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Good Friends in a Tough Economy

Posted on November 23rd, 2009 by Amara Dumlao |

It is generally accepted wisdom not to share or borrow money from friends but there are a number of ways friends can help each other during these challenging economic times. Below are four tips for friends who want to spend more time together, while at the same time improving their individual lives.

Buying in Bulk

A cost warehouse card can be a great way to save money by buying in bulk. The downside to this system is that many of us lack the storage space to use these cards effectively. Buying in bulk together with a friend and then separating the items into manageable amounts can be a great way to spend time together and share savings.

Regular Potlucks

Instead of meeting friends for an expensive dinner at a restaurant, how about arranging a small potluck with friends. Recipes sites such as Foodista and All Recipes are great places to get started.

Sharing

Creating an exchange of movies, books, and magazines among friends can be a great way to have fun while saving. Sharing housing amenities with a close friend can also prove useful. For example, I workout once a week with a friend at her gym, and she does movie night at my house while using my washer.

Networking

With the emergence of online social networks such as Twitter, Facebook, and LinkedIn everyone is talking about the importance of networking. Friends are an important part of your network success and they provide a prominent means to find job opportunities, meet new work contacts, and make new friends.

Helping us celebrate our joys and supporting us during the hard times, friends are a critical part of our lives and with these great tips you can save money while spending even more with them.

Amara Dumlao is a Reviewer, Writer, Designer and Marketing Consultant. A graduate of the Eller College of Business Management at the University of Arizona and a former Banker, Amara combines global business savvy with creative real world financial applications.

A regular community volunteer, DIY enthusiast, social networking guru, and avid traveler, Amara believes in applying the wisdom of the past with the technology of the future to create a fulfilling balanced life.

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said on November 23rd, 2009 08:00 AM

Alicia says:

I love these suggestions. Before the recession hit I spent a lot of time going out to restaurants with friends. We're not only saving money by doing potlucks, I'd venture to say we're actually having more fun and honing our chefs' skills. I look forward to reading more of your ideas here.

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