Do friends cause overspending and debt?

Is it possible that your friends can cause you to go farther into debt or prevent you from getting out of debt? I’m about 100% positive that friends do contribute to the problem of debt.

Think about this question real hard and I’m sure you will agree with me. Now, I’m not going to tell you to never do anything with your friends or always turn down company, but there are ways to keep happy friendships without spending a ton of money.

I’m the first to be guilty of overspending when it comes to friends. It could be that we spend $50 or $60 on a dinner because your friends wanted to eat an expensive restaurant. Maybe it could be that your buddies wanted to go play golf at an expensive course. Could be that your girlfriends wanted to go shopping at an overpriced clothing store and you just have to have that $100 pair of jeans.

Think of those areas where you are overspending, is it because you really need or want those things or is it because you want to impress someone else? Is that $60 meal really that much better than a nice $20 meal? Is that expensive golf course that much better than the normal cheaper course? Does that $100 pair of jeans really feel that much better or last that much longer than a nice $30 pair of jeans?

If you really think about the reasons why we buy things you will probably realize it’s not because we really need them it’s because we are trying to impress someone else or just going along with the crowd. Really think about the reasons you spend your money and the consequences related to your actions and you might just save hundreds of dollars!