Friendship Day: 8 Types of Friends That Wreck Your Finances

Friends are great. Genuine friendship is one of the most worthwhile pursuits in this life, and it sometimes develops without even trying—those natural, unbreakable bonds help us learn, grow, and add meaning to everything we do. That’s why so many countries and the United Nations designate a day to celebrate friendship. 
Types of friends that can cost you money
Unfortunately, some friendships can be expensive. Whether someone is running up a tab and owes you money or pressures you to spend more than you’d like when you go out, here are 8 types of friends that can keep you from being debt-free if you’re not careful.  
1. The influencer
This friend loves to do things. Can’t get enough of it. They may be obsessed with keeping up appearances for social media, or they may need to stay busy to avoid being alone with their thoughts. Either way, they don’t like Friday nights in and every weekend consists of bar-hopping and wineries and blasting music on someone’s boat. Those White Claws add up. 
2. The baller
The baller is a different kind of spender than the influencer. While the influencer loves to go out every weekend, the baller might not be as socially active. But—like The Most Interesting Man in the World—when they do go out, they spend BIG. This frivolous attitude could lead to hefty price tags on nights out, i.e. bottle service last Saturday at the club (and it wasn’t even anyone’s birthday). 
3. The bargainer
This type of friend almost always owes you money. You’ve lost official count, but you estimate their tab to be somewhere between $500 and $1,000 after all the times they were supposed to “hit you back” but never did. You’ve probably known them forever, and for that reason, you feel guilty that they’re not able to afford all the expensive events now that your mutual friends are getting married and having kids. So, you cover them and accept things like the occasional beer, a subscription to GQ that you never asked for (that they got you for free through their company), and their Disney+ login as repayment. 
4. The nickel-and-dimer  
Other names for this type of friend could be cheapskate or penny-pincher. If this person owes you money, they’re likely going to remember every little thing they’ve done for you when it’s time to pay you back. If you’re out to eat, make sure you can spare 20 minutes to figure out the check—because this person is going through that bill line by line to figure out who ordered what and how much everyone should chip in. (I’ll be honest, I’m the “let’s just split it evenly” type. And, while that’s not always fair, I don’t want to be bothered and know that sometimes I’m going to end up overpaying but sometimes I’ll be the jerk who had 4 drinks because it was a rough week.) 
5. The schemer 
Let’s just call this one “Rick” (no reason). This type of friend is always planning something behind the scenes. And, as much as you love that someone else is taking the initiative to make plans, you also wonder how that same person ends up paying less than everyone else. Is there math you don’t understand? Or is Rick secretly charging everyone a planning fee for his services? Schemers are worth investigating; one idea is to suggest a shared spreadsheet for trips and big expenses. #ShowMeYourWork 
6. The moocher
When you go out to eat, this friend ends up away from the table when the bill comes. They could’ve hit the bathroom real quick, or maybe they got a phone call? If they stay at the table, they get alligator arms and suddenly can’t reach their wallet. Sure, you’re happy to get the points and pay or split with whoever else is there, but this isn’t a one-time occurrence. Another common move is the ‘slowly pat around for wallet’ to ensure that you grab yours first. And once mooching becomes a trend, your moocher friend can evolve into a bargainer who tries to offset their debt with favors and non-monetary forms of repayment. 
7. The philanthropist
We get it, this person is generous. Birthdays, weddings, baby showers—they always give the best gifts and spend more than everyone else. But you don’t need to match them or up your gift game. If they have more disposable income or are just willing to spend differently than you, that’s a personal choice and shouldn’t affect your finances. Real friends won’t worry about how much you spent on their gifts. So, as lame as these clichés sound, there’s no need to keep up with the Joneses and it’s truly the thought that counts. 
8. The beneficiary
Trust fund baby. Richie Rich. Chasten. This type of friend can go by many different names, but the telltale sign you’re dealing with a beneficiary is that they splurge as if money doesn’t matter to them. They likely don’t understand or care about the value of anything. (“I mean, it’s one banana, Michael. What could it cost, $10?”) The best way to deal with a Chasten is to be upfront about spending boundaries and hope a little of your humility rubs off on them. The least they could do is acknowledge that everyone has a different threshold for how much they can spend. 
You probably don’t have to deal with all these types of friends, but there’s a good chance you’re familiar with at least one friend who directly or indirectly impacts your finances. And if none of these personalities ring a bell, well then you might just be one of them. Happy Friendship Day! 
Source: Credello