Reach Money Goals Faster by Choosing Your Friends Carefully

Choosing your friends can help you reach your money goals faster – or stop you from reaching them at all! Your friends affect your financial prosperity, whether you’re paying off credit card debt, saving money for a home mortgage loan, or scraping enough money together to start your new business.

These tips will help you recognize which friends you need to hold on to, and which may be holding you back.

Before the tips, a quip:

“When it is obvious that the goals cannot be reached, don’t adjust the goals, adjust the action steps.” ~ Confucius.

If you’ve been struggling to reach your money goals for a long time, you need to reconsider your plan of action. Read Debt-Free Forever: Take Control of Your Money and Your Life – it’s a practical, helpful source of information. And, here are five ways friends can help you reach your financial plans for the future…

Reach Money Goals Faster by Choosing the Right Friends

These five tips will help you tune up your friendships…

Stick with the friends you don’t feel the need to impress

“We decide we want to be debt-free,” writes Gail Vaz-Oxlade in Debt-Free Forever. “Yet we go out and charge up a storm, buying expensive stuff for our homes, our friends and family, ourselves, ignoring the fact that when the bill comes in, we won’t be able to pay it in full. If it’s common sense to only spend what you can afford, why do so many people spend money they don’t have?” She says it’s the social pressure to conform – which we get from our friends. They may not even do it consciously; if they buy expensive clothes, cars, and critters, then we feel the need to ante up.

To reach your money goals faster, surround yourself with friends who have similar views on personal finance and household budgets.

Figure out peer pressure versus your true needs and wants

Even 70 year olds succumb to peer pressure – it’s not just for teenagers! Are you buying an iPhone or big screen TV because you really need one, or because your friend can’t live without hers? Do you go out for lunch every day because your coworkers or friends do? Do you go shopping and purchase items because you need them, or because your friends are shopaholics? The sooner you can identify the difference between peer pressure and your authentic self, the sooner you’ll reach your money goals.

Be aware of how your friends’ money perspective affects your relationship

“If you and your partner are at odds, if one of you is allowing peer pressure to throw the family budget out of whack, you better sit down and figure it out before you end up divorced and broke,” writes Vaz-Oxlade. Sometimes friends who hinder your attempts to reach your money goals are also hurting your marriage or relationship…which can be far worse.

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Identify your “goal-friendly friends”

“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 Vaz-Oxlade in Debt-Free Forever. If your friends sabotage your financial goals, you don’t necessarily need to dump them…instead, find different, non-monetary, low pressure ways to spend time with them. Increase the amount of time you spend with the friends who do encourage you to reach your goals.

Recognize what goal-friendly friends do

A friend who will help you reach money goals will share 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. Goal-friendly friends don’t believe you need to spend money to enjoy life fully – and they celebrate your financial victories with you.

If your friends keep asking to borrow money, read When It’s Not Smart to Loan Money to Someone You’re Close to.

Laurie's "She Blossoms" Books

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Growing Forward When You Can't Go Back offers hope, encouragement, and strength for women walking through loss. My Blossom Tips are fresh and practical - they stem from my own experiences with a schizophrenic mother, foster homes, a devastating family estrangement, and infertility.

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If you have any thoughts or questions on reaching your money goals faster or friends that help or hinder, please comment below…

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3 thoughts on “Reach Money Goals Faster by Choosing Your Friends Carefully

  • Laurie Pawlik-Kienlen Post author

    Thanks for your comments – I really believe your friends can stop you from reaching your money goals!

    Mophen, this article might help you find more financial opportunities:

    What is Residual Income? How to Make Money Without Working

    And if you have a blog, read

    10 Tips for Monetizing Your Blog

    All good things,

  • Emily

    I found a great website called’s a clever website for family and friends, who each contribute matching funds, then Vote for the person they think deserves to have a credit card or bill paid…check it out.

  • Mophen Gordon

    i find your tips very constructive and i believe will lead into success.
    i have one question asking about how to raise financial opportunities in life