Proverbs 13:20 “He who walks with wise men will be wise, but the companion of fools will be destroyed.”
Surrounding yourselves with financially sound people can improve your finances. In the words of motivational speaker Jim Rohm: “You are the average of the five people you spend the most time with.” The people you spend the most time with shape who you are. They determine what conversations dominate your attention. It stands to reason that the relationships your friends have with money will affect your financial decisions. So, who are your closest five friends? Ponder their habits and attitudes. Becoming proficient at choosing your friends wisely is probably a very wise thing to do.
It may be rather surprising to think how your friends can influence your financial success, but indeed they can. Let’s consider a personal example:
My wife and I began living in our first apartment a few months after we got married. Then came our two daughters’ and a growing number of items a few years later. Our space quickly became jam packed. There were people who came over to visit, and from their posture you could tell they didn’t think it was cozy. My wife was not necessarily pleased with the idea of having over guests because of the appearance.
However, our best friends who had similar values; they understood. Our home became the center for bible study, potlucks, baby showers, you name it. This would be shared between all our friends places. Our friends knew we were paying off some personal debts and that our plan was to buy a house eventually after the debts were gone. And that’s exactly what we did.
We all shared similar plans so when it was their turn, we didn’t pressure them to buy a house, but encourage and share learnt knowledge. They too were paying off their debts, to allow them to better take advantage of comfortably financing a mortgage. I am so pleased looking back on the past years how we have all made that transition to home ownership. Our yearly financial goal setting and discussion was realized. We cheer, cry and give each other advice as we made our financial moves.
Proverbs 27:17 “As iron sharpens iron, so one person sharpens another.”
Friends make each other better. This is the central theme of the well-known verse. There is a special bond between friends, as we tend to lift one another up and keep each other accountable. When an iron blade is rubbed against iron, it makes it a useful tool. It sharpens it, allowing it to complete what it was meant to do. Friendships act in the same way. We can encourage our friends to be the best version of themselves realizing their potential.