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If you’re committed to paying off your debt, you’ve probably reduced your spending. If you’ve cut your spending, I bet you've recently had to say no to friends when they invite you to a restaurant or bar for a meal or drinks. I’ve been in this situation, and I know that saying no to quality time with friends can be tough, even if it is the best thing for your wallet.
But being financially responsible doesn’t mean you have to choose between sitting home in your apartment and spending time with friends. With a little ingenuity, there are plenty of ways to enjoy a frugal night out without breaking the bank.
I've put together a list of small tweaks you can make to your regular weekend routine. These minor changes will save you hundreds of dollars on nights out with friends, money that you can use to pay off your debt. Here are four foolproof tactics to save money on a night out with your buddies.
Pre-Drink and Pre-Eat at Home
Instead of heading out for a night on the town with an empty stomach, consider having dinner first and going out for appetizers instead. By switching from an entree to an appetizer, you'll decrease the amount of money you’ll spend on food, and you’ll still enjoy the atmosphere of a decent restaurant with friends.
Or, if you are planning to meet friends at a bar for a few drinks, have a glass or two of wine at home first. You’ll spend less on overpriced bar drinks while still enjoying yourself. Just do not drink and drive – that is never worth saving money. If I use this tactic, I always, always take public transit or a cab on my way to meet friends.
Shop the Specials
Your friends may have a favourite restaurant or bar they gather at, but consider trying out new locations that may have drink or meal specials. Shopping the specials around your city is a great way to try out new venues without spending a lot of money.
If you’re worried about coming across as a penny pincher to your friends, frame your suggestion of a change of venue as a chance to try out a new type of food or drink, which will make you seem adventurous, not cheap!
Pay with Cash
Nothing puts a stop to overspending like leaving your credit and debit cards at home. If you consistently have a problem with overspending when you go out with your friends, try setting a budget and bringing that amount with you in cash. You’ll eliminate the temptation to spend and stay on budget. Just make sure to set aside enough money for a cab ride home if you’re planning to consume alcohol. I always put a twenty dollar bill in a separate spot in my wallet, so I don't accidentally spend my cab fare.
Host a Themed Night at Home
Finally, the easiest way to have a frugal night out is to stay in. Instead of paying for the overpriced atmosphere of a bar or restaurant you can turn your home into a hot hangout.
To make your event festive, invite your friends over for a themed night. Ask a few friends to bring themed cocktails, and others to bring appetizers. Add some on-theme tunes, decorations, and games and you're ready for a great, and frugal evening.
As you learn to master your money, you'll find yourself saying no to opportunities to spend extravagantly. But tightening your purse strings doesn't mean you can't have a thriving social life, or enjoy nights out with your friends. By getting crafty and taking a few steps to mitigate the costs, you can have a fun, frugal night out.
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Your loan comes with a no interest promise for the first 30 days of the term as long as you have made all of the regular instalment payments that are due during that 30 day period on time (see the Payment Information section of your Personal Loan Agreement for payment details). If you have made all of these regular instalment payments on time, we will send a credit to your bank account for the amount of interest that you paid during the first 30 days. This payment will be made within 14 days of the end of the 30 day period. If all regular payments are made on time and you receive a credit, your total obligation and APR will be less than stated on the Personal Loan Agreement. Ask for more details.
easyfinancial offers a variety of financial services including personal loans, and mortgages. easyfinancial is a division of goeasy Ltd., the leading full service provider of goods and alternative financial services that improve the lives of everyday Canadians. goeasy Ltd. is listed on the TSE under the symbol 'GSY'.
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** Based on the maximum total cost of borrowing under applicable provincial payday loan legislation.
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While having a loan and honouring its obligations can help build credit, too many loans may be seen by potential creditors as an increased risk, and failure to meet repayment obligations will result in a negative report to the credit bureaus, which would reduce your credit score. Please borrow responsibly.
Loans from easyfinancial do not automatically renew. Customers have the option to request an increase to their loan after paying down a percentage of their current loan amount and maintaining good payment history. Such a request would be subject to the company's standard underwriting rules.
easyfinancial offers personal loans from $500 to $10,000 with terms from 9 to 48 months. The APR is 46.96%, and there are no additional fees for the loan. easyfinancial does not charge a late fee, but payments returned NSF (non-sufficient funds) will be assessed a $50 fee in addition to fees charged by the customer's financial institution.
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Purposes for which goeasy Handles Personal Information
goeasy collects and uses personal information for purposes limited to those which are related to its businesses, which include providing household furnishings, appliances, and home electronic products to its customers under lease agreements, staging services, mortgage brokerage services and financial services. We collect personal information primarily from you, for instance through applications and supporting documentation you provide. We may also collect personal information about you through your ongoing interactions with us, from references, employers and other financial institutions you have identified in your application as well as credit bureaus and other third party sources. For example, we may collect personal information from credit bureaus for the purpose of locating you to collect outstanding debts. In connection with loan agreements, we may also collect personal information from credit bureaus in order to verify your current and ongoing creditworthiness and other information you may provide to us.
