It’s great when people decide to get really serious about saving money, and we’re all for it.
But at the same time, it’s important not to take things too far.
Shirking your round at the bar is one example of a savings strategy that wanders into cheap territory, and once you pull a few moves like that… well, you’ll quickly develop a reputation as a tight arse.
So stick to these six basic principles no matter how hard you’re trying to save, or you’ll be losing friends as quickly as you’re gaining dollars.
1. Always pay your debts
If you’re familiar with Game of Thrones you’ll know that the Lannister family are a pretty dodgy bunch, all things considered.
But while you can call them many things, incestuous, power hungry and violent spring to mind, one thing you can’t accuse them of is being cheap.
“A Lannister always pays his debts”, goes the family motto, and if you want to keep your mates and avoid the dreaded tight-arse label, it’s best to do the same.
How does this help you save money?
Well, if you’re trying to save then racking up debts with your friends or family isn’t a great way to go about it! And if you do owe them, it’s best to pay up first and save later.
2. Do the right thing
What is the right thing, you ask? It’s simple… just use common sense.
The right thing is to buy a round of drinks when it’s your round at the bar, or bring a gift to a friend’s birthday or wedding (it doesn’t have to be something expensive or flash).
At the end of the day, it’s the thought that counts.
3. Speak up
Can’t afford to do something? Speak up.
A simple, “Sorry guys, I’ve got a trip coming up and can’t afford to come out this weekend”, is much better than succumbing to peer pressure, suffering in silence or dropping out with some vague excuse.
When saving, it’s important to be comfortable enough to make your own decisions about what we can and can’t afford, rather than letting other people do it for us.
Your mates will understand, even if they do give you a bit of a hard time. And if they don’t, well maybe they’re not worth your time anyway.
4. Don’t judge
If you want other people to be understanding of your financial decisions, then you also need to accept theirs.
So focus on your own financial goals rather than other peoples’, and don’t judge that friend who splashes cash around like it grows on trees just because you’re counting your cornflakes.
It’s their money after all.
5. Don’t whinge
Finally, if you’ve agreed to something, it’s up to you to live with it.
No one appreciates a saver who comes along to an event and spends the entire time whinging about how much it’s costing them.
And besides, it’s important to let your hair down once in a while and have a little fun. Otherwise, what’s the point?