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5 Ways to Overcome Peer Pressure to Spend

  March 5, 2019  |    #Eliminate Debt

Overcome peer pressure from your friends to spend

You’re at the bar and someone suggests a round of shots. Eventually, it’ll be your turn to buy, and for a million reasons you’d rather not spend your money. How do you overcome peer pressure to spend and say “no” before it’s too late?

Hear the 5 steps to overcome peer pressure to spend:

Overcome peer pressure to spend highlights

On today’s Queer Money®, we’re sharing five strategies to stand up to peer pressure and save money to pursue your hopes and dreams. We discuss the advantages of using cash as opposed to credit or debit cards and explain why it’s useful to have an entrance and exit strategy for enjoying a night out with friends.

We describe how Stephen Covey’s principle to begin with the end in mind applies to you, offering insight around how we prioritize our bigger goals to curb our margarita spending. Understand the value of an accountability partner and how to be upfront with your friends about your money goals as you overcome peer pressure to spend!

Do we want the margarita here, or do we want it on the beach in Mexico? – David Auten of Debt Free GuysClick To Tweet

Topics covered to overcome peer pressure to spend

1. Use cash instead of credit or debit cards

  • Envelope system with amounts for each category
  • People who use cards spend 12-18% more

2. Have an entrance and exit strategy

  • Don’t be first to arrive or last to leave
  • Make less expensive follow-up plans

3. Begin with the end in mind

  • Determine bigger life purpose and goals
  • Ask what’s most important to spend $ on

4. Don’t participate in drinking rounds

  • Know money goals and be upfront
  • Step away from the group, as needed

5. Have an accountability partner

  • Not alone in improving self financially
  • Friends want to support in reaching goals

Resources to overcome peer pressure to spend

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Go from anxious to confident with your money. Crisis proof your finances here.