How To Keep Your Friends If You’re Frugal | Mad Money Monster (2024)

If you’re anything like us, you have embraced (or are on the verge of embracing) frugality. We absolutely love our selectively frugal lifestyle because it forces us to make smart money moves while allowing us the freedom to spend money on things and experiences that we value…like road trips across the country. Unfortunately, though, frugality can be a roadblock when it comes to keeping friends.

5 Tips To Keep Your Friends If You’re Frugal

So just how does someone keep their friends while embracing frugality? We tested the waters on this one and came out on the other side with the same friends we had before jumping the frugal fence. If you’re looking for some pointers to ensure you keep your friends after frugality, read on for 5 quick tips.

1. Don’t Turn Down All Invitations

The first thing you need to do to make sure your friends don’t scatter to the wind after you announce your commitment to frugality is to NOT turn down all invitations. Your friends are going to be supportive and want to hear all about your new lifestyle and they’ll likely be genuinely fascinated and want you to succeed.

They’ll also turn right around and ask if you want to go check out the new Vietnamese restaurant that opened up downtown. Trust me when I tell you this, they’re not doing this on purpose to sabotage your success. They just don’t expect their life or their relationship with you to change just because you decided you’re going to adopt frugality.

It’s important, though, to not turn down all invitations when offered. Do that and you’ll get to stand by and watch your friends drop off your radar one by one. Before you know it, you won’t have any idea what’s going on in the inner circle anymore.

Fortunately, you have options. Frugality doesn’t mean you have to sit at home without heat or A/C reading library books by candlelight – even though that sounds pretty awesome.

How To Keep Your Friends If You’re Frugal | Mad Money Monster (1)

2. Suggest Frugal Alternatives To Spending Money

One of the easiest ways to maintain your friendships and not spend as much money as you used to is to suggest frugal alternatives when an invitation to attend a concert or football game rolls in.

You’ll probably be surprised at how quickly your friends agree to something a little less pricey. You might not realize it, but they probably aren’t happy with the amount of money they spend on fluff either. They might not be ready for full-blown frugality, but they’re probably going to be just fine with a less expensive entertainment option.

Never underestimate the power of a backyard BBQ or game night at your place.

I’ve had great success with suggesting cheaper options to my friends. For instance, my one girlfriend and I used to always meet out for dinner and drinks. Two hours later we both had a good time and we were both $50 lighter. Ugh. After adopting frugality, I often suggest we just hang out at her place or mine and maybe grab some fast food.

Yes, we still go for dinner and drinks – occasionally. Going out every few months instead of every few weeks makes a huge difference in our bottom line and we’re both happy to save the money. It’s been a win-win. Woot!

3. Brunch And Coffee Never Go Out Of Style

Remember, going out doesn’t have to mean you’re dropping a ton of money. Brunch and/or coffee are trendy and probably always will be. Why not suggest hitting up a new coffee shop or meeting for brunch instead of trying the new sushi restaurant?

Again, unless your friends are secretly wealthy, they’re likely going to be happy with a less expensive alternative.

4. Remain Active And Involved

Forget frugal, go for the gold! Go for FREE. What do I mean? I mean, when your friends text and want to go shopping, tell them you’d rather go check out the rail trail on your bike but need a buddy. If you can successfully substitute shopping with exercise and fun, you should probably start a frugality blog of your own. 🙂

But let’s just say your friends aren’t having it and they’re still hitting the outlets, no problem, you can either go along and spend minimal money, or you can skip it and get together next time when they’re doing something a little less spendy.

As long as you remain active and involved in the lives of your friends, they’ll remain active and involved in your life, too. Remember, texting and calls will keep your friendships fresh and they don’t cost a thing.

Other articles you might like:

  • Frugal Hacks For A Fabulously Fun Weekend
  • How We’re Achieving FIRE/FIOR Through Selective Frugality
  • What To Do When You Realize Frugality Won’t Make You Rich
  • Shifting To A Frugal Mindset Has Given Us Options. Tons Of Options.
  • Frugal Eats For Our Workweek
  • Proof You Can Royally Mess Up With Money And Still Retire Early
  • 9 Money Hacks That Took Us From The Poorhouse To The Penthouse
  • How To Dig Your Way Out Of Debt When You Feel Hopeless
How To Keep Your Friends If You’re Frugal | Mad Money Monster (2)

5. Spend Money If It’s Warranted

Now, if you’re just starting to embrace frugal living you might want to go full force and not spend a dime on anything that isn’t going to ensure your immediate survival. And while that can be commendable and really propel you in the direction of saving tons of money and reaching your financial goals at lightning speed, it might not be the smartest thing to do for your happiness.

