I’m sure you enjoyed the long weekend, so I’m making this week’s topic an interesting one. But first, some questions. Answer these:
- Do you have an entertainment budget?
- Do you spend way above your budgets during hangouts?
- Have you ever made excuses to avoid hanging out with friends due to financial reasons?
- Have you ever wished for a no money spending hangouts with friends?
Having a social life always costs money and can have negative effects on your finances and so this week I’d be walking you through some smart budgeting and planning guidelines to take better control over your spending.
”Friendship may seem priceless, but maintaining it is expensive”
Is it possible to spend less money, save and still see your friends?
Yes, it is. I would be exploring ways you can enjoy your hangouts while still maintaining a budget. I consider this topic very important, we are millenials afterall.
#1: Know Your Limit
This is the first thing you have to consider before engaging in any hangout. You need to know what you are capable of financially. Relaxing and spending time with friends or family can be awesome, but you need to also have a general idea of how much you plan to spend on these activities ( food, drinks and/or paid games). Having an estimate will always help you budget your finances and you’ll know the exact amount of cash you need to take along.
Since you already know your limits, you should definitely bring it up before hand to your friends to eliminate confusion or awkwardness. You could (in order of efficiency):
- Engage in cheap, low cost activities
- Visit average cost restaurants or events
- Bring up your intention to share costs early and you can volunteer to do the maths
- Ask for separate checks from the cashier
#2: Engage In Home/Indoor Hangouts
Do you know hanging out with friends at home can be very interesting and also cut spending? I understand most of you might see it as boring, but if properly planned, it’s pretty fun! While indoors, you can engage in any of the cost-saving activities listed below:
- Game Night: Get together and play board games or video games
- Movie/TV Nights: You can come together to watch interesting TV series you enjoy or watch interesting or old classic movies with pop corn and drinks
- Make Lunch/Dinner: You could plan to have a cookout at home. Contribute as a group and make different types of food.
- Other fun events: You can engage in karaoke, truth or dare, card games, concentration-concentration, charades etc.
#3: Take Turns Paying
If you are the type that goes out regularly with friends, then this point is for you. You and your friends can take turns paying to cut down individual costs. Everyone has to agree to this decision to make it work.
For example: If you went out with 2-3 friends and you pay for the food, someone else gets the drinks and the last person can take care of transport. And you can rotate like this subsequently. This method allows you alternate payment and makes the billing process very easy.
#4: Always Ask For The Specials (Discount Offer)
Cinemas, bars, lounges, event centers, fashion stores, restaurants/eateries etc often offer discounts. When out with friends, especially in large numbers, always ask for discount offers. This helps you save as much money as you can. Buying a drink for #5000 which initially costs #9000 is a really big cost saving. Also, if you consider shopping fun, you could shop more in thrift shops to save money and still enjoy shopping with friends.
For example, cinemas in Nigeria often offer discounts and this is something you can take advantage of. Going out is even fun when you spend less and still have the best of times.
You can relax, boost the quality of your friendships, and at the same time save money. Get together with friends, but spend less. You and your friends should come together to design a proper cost-saving activities. Because, again, we are all millenials, and money is super hard to get these days. You know Nigeria. 😉
What are your favorite ways to enjoy a hangout without spending?
Let’s know your answers in the comment section below.
Have a great week, and until next time,