Are your friendships breaking the bank?

One of Mr. Piggybanks’ friends recently returned from a three week work trip in Israel and came over to our place for drinks for a long-overdue catchup.

 

Having gotten to know his Israeli colleagues while on this work trip, cultural and social practices stood out like a sore thumb in contrast to what he was used to in Australia. What was normal for us to entertain him in our home and chat over a couple of drinks was completely socially unacceptable for young people to do back in Israel, unless you were dirt poor. Keeping up appearances took precedence over being financially stable, and young people were willing to splurge hundreds of dollars out at bars even though their wages were low, stress was overbearing and debt even higher than the West Bank Wall.

 

What seems shocking to a tourist who got the rare glimpse into the real life of Israelis runs scarily parallel to the lifestyles of Aussies, above all, Sydneysiders who splurge on lifestyle. The initial surprise at our friend’s cultural observations suddenly became a scary reality when I looked at my own ‘entertainment’ and ‘going-out’ expenses over the past year.

 

This had me thinking, are your friendships breaking the bank?

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Credit to Yoco Nagamiya

Last year, I spent over $7,500 in dining out and take-away and just under $2,500 in cocktails and alcohol. That’s $10,000 on socialising alone, averaging $833 a month. This year, I’m already hitting $1,400 in dining and take-away and $760 in drinks and alcohol, totalling $2,160 for close to half a year or $432 a month. The 50% drop in expenses attributed mostly to seeing these ‘party’ or ‘good-time’ friends less and spending my time doing other things (like starting this blog).

 

Do you always spend money to see your friends? Or do you do low-cost activities (whether intentionally frugal or not) like hanging out at each other’s home, going for a walk or hanging out at the beach? Are your friendships based on going out?

 

I’d love to hear your thoughts so please post below and don’t forget to hit the subscribe button 😀

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Credit to The Lust List

 

 

xx Miss Piggy

Cover illustration by Jenny Walton

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10 Comments Add yours

  1. Miss Piggy says:

    I thought I had replied but looks like I missed this comment! Sorry Tim! Spending all those hard earned dolla dolla billz on alcohol and going out is definitely part of being a younger social scene and having an active social life. Finding a balance between dining out and still socialising but in frugal ways is a challenge I’m ready to overcome!

  2. Thanks for sharing! Doesn’t surprise me though. The amount you spent that is. Spending money on eating out, alcohol, etc comes with the territory around here. Especially among the younger cohort. Most people I know spend more than they make; and most of it’s on stuff like eating out!

  3. Miss Piggy says:

    Funny I’ve actually read this post! Saw it come up on my WordPress newsfeed a while back. Great article and already making a list for this weekend!

  4. Miss Piggy says:

    Oooo thanks I’ll have a snoop around your blog and find it 🙂

  5. Abbie says:

    I’ll have a think and keep you informed! I did do a post recently of free weekend activities, I think it’s a few weeks back on my blog?

  6. Miss Piggy says:

    Hi Abbie! That’s great- I love how you’re all of the same mindset and happy to have a chilled, cheap and fun night at someone’s house.if you have any other fun frugal things you to post them here- I’d love to get some ideas!

  7. Abbie says:

    I’m lucky with my friends- any of us can call for a frugal night if we need it & the dinner out turns into a pot luck. And those nights are just as much fun! If I know I’ve got an outing planned, I just have to have a super frugal week, because I like to relax and enjoy the evening but I still need to stay within budget

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