I read an interesting article done by Amy Shearn for Oprah.com which listed 7 people who you need to cut out of your money life. What got me was the fact that I knew someone for each of these 7 people. Surely I am not alone and you may have a bit of trimming to do as well.
Person one: The Mooch
This is the friend you know who has gone through some financial troubles and out of feeling sorry for them you shouted them a lunch or dinner. That one time rolled into multiple times from celebrating a new job to providing support for a breakup.
Whatever the cause you aren’t the one that needs to be their financial saviour and by now they should be able to pay their own way. When the next bill comes around just put down your share and pass them the remaining bill (make sure you pick up smaller bills before you go out).
Person two: The Average Accountant
Whether this is a family friend who has been doing your tax return or someone who never seems to get you a refund it might be time to switch accountants. We realised this recently upon doing our yearly tax return when we found we could barely communicate with our accountant.
Finding a trustworthy, qualified person who can take away the burden and stress is important, especially if you want to try and make back a dollar or two.
Person three: The Purchase Pusher
I think we all have one of these shopping buddies-the one who convinces you to buy things you don’t need based on something being worth it, because it’s so lovely or because you deserve it. Sure they are a fun person to shop with but you end up wasting your money.
Try going shopping with your frugal friends instead and keep the purchase pusher for lunches or a coffee.
Person four: The Aspiring Artist
Ok when I read this one I lol’d to myself because it reminded me of an old manager who bought in her own jewellery designs to sell to her team. This is the person who always aspired to be something else and is trying to do it on the side.
Whilst you want to support them it is not your job to fund their little side business. Rather than fork over money for earrings you will never wear, tell them you will send a note to all your friends about their business.
Person five: The Fairy Godmother
You may be waiting for the day when some rich relative will leave you money or simply just thinking that some miracle person will come and pay off your bills. Whilst the relative one might happen you can’t count on it. And Fairy Godmothers just don’t exist (sad but true).
Person six: The Cashless Carrier
This is the person that is way ahead on the techno gadgets, probably paying for everything with their app on their new nifty way too smart phone. Whilst this cashless world is coming there are many places which only except cash or have limits on card transactions. These are the places where you have to front the money for your cashless carrier only to never be refunded.
Tell them you don’t have any cash on you or let them know where the closest ATM is.
Person seven: The Two Year Engaged Couple
Ah so much time to fit in so many different events: Engagement Party, Bridal Shower, Hen’s Holiday, Hen’s Night, Bucks Night, Buck’s holiday, Destination Weddings-the list goes on. Nowadays the lead up to the wedding is bigger (and more expensive) then the actual wedding.
If you have been asked to be a bridesmaid you may need to evaluate before accepting. And I mean really evaluate so you aren’t forking out thousands of dollars on an event that isn’t even for you.