How to Stop Spending Money You Don’t Have – Find the Right Friends


If you want to stop spending money you don’t have, you need to find the right friends. These tips for friends and money will help you stop spending money while keeping your friendships intact.

Before the tips, a quip:

“Given the choice of friendship or success, I’d probably choose success.” ~ Sting





Luckily, with these tips for friends and money, you don’t have to choose between friends or financial success. You can have both!

If your friend is a money leech, read Isn’t It Their Turn to Pick Up the Check?: Dealing with All of the Trickiest Money Problems Between Family and Friends — from Serial Borrowers to Serious Cheapskates.

How to Stop Spending Money You Don’t Have

The first thing to remember is that you won’t stop spending money if you’re not committed to achieving your financial goals. Your first step — and I know how boring this is, but it’s important! — is to prioritize what’s really important to you. And right now, what’s important is making sure your money and friends are well-suited.

Do you want to keep up with your friends’ spending habits, or do you want to stop spending money on stuff you don’t need and can’t use? It’s up to you, my friend.

Once you put achieving your financial goals at the top of your list, you’re ready to put these money and friend tips to work…

Find friends who want you to achieve your money goals

“One of the hardest things to deal with once you decide to live on a budget, change how you’re using your money, and modify your life is finding people who are friendly to your new goals,” writes Gail Vaz-Oxlade in Debt-Free Forever: Take Control of Your Money and Your Life. If your friends don’t care how you spend money and aren’t interested in helping you achieving your goals, you don’t necessarily need to end your friendship. Instead, find friends who support your dreams and goals. Spend less time with friends who don’t care about money and more time with friends who encourage you to reach your goals — and who are achieving their own financial goals.

Get savvy about money and friends peer pressure

Peer pressure happens to everyone, regardless of age, occupation, societal status, financial income, gender, or location. One of the best tips on how to stop spending money with friends is recognizing that you’re trying to keep up with your friends’ purchases, entertainment, activities, etc. For instance, are you buying an iPhone or big screen TV because you really need one, or because your friend is bragging about hers? Do you spend more money in restaurants everyday because of what your friends or coworkers might think if you brown-bagged it? The sooner you recognize the difference between peer pressure and your authentic self, the sooner you’ll achieve your financial goals.

Spend time with friends you trust

Gail Vaz-Oxlade says the social pressure to conform — whether it’s money habits, spending money on clothes or tech apps, or drinking overpriced lattes — often comes from our friends. They may not consciously want you to spend more money, but if they don’t bat an eye at buying expensive clothes, cars, or critters, then we feel pressured to do the same. It’s not an overt pressure, but it affects our spending habits. If you really want to know how to stop spending money with friends, you need to spend as much time as possible with people who are debt-free, who don’t buy expensive stuff for their homes, and who don’t ignore credit card bills or their inability to pay them in full.



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Spend time with friends who are money conscious

Think about your friends and money — what conversations do you have about financial goals, spending habits, saving money, or credit card debt? A true friend will help you achieve your financial goals and by sharing smart ways to save money. She’ll point you in the direction of the best deals, ideas for cutting costs, and ways to have fun for free. It may take time and effort to find friends who don’t want to spend money and who want to achieve financial goals, but it’s worth it!

For more ways to stop spending money, read Money and the Law of Attraction – 4 Ways to Attract Wealth.

Do your friends encourage you to spend money you don’t have? Comments welcome below.



SheBlossoms Laurie Pawlik Kienlen


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4 thoughts on “How to Stop Spending Money You Don’t Have – Find the Right Friends

  • Laurie Pawlik-Kienlen Post author

    Hi Sam,

    Yup. Spending money you don’t have on crap you don’t need or want is the worst way to save money! I can’t believe how much junk people buy, and how much money they spend on it.

  • Sam Roberts

    I like your tip in one of your more recent money articles, about not buying crap you don’t need. That’s the best way to stop spending money you don’t have, if you ask me. Don’t buy junk because you’ll just throw it out anyway!

  • Laurie Pawlik-Kienlen Post author

    Thanks for your comment, Sydney! That’s great that you’re teaching your friend how to save money. Friends can encourage us to spend money we don’t have…and it’s clear that they can also help us save money 🙂

  • Sydney Thomas

    Great article. I have a few friends who love to eat out and although I enjoyed it, that lifestyle doesn’t fit my new financial goals. With one friend in particular we’ve been able to strike a compromise – We only go out to eat once a month and it has to be someplace that has a half-price or by-one-get-one-free coupon. As it turns out, she likes the fact that she’s saving some money now too!