How to Keep Social Spending Under Control Without Being a Killjoy

Fun times don't come cheap. If your bank account is looking decidedly unhealthy as summer approaches it could well be that your friends are to blame. Here are the top ways the National Foundation for Credit Counseling says your social circle could be driving you into debt. Last minute invites are hard to budget for and can lead to overdraft burn. Try to keep the meeting location within your price bracket and take out cash rather than credit cards so that you have a natural spending limit. The cost of birthdays can get out of hand quickly if you have a large friendship group. Try and pool funds for joint gifts or invest in an experience you can share together. Dining out in large groups frequently results in a horrendous tab when you end up splitting the bill. Look into set menus or bring your own alcohol locations that can keep costs down. Hosting dinners at your own place can also be a cheaper alternative. Destination weddings can quickly blow a hole in your bank account, as can new dresses and wedding lists. Group together with friends to share hotel room and gift costs. Companies like Rent The Runway can also give you a 'one night only' designer dress fix at a fraction of the retail price. Reducing the financial burden of social occasions means less time worrying about your credit card maxing out and more time enjoying yourself.