See your friends more for less money

It’s been a good summer for the British. Well, perhaps not in terms of sunshine, but certainly when it comes to socialising.
 
A report from Santander shows that its credit card customers spent an average of 27% more in bars and restaurants between July and September last summer. It estimates that this could be even higher this year, after the Olympics boosted the nation’s feel-good factor.

That’s certainly supported by a new survey from Lloyds TSB, which found that spending in restaurants rose by an average of 11.5% during the Olympics. It also ascribes this to the “party atmosphere” generated by the Games.

So we’ve had fun, occasionally even in the sun. But now September is looming, many of us are checking our bank balances in disbelief.

The sun might help you save a bit of money, but the kids’ summer holidays and long evenings make it even easier to spend.

But before you decide you can’t afford to socialise again until Christmas, here are some tips for keeping the cost down.

[Related link: Transfer your balance to 0% credit card – pay no interest for up to 22 months]

Don’t buy rounds

Nothing is more lethal to a budget than buying rounds. Once you’re in a round-buying situation, you lose all control over the amount you spend on drinks.

By the time it’s your turn, you have no choice but to buy whatever people ask for – whether it’s a shandy or a 18-year-old single malt.

Not only that, rounds force you to keep pace with the group when you might prefer to nurse a drink for a little longer – saving you money and a headache.

Also, it means you can’t keep the cost down by switching to a soft drink if you want to.

Your friends will understand why you’re not joining in on a round – some might even be grateful for an excuse to join you.

[Related link: Get cash back on your spending with the right card]

Minimise money on meals out

We love eating out in the UK. In fact, one in six meals is consumed outside of the home, according to the Department of Health.

But you can keep the cost down. One way is to eat those meals in the home instead (check out the next tip).

Another is to chase good deals. Some pub chains offer two-for-one meals, or half-price deals on specific days of the week. One major pizza chain often gives customers a ‘buy one, get one for a penny’ deal.

If you’re going to eat out, always plan ahead so you can hunt down a deal – don’t rely on stumbling on a restaurant once you’re already out and about.

Try luxury food in the home

If you want a romantic night with your partner, the chances are you’ll go out to dinner. But you could buy luxury ready meals and simply heat them at home.

I don’t mean horrid frozen TV dinners – many shops offer premium food at realistic prices. For example, several offer ‘two dine for £10’, often including a bottle of wine.

In a restaurant you’d be likely to pay more than double that. And the same goes for takeaways. Why spend £17 on a Domino’s pizza when you can get a freshly-prepared one from ASDA for £3.50?

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Always use a voucher

Vouchers used to be genuinely valuable and offer loyal customers decent discounts. Now, there’s growing speculation that restaurants and pubs are factoring those vouchers into their prices, meaning you’re probably not actually making the saving you think.

However, that means that if you don’t use a voucher, you risk paying more than your fair share.

So before you head out to a bar or restaurant, have a quick look online for a discount and make sure you’re not paying over the odds.

[Related feature: The vouchers that leave you worse off]

Change the plans

Of course, you can save money by staying in, but that’s not really very helpful. We’re sociable creatures and we need a certain amount of social activity.

If you invite friends round to your home, it’s very hard not to turn it into a party, and lay on food and drinks. That might be cheaper for them but it won’t help you save money.

However, you could always change the nature of the socialising you do. Some mum friends of mine meet every other Friday for a ‘craft night’. They take it in turns to host and everyone brings a few treats.

Because the focus is on their craft hobbies - everyone brings a different project and they share skills and tips - rather than drinking, it’s a cheap and fun night.

Do you ever feel under pressure to spend more than you want to when socialising? Do you have any tips for cutting the cost? Share your tips and experiences with other readers in the comments below.