Save Money on Social Activities

Loading...
Loading...

Having an active social life is one of the things which will keep you balanced amongst the craziness which is a life filled with work deadlines, demanding clients, a hard to please boss, over excited children and Saturday morning soccer matches. However, after all of those commitments it can be hard to find the spare funds for the social activities you want to enjoy.

Luckily, by being a little more frugal you can enjoy all of the social activities you want, without having to worry about your budget. For example, when you are able to cut back on your spending at the supermarket, or save on your electricity bill, there will be more room in the budget for a treat on the weekend.

To save money you don't have to give up the things which are important to you, instead, the savings come from what you do when no one else is around. For example, you're not impacting on your social life by switching to energy saving light bulbs, or starting an emergency fund, instead you are working on living a more sustainable and financially stable lifestyle. If an active social life is important to you, then find ways you can cut your spending without cutting your entertainment.

1 – Drink before you leave

If you think back to your days as a student, before a big night out you would probably have a few quick drinks at home to save on the over priced drinks at the bar. As you get older and secure a better paying job and become ‘an adult' you don't feel like you can do these things anymore. However, if you have a few drinks over dinner before you head out then you'll need to buy fewer drinks at the bar and you can still enjoy a social night out and no one needs to know your money saving tip. Or you can get together with your friends before you go out and start drinking at home so you can all save money.

2 – Eat before you leave

Going out to dinner is a nice treat, but it can be very expensive by the time you order an entree, main and dessert, a few sides, a few bottles of wine and you've paid for parking. However, you don't have to miss out on this social activity when you are watching your spending because you can simply eat at home, and head out to your favourite restaurant or cafe for dessert. You still enjoy the same atmosphere and experience of eating out, but for a fraction of the total bill.

3 – Pay for your own dinner

When you go out with a group of friends and the bill for the table arrives at the end of the night, the natural inclination is to simply divide the final total by the number of people at the table. However, if you are watching your social spending budget and so you only had one glass of wine, chose a cheaper main meal and skipped dessert, by splitting the bill you are absorbing the cost of your friends who splurged on their meals and bought several bottles of wine. Therefore, the next time you go out, remember how much your order was and contribute only that amount to the final bill.

4 – The frequency of social events

As much as you save up to put aside money for your social activities budget, there are times when you run through that budget quickly. Therefore, try and plan your social activities for the month around what you can afford. For example, go out to dinner one a month instead of once a week, and if you know you've got two parties coming up for your friends, decline the invitation to two more which pop up at the last minute. After all, will you really enjoy yourself at those new events if you know you can't afford them? Catch up with those friends next month for a coffee instead.

5 – Dinner at home

While you are cutting back on dinners out, why not substitute a dinner party at home for an expensive restaurant meal. There is no doubt that cooking at home will save you a lot of money over the bill at a restaurant, plus you're not paying corkage or marked up wine prices. You can plan a romantic dinner party at home instead of going out, or start a rotation with friends where you each take turns to host a dinner at your house. You can then still see your friends at social events, enjoy good food and wine and cut back on your social activities budget.

6 – Suggest activities

If your friends are always suggesting social activities which cost an arm and a leg, then instead of feeling pressured to go along just to catch up with the gang, suggest your own activities which will actually save you money. Think of things which would genuinely interest you and your friends as a social activity, and then find out how to do them on a budget. You don't have to tell your friends you've researched a budget option, you simply have to make the suggestion. For example, instead of going to the movies, why not set up a moonlight cinema in your backyard and play all of the classics? Or find a national park which is close by and doesn't charge admission fees and plan a hike and a picnic.

Loading...
Loading...

7 – Join the community

If you're looking for affordable social activities then find out more about what is happening in your community. Look at the community calendar to find out about activities and events, many of which will be free to attend. You can also find out what is on offer from your city's parks and recreation department and this is another great way to find cheap alternatives to your usual social activities. For example, rather than attending the Christmas carols by candlelight in the city where you have to spend money on fuel, park, entry and food, head down to your local park or square for the same event but in a more affordable format.

About the author

Alban is a frugal person, who likes to find new ways of saving money without sacrificing the fun. Alban is also a regular contributor at Personal Loan Finder

People who read this article also read:

  1. Top 5 Ways To Save On Entertainment
  2. How College Girls Can Have a Fun Summer and Still Save Money
  3. 10 Money-Saving Tips For Students


Loading...
Loading...
Posted In: Personal Finance
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...