We may collect and use personal information for purposes such as, but not limited to, the following:
Personal Information goeasy Collects
goeasy limits the amount and type of personal information collected to that which is necessary for our identified purposes, and we collect personal information by fair and lawful means.
Personal information that we collect includes:
Transfers and Disclosures of Personal Information
goeasy may disclose personal information in a number of circumstances, including:
In addition to the above, personal information may be shared between our affiliates or subsidiaries (including those located in the United States) for internal audit, management, billing or administrative purposes including defending and bringing legal actions.
In the course of fulfilling the purposes described above, goeasy may transfer your personal information to service providers, including affiliates or other third party organizations or individuals retained by goeasy to perform functions on its behalf, such as marketing, data processing, customer service, office, security, collections, insurance, financial and taxation services. When personal information is transferred to service providers, we use contractual or other means to ensure that a comparable level of protection is provided. Some of our service providers may be located outside Canada and will be subject to applicable legal requirements in that country including lawful requirements to disclose personal information to government authorities in certain circumstances.
If you are a resident of the Province of Quebec, you understand that we may transfer your personal information to a third party based outside of the Province of Quebec, or store it outside of the Province of Quebec, the handling (including the disclosure to third parties) of that personal information will be subject to the laws and regulations applicable in that jurisdiction and you consent thereto.
goeasy may also use and disclose personal information in connection with the proposed or actual financing, securitization, insuring, sale, assignment or other disposal of all or part of our business or assets (including your loan or lease and any agreement to which it relates), for the purposes of evaluating and/or performing the proposed transaction. Assignees or successors of our business or assets may use and disclose your personal information for similar purposes as those described in this Policy.
goeasy may disclose your personal information as necessary to meet legal, regulatory, insurance, audit, and security requirements, and as otherwise with your consent or as permitted or required by law.
goeasy uses reasonable safeguards and other security standards to protect all personal information in its custody and control against loss or theft, as well as unauthorized access, disclosure, copying, use or modification, regardless of the format in which the information is held. Safeguards will vary depending on the sensitivity, format, location, and storage of the personal information. Only authorized employees, agents, partners and third parties who require access to personal information to fulfill their job requirements will have access to personal information.
Access and Accuracy
goeasy may establish and maintain a file containing an individual's personal information for the purposes described above, which will be accessible at our offices. Individuals have the right to request access to or correction of their personal information that is held by goeasy. Requests must be made in writing, addressed to goeasy's Privacy Officer as per the contact information set out at the end of this Policy. We will respond to written requests within a reasonable time. Copies of records containing personal information may be subject to a fee. If this is the case, goeasy will inform the individual of the amount of the fee in advance. We will use our best efforts to ensure that personal information is as accurate, complete and up-to-date as necessary for the identified purposes. If an individual successfully demonstrates the inaccuracy or incompleteness of personal information, we will amend the information as required. If we refuse access to personal information or disagree with an assertion that information held by us is incorrect, we will provide a written explanation for such refusal and a description of our complaints procedure should an individual decide to challenge such written explanation. An individual's right to access or correct personal information is subject to applicable legal restrictions. To prevent fraudulent access to the personal information stored by goeasy, we may take reasonable steps to verify an individual's identity before granting access or making corrections.
goeasy's Websites and E-Mail Communication
goeasy does not guarantee the confidentiality of any communications made by you via e-mail or otherwise through our websites. If you wish to provide information of a confidential or sensitive nature to easyhome, please contact us directly by telephone at 1-866-823-3279 or easyfinancial at 1-888-502-3279 to arrange for delivery/transmission of such information by secure means.
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In certain circumstances, as permitted or required by law, we may collect, use or disclose personal information without the knowledge or consent of the individual. These circumstances include but are not limited to: personal information that is publicly available as defined by regulation; where collection is clearly in the interests of the individual and consent cannot be obtained in a timely way; where disclosure is made for the purposes of collecting a debt owed to us; or to comply with a subpoena, warrant or court order.
Inquiries or Further Information
Privacy Officer, goeasy Ltd.,
33 City Centre Drive, Suite 510
Mississauga, Ontario, L5B 2N5, Canada
If you are not satisfied with our response to a privacy-related matter, you may contact the Office of the Privacy Commissioner of Canada at 1-800-282-1376 or at www.privcom.gc.ca. or in Alberta or British Columbia, your provincial privacy regulator, as applicable.