I know, I know, you’re likely sitting there shaking your head wondering how that couldn’t be smart if you’re reaching your goals and leaving everyone else in the financial dust – well, that’s kind of the point. You’re leaving everyone else in the dust, including your friends.

Although I love frugality and you love frugality, not everyone is going to jump on the frugal bandwagon. I’m certainly not suggesting you give up your more spendy friends unless they subscribe to your school of financial thought. Instead, try to find a happy medium. You might not be able to say YES to every invite out to dinner or the movies, but saying yes here and there means you’ll keep your relationships and most of your money.

Well, there you have it. Hopefully, this quick and dirty list will ease your mind. If you do it right, your friends won’t scatter when you embrace frugality. And if they see you benefitting, they might even embrace it with you!

How To Keep Your Friends If You’re Frugal | Mad Money Monster (3)

How To Keep Your Friends If You’re Frugal | Mad Money Monster (2024)

FAQs

Is being frugal good or bad? ›

Being frugal is not a bad thing. It only becomes an issue when it is taken to the extreme. I believe that everyone should have some sort of "frugality" as a part of their life, but you must be smart about it.

Why am I extremely frugal? ›

In the modern-day, many children who have experienced their parents lose financial security can adopt extremely frugal habits. Excessive frugality can also be especially appealing when we are victims of confirmation bias or a pessimist financial mindset and are not aware of it.

How to be extremely frugal? ›

12 Tips for Frugal Living
  1. Choose quality over quantity. ...
  2. Prioritize value over price. ...
  3. Use credit wisely. ...
  4. Declutter regularly. ...
  5. Use a budget to guide your spending. ...
  6. Know the difference between wants and needs. ...
  7. Be a savvy consumer. ...
  8. Prioritize your values.
Oct 17, 2023

How to stop being cheap? ›

How can I be frugal without being cheap?
  1. Focus on the big picture. Don't worry about the little things. ...
  2. Don't be afraid to splurge on things you love. It's okay to spend money on something you really want if it's something you really want. ...
  3. Find ways to save money that are fun.
Aug 22, 2023

What is toxic frugality? ›

Frugality is the practice of being wise with money and avoiding wastefulness. It's a virtue that many people admire. It fosters responsible financial habits and can lead to a more sustainable life. But there's a darker side to frugality that can be detrimental to our quality of life. This is known as “toxic frugality.”

Is it smart to be frugal? ›

By being mindful of how we spend our money, we can reap numerous rewards such as improved financial security, increased savings, fewer debts, and more freedom overall. If these reasons sound appealing to you then consider giving living frugally a try—you may just find that it's easier than you think!

Is extreme cheapskate a mental disorder? ›

The American Psychiatric Association defines frugality as a symptom of obsessive-compulsive personality disorder (OCPD) when someone “adopts a miserly spending style toward both self and others.” Extreme frugality is an amplified version of that, and it often involves viewing spending as a bad thing no matter how much ...

Is extreme frugality a disorder? ›

Fear of spending money or excessive frugality is sometimes known as Chrometophobia, a Specific Phobia related to money. Fears about spending money may also be involved in obsessive-compulsive disorder (OCD).

What is a frugal personality? ›

Frugal people prioritize spending money on things that add value to their life, and they avoid using money for what they don't consider important. Those who are frugal recognize the value of their time, health and happiness over material possessions.

When being frugal becomes an obsession? ›

Do you or someone you know go beyond being a cheapskate? If so, you may have a money disorder -- one that financial therapists call "underspending." Here are some symptoms of a chronic underspender. Sure, it's fashionable to be frugal. But sometimes severe frugality can morph into a serious mental disorder.

Can a frugal person be generous? ›

There are plenty of ways to be generous while maintaining your frugal lifestyle. And most won't cost you a dime. You're proud of the frugal lifestyle you have adopted. Becoming a minimalist has served you well.

What is a frugal millionaire? ›

People who turn a modest financial base into wealth often do so by living frugally, saving regularly, investing wisely, and avoiding debt. By contrast, people who end up in a perpetual cycle of debt are often those who spend and borrow excessively to support an unsustainable lifestyle.

