Relationships & Spending

Happy Friday, folks! 

Last week, Misti shared her thoughts on social capital & how it affects our lives and finances.

Now that I’ve recently moved into a new community with my partner, it made me wonder how I can use social capital to benefit me & the others living here. 

Taking it a step further, it made me think about the relationships I have with other people.

I’ve moved six times in the past few years (oof) and many of those moves were across state lines where I’ve had to start from scratch making new friends.

But how do our relationships relate back to our finances?

And how do our connections in the community & with our given family affect our financial decisions?

First, we need to break it down.

💞 Defining Our Relationships 💞

We all engage in various definitions of relationships, each one with its own benefits and drawbacks.

But it’s important to recognize that no one group or person will fulfill ALL of our needs.

We do need a combination of some of the relationships listed below.

As we go through these categories, think about your own life and where your relationships fall within this spectrum.

Most importantly, think about how these relationships influence your spending & how individual relationships bring you fulfillment.

🤍 Chosen/GivenThe friends & partner you choose for yourself and the given family that chose you. These are your closest circle of friends & family and can have an intentional (or unintentional) impact on your finances. 

💖 Old/New: These are the friendships & relationships that go back as far as we can remember, and those we are just now meeting & beginning to develop. This is especially impactful to me right now! 

❤️‍🩹 Life-giving/Life-depletingThe people in our lives that fill our cup & have a reciprocate relationship with versus those that take without giving and drain our social battery. This is not a call to “cut off” life-depleting people, but it is a chance to explore our life-giving relationships and see how we can add more “life-giving moments” to our lives.

💰 The Impact on Our Finances 💰

Defining a few categories of our relationships are helpful when examining our finances because each different connection we have can impact us in different ways.

You may have old friends from college that want to go out to eat all the time or new co-workers who all want to contribute money for birthdays or themed office days.

Whatever the scenario is, there are ways our relationships can deplete us financially, and ways they can support us.

It’s up to us to recognize:

  • When to say yes. 👍 Because it’s aligned with my values AND my spending plan.

  • When to offer alternatives. 💸 Like “let’s do a packed lunch at the park instead”, or “I’ll pick up the flowers and write the card, but I can’t contribute money this time.”

  • When to say no. 🙅‍♀️ Because no is a full sentence.

Tuesday’s episode was a deep dive with expert Jeff Wetzler on how choosing curiosity can lead to a healthier relationship with our finances in episode 404 Asking Questions That Lead to Better Spending Decisions with Jeff Wetzler. 

We’re bringing back one of our favorite episodes today! Listen to episode 405 How Jen Paid Off $78,000 in 2 Years for Jen’s story & some fabulous debt payoff inspo.

Tune in wherever you get podcasts and let us know what you thought of the episode over on our latest Instagram post!

 Listen: To this fellow Midwest girlie, Chloe Elise, explore how relationships, traditions, and our thoughts affect our finances in the Deeper Than Money podcast. 

 Watch: For a deep dive into discussing finances with your partner, watch this TedEx Talk by Meredith Moore: The Right Way for Couples to Talk About Money.

 Do: With summer on the way, have you considered getting help with meal planning? I know I have! Get a FREE week of meal planning from Cooksmarts and avoid the dreaded “what are we having for dinner” question with ease. **

 Meal Plan: From spaghetti to subs, I’ve been on a serious meatball kick lately! Try these easy meatball sliders from Cooking in the Midwest for a quick & filling dinner.

Enjoy your weekend,
Kim

⭐️⭐️ P.S. Want to share all this goodness with your friends AND earn cool Frugal Friends merch?

**Means this is a sponsored or affiliate section. We may earn a small fee or commission when you choose to try one of our sponsor or affiliate partners. But opinions are still 1000% our ow

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