Best financial friend: Up your money game with your BFF

In this article

  • Encourage each other through financial ups and downs. 
  • Check-in on your BFF and have meetings once a week or so to exclusively discuss finance.
  • Evaluate if your partnership is healthy and helpful and if both of you are thriving.


They say best friends are forever. Well, so are your financial habits. This is why it is so important to have good friends support you in your financial journey. In the backdrop of National Best Friend Day, we look at how your friendships can also help you stay afloat in your financial ship.

Did you know that BFF also abbreviates to Best Financial Friend? It’s vital to have someone in your life to keep you financially accountable. Having a BFF to lean on helps meet your long-term goals and manage everyday spending.

We all need that one friend who checks in on us regularly and with whom we can be raw about our financial struggles and progress.

But if you’re intentional about it, it can work wonders for you. Here’s how you choose your financial friend and accountability partner:

 Score financial goals together

When you pick your BFF, choose someone with similar goals and good financial management skills. Don’t go with a spendy friend. Remember you need someone who will hold you accountable financially. So go with someone who is frugal and smart with their financial decisions and who fits your monetary mindset.

Your BFF should pull you up, not down.

 Create challenges and set goals together

Financial accountability doesn’t have to be boring. Take it up a notch and make it fun! Start a saving challenge, like the 52 Week Money Saving Challenge (where you save a little more each week than the previous week).

Encourage each other but also compete and set weekly goals like, “no Starbucks coffee this week.”

At the end of the week, compare your progress with your BFFs. No one likes to lose a challenge!

Check-in on them frequently

Of course, you love hanging with your BFF. But set up daily or weekly meetings exclusively to talk about personal finance. Shoot a text to check-in, or have a phone call whenever and talk about the financial progress made in the previous week.

Plan inexpensive outings together

 Peer pressure can be a big problem but also a blessing in disguise for all the right reasons. Plan outings together that will be inexpensive or free. Play ultimate Frisbee, go on a hike, or rent a Redbox together and have a movie night in. Resist the peer pressure of splurging together!

Encourage one another

 Two is better than one—you are stronger together than you are apart. Encourage one another daily, and especially in moments of  failure. There is always scope for improvement. When the other is feeling down, bring them back up! And vice versa.


Peek through and re-evaluate the goals that you have set together. Ask yourself if you need to create new ones?

Evaluate if your partnership is healthy and helpful. Are both of you thriving? Come to conclusions, and create change where necessary.

When you’re done, raise a toast for your friendship and celebrate!

This page is purely informational. Line does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

Related Posts