Saving money with friends is not as tough as you might expect. To celebrate the International Day of Friendship, we are delving into why you should talk finance with your buddies and how you can get social without spending. Scroll down to know more now.

What Is the International Day of Friendship?

The International Day of Friendship is an event created by the United Nations to remind us about the importance of human solidarity and social harmony. Friendship is critical for us as humans, and July 30th is a day to get together, reflect and have fun.

This international day is celebrated all over the world and has been a UN staple since 1997. So, before the month ends, make time to see your nearest and dearest friends!

Can You Save Money and Have a Social Life?

It often seems like saving money and meeting friends are two concepts that cannot exist together. But this couldn’t be any further from the truth.

Meeting up with your besties doesn’t have to involve a big bill. There are plenty of activities and things to see that don’t cost a penny.

We have done the research, so you do not have to. But before we list the best cheap things to do with friends, we think it is important to remind readers that being honest about budgets and financial planning is important in friendships.

The more we talk about saving money and personal finances, the more the stigma around them goes away. It also helps us all learn more about finance, thus making us better at saving money and building a secure financial future.

Of course, you do not need to give your besties your exact bank balance. However, talking about wanting to spend less is a good place to start.

How To Have a Social Life and Save

Whether you are trying to save for a holiday or want to start paying off debt, we are here to help. Here are the best ways to save money on your social life so you don’t miss out on the fun.

1. Skip the Food (or the Drinks)

If your usual night out with friends includes dinner and drinks, you might want to scale it back to drinks-only. Frequent meals out can quickly add up, so pivoting to a few cocktails or pints will make your bank account smile.

Alternatively, if you are a group of foodies, consider cutting out the alcohol. Depending on your order, a few tipples can easily add up to a significant sum. Alcohol-free might be the way to go.

2. Look For Free Events

Looking for free events might seem like a no-brainer, but most people skip this step, assuming that free events aren’t that great.

However, this could not be further from the truth. From local festivals with free entry to social meet-ups, free events are booming. Plus, there are always more options in the summer — so do not let these get away.

3. Games Nights

Dust off the Monopoly board. It is about to get serious.

Board game cafes are another 2024 trend that can dent your wallet. However, most of us have a collection of games sitting unused at home.

Invite your friends for a night at home with cheap drinks and homemade food and let the competition commence.

Other Options For Saving Money With Friends

Cut your spending without cutting your social life. Here are some extra ways to hang out without spending:

  • Get active and explore the great outdoors
  • Swap to second-hand stores on shopping trips
  • Buy snacks from home for the cinema or sports games
  • Use discounts and coupons
  • Try cinema days at home with streaming services

There are plenty of ways to save on this International Day of Friendship.

And remember, you always have the power to say no to expensive suggestions. Too often, we agree even when we know it does not work for our budgets. It is time to change the game and be transparent about finances. Once mentioned, your friends will likely agree!

Visit the Cash ASAP blog to learn more about personal finance today.