Do you go out partying every weekend only to end up with more holes in your bank balance than a golf course? Well, here are some money management tips for those nights out on the town.
We all love to party, don’t we? After all, we slave away at our desks for most of the week so our corporate masters may shower us with pieces of paper at the end of every month, which we use to numb ourselves into submission every weekend. Isn’t life on planet earth grand?
Sarcasm aside, we do work hard and it’s entirely understandable that we look forward to cutting loose every weekend and shake a leg or two. However, more often than not we end up getting carried away with all the revelry and end up spending massive sums of money that probably rivals the GDP of a small country.
While there’s nothing wrong with splurging a little bit every now and then, if you end up weeping over your bank balance every morning after you’ve dragged your inebriated carcass into bed, then it’s time to rein yourself in before you literally flush every rupee you earn down the toilet.
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So, to keep your Savings Account from resembling a moth-eaten sweater, here are some money management tips to keep in mind before you head out to paint the town red:
Leave Your Credit Card At Home
Sure, it’s easier said than done, but if you have a habit of going overboard on a night out and swiping your card on another massive round of shots for you and your buddies, then you need to lock your Credit Card up right away.
A few days before the weekend hits, put your Credit Card away so that you’ll conveniently ‘forget’ it when you leave home. Or, you could even give it to your spouse or significant other to keep it away from your clutches, although this may not be the best idea if he or she happens to be a spendthrift like you.
Sure, you may be a bit miffed when you reach into your wallet to find your card isn’t there, especially when you’re having a whale of a time, but trust us when we say you’ll be thanking your proverbial stars the next day.
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Leave Your Debit Card At Home As Well
While you’re at it, leave your Debit Card behind along with your Credit Card. You certainly wouldn’t want to end up swiping your Debit Card in the heat of the moment and emptying the contents of your bank account.
In fact, using your Debit Card could be worse than maniacally swiping your Credit Card at every given opportunity. At least with your Credit Card, you have the opportunity to pay back the amount at a later date, but with a Debit Card you could clean out your savings in one fell swoop and not have enough money to tide you over for the rest of the month.
It’s simple. Leave your cards at home and carry a limited amount of cash on you so you can’t go berserk every time you get a whiff of Tequila. Your friends may call you a square for not ‘living it up’, but it’s better than spending the next few weeks scrounging for spare change in sofa crevasses.
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Stick To A Budget
When heading out for what could, in all eventuality, be a wild evening, make sure you draw up a budget before you set foot outside your door. Come up with a reasonable estimate of how much you’ll spend on food and how much on drinks and carry that amount in liquid cash and maybe a little extra in case of an emergency. And by emergency, we don’t mean your fifth, fast-emptying pitcher.
Carry just enough with you to have a fun yet affordable night out so you can have the best of both worlds – a good time and a still intact bank balance. Once you get the hang of budgeting you’ll find that it’s easier to place limits on your spending as time goes by.
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Learn To Say No
The last tip on this list, but certainly not the least, is to learn to say no. While it can be incredibly hard to not spend on scrumptious food or treat your friends to another round of drinks when you’re in a good mood, you need to pull yourself together at precisely these moments and stop yourself from dipping into your pockets any more than necessary.
While the temptation can certainly be great, it all boils down to a matter of willpower. Try and pace yourself. You don’t HAVE to go out every single weekend, nor do you HAVE to spend beyond your means just to keep up with your friends. You could even swap a rowdy night out in the city for a quiet evening of hot coffee and good conversation.
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So the next time you put on your Sunday best in anticipation of an epic night with your squad in tow, remember these tips or the only thing you’ll be towing once it’s all over is a bucket of tears.