When you as an individual or family choose to tighten your budget in order to eliminate the pangs of debt, you can easily find yourself in situations with friends or family members that will tempt you to spend outside of your budget. In these situations it can be difficult to stick to your financial plans while at the same time communicating gracefully that you’re looking to cut expenses. If this describes you, here are some ways that you can navigate discussing a tight budget with others.
Come to terms with your budget.
Before discussing your financial situation with others, it’s important to have a firm grasp on what your new budget involves and why you are budgeting in the first place. Becoming firm in your stance to keep a budget and becoming well acquainted for the budget you have created for yourself will help you say ‘no’ in the future when you need to.
Be honest.
Finding other excuses not to join friends and family members on expensive plans will only hurt you in the long run. You’ll likely receive additional invitations in the future that you’ll also need to decline, and coming up with additional excuses can only become overwhelming. Be upfront about your financial situation—without including details that you feel uncomfortable sharing—and your loved ones will likely be understanding. If you have a time frame in mind as to how long you will remain on your current budget, it also helps to let others in on when you might be willing to make the occasional splurge again.
Remain confident.
How you discuss your budget will have a significant influence on how people respond. If you state confidently and matter-of-factly that you and your family are looking to cut expenses one month, then friends and family members are less likely to pressure you into stepping outside of your budget. If, on the other hand, you aren’t direct about cutting expenses, you might find yourself in an uncomfortable conversation where you are being asked to detail your financial situation and intentions.
Offer an alternate plan.
Saying ‘no’ to an expense that family or friends are encouraging you to make need not make you the odd one out. Mitigate what might otherwise be an awkward situation by offering an alternate plan. If you’ve been invited to dine out at an expensive restaurant, for example, offer instead to host your friends or family members for a nice, yet simple dinner at your home. If you’ve been asked to join family or friends on a family vacation, offer instead to do something fun and inexpensive in town.