Are Friends Affecting Your Spending Habits?

By siliconindia  |  Wednesday, March 14, 2012

Bangalore: There are certain types of 'friends' who can turn out to be an absolute risk to your financial health. At times their authority is so restrained that you might not even grasp that they are impacting your spending patterns.

According to LearnVest.com, studies have confirmed that everything from how much we weigh to how much we spend and the investment decisions we make are influenced by who we are closest to.

Let's have a closer look at the most common types of financial follies rather a guide to pals you might want to steer clear of, when you have your wallet in hand.

The Enabler

Friends can persuade you into buying that pricey dress you don't really need or the face cream that burs your wallet. With comments like "that looks so good on you, you have to get it"can also threaten your ability to pay the rent. Enabler makes a great shopping friend but only when you have the cash to burn. Though you can never change her ways, you can be geared up for her tricks. Make sure when out with such friends, only bring as much cash as you're willing to spend.

Next

ON THE DECK