The young kids go through a lot of spending peer pressure. The places where they eat, the brands that they buy, the shops that they buy from – all are ‘peer-decided’.

However many of these kids go through a lot of stress. 2 girls earning Rs. 25,000 per month may be having very different needs! One girl who supports her family of 5 vs. the daughter of a big successful man. Sadly, if they are working together, there can be tremendous stress at common functions.

Let us see what can be done:

1. Make a Socialising budget: Let us say you wish to spend 10% of your income on ‘fun’ activities. In the aforementioned case, your budget comes to about Rs. 2500 a month. Let us say out of this you have reserved Rs. 500 for you to spend with your family. That leaves you with Rs. 2000 for 4 Saturdays. Not bad. However your budget is ONLY Rs. 500. If your friends go to a pub with a cover charge of Rs. 3000 what do you do? break the bank?

2. Tell your friends about your ‘social budget’ and why you will NOT BUDGE from that figure.

3. Remember there is an awesome life OUTSIDE of money.

4. Tell your friends that “I am saving for a goal’ – I want to buy my brother a laptop or I am planning to buy an air-conditioner for my parents. Whateva – but convey it strongly. People will appreciate.

5. Say you guys are great and awesome, but here is an alternative – BECAUSE I have other priorities…

No. IT is not easy. Especially if they “promise” that it will never happen again. However, like “no drunk driving” – some of these financial rules should be like that.

When your friends spend a lot of money – or you think they are going to spend a lot of money – just stay away. Slowly they will take the hints. Do not try to mix in a social circle where the average spending is far more than what you can afford to spend, change the group IMMEDIATELY…

 

  1. Thats so difficult to do, even for adults. I always advise friends to live in localities where others are either in the same or lower economic strata. You may be able to afford an apartment in a “richer” locality, what will kill you is maintaining the lifestyle

  2. Subra, why not an article on peer pressure on marriage. When, How, Whom, etc all result in peer pressure put on by the society.

  3. Great Post about society pressure and how to handle that pressure. The young kids must read this article for a change in their lifestyle.

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