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How to Save Money Without Sacrificing Your Social Life

How to Save Money Without Sacrificing Your Social Life

It is a tale as old as time; we want to grow up, master the art of adulting and have an impressive bank account that we can turn to for everything from the mortgage to a night out without ever fearing it will be empty. But this is never as realistic of a goal as we hope.

I will never forget the first time I told my mom I wanted to move out after college and get my own place. She was incredibly supportive, but she sat me down and told me I needed to come up with my budget. “Write down what you make versus what you will be spending.”

I thought this would be an easy enough project. After all, my friends would be coming over to see my place, instantly saving me money on eating out and going on expensive adventures. But even with the unrealistic expectation of expenditures, writing down rent/mortgage, electricity and utilities, etc. it quickly became clear that I would have absolutely no money whatsoever. So I was going to have to learn to save before I was able to move out. But how was I supposed to do that? I didn’t want to give up my social life, but I also didn’t want to give up my wallet!

Don’t Panic! Here’s How You Can Keep Your Money and Your Friends.

1. Don’t order an entrée

I always wind up with leftovers when I go out, so this tip helped me save money and stop wasting food! When you go out with friends, choose appetizers or desserts as meals to cut 20-50% off the cost of your outing. This can also be fun if you’re friends do it, too. It makes eating anywhere feel like a tapas restaurant![1]

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Just be aware of the kind of restaurant you’re visiting. While most establishments are happy to take your money, some do have a minimum spending amount and even charge fees for sharing. This info can always be found on a menu or in advance via their website.

2. Drink your own booze

If you plan on going to a bar, drink at home before heading out. If you still want a drink when you get to your destination, opt for only one since bars always up the prices of alcohol. But please don’t drink and drive. This one does take some time to get used to though, as you have to practice a lot of self control. You will be tempted to order more than one drink, especially if you’re at a specialty bar. But remember what your financial goals are when that temptation strikes.

3. Break the Rules

Listen, I’m not trying to get you kicked out of your local movie theatre, but have you seen the prices on popcorn and candy?! Bring your own snacks and buy tickets online from discount sites like Swaybacks or Gift Card Granny. Additionally, some theaters offer reward programs which can add up to discounted tickets.

If you don’t want to get caught bringing in food, opt for a DIY movie night at home with your friends.

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4. Attend a concert for free (as a volunteer)

Almost any event you want to go to will need additional help. Instead of hopping online to their website for a ticket, navigate to the “Volunteers” section of the site or submit a query via the “Contact Us” option. If you need help convincing your friends, remind them that there’s a good chance of meeting the band if you’re helping set up for their show. Sure, you will have to do some manual labor and you’ll probably leave pretty sweaty, but you would’ve been anyway if you were jumping up and down with the band!

5. Shop Secondhand

While this used to be a taboo idea, it’s become a fabulous option in recent years. With stores like ThredUp and Plato’s Closet, you can get cash for your own clothes and then buy other people’s consigned pieces. I’ve found it’s a great way to trade in your out-of-season pieces for trendier options without spending big. Plus it means you have an ever-changing closet which can give the illusion of constant shopping sprees!

Keep in mind that you won’t want to use this option for designer items you have strong feelings for. While it’s a great way to get a little extra spending money, you won’t get what you “think” they’re worth.

6. Keep your closet basic

If you fill your closet with basic pieces (think layering tops and well-tailored jeans), you can have endless outfit options just by switching accessories. If you get caught up with your friends shopping plans, opt for jewelry pieces you want to invest in rather than wardrobe upgrades.

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Recently I went through my closet and separated all of my pieces into outfits. If a couple things could work in numerous ways, I sectioned those items together. This has made shopping easier and cheaper since I don’t inadvertently duplicate items I have, and it’s also helped me speed up my getting-ready-routine in the mornings. Bonus!

7. Stick to a palette

This tip goes hand-in-hand with number 6. If you keep a consistent color palette, you can rest assured knowing all of your items (even new purchases) will coordinate. For instance, pick a color range like black, white and grey and know that you’ll easily pair outfits. Don’t think this means you need to have a cartoon character wardrobe in which you have 7 of the same pants, but just keep it neutral enough that you won’t wind up with that really expensive blouse that requires entirely new pants and shoes.

8. Give thoughtful gifts, not expensive ones

While thoughtful and expensive can sometimes go hand-in-hand, it’s important to stick to gifts your loved ones will cherish rather than fancy gifts they will use once and be done with. I have started shopping for holiday gifts year-round to balance out my budget. This way if I do want to get a couple bigger ticket items, it’s less overwhelming when the holidays arrive.

I like to use this rule of thumb when shopping for others: is it clutter and will they find use for it? I was once gifted a gorgeous crystal picture frame. It was very expensive and lovely, but I had no use for such a nice piece. It became clutter and I ultimately donated it.

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9. Use (discounted) gift cards!

