How To Talk To Your Friends About Money

The general belief is that we can talk about anything and anything with our close friends and that they are the only people to whom we can reveal our secrets. For instance, who we adore secretly or who our hidden adversary is. We can talk about what projects we are currently working on in our lives and many more. However, amongst many things, we are always extremely fearful of approaching one particular topic, i.e., the money talks.

They have still got the taboo on them. The worst aspect is that if we have any financial difficulties, we go from bank to bank for loans while feeling humiliated and uncomfortable about discussing the facts with our close friends. Do you believe this should change? Let’s see how you can take your initial steps toward the new challenges.

Don’t Be Judgemental, Keep The Chats Safe

Your buddies are at the top of your priority list because they know you from the inside out and admire you for being yourself. They are your friends, and thus, they will not judge you. Similarly, you should regard your money chats. You may believe that you are struggling through your financial world while everyone else is enjoying an easy voyage. So, don’t be too afraid of going to the money talks.

That’s not correct. Everyone has a different journey. Things that appear to you to be a difficulty may be the challenges that you need to achieve for growing financially in your life. And, let’s be honest, if your peers wanted to be assessed based on their financial condition, there are still plenty of publications out there informing you of whatever you need to accomplish by age.

Don’t Hesitate To Ask Questions

Don’t be so afraid if you are stuck worrying about what your friends will think of you when you ask them financial questions. It’s quite likely that your pals have gone through comparable situations in their own life and, being reluctant, haven’t communicated such talks with you at those times. It’s often possible that they will find themselves in similar situations in the future. As a result, you should express your concerns to them and ask all of your questions.

If you have any questions about how to pay your taxes or even fundamental financial matters, such as whether you should invest in a fixed deposit or mutual funds, you should ask them honestly. Do not worry about seeming foolish in front of a good friend. If they have battled with this issue, they might share what they learned along the process. And even if they don’t know, it might be a pleasant chance to learn something new collectively.

Communicate About Your Financial Boundaries

Again, there are times when we try to appear cool by claiming that, yes, we have a budget to afford the expensive restaurants, while in reality, we don’t. We do this to avoid embarrassment and a lack of confidence. You should start talking about your financial limits. If you don’t feel like brunch, talk openly. They are your friends. They are in your life to help you, not to burden you. So, discuss honestly what you can afford at the moment, which may be a pizza or a cheaper café.

You may and should create limitations that keep you on track with your financial goals. A good buddy will understand and not attempt to push you over that threshold. This is especially true if you provide a few recommendations for cheaper alternatives! And the results could amuse you. For instance, your friend was probably under the same pressure as you and didn’t want to spend so much money either.

Don’t Compare

If you share your financial information with a buddy, You might want to compare yours to theirs. You may believe you are behind or ahead of them in different ways. Still, the fact is that everyone started on different economic footings, traveled a different journey to get to where they are now and are heading in different directions! So, don’t make comparisons.

Talking about money with your friends should become more common. You may be the first one to take the initiative. Keep in mind the points discussed above, and enjoy your financial conversation with friends.