Are your friends too expensive? What a new survey reveals

A recent survey by Ally Bank found that 44% of Gen Z and millennials have skipped social events due to cost, with the average person spending about $250 per month on friend-related activities. Despite financial strains, 69% prioritize weekly, in-person time with friends. The survey also revealed that money differences can strain or end friendships, with 20% of respondents indicating that financial or lifestyle gaps have contributed to friendship fallout.

To maintain strong friendships without blowing your budget, the survey suggests setting a monthly social cap, creating a dedicated savings pocket for friend time, and opting for low-cost activities like "no-spend hangs" and potluck nights. By being transparent about financial constraints, suggesting fair splits on bills, and offering affordable alternatives, individuals can protect their peace, keep their people, and prioritize meaningful connections without overspending.