New Year's Resolutions: 1

Every January I make them, and every December I wonder at the futility of it. When is making a New Year's Resolution a good idea? The Pittsburgh, PA incarnation of about.com has a Top 10 List of New Year's Resolutions. From this list, I will do a five-part installment on the various ways that New Year's Resolutions go wrong.

Part One: "Quality" Time
For my first installment, I'm combining the first and seventh items on the list.
1. Spend more time with family and friends
7. Spend less money/get out of debt

At first glance, these two might seem to fall under different categories. But I believe that the savvy resolution maker can combine them.

You're deep in student loan, car loan, and credit card debt. And that's just what you're admitting to your significant other. How can you improve your financial situation?

Traditionally, those in debt are counseled to create a strict budget and stick to it. They should reduce personal, discretionary spending. Buy second-hand clothes. Don't eat out so much. Put most of your income toward paying down debt.

If you're willing to sacrifice, that's all fine and good. But if you're willing to spend more time with other people, I have another option for you. Mooch.

The most drastic part of this plan would involve moving back in with your parents, if you can take it. Sucker them into letting you stay for free and feeding you, and virtually all costs of living disappear! You may even get your laundry done, too.

Now, what expenses are left? Entertainment, mostly. This is where friends come in. You know how to work this—we've all known a mooch at some point. "Forget" your wallet when you meet for coffee. When you're out with a group for dinner, order two entrees (the second one boxed for later), copious amounts of alcohol and several appetizers; then suggest everyone split the check evenly, throw your money on the table, and split.

If you rely on others to pay for you, you can't help but spend more time with friends and family. Will it be quality time? Well, is that question ever really answered for sure? Save up for a house down payment so everyone can take a well-deserved break from each other once your year of togetherness and financial frugality is over.