Do you have financial friends? If you don’t, you should get some. Being around liked minded people will help to smooth your personal finance path.
You are an amalgamation of the five people you spend the most time with. Think of those people. Are any of them financially responsible? Are any of them materialistic? Adults though most of us are, we can still be influenced by peer pressure.
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Peer pressure can help you to make good decisions. If you have frugal friends, they understand when you can’t afford to go out to dinner and are happy to split a pizza at your place. It can also cause you to make bad decisions. If you have baller friends, they choose the expensive restaurant and you agree then spend way more than you can afford.
Your friends don’t have to be financial ninjas to qualify. Not everyone has a Warren Buffet in their life to go to for money advice. You can both be starting from zero but as long as you’re learning together and keeping each other accountable, it is still a bolstering relationship.
Immersion is the best and fastest method for learning nearly anything, including personal finance. Listen to this podcast, read the Wall Street Journal, talk with your friends, family, and co-workers about money. By giving it a prominent place in your life, it is easier to stay on track.
If you find yourself with no financial friends, you can convert your existing friends. I start by showing people Mint. Then I introduce them to the podcast and Betterment. It hasn’t worked on everyone but it has worked. And converts always make the best zealots.
You can be the one to initiate the uninitiated into this whole thing.Tweet This
You and your financial friends don’t have to discuss money the entire time you’re together. It’s not the most exciting topic even if it is one of the most important. But all this money stuff gets easier when you surround yourself with a support team.
Schneider Weisse Aventius: A deep and complex wheat dopplebock.
Leinenkugel Octoberfest: A fall beer with toasted caramel malts.
Mint: An easy first step to managing your money.
Betterment: The easy way to invest.