Start planning for your future

If you’re between the ages of 18-21, you’re automatically eligible for the United Texas Young Adult Club’s numerous benefits. These include a savings and checking account and a Starter Mastercard with favorable terms. All you need to do is join United Texas.

As you go about budgeting and managing your finances, you may run into trouble. And all too often, this trouble can come from close friends. Should you abandon them? Of course not. But you should be aware of how they affect your life, and plan accordingly. Here’s who to watch out for:

1. The Party Friend

This friend loves to live it up. They are keen to go out and spend big every night—on drinks, clubs, expensive activities, fine dining, you name it. While it’s fun to indulge once in a while, constant partying puts a huge drain on your wallet. If you have a friend like this, let them know diplomatically you can’t always come along. Consider suggesting cheaper alternatives, like a potluck instead of a dinner out or a scenic hike instead of a pricey music festival.

2. The Selling Friend

Whether it’s makeup or knives, insurance or plastic ware, some friends love to sell you anything. And it can be hard to say no, since you want to support them. Try not to be too blunt in your rejection (unless it really becomes necessary) but also do your best to avoid their “product parties” and other sales-y situations. You can spend time together in a less pressured environment instead.

3. The Borrowing Friend

Here’s a principle: never lend money to a friend unless you can completely accept that you might not get it back. Because the truth is, there is no guarantee you will. You could end up in a dangerous financial situation, and threaten your friendship. Instead, if you don’t have the cash to give away, encourage them to get a personal loan or find some other form of financial aid. It might be difficult, but it will save you turmoil in the long run.