Money is an extremely sensitive subject to talk about because of the shame and judgement that comes from it, but there are ways to manage different incomes in a friend circle. PennyGem’s Johana Restrepo has more.
Category
📚
LearningTranscript
00:00 (whistling)
00:02 Everyone in a group of friends has different budgets.
00:06 Money is an extremely sensitive subject to talk about
00:08 because of the shame and judgment that comes from it.
00:11 But there are ways to manage different incomes
00:14 in a friend circle.
00:15 If you're the friend with a bit less money,
00:17 NerdWallet recommends that you think of experiences
00:20 you want to invest in and those you'd rather skip.
00:23 Maybe you'd rather eat at home and pay for a concert instead.
00:27 Having a clear idea of this will help you accept
00:30 some invitations and decline others with confidence.
00:34 You can also plan more affordable gatherings
00:37 like hosting a potluck or going for a walk or a bike ride.
00:41 If you're the friend with more money,
00:43 be compassionate when your friend says they can't make it
00:46 or if they straight up tell you they can't afford it.
00:49 These conversations do get easier
00:51 as you open up with each other.
00:53 CNBC points out that being open about finances
00:56 with your friends can be empowering
00:58 and will hold you accountable to meet your goals.
01:02 (upbeat music)