Feeling that recession crunch?
It’s no secret that prices are going up everywhere. And it might make you feel as though you need to hermitize in order to save money.
Going out with friends? Too expensive.
Watching that new movie in theatres? Whoa, it’s a bit more than you remember.
We’re all feeling it. Everywhere you look, it seems like an impossible task to save money—or maybe even pay all your bills each month. And that “no-money” feeling can totally get you down.
But… there are tricks to socialize, have fun, and enjoy life without breaking the bank (or even while paying off serious debt!).
Socializing doesn’t have to mean spending more. In fact, if you get your social circle on the same page, you can actually work together to save money. Here are 5 ways to do just that!
Watching our bank accounts slowly go down doesn’t help anyone.
We’ve got to make some changes. And you can do that by gathering your friends and family and making a plan. Here’s how.
We’re serious.
Bulk shopping is still a way better deal than hitting up the grocery store. And yes, it might take more than one go at this to see significant savings. But in the long-term (such as over months), this can really help you cut corners when it comes to that grocery bill.
Okay, but how do you do that?
Have an open and frank discussion with your closest friends or family. Suggest you all go in on bulk buys together (Think Costco and Walmart), then divide it up. Yes, it will take some planning. But it could save you serious funds.
Like buying in bulk, potlucks can offer a chance to socialize and save money.
Plus, you can all make a deal to split leftovers evenly, so your money goes that much further.
Consider picking a theme or a budget (or both) and making this a weekly thing. It will cover maybe two to three meals while not costing you as much. It also allows you and your friends to catch up without overdoing it on your budget.
If your social group tends to often head out on the town (and maybe you aren’t too comfy discussing finances), consider eating before you go.
This saves you at least $20-40 each time. Sure, if your budget allows, get a drink or two. But plan how much you'll spend beforehand (and stick to that plan!).
A few other things here… You could also show up slightly later and leave slightly earlier.
Even if you’re not comfortable discussing finances, you could simply say that you’re trying to keep an eye on your spending.
Socializing doesn’t have to mean spending money.
In fact, true friends will understand that you want to watch your budget and reel it in. Go for a walk in your neighborhood. Or look up hikes nearby (or even ones you can take public transportation to!).
Plus, walking and hiking have loads of health benefits, meaning it’s a win-win. Both can help reduce your risk of chronic diseases, maintain a healthy weight, improve sleep, and enhance your mood.
There are tons of ways to find free events in your area.
Browse Facebook Groups, community boards, or local colleges or universities. Even walking through a Farmer’s Market is free (and might help you support local while saving a bit of groceries).
Hanging out with friends doesn’t have to cost you an arm and leg. Get creative! And remember, a recession is temporary. Right now, you might feel the crunch. But it won’t be forever.
Related Article: Looking to a Brighter Future? How to Start an Emergency Money Fund Now
The cool part about splitting food or items with your social group is that there are tons of apps that can help you sort out who owes who what (without question and without any math necessary). A few of these apps include:
Related Article: Best Money Tips from Self-Made Millionaires and Billionaires
It’s entirely possible!
Warren Buffet, one of the most successful investors, further offers this advice,
“Do not spend what is left after spending. Spend what is left after saving.”
Put time toward planning your finances. If you’re in debt, make a plan to pay it off while also living your life. If you’re at a loss, talk with a financial advisor.
Money can be seriously stressful, especially right now. But when you have a plan in place to stick within your means and your budgets, you can feel secure and confident when you do spend.
Read Next: 4 Smart Money Moves to Make During a Recession
Photo by Priscilla Du Preez on Unsplash
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