How Your Friends and Family Could Be Hurting Your Money Habits

Your Tribe Determines Your Vibe

Back when I was in my late teens and early twenties, like a lot of people I didn’t always make the best decisions. Drinking too much, staying out too late, chasing girls, ignoring my responsibilities. These were things that seemed normal at the time for a group of 20-year old college guys, but looking back on it now I was wonder what the hell I was thinking sometimes. Not to say that I’m perfect now, but my attitude and actions have definitely changed.

For example, back in college and for a the first year after I graduated, spending 3 nights a week at the bar was just normal. That’s what all of my friends did so that’s what I did too. Now almost all of us have progressed out of that stage in our life, but at the time we didn’t question it. The people we were spending time with were creating our definition of what “normal” was. It’s not until you are out of this scenario that you realize it probably wasn’t the best choice for your health or well-being.

The tribe of people I was used to hanging out with was creating the vibe in my life.

 

Who Do You Spend The Most Time With?

All of us have friends, family and acquaintances that are probably not the best influence on us. Whether it’s people that drink too much, spend all day playing video games or spending all of their money on things they don’t need to impress people they don’t even like (name the movie). Whatever it is, we tend to emulate the people with whom we spend the most time, even without realizing it.

When it comes to money, this can be especially difficult. You may be working hard to stick your savings plan, however, when those friends call you up to check out the new restaurant in town or spend an afternoon at the shopping mall, it’s so hard to say no. This is something I struggle with a lot because I never want to feel left out. You want to be included, you don’t want to miss out, but once your there, it’s so easy to give in and buy whatever your friends are buying, to splurge and reward yourself because that’s what your friends are doing. It’s not until you get home that you realize what happened and you may get angry at yourself for spending more money than you wish you had.

If you have problem with “keeping up with the Jones’s” then maybe you should stop spending so much time with the Jones’s.

 

This Famous Quote Could Greatly Influence Your Money Habits

 

“We are the average of the five people we spend the most time with.” – Jim Rohn

 

Jim Rohn is famous for saying this quote during his motivational seminars that helped people to achieve habits that formed their success. It holds true for just about every aspect of your life, whether it be your career, finances or relationships. If you want to be successful in business then spend time with successful business owners. If you want to have a great relationship with your partner then spend time with other couples who have healthy and happy relationships.

Now no one is saying that you need to start ignoring all your friends and telling your family that they are a bad influence on you. The most important factor here is to become aware that other people’s bad habits might be rubbing off on you. Your family can still be your family and your friends can still be your friends, but just be mindful of how much time you are spending time with people and the habits you may creating with them. When your broke uncle is giving you financial advice, just smile and nod, and then make your own decisions for your future.

Surround yourself with people who are better than you, smarter than you, richer than you in every aspect of life. If you want to lose weight, stop hanging out with your friends who eat junk food and pizza every night. Join a fitness club or a gym and make some new friends with trainers and fitness enthusiasts. If you want to stick to your new budget, stop going to the mall with your friends who buy everything in sight. Meet up with them later after they’re done with their shopping trip. You’re free to determine who you choose to spend the most time with, so choose wisely!

Could you benefit from being more mindful of who you spend your time with? What are your strategies for surrounding yourself with uplifting people? Leave a comment or send me an email!

NYPFGuy