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Friday, July 17, 2015

10 Types of Friends Who Can Help Improve Your Finances

Friends can be a great support system when you’re having difficulty with money. While most people know about the type of friends you don’t want around, here are the types of friends you should have around to help you improve your financial situation:

1.  Supportive Friends
The best type of friend is one who supports you even if they don’t entirely understand or share your financial situation. These are the friends who will listen to your problems and try to lend you help any way possible. The next time you feel yourself spiraling out of control because of your finances, call up one of these friends.

2.  Friends Who Loan You Money
Not everyone is lucky enough to have friends who can loan money. If you do have friends who won’t hesitate to lend you money, consider yourself very lucky! However, if your friends are generously offering to loan you money, don’t use them as a crutch and make sure you pay them back. You don’t want to turn into that friend who never repays.

3.  Friends Who Understand Your Situation
Are you suddenly embarrassed that you can no longer go out to eat with your friends? Maybe you had to pull out of a group vacation because of money problems. Some people might not understand why, but a good friend will not only support your decision, but understand why you had to make such a decision. They might not have all the details about your financial status, but they’ll support your choices as you work to improve your finances.

4.  Friends Who Don’t Pressure You
No one likes friends who pressure them. It’s easy for someone with secure finances to pressure you into going out for happy hour drinks when they don’t have to worry about money. A good friend is one who doesn’t pressure you and who possibly offers alternatives where you don’t have to put your finances in jeopardy.

5.  Non-Judgmental Friends

Sometimes it seems as if there are judgmental people everywhere. They might judge you for your fashion sense or your education background or even for the location of your house or apartment. A lot of people tend to judge others based on their financial status and security, as well. Having non-judgmental friends around when you’re trying to improve your finances and keep yourself stable is very important. The last thing you want is someone who is making snide comments about your spending habits or money failures.

6.  Friends With Finance Experience
When you’re looking to improve your finances, consider talking to any of your friends who might have a background in finance. They might be able to help you figure out what approaches to take to improve your financial accounts or how to effectively cut frivolous spending. Friends with financial experience are a great resource. If you don’t have many financial friends ‘in real life’, simply visit our forums for tons of financial support for whatever you’re going through.

7.  Friends Who Have Been in the Same Financial Situation
Sometimes it’s difficult to be the only one in a group of friends suffering from poor finances. You might feel as if your friends don’t understand your situation or that they can’t relate when you discuss your fears for your future. A friend who is in the same situation or who used to be in a similar situation can not only sympathize with you, but can potentially help you find ways to improve your finances that you might not have considered.

8.  Ones Who Will Give Objective Advice

It’s often hard to give objective advice to friends and family. Having a friend who can sit you down and provide unbiased advice is a great friend to have. They might be able to point out flaws and solutions that you or other friends didn’t observe. Objective advice is something everyone needs to hear, especially when it comes to changing spending and finance habits.

9.  Friends Who Don’t Mooch
Of course, no one wants a friend who mooches off of them, especially if your finances are in a dire state already. A friend who mooches off you while you’re trying to repair your finances isn’t someone to keep around. Instead, keep around friends who support your effort to improve your finances.

10.  Ones Who Act as a Resource for You

A friend who acts as a resource for you is someone who may lend you money, offer unbiased advice, or point you in the direction of a good financial counselor or  good financial advice. These are friends who pretty much encompass all the other points discussed on this list. Ultimately, friends who act as a resource will go out of their way to help you improve your finances in any way possible.

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Note: The opinions expressed here are the personal opinions of readers and not that of Funmy Kemmy.

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