Going out often can drain your wallet. If you are trying to save up for a down payment on a home, pay off mounting debt or just so you can put more cash in to your savings account, it can be a daily struggle. Being a social person can cost a lot. Maintaining friendships can mean going to events or spending money on dinner or drinks but it does not have to. There are some budgeting tips you can follow that can keep the costs down while maintaining a social life.
Bars can be expensive. The mark up on drinks is very high compared with other products and a night out can always cost a lot more than you intend. If having drinks with friends is a normal thing then try and do it earlier. Happy hour specials can half the price and meeting after work is a great time to meet up and talk about the day before going home. If you and your friends do want to go out for the night then it might be cheaper to meet and have drinks together at one of your homes instead and split a cab to the club.
A shopping trip with friends might sound like a good idea at first but you might be pressured into buying something you do not need or want. Even window shopping can lead to spending money that you would rather save. Instead of heading to high street it might be a more socially and financially savvy way to go look through second hand stores or flea markets and call it “antiquing”.
Doing things at off-peak times is a great budget tip. Many places that charge admission have special rates at their slowest times. Groupon and other coupon sites can offer deals on special activities. This can be a great way to try a new restaurant or entertainment package at a reduced price. Being a member can give you special deals. You can go to theme parks and other free family events in your local area can always be fun without having to spend much.
One of the best budgeting tips out there is to do things that barely cost anything or at all. Having a stroll through the park or a local beach is a great way to catch up with friends without having to reach into your wallet. You have to keep an eye on things like parking or entrance fees however. Staying in is always a great option. Having a friend over to help garden or redecorate does not have to be work. If you have a shared interest in movies or a TV show then that is a nice way to socialise and keep down the cost. Budgeting tips for socialising basically comes down to planning ahead and making the meeting more about the friendship than spending money in order to hang out.