places have happy hours. Take advantage of that and drink to your fill. As the evening progresses, you can hold on to your beer a bit longer. You could also plan ahead and buy suitable deals offered online. Surely, this will make your friends happy.
- Going on a vacation
Your friends are planning a vacation and you don’t want to miss it.
Planning ahead can help you out majorly. Book your tickets in advance to save on airfare. Convince your friends to stay at a more economical hotel. You could also get some good deals if you are travelling during off season. When you are with your friends, how does it matter whether it is peak season or off season!
- Expensive gift for a common friend/colleague
It’s a birthday or an announcement of a farewell gift from the gang and you are part of the gang.
The best way to deal with this would be to suggest an amount well within your budget. Honesty helps. If your friends insist on a bigger amount then you can be open about wanting to stick to your budget. You could also go solo on the gift or have others with a similar budget contribute.
- Your 1st Date
This is self explanatory!
We want you to have an impressive first date so that you have a chance at the second one. Plan ahead and be different. Take her/him out for a brunch at any popular restaurant, for which you will find enough deals online. Plus, if the date goes well you will have more time to spend together and you wouldn’t have to worry about spending for lunch after that heavy brunch.
- Retail therapy
Either you never have anything good to wear or you need a new gadget.
Nowadays, you have a new sale coming up every 15 days. So why pay the full price when you can get it for up to 50% less at stores or online.
Don’t just save, invest it
Saving for your dreams is not very difficult. But temptations can make you attack your piggy bank. Investing your savings through an SIP (Systematic Investment Plan) of a Mutual Fund is the safest way to ensure that you don’t touch your savings until the time has come to fulfil your financial goal. Planning can make sticking to your goals a bit easier.
So be honest and open with your friends about money. It’s always good to keep them in the loop and they might even appreciate your honesty and determination. Who knows, your might inspire someone else also to pursue their Dreams.