Friends are great. They cause you to go do things you would not otherwise do. They challenge you when they believe are wrong. They pick you up when you fail. Friends focus on making you get involved. Friends call all of your bluffs.
Friends have a heavy influence on our lives. As a result, we need to choose our friends wisely.
If you are hanging out with a group of friends that are financially irresponsible and spend absolutely everything they make plus some more, you can be swayed toward doing the same thing. Why? Because the things they are spending their money on are fun! A new car, awesome vacations, new electronics, awesome furniture … All of these things are FUN! However, if they are being bought with Capital One or at the expense of putting money away for KNOWN upcoming expenses like college, retirement, weddings, car replacement, property taxes …, then something is out of line!
Who are your friends? Influence them to manage their money in a way that will help them win too! Challenge them to consider the long-term impact of their decisions. Consider taking a financial class together (not a get-rich-quick scheme like "no money down, cash out all the equity" real estate).
A class like Dave Ramsey's "Financial Peace University" is a great place to start. If you are at NewSpring Church in Anderson, SC, you can sign up for our Financial Freedom classes. The cost is $20, and the course is 5 weeks long. If you want more information, send me a note here.