Think about this question: Are your friends putting you in debt? Of course not, you probably say. But think a little more.

Have you ever taken a trip, gone to an expensive restaurant, or done something else that you couldn’t afford because that’s what your friends were doing and you wanted to be a part of the group? Peer pressure is a powerful thing, and it doesn’t end with childhood.

If you’re on a serious wealth-building plan, you’ll sabotage it if you succumb to pressure from friends to spend money on consumables that you don’t need at the point in your life when you should be focused on building resources for the future.

Do you really need to do the old “keeping up with the Joneses” thing? No! And remember this: you have no idea how much debt “the Joneses” are in.

Economic inequality is a fact of life. It’s not easy, but you should acknowledge the economic disparity between yourself and your friends—whether it’s a disparity based on what you actually have or just how you’re willing to spend what you have.

Two important lessons here:

One, don’t spend what you don’t have on entertainment just to be with your friends. Suggest alternatives. Or recognize that not all friendships will last forever, and maybe it’s time to move on or at least take a break from this one.

Two, when you have achieved your own financial goals and can afford the luxuries you’ve always wanted without going into debt, recognize that not all of your friends may be in the same position and be considerate of their financial situation when making suggestions and issuing invitations.

How do you deal with this issue? Please share your comments.