This was kind of interesting as I heard a story where there was a person who was apparently in massive amounts of debt from the usual spending more money than one has scenario. He had an action plan to get out of debt that didn’t have to do so much with budgeting. Instead, it revolved around him making a decision to completely associate himself with different people on a daily basis. This apparently worked for him too.
The concept for this was pretty straight forward as different groups of people have a different idea of entertainment. For example, one group’s idea could be that having a good time means spending like $100 a night at a bar whereas another group may think playing a sport outside is exciting. With this one change he was able to turn things around pretty quickly.
I must admit, this is probably one of those factors that we never want to talk about as it sounds kind of cold and harsh to think of our friends or associates as money drainers huh? I must admit it does have some kind of merit. For example, before I had a person whom I haven’t seen for a very long time come back into my life. He was unemployed and for the most part was getting money from his parents.
It seemed like every time I hung out with him he always wanted to dine out or buy a drink. Just hanging around him for a week made me spend nearly $100 extra as I didn’t want to be impolite at like a restaurant. But that is a simple example of how the people you associate with can definitely influence your financial situation.
I suppose this is something you truly do need to think about if you are in a financial rut. You need to seriously look at what or who is influencing you to spend more money as opposed to making or saving more.