If you plan your outings in advance, often times you can get discounted gift cards that work just like cash from Gift Card Granny or Plastic Jungle. And hey, your friends don’t even have to know you gave the gift card to yourself! Pro-tip: you can also use this as a gift idea for your friends!

10. Create your own social events

If you have a certain skill that your friends always say they’re jealous of, like cooking or decorating, use it to your advantage. Host a day of teaching your friends how to be great at that thing and you won’t have spent a dime! It’s a free way to have a busy social calendar and also be known as the helpful friend.

Like anything in life, saving money is easiest when done with support. Let your friends know what your goals are and ask them to encourage you when you want to make poor spending choices. Looking out for your financial health is nothing to be embarrassed about!

Reference

More by this author

Heather Poole

Technical writer

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Published on April 25, 2019

How Creativity Can Help You Get Ahead in Life

How Creativity Can Help You Get Ahead in Life

Have you ever felt limited in your abilities to do something you really wanted to pursue? Maybe it was an ambition you had, or an idea to start something. Perhaps it was an opportunity that came your way, but you weren’t able to take it because something held you back.

Often, we’re unable to progress towards our goals because such obstacles stand in the way. We let our limitations stop or overshadow our abilities to see through to a goal.

Yet, there’s one thing that we rarely think of to use when trying to overcome limitations.

Creativity.

What is Creativity?

When I say creativity, I’m not talking about an innate talent. Creativity is a much needed, but often neglected, skill that everyone has! It’s a skill with huge leverage that allows you to generate enormous amounts of value from relatively little input.

Creativity at its heart, is being able to see things in a way that others cannot. It’s a skill that helps you find new perspectives to create new possibilities and solutions to different problems.

Everything, including brilliant inventions, cannot come from nothing; it all derives from some sort of inspiration. Creativity works by connecting things together in order to derive new meaning or value.

From this perspective, you can find creativity at play in many areas.

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For example, Mark Zuckerburg rapidly became successful by taking the previously existing concept of social media, and combining it with an incredibly simple interface that appealed to a much wider audience. Uber and Lyft combined the idea of a traditional taxi service with an incredibly efficient smartphone app.

Both of these examples connect different ideas, find common ground amongst the differences, and create a completely new idea out of them.

That’s creativity in a nutshell, and anyone can improve theirs.

Limitations are Actually Opportunities

The advantage of using creativity, is to help you see limitations as opportunities. Take any limitation that you may find yourself facing, is there a way to look at things differently?

Let me illustrate with an example.

On the day of my son’s 5th birthday, my wife and I arranged a party for him at a children’s adventure park. His friends and family were all invited, and the plan was to have a long, fun day out to celebrate.

However, the day didn’t go exactly as planned…

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At Lifehack, we pride ourselves on a healthy work-life balance, so I wasn’t concerned about taking the day off to celebrate. But, on the big day, a call came through to my phone.

It was a manager from Lifehack. He excitedly told me that a group of investors were quite interested in our business proposition, and were wanting to meet later that day.

This was great news! A potential investment could be coming our way. But, I was already miles away from home and the office. Plus, it was my son’s birthday…

I asked if I could call him back once we got settled into the park.

To be honest, I was pretty certain I was not going to be able to make it. Asking to reschedule would be a risky request, but there was no way that I was going to miss my son’s party.

My son could sense something was off, and he asked me what was wrong. So I let him know that I just received a call about a meeting today, but also told him not to worry as today was about celebrating his birthday.

But like all kids, he continued questioning me…

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“But daddy, is it important?”

“No, of course not,” I bluffed.

Then, with childlike intuition and creativity, he asked: “Can’t you just meet with them at the park?”

And, then it struck me! This was the idea that I was missing.

Even though my son didn’t quite understand that it would not be possible for the investors to meet me at the park, it made sense for me to simply do a video call!

I could miss 25 minutes of the party to do a quick call while the rest of the party walked through the aquarium. And, in the end, that was exactly what happened.

I called back my teammate and asked him to briefly explain to the investors why I couldn’t be there in person to meet, but would be happy to join via video. I took the call, and was able to spend the rest of the day at the park with my son.

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Not only did my son enjoy his birthday, his simple idea led to a successful investment meeting that allowed us to get funding for a new project.

This is where I was able to turn a limitation into an opportunity that enabled me to reach my success.

Creativity is One Key to Success

When you use your creative ability to turn your limitations and setbacks into opportunities, you’ll find doors opening for you in areas you may have never imagined.

Remember, your attitude is also important when it comes to achieving a goal, and tackling a setback or problem. That’s because a positive attitude transforms not just your mental state, but your physical and emotional well being. It is the key to lasting total transformation.

Check out this article to learn more about how you can tune your attitude towards positivity.

So, the next time you’re feeling limited by your abilities, setbacks or challenges, don’t give up. Really look at the situation, and see how you can leverage on your creativity to find an alternative solution.

Featured photo credit: Photo by William Iven on Unsplash via unsplash.com

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