How to save money in your social circle


Saving tips for your social circle

Having to decline an invitation to dinner, or any event with friends, for financial reasons can be awkward. This can easily leave you feeling isolated and even guilty about your finances.  To ease the financial pressure you may sometimes find yourself in, take note of the following tips that can help you save you money in your social circles. These tips will also be handy in giving you an opportunity to take part in your skeem’s outings without getting into unnecessary debt.

Take charge of plans

When it comes to planning outings and coordinating invitations and finances between friends, nobody really wants to put on that hat. If you’re looking to save some money, however, taking charge of those plans will benefit you. This does not necessarily mean becoming a ‘travel agency’, but it could include proposing more affordable joints for food and entertainment. This will require some research on your part, but it will all be worth it when you count the cost at the end of the month.

There’s plenty of sites you can use to search for discounts on local food and fun activities. One of them is Hyperli. This is “an on-demand commerce business that enables customers to search and discover a diverse range of local experiences, products and getaways” around South Africa.

Be Honest: you can say 'NO'

Honesty is the best policy, especially when it comes to money, friends and family. If your reason for wanting to spend less in your social circle is to save towards your goals, be open to your friends and family about that goal. Letting them know what you’re working towards could even inspire them to help you by suggesting less outings, or even more affordable yet fun things to do together.

Most importantly, it is okay to practise saying “no” sometimes. As embarrassing or awkward as it might be, if saving money is your priority, there’s absolutely nothing wrong in choosing to opt out of some activates you’re invited to.

Create a budget

An important part in making sure that you save money in your social circle is to create a budget. Take a look at your income and expenses to see what your disposable money amounts to. Then decide on an amount you’re comfortable to spend with your family and friends on outings.

Stay in and host a bring-and-share

Sometimes you really want to hang out with friends, but then you might have used up all the money that you had allocated in your budget for the month. FOMO doesn’t have to get you to spend more — you can enjoy some time with your friends by suggesting a stay-in or even a bring-and-share at home.

This does not have to be boring at all — inexpensive does not mean boring. You could theme these gatherings and include food, games, music, sports, movies, etc. for entertainment. If everyone can contribute financially, you can all save and enjoy your time together as friends. African Bank’s MyWORLD bank account offers a Power Pocket feature that’s perfect for helping you all to save together and contribute towards a ‘Stay-in’ or even a night/day out.Apart from it offering South Africa’s best fees, all your friends can enjoy saving together as friends. If you’re looking for banks with lowest fees, this account offers just that for your savings.

Enjoying fun gatherings can be tricky when you’re trying to save money, but balancing your social life and finances is possible and will be worth the compromises.


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Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.