How to Balance Your Savings With Your Social Life

Saving money doesn’t mean you have to sacrifice your social life; it just means you have to get creative in your thinking. Saving is all about flexibility and coming up with new ways to have fun, instead of trying to keep up with the newest technology or gear.
Man diving into pool

Embrace eating with friends at home

Restaurants are one of the prime spots for socializing with your friends after work or on the weekends, but constant trips to the nearest brewery will drain your wallet in no time. Instead, get your friends together for a picnic in the park or for dinner at home. This way, everyone can contribute something small (and cheap!) and you’ll still get that social interaction without wasting money.

Potlucks are also a great way to meet new people by encouraging your friends to bring people they know!

Exercise outdoors

Fitness magazines and personal trainers are actually steering away from trying to force everyone into the gym lately, and this is an instance where you should definitely heed their advice. Rather than plunk down cash on an expensive gym membership, get your workout in at nature’s gym: the great outdoors. There’s no shortage of trails to run and public parks where you can fit in your pull-up regimen. Don’t pay for something you can get for free.

Bargain travel

Travel is something that should never be sacrificed, and you shouldn’t forgo it just to save for retirement; let’s face it, some places need to be experienced while you’re still young. That means it’s time to trade in fancy hotels for crowded hostels and expensive restaurants for more authentic street foods. You’ll save money and have richer, more fulfilling travel experiences at the same time by interacting with more people.

When it comes to booking flights, you’ll often find the best deals by traveling off-season or finding a flight at night. It might not be as warm in Thailand during September as the summer season in January, but flights and hotels are much cheaper and a beach in 80-degree weather still looks just as good.

You can also stay in home exchanges for free if you’re willing to let a stranger in your home while you’re away, or you can get a timeshare.

Bargain shop

If you can’t get something for cheaper than list price, don’t buy or do it. Bargian websites provide great opportunities to try new things for bargain prices, so take the time to make a few clicks of a mouse and save while you can. Sites like these provide great discounts for fresh goods and services for anywhere between 10% and 50% off on a good day, so take advantage.

When it comes to shopping for clothes or household items, remember that everything doesn’t have to be brand spanking new; you can find great hand-me-downs at flea markets and overstocked inventory at discount stores. Furniture in particular can be bought on the cheap if you’re willing to get your hands dirty. Shop your local flea market for old antiques and turn them into unique pieces that fit your personality. A little paint and elbow grease can go a long way and save you quite a bit of money.

Learn to appreciate experiences

These days, far too many people are collecting things rather than appreciating moments and making memories. By turning this way of thinking on its head, you’ll find that you’ll likely leave the house more and save money at the same time. Search for free events taking place around your city and check them out! People tend to overlook all the great events happening in their area in favor of plunking down money for a night at the bar, but you can also see great stand-up routines for free in many places throughout the week or attend local meetups if you poke around online for a bit.

Disclaimer: Hey! Welcome to our disclaimer. Here’s what you need to know to safely consume this blog post: Any outbound links in this post will take you away from, to external sites in the wilds of the internet; neither Simple nor our partner banks, The Bancorp Bank and BBVA Compass, endorse any linked-to websites; and we didn’t pay/barter with/bribe anyone to appear in this post. And as much as we wish we could control the cost of things, any prices in this article are just estimates. Actual prices are up to retailers, manufacturers, and other people who’ve been granted magical powers over digits and dollar signs.