How can I stop being broke? ›

How can I stop being broke?
  1. Stop spending more than you make.
  2. Budget your monthly earnings to have money left over.
  3. Increase your earnings through higher pay or working more hours.
  4. Start acquiring assets.
  5. Stop acquiring more debt.
  6. Save up an emergency fund.
Dec 21, 2022

How do I stop getting broke? ›

Use the 50/30/20 Rule: Allocate 50% of your income to needs, 30% to wants, and 20% to savings and debt repayment. Adjusting these percentages to fit your goals can help accelerate your savings. Save Your Raises and Bonuses: Resist the temptation to increase your spending with every raise or bonus.

How to stop being so stingy? ›

How to be frugal without being stingy
  1. Set a budget and save for an item, even if it is something that seems extravagant, like designer jeans or a new fancy blender. ...
  2. Comparison shop for higher-priced items. ...
  3. Know when to spend. ...
  4. Ask yourself three questions before buying something: Do I need it? ...
  5. Compromise.

Can being frugal make you rich? ›

Frugality Can Make You Rich

Perhaps. Popular financial personality Dave Ramsey estimates that if you skip your daily cup of coffee from Starbucks, you could save $63 per month, $766.50 per year, or $22,995 over 30 years.

Are frugal people happy? ›

Frugality is a mindset that can lead you to a life of greater peace and happiness. A frugal person assesses their desires and spends less on things they don't need.

Is being frugal a strength? ›

Being frugal is an amazing measure of your strength, your resolve, your determination, and your commitment to purposeful living.

Top Articles
How to Make Money Writing: 5 Ways to Get Paid to Write in 2024
Average Car Loan Interest Rates By Credit Score | Bankrate
Craigslist Centre Alabama
Dive Bars With Pool Tables Near Me
10 Tips for Making the Perfect Ice for Smoothies
Latina Webcam Lesbian
Jared Isaacman e Sarah Gillis: quem são os primeiros civis a caminhar no espaço
Lynaritaa Boobs
Humidity Yesterday At My Location
Bear Lake Trifecta 2024
Adt First Responder Discount
Old Navy Student Discount Unidays
Unterschied zwischen ebay und ebay Kleinanzeigen: Tipps, Vor- und Nachteile
20 Cozy and Creative Fall Front Porch Ideas to Welcome the Season in Style
Shoulder Ride Deviantart
Journeys Employee Discount Limit
Rooms For Rent Portland Oregon Craigslist
As Trump and Harris spar, ABC's moderators grapple with conducting a debate in a polarized country
Four-Legged Friday: Meet Tuscaloosa's Adoptable All-Stars Cub & Pickle
Craigslist Ct Pets
14 Must-Know 9GAG Statistics: How Is It Doing in 2023?
The Front Porch Self Service
636-730-9503
Quantumonline
Community Q&A with Red Flight and the Combat Box server
SF bay area cars & trucks "chevrolet 50" - craigslist
Toonily.cim
Worldfree4U In
Green Warriors of Norway: “Salvage the 67 tonnes mercury bomb now” | Norges Miljøvernforbund
Dicks Sporting Good Lincoln Ne
The Bold And The Beautiful Soap Hub
Hmnu Stocktwits
Wells Fargo Hiring Hundreds to Develop New Tech Hub in the Columbus Region
Hospice Thrift Store St Pete
We Tested and Found The Best Weed Killers to Banish Weeds for Good
Emily Dealy Obituary
8 Best Bubble Braid Hairstyles For All Hair Types
How Did Laura Get Narally Pregnant
Keyn Car Shows
Josh Bailey Lpsg
Rwby Crossover Fanfiction Archive
Craigslist Farm And Garden Yakima
Teamnet O'reilly Login
Alfyn Concoct
Keck Healthstream
2022 Basketball 247
Kathy Park Wedding
Crandon Skyward
Evalue Mizzou
Love In Orbit Manga Buddy
Obsidian Guard's Skullsplitter
Craigslist Org Sd Ca
Latest Posts
Article information

Author: Horacio Brakus JD

Last Updated:

Views: 5890

Rating: 4 / 5 (71 voted)

Reviews: 94% of readers found this page helpful

Author information

Name: Horacio Brakus JD

Birthday: 1999-08-21

Address: Apt. 524 43384 Minnie Prairie, South Edda, MA 62804

Phone: +5931039998219

Job: Sales Strategist

Hobby: Sculling, Kitesurfing, Orienteering, Painting, Computer programming, Creative writing, Scuba diving

Introduction: My name is Horacio Brakus JD, I am a lively, splendid, jolly, vivacious, vast, cheerful, agreeable person who loves writing and wants to share my knowledge and understanding with you.