If you are in a circle where you discuss money freely, you might be the lucky exception to what I’m about to discuss here. Unless you make roughly the same amount, telling your friends how much you are worth is usually not a great idea.
Sure, there may be a few telltale signs – a fully paid vacation, never complaining about money, never having to worry about paying bills, always being on top of your bills, etc. – that may betray your worth, but have you ever told your friends exactly how much money you have? I bet not. And you wouldn’t want to, for the following reasons.
Some Friends Will Have a Hard Time Accepting the New Status Quo
Let’s say you have been hanging out with your broke/non-frugal friends for a long time, sharing bills and everything…then, they come to learn that you have way more money than they ever hoped to have. Do you think this relationship will remain the same? Will you keep forcing yourself to stay poor to keep them? Some friends may stop talking to you, while others may start acting weird around you. Some may drop off completely.
They Might Think You Are Bragging
And they would be right. Who goes around announcing to their friends how much they have? It would seem as if you are bragging. Unless the conversation came up naturally and one of the friends genuinely sought financial advice from you, do not volunteer information about your finances to friends who seem to be struggling. They will think you are bragging.
It Is Humane To Feel Envy
Your friends may celebrate your success, but remember that they are human beings and will certainly feel envious of your position. Things may get a bit weird.
It Makes It Hard To Organize Group Activities
Now that the friends know of your financial status, they will be looking at you to suggest places to go before assessing if these places are too rich for their blood. If you are used to chipping in for trips and adventure, be prepared to be contributing the largest chunk. After all, you can afford it, right? If you were stingy in such activities before, things will become uncomfortable because everyone will start thinking you were deliberate when you could easily have afforded it.
Some May Not Want To See You Succeed
Be prepared to lose some friends because not all will genuinely celebrate your financial success. Some will opt to drop from your circle rather than try to keep up with you. Others may stick and be happy for you, irrespective of their financial status.
Some May Feel Inadequate
When you are broke, even the little things we took for granted start to become luxurious. The two beers you bought at the pub when you met with your friends may start to seem like a luxury. If you have such friends close to you, they might feel inadequate since it is hard for them to tell you that they cannot afford. Others opt to keep quiet and drop out of their social circles.
Your Care Will Be Taken To Be a Pity
Some friends will begin self-reflection, and an inferiority complex may start to kick in. If you volunteer to bail them out on something, that would have raised no issue before they start thinking you are doing so out of pity.
They Fear You Will Start Judging Their Financial Life
Some may start being financially conscious around you. They will no longer spend money as freely as they used to since they feel that you may think they are being financially irresponsible. You will find yourself covering most of their bills whenever you meet as a group.
10 So-Called “Frugal” Habits That Are Actually A Waste Of Time And Money
Do you know any things that people do that they think are frugal but actually aren’t saving them money but sometimes are just wasting their time and money?
I am sure you have read articles and tips that promote frugal living and give some ideas that are just not frugal! These frugal myths float around and sometimes even cost people a lot of money!
12 Extreme Frugal Living Tips You Can Try
A Reddit user was curious to know the extremely frugal things people did that they didn’t tell people about. He gave an illustration that he used to collect promotional coffee sachets on top of car windows and that saved a ton of money. He wanted to know whether other Reddit users did extremely frugal things that they did not want other people to know.
15 Tips For Frugal Living On A Tight Budget
If you are looking for tips for frugal living on a tight budget, this post is for you.
Being on a tight budget means looking for even the slightest opportunity to save money. It could be saving to clear your loans, for a bigger purchase, or even for early retirement.
12 Extreme Frugal Living Tips You Can Try
A Reddit user was curious to know the extremely frugal things people did that they didn’t tell people about. He gave an illustration that he used to collect promotional coffee sachets on top of car windows, and that saved a ton of money. He wanted to know whether other Reddit users did extremely frugal things that they did not want other people to know.
12 Not Very Obvious Sign That Someone Is Rich
It is easy to know when someone is rich. However, sometimes it is not obvious. One Reddit user wanted to know what non-obvious signs pointed out that someone was rich. We have sampled some of the best responses from other Reddit users in that conversation.
This article was produced and syndicated by A Dime Saved.