While friendships are priceless, for many teenagers, socializing is an activity that carries a price tag. The price to fit in with different friend groups can range from going out to eat, watching sporting events or doing other fun group activities.
In today’s social world, “hanging out” usually necessitates spending money. It is expected for everyone participating in an activity to pay their part of the expenses. For some teenagers, this is not a concern. They may have part-time jobs or parents who give them money. However, for others, this could lead to stress, embarrassment or even exclusion.
Senior Dilpreet Singh is used to spending money when going out with friends. “I’m usually the one spending the most money because I don’t want my friends that don’t have money to feel left out,” explained Singh. “I usually spend anywhere from $7 when I just buy food for myself. But when I go bowling with my friends, I spend all the way up to $100 because I pay for them.”
Social acceptance is often what motivates teenagers. They are in a period of life where fitting in becomes important, and spending money can be what it takes to maintain a friendship. Unfortunately, this can lead to bad spending habits such as overspending or borrowing from others.
Singh also believes his only bad spending habit is on food. “My only bad spending habit that I have developed is spending too much on food,” said Singh. “I think I’m spending too much on food because I pay for my friends’ food when they don’t have money because I don’t want anybody to feel left out.”
Teens trying to find their way through this social pressure have attempted to fix this problem. Open communication and creativity can lead to more affordable ways to spend time with each other.
Some of the free or low-cost activities may be movie nights at home, sports games, picnics at the park or hiking. These activities are just as fun and allow for quality times without facing any financial concerns.
Having financial conversations with friends may not be appealing, but true friends will not mind and might also rethink group activities.
If spending money cannot be avoided, setting a personal budget and respecting it can also help teens manage their financial responsibilities. For example, they could plan to attend every other hangout with their friends instead of every hangout.
It is also the adult’s responsibility to make this issue less of a problem for teenagers. Parents that teach their kids to not judge others based on their financial status help tremendously. Parents can encourage teens to build friendships based on the value of their relationships rather than activities that require spending money.
Senior Jordan Miles was taught by his parents to never judge others by their financial situation. “My parents have taught me to never judge someone by their financial status because you never know the exact details of what their situation may be,” explained Miles. “I would also hope that others treat me with care and not judge me for my financial situation.”
Ultimately, the culture of socializing does not have to be based on spending money. Teens can redefine what counts as time with friends and show that not all great friendships must have a price tag on them. Through shared experiences and mutual support, teens can build friendships that are financially sustainable.
