How to avoid financial peer pressure

I really hate peer pressure. As with most people, it was really intense during my middle school and high school years, and I thought it would subside once I reached my adult years. It has for the most part, but I still face and am tempted by financial peer pressure all the time.

We are bombarded by it all the time in commercials to have the newest gadget, the sharpest new car, the best clothes. It comes from friends either on purpose or inadvertently. We feel we can’t say no to our friends’ request to go on vacation with them, or to turn down a request to go to a fancy dinner or a concert. It’s not that we don’t want to go with them, it’s just that it doesn’t fit into our agreed upon plan. But because we can’t say no, we do the easy thing in the short run and give in. However, in the long run, the ability to say “no” to financial peer pressure will take you to places that most people only dream of going.

I know we want to impress others, do what our friends are doing, and not be known as the party pooper. But the ability not to care what others think of your financial decisions is one of the most important financial disciplines you can develop. With that being said, when I see someone I know with a brand new car I think to myself how nice it would be to drive one just like that. But then I realize what the opportunity cost is to my family and it makes it easier to avoid.

How have you been tempted in the past by peer pressure? Did you give in and if so what was the result?

To receive notifications of new posts, please join our email list

To learn how JW’s Financial Coaching can give you a new perspective on your money please visit one of the following links:

About Services Offered Mission Statement Contact Information FAQ

This entry was posted in Financial Discipline, Personal Story, Spending and tagged , . Bookmark the permalink.

2 Responses to How to avoid financial peer pressure

  1. Jenny says:

    Ah yes, the dreaded peer pressure. It kind of goes hand-in-hand with keeping up with the Joneses, huh?

    I have a hard time saying no when I’m invited to do something that costs more money than I was planning to spend, but I’ve gotten pretty good at it. In fact, my friends and family dont’ get offended in the least if I say that I can’t go somewhere because of the high price. They actually expect it from me now! 😉

  2. Jon White says:

    Jenny, I think we all have a hard time saying “no” to friends and family. But I have found that once someone says no based on the cost, others in the group speak out because they were thinking the same thing but they didn’t want to be “the one” to bring it up!

    I think it’s cool that your friends and family expect you to say “no” to high price things; it probably gets them thinking on whether or not they should do it as well. 🙂

Comments are closed.