Social Spending Situations
Here’s more gold from getrichslowly.org. I can’t tell you how many times I’ve been put in this situation. Your coworkers want to go to happy hour and you feel obliged to go so you look like a “team player” or your friends want to go to a 3-day music festival and you’re afraid of missing out.
Unfortunately, happy hours and 3-day music festivals are EXPENSIVE and although I can easily “afford” them by the traditional measure, participating could have adverse effects on my goal to save at least 33% of my gross pre-tax income. As a huge beer fan, the happy hour thing is particularly difficult to me. Many of my friends and collegues have excellent taste in beer and sometimes introduce me to new breweries or types I wouldn’t otherwise be aware of.
I particularly like J.D’s fourth suggestion: leave your wallet at home. In the past I have resorted to emptying my wallet of everything but my ID and a $20 bill. That way, at least I won’t be tempted to spend more than I budgeted beforehand. It’s far too easy to have “just one more” if you’re putting it on plastic.
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