How to balance being sociable and frugal
As a teenager who's old enough to have the freedom to go out, buy alcohol and go to nightclubs, I find that I'm often avoiding social events and occasions with friends in order to avoid the sheer cost of it all.
If you're looking for ways to build up your savings- as I am and what my blog is all about- you will want to avoid these massively expensive dos or at least find ways to stay sociable but not drain your accounts.
Here are my top tips for staying sociable but staying frugal too.
1. Stick to just drinks
We often find ourselves associating "let's go out for a drink" with food which ends up being another one of those cheeky nandos moments and costing a FORTUNE! If you want to keep to your budget I recommend skipping the meal and just joining for drinks or try and recommend a pub where they serve cheap food.
2. Suggest alternatives
If you've already spent more than your budget's worth on social occasions why not suggest an alternative? Surely it's better than staying in watching the constantly-repeated films on Channel 4? These alternatives could include hosting your own little dinner party or looking for places offering discounts and go there accordingly.
Having said that, these alternatives don't have to be food or drink based at all. You could see whether there's a free open cinema near you or go to the library and rent a DVD? Renting a DVD at £1 a night would be much cheaper than a £10 meal, even if extras like popcorn were to be bought along.
Being careful with the pennies doesn't mean you have to isolate yourself, have a look at alternatives and discount codes and you'd be surprised at what you could save!
3. Borrow things
I know as an individualistic culture, we're very much obsessed with money and independence, however, there is nothing wrong with borrowing things here and there. Ask a friend if you have a chocolate fountain you could borrow for a surprise party or ask to borrow a film for a film night with your partner.
This can also apply to second hand shops or charity shops. There is no shame in looking in a charity shop for a dress for a prom or just a posh evening out. You'd be surprised at what you can find. Sometimes people who are too lazy or unaware of how Ebay works might bring their clothes there rather than chucking them.
If they are designer brands then you might still end up paying £20 or more but if the retail price is £100 or more, you've definitely got yourself not only a bargain but a conversation starter!
4. Check voucher sites
You'd be silly to go out and not check sites like Groupon or Wowcher for any deals. You might end up having an amazing –normally expensive- cheap night out and impressing all your friends with the bargain!
For example, on Groupon at the moment (location depending) there is an offer for a three-course Sunday Roast for four at Derby Manor Hotel.
For all 4 people it'd cost only £69 instead of £115.80. This is a staggering 40% saving (£46.80).
Divide this £69 between four people, it means you're having a three course meal for £17.25!
5. Budget and say "No"
Budget, budget, budget. The word that sounds more daunting the more you say it. But it's important. For those living in student halls or in their own houses now understanding the importance of saving to pay the bills, but your payments for entertainment and all those extras need to be considered too.
I'd advise commencing an Excel spreadsheet and allocating a certain amount for each little "extra." Should you exceed this amount, just tell people that you can't go out; after all, resources aren't infinite.
I hope this has been of some use to you all. I certainly need to practice balancing my social life with my savings and will be researching more ways to save. Any suggestions comment on my Facebook- I'd love to hear them!
The Frugal Teen