5 ways to spend time with friends for less

Catching up with friends is one of the great joys in life, but it can often be expensive.

Socialising doesn’t always feel like “real” spending.

The odd coffee here, a meal out there, and maybe a few drinks at the weekend.

It always feels manageable and realistic.

But over the course of a month, the cost can quickly add up.

New research from Standard Life shows that UK adults spend an average of £375 a month on socialising.

That’s a lot of money if you’re on a tight budget, so naturally, it’s become a bone of contention for some people.

In fact, almost half of us (46%) admit they’ve resented the money spent on meeting friends.

So if you’re worried about what you’re spending, how can you stay connected without blowing your budget?

1. Swap nights out for nights in

You don’t have to go out to spend time with friends.

Why not take it in turns to host at home, with each person bringing a dish or some drinks?

And if you want more than a natter, add a few activities like games, a quiz or a movie marathon.

You’ll still get the precious time with friends, but without the high bar prices.

2. Suggest daytime plans instead

Meeting up in the day could cost you a lot less than an evening out and opens up loads more options for places to go.

For instance, you could swap the expensive cocktail bar for a nice coffee shop.

Or maybe instead of paying for food and drink, take a picnic and venture out for walks in the park or countryside.

Going out in the daytime could also help you save money on transport.

For example, you might be able to get a bus or train back home instead of a taxi, and if you do get a cab, the fare will be cheaper than at night.

3. Be honest about what you can afford

It’s really interesting that so many people resent spending so much money on socialising.

On the one hand, it means lots of people feel this way.

But on the other, it suggests very few are actually saying so, and that they’re spending this money because of social pressures.

So it’s important to be honest with your mates if you feel you’re paying more than you can afford.

Whether you’re struggling with debt or just trying to save a bit more, you don’t need to share every detail.

Real friends will understand if you need to tighten the purse strings for a bit.

4. Set a monthly social budget

If you don’t want to give up those precious hours with friends, work out what you can afford and stick to it.

That could mean choosing cheaper places or meeting up once a month instead of once a week.

It might also mean saying no to certain venues or activities if they take you over budget.

But if you know how much money you’ve got available for socialising, you can make choices that don’t leave you feeling resentful and guilty about going out.

And you can also include it in your wider household budget, so other financial priorities like paying bills and saving for the future don’t get forgotten.

5. Rethink big group events

If you’re feeling weighed down by the cost of a friend’s big occasions, such as a stag or hen do, then don’t feel pressured to take part.

Ask if there are cheaper options that let everyone in the group feel able to join in.

Or just attend part of the event rather than the whole thing.

Again, your close friends should understand if you’re unwilling or unable to spend huge sums of money on a single occasion.