Every day, it seems, a friend or coworker mentions to me that they’re going to be blowing a large sum of money on something frivolous.  Wether it’s a new truck or SUV, big-screen TV, $2000 dog, or some other expense,  I shudder internally.  When it comes to the truck or SUV, I do take some time to try to talk them out of it.  Besides the big up front cost, they usually come with higher payments, much higher gas bills, more expensive maintenance, and lower resale value.  A poor decision here can really mess up someone’s budget… so I do make an effort.

In the other instances, I tend to keep fairly quiet.  I may make a brief effort ( especially when it’s a friend who I know is not doing well financially )….. but I give up pretty quickly.  People don’t like being told that they’re making a bad decision, even if it’s very clear that they are. 

Broke friends are better than no friends

When it comes down to it, I’d much rather have friends who are constantly broke and complaining about money, than no friends at all.  If I tick off all my friends by talking them out of purchases.. two things will happen.  One, these people will have more money ( good thing! ).  Two, they will stop speaking to me ( not so good ).  You’ve got to know what the limits are, and who you can push a little bit harder.  Offering financial advice is a good thing, as long as you are smart about it.  Know when to quit, and err on the side of caution.  Remember, if no one is speaking to you, you can’t help any of them.

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