5 Ways to Save Money Going Out With Friends (2024)

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5 Ways to Save Money Going Out With Friends – When you’re on a budget but still want to have friends, you don’t need to live under a rock to make that happen! Here’s what you can do.

5 Ways to Save Money Going Out With Friends (1)

“I love you, but I can’t go into debt to hang out with you!”

I’ve wanted to say this to almost every one of my friends when they asked to go out for the night.I work with a very strict budgetand I budget in “fun money,” but I don’t really want to blow all of my “fun money” on a single night out!

When you’re living on one income and a budget, you’ll likely find yourself in a situation where you will have to choose between spending time with friends or staying on budget. And that’s not a fun place to be!

But there’s another way! You can have both!

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Here are my ways to still have time with friends while sticking to my weekly $25 fun money!

1. Change the start time.

Dinner is so much more expensive than lunch or brunch! Plus, there’s no need to buy drinks for breakfast! Bagels and coffee are much easier to pay for than chicken alfredo or brick oven pizza (can you tell I’m thinking about Italian food?)

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2. Change a night out to a nightIN.

Who needs a Girls Night Out, when you can have a Girls Night IN?! Instead of going out to a movie with girlfriends, invite them over, turn on Hulu, watch The Bachelor, have someone bring wine (uber money saver: skip it altogether, since alcohol is so expensive!), make some amazing bark, and hang out. You can even order takeout if you’re feeling really lazy, and it would still save you money.

An even greater idea that some of my girlfriends and I love to do, is we all bring a recipe that we’ve seen on Pinterest for us all to try out. We get the variety that we would if we went out to dinner, and we all only have to make one thing. It’s a lot of fun!

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3. Have a potluck or BBQ.

If you host a potluck or barbecue with a lot of friends you can usually get away with spending very little and just asking everyone else to bring food. Is hosting best. Either way, they’re fairly inexpensive, easy, and a great way to catch up without breaking the bank.

If you and your friends all have kids, this is the best way to get together! No one has to pay for a sitter, and you don’t have to worry about being those people who brought the terrible children to the nice restaurant and are ignoring them tearing up the place while they catch up with their friends. It’s a great way for whole families to get together.

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4. Window shop.

Some of the most fun I’ve had has been window shopping with friends after grabbing somecoffee. I love to window shop! But only because I know I won’t buy anything. If it’s too tempting for you, this is a bad idea! But if you’re comfortable in your wallet control, it’s like a real-life dream board on Pinterest! I go out and get great ideas to then go home and find out how to do them for cheap on Pinterest!

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5. Just say “no.”

It’s not always easy, but sometimes you just have to say no. When it comes down to it, friends will get the choices have to be made when money is tight. Chances are, someone might get their feelings hurt. But at the end of the day, you won’t regret your choice to save money.

As with everything, going out with friends can be as expensive or as inexpensive as you want to make it. You could get together at a 5-star restaurant and get a spa day, or youcan get together once the kids are in bed and catch up on the latest episodes of your favorite TV shows while eating leftovers. What matters to most is spending time together!

My friends all know that I love them dearly. They also know that I’m just about the cheapest person known to man.You don’t have to choose one over the other. You can have friends and still save money. Sometimes it requires a little bit more work and planning, but in the end, it’s all worth it!

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How do you get together with friends without breaking the bank?

5 Ways to Save Money Going Out With Friends (2)

5 Ways to Save Money Going Out With Friends (2024)

FAQs

5 Ways to Save Money Going Out With Friends? ›

If you're on a budget and want to help your friends who are too, take the lead making a budget-friendly agenda. A few ideas include gathering for appetizers and drinks rather than a full meal together, having a potluck or cookout or meeting at restaurants that have reasonably priced meals.

What are the 5 steps to save money? ›

5 simple steps to start saving
  • Set one specific goal. Rather than socking away money into a savings account, set specific goals for your savings. ...
  • Budget for savings. Just because you decide to save doesn't mean it's going to happen. ...
  • Make saving automatic. ...
  • Keep separate accounts. ...
  • Monitor & watch it grow.

How to save money and still go out? ›

Top tips for cutting the cost of a night out
  1. Organise pre-drinks. If you're going to go out drinking, it makes sense to start your night at home with pre-drinks. ...
  2. Stock up on carbs in advance. ...
  3. Have food ready for your return. ...
  4. Hit the club early. ...
  5. Act like a celeb. ...
  6. Set a party budget. ...
  7. Avoid buying rounds. ...
  8. Ditch the credit cards.
Jun 19, 2023

How can I save money on socializing? ›

  1. Open up to your friends.
  2. Focus on doing things for free.
  3. Ring-fence money for nights out.
  4. Dress up for less.
  5. Be more strategic on nights out to save money.
  6. Make the most of special offers.
  7. Join events late and leave them early.

How do you spend money wisely with friends? ›

If you're on a budget and want to help your friends who are too, take the lead making a budget-friendly agenda. A few ideas include gathering for appetizers and drinks rather than a full meal together, having a potluck or cookout or meeting at restaurants that have reasonably priced meals.

What are 6 ways to save? ›

What Is the Best Way To Save Money?
  • Set goals. Set savings goals that motivate you, like saving up for a house or going on a dream vacation, and give yourself timelines for reaching them.
  • Budget. Make a budget and make saving a necessary expense. ...
  • Cut down on spending. ...
  • Automate your savings. ...
  • Pay off debt. ...
  • Earn more.
Feb 14, 2024

How can I save $1000 in 30 days? ›

11 Easy Ways to Save $1,000 in 30 Days
  1. Create a Budget. ...
  2. Automate Your Savings. ...
  3. Create a Savings Bingo Sheet. ...
  4. Negotiate Your Bills. ...
  5. Separate Wants From Needs. ...
  6. Plan Your Meals. ...
  7. Buy Generic Brands. ...
  8. Cancel Unnecessary Subscriptions.
Sep 26, 2023

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings. The savings category also includes money you will need to realize your future goals.

How can I save $100 a week? ›

Nine Ways to Save $100 This Week
  1. Track Your Spending, and Make a Budget. ...
  2. Pack Your Lunch. ...
  3. Check If You're Being Over-Serviced. ...
  4. Negotiate Your Bills. ...
  5. Vow to Reuse, Repair and Repurpose Instead of Buying New. ...
  6. Get to Know Your Credit Card. ...
  7. Change Your Living Situation. ...
  8. Clean Out Your Pantry.

How can I spend less on friends? ›

Here are some tips to stop overspending with friends: Create a budget—Be as specific as possible. Set aside the exact amount you will allow yourself to spend on certain activities (ie: dining, travel, etc.) Remember the big picture—Keep in mind the reason you want to stop overspending in the first place...

How can I save money for fun? ›

Try a Savings Challenge

Savings challenges can help you push yourself to spend less and save more while having fun. One popular way to play is the 52-week money challenge. With this savings challenge, you save $1 in week one, $2 in week two and so on, continuing until week 52 (where you'll save $52).

How do you hang out with friends and not spend money? ›

Whatever your situation, here are 13 fun things to do that don't cost money with friends and family:
  1. Go on a picnic. ...
  2. Go to no-cost museum and zoo days. ...
  3. Give geocaching a try. ...
  4. Leverage your chamber of commerce. ...
  5. Take a historical city tour. ...
  6. Visit a farmers market. ...
  7. Go camping. ...
  8. Do a photography challenge.
Feb 14, 2024

How do you spend with friends? ›

There are lots of things you can do with your friends including:
  1. Have regular film nights or start a book club.
  2. Go for long walks or exercise together.
  3. Host a games night or play games together online.
  4. Make dinner together - each bringing a dish!
  5. Volunteer or attend a class or course together.

How do you pool money with friends? ›

Money pools most often involve a group of family members, coworkers, or close friends who agree to pool their money equally through monthly (or regular) contributions to a fund. The amount agreed upon might be small, say $50 per month, or large, like $200 every two weeks, for a fixed period of time.

What is the rule of 5 savings? ›

How about this instead - the 50/15/5 rule? It's our simple rule of thumb for saving and spending: aiming to allocate no more than 50% of take-home pay to essential expenses, 15% of pre-tax income to retirement savings, and 5% of take-home pay to short term savings.

What is the 3 saving rule? ›

The idea is to divide your income into three categories, spending 50% on needs, 30% on wants, and 20% on savings. Learn more about the 50/30/20 budget rule and if it's right for you.

What is the 5 savings challenge? ›

The fiver challenge - save £7,000

This challenge works the same as the 52 week challenge, but you go up in multiples of £5 rather than £1. So week one = £5, week two = £10, all the way up to week 52 at £260. Alternatively, if you're not in the position to save these larger amounts, you could save £5 every week instead.

What is the $5 savings method? ›

If you're paying for something at the register with cash and the cashier hands you a $5 bill, put it directly into your savings account and pretend it's not even there. Five dollars can add up quickly. According to The Penny Hoarder, putting aside two $5 per week can add up to $520 in savings after a year.

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