Balancing Your Budget and Social Life
August 6th, 2008 -- Posted in Home Business Ideas, Retirement, Wealth Strategies | 6 Comments »The timing of my reading this article was perfect! Those of you who have high school or college age kids may relate. I have forwarded this to each of mine. Although they grew up learning how to budget , the "outside" forces can be much more tempting at times than logic
“Sticking to your budget while maintaining an active social life can be challenging. Dining out, vacations, retail therapy-all of these things can take a significant toll on your financial stability. Don’t give up hope; just follow a few simple pointers on how to be a responsible social butterfly without breaking your budget. (From Seeds of Success )
1. Forget About the Joneses
If you want to maintain a healthy budget, you must live within your means-so the first step is a mental shift in priorities. Sure, all your friends might drive luxury sedans and sport Swiss watches, but that isn’t an excuse for you to do the same. The truth is, many people who indulge materialist hedonism can’t afford it either. By sticking to your budget now, and investing your savings properly, you’ll end up with more money to spend on what you want in the long run -including bigger cars and shinier watches. Remember that a little restraint now goes a long way.
2. Save for the Fun, Not the Finance Charges
It’s not uncommon for friends to plan winter ski trips or summer getaways together. It’s also not uncommon to rack up serious credit debt on social outings. You don’t have to turn down the invitation, just curb overspending and work your trip into your budget. Calculate how much you’ll need for travel and trip expenses in advance, and pay yourself first. You’ll save huge chunks in credit card interest-plus the peace of mind that comes from knowing your good times your won’t come back to bite you when your credit card bill shows up in the mail.
3. Embrace Like-Minded Savers
Find a support group of penny pinchers who still enjoy cavorting-it’s a great way to exercise financial responsibility without feeling pressured to throw caution to the wind and go "spend crazy." Online groups like ThriftyFun.com and Geezo.com are perfect places to share ideas, stories, get advice and find ways to creatively cut spending while keeping a smile planted squarely on your mug.”
Please leave comment about how you balance your budget and social life! 
Until next time, J.
"Take control of your destiny or someone else will"
