FOMO! The fear of missing out can occur when it comes to not attending social events or activities with friends. That fear can be even worse when the event costs money. You must remember, everyone’s current financial state and goals are unique to them and if you must decline an offer due to finances, are you prepared to discuss with your friends?
Start the conversation with your friends by using one of these strategies:
- Be Truthful: Your friends will understand. You don’t need to go into details but letting them know you cannot afford an activity or event due to the price is acceptable.
- Suggest an alternative: What are other low-cost or free opportunities you can take advantage of to have a good time with friends. OUAB and d-tix are a great place to start.
- Use a goal: “Thanks but I’m saving for a study abroad trip”
You may feel bad about having to decline events or tell your friends no, but ultimately you are taking charge of your financial wellness. Real friends will understand.
Don’t forget that budgets are made to be flexible too. If you’ve done the hard work to ensure that you have savings, an emergency fund and a good budget, you may want to indulge in something that pushes your budget a bit. Is it a once in a lifetime opportunity or an experience you’ll never forget? It may be worth it for the memories and that is money well spent.
Looking to learn more about budgeting, credit cards, student loans or other financial topics? The Student Life Student Wellness Center offers free, peer-to-peer, financial coaching. You can learn more and schedule an appointment online by visiting the Student Wellness Center website.