Budgeting Babe: Don't Make Saving a Secret

The blogger says telling friends your plans can help.

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The Budgeting Babe recently posted some great spring saving tips for anyone trying to overhaul their finances before summer starts. My favorite is her tip to tell your friends what your money goals are, just like you would if you were trying to lose weight. Saying you want to save money can be embarrassing, especially if you're the only one trying to cut costs on that upcoming bachelorette party, but as long as it's all out in the open, it's easier to explain why you won't be spending $200 on Las Vegas show tickets.

Here's what the Budgeting Babe, a.k.a. Nicole Mladic, has to say: "If you were trying to lose 10 pounds, you'd tell your girlfriends, right? You'd want them to know why you've suddenly gone vegan and are committed to running a 10K in two months. And you'd expect their full support."

She continues:

Why shouldn't savings goals be the same? The next time you're out with friends, try this: "Ladies, I'm trying really hard to hit my savings goals this spring so I need to be extra budget conscious and I wanted you to know." The point here is that you need them to stop pressuring you to go everywhere and do everything, and be supportive when you can't. Once they know you're on a budget, you might need to suggest cheap eats or free group activities (lazy day on the beach, anyone?); true friends will gladly join you.

 I couldn't agree more.