Any of these sound familiar?
- The friend who enables your worst spending habits – urging you to go on shopping sprees.
- The friend who is always borrowing and never pays back.
- The friend that is always snooping.
- The friends that is always showing off.
- The freeloading friends that never pays their share of the bill.
- The friend who always has new dodgy money making scheme.
Those are financial frenemies.
They are people who you enjoy hanging with but can sometimes cause you to make bad money choices.
This people may bring richness in some other areas of your life but can be negative influences when it comes to money. Some of them you can avoid, some you can ignore their antics, some you learn to say NO to and for some you need to set boundaries around your finances when dealing with them.
I think that by having a clear budget and defined system for dealing with your finances, you become less prone to being manipulated to make wrong choices.