When your friends are purchasing high end clothes, eating at restaurants that don’t have free nacho chips and shopping more often than they are working, you need to re-think your social status. You need to be honest with your friends, with yourself and with your finances. If your honesty is not enough for your friends, then at least you have one problem out of your way as you move on to find a peer group that you will be more comfortable with.
Many people are very wrapped up in what they have and what they can get. Instead of considering how much a car costs, people consider the car payment. Instead of looking at the interest rate on credit cards, people look at the credit limit. Spending money you don’t have to impress people is about as wasteful as money lost in excessive credit card interest.
If you can’t fess up to your own friends that their lifestyle is a little too high end for you and that unless they are interested in discounted movie matinees or midnight madness sales at more moderate stores, then you are doomed for financial distress. If you can face passing on social events you can’t afford or ordering an appetizer from the value menu when everyone is getting a three course meal, then you are moving in the right direction. Declining an invitation is to an event is far better for your financial health than accepting one and wondering if you’ve hit your credit line yet.
Decide if you will be more embarrassed when your card comes back declined or when the next event comes up and you have to inform your friends that it is out of your budget and maybe you could join them after the event. Being responsible with your money will enable you to continue to build on your income and savings instead of paying for a spring break trip you couldn’t afford- and that happened two years ago.
