Make sure your social obligations fit your pocketbook

Many social obligations come with financial obligations, too. It is not only that you have to make time, you actually need to fit them into your budget.

Going to a baby shower, you have to take a present, a co-worker’s birthday prompts an office-wide collection of money to throw a party and get a birthday cake. And although these are all nice gestures, they can take a toll on one’s budget.

Narrowing down your social life and interactions can be a solution, but it might not be a popular one for you or your network.

Instead, you can think creatively in ways that helps you navigate these social events without breaking the bank. In most cases, it is all about planning ahead and trying to do your part without feeling obliged to match or top others.

Here are a few points to keep in mind.

Know your budget

You can’t foresee others schedules, birthdays, weddings, babies, etc. But what you can do is to know how much you can afford to spend every month on presents and gifts. With that in mind, you will be able to pick and choose what you want to participate in and use your budget accordingly.

In addition, this forward planning will help you prioritise your spending. For example, your brother’s housewarming gift may take precedence over a co-worker’s third child baby shower. In fact, you might sometime have to pass on an event completely if it appears to fall low on your priorities and well above your budget for the month.

Think of unconventional options

Don’t hit the mall every time you need to get a gift. Think of options that could be more affordable. Are there home-made gifts that are more affordable?

Some local artists and crafters might have options, too. Can you make something that if giftable?

Alternatively, think of regifting things that you received and are new.

We all receive things that we don’t really care about or want. If you do, set these aside and think of would be best to make use of them. In the long run you will purge items that you don’t want and make someone else happy to use them.

Another unconventional way is to donate your time. You might be surprised at how many couples would appreciate an evening of babysitting from a reliable friend, for example. A close friend might love the idea that you help out with chores or cooking if she is expecting a baby. The point is: Think outside the box, especially when you know the person and you know what they might appreciate beyond material gifts.

Say no, sorry

Sometimes you just have to opt out, especially if your network of friends has more financial resources and you can’t keep up. If you can’t afford another party this month, just opt out politely. You can say you can’t afford it, but in real life, you really don’t have to say anything.

Being an adult means that you make your choices. Avoiding financial stress is more important by all means than hanging out with friends — yet one more time. It might be discouraging for you to feel like you can’t keep up, but it is a choice you make based on your means.

Find other hobbies that keep you entertained and content when you have to opt out.

A monthly fitness membership may get you out of the house — at a low cost — and keep you healthy. Activities with family and other friends that take place around your home, or a potluck party, can be an option. So instead of feeling left out because you can’t keep up with others, create your experiences. You might be surprised how much you and others will enjoy those experiences without stretching your budget too thin.