Are you guilty of pretending?
Pretending you are ‘richer’ than you are is a bad idea…a very bad idea. It only leads to financial disaster… your financial disaster. It is doubtful that any of those you’re trying to impress will help you get out of debt. Do not pretend. Do not do it.
Trying to keep up with others by spending on things you know you can’t afford, such as a more expensive car, or a bigger house, or gatherings you can’t afford to host, or pricey clothing, electronics etc, is a place where so many have foolishly put themselves. Oftentimes, their ‘friends’ disappear from their lives, but the nightmare of keeping up with payments for the ‘showoff things’ has dug such a financial hole, it can take years to get out, or sometimes things are just repossessed.
Even pretending on a smaller scale is not a good idea. Spending on dinners and drinks out with friends, buying ’rounds’, pricey gifts, even entertaining at home, may seem small at the time, but it all adds up and has to be paid for when due.
A potluck dinner where each brings a favorite food shares the cost is a fun way to get together inexpensively. Food items can be in a ‘theme’, Italian, casseroles, BBQ etc. Serving beer and/or liquor can be pricey. Entertaining with each bringing what they drink, and an appetizer/entree will be just as enjoyable a gathering. Or a brunch on a Sunday morning each bringing their favorite recipe dish is a fun and relaxing way to gather. Those who ‘have anything to squawk about’ can stay home. They will come around sooner or later, and join the group again, bringing their offerings too. Start a trend. You’ll be gathering, having fun, and making great memories.
Children’s birthday parties have become a major event! Jumping houses, bowling, arcades etc. are very pricey and not necessary. A pizza party at home, cake, ice cream and only a few best friends. Remember, each child you invite, is another gift you have to give when your child is invited to their event. The guest list and gift giving list only gets longer, and more out of hand financially, because everyone is trying to outdo the others. Get a few of the mothers together to discuss paring down guest lists. Then listen, you’ll hear a audible sigh of relief from them.
Be yourself. Don’t pretend. Live within your means, even if it’s meager. You’ll be happier and less stressed out. And you’ll have zero balances …… and, savings